ETF · Xtrackers
XGEP Xtrackers II Eurozone Government Bond 3-5 UCITS ETF 2D GBP Hedged Distribution
ISIN LU2606231418London Stock Exchange: XGEPDeutsche Bank AG
- Government bonds
- ETF
- ISA
- SIPP
- Distributing
- GBP hedged
Latest close
LSE£8.86
on
- Ongoing charge
- 0.20% a year
- Fund size
- £11.4m
As of , at least 15 min delayed
At a glance
As of 13/11/2026, XGEP (Xtrackers II Eurozone Government Bond 3-5 UCITS ETF 2D GBP Hedged Distribution, ISIN LU2606231418) closed at £8.86 on the London Stock Exchange. Its ongoing charge is 0.20% a year (about £20 on £10,000). Over the three years to 13/11/2026 its total return was +4.9%, or −5.3% after UK CPIH inflation.
Past returns
- 1 year to 13/11/2026
- +0.4%
- −3.1% after inflation (UK CPIH)
- 3 years to 13/11/2026
- +4.9%
- −5.3% after inflation (UK CPIH)
Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.
How we work it out:ReturnsReturns after inflationTotal returnReal returnCPIH
Calendar-year and 12-month returns
Calendar-year returns of Xtrackers II Eurozone Government Bond 3-5 UCITS ETF 2D GBP Hedged Distribution in pounds (price only, income paid out not included): 2024 +2.3%, 2025 +2.8%; 2026 to 13/11/2026 −2.1%. Returns of Xtrackers II Eurozone Government Bond 3-5 UCITS ETF 2D GBP Hedged Distribution in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: −2.2%; to 30/09/2025: +2.4%; to 30/09/2024: +7.0%.
| Year | Return | After inflation | Return shown as a bar |
|---|---|---|---|
| to | −2.1% | −5.2% | |
| to | +2.8% | −0.7% | |
| to | +2.3% | −1.2% |
| 12 months to | Return | After inflation |
|---|---|---|
| from | −2.2% | −5.7% |
| from | +2.4% | −1.6% |
| from | +7.0% | +4.3% |
As of , inflation: UK CPIH
How we work it out:Calendar-year returnsWhat a calendar-year return isAccumulating and distributing
Risk: volatility and largest fall
Volatility (annualised)
3.1%over 3 years
| 1 year | 3.4% |
|---|---|
| 3 years | 3.1% |
Annualised from weekly returns. Higher means bumpier.
- Largest fall since May 2023
- −3.9%
- From to
- Lowest 12-month return
- −2.4%
- 12 months to
- Highest 12-month return
- +7.0%
- 12 months to
- Below its highest weekly close since May 2023
- 3.2%
- High of , latest
In words: Volatility of Xtrackers II Eurozone Government Bond 3-5 UCITS ETF 2D GBP Hedged Distribution in pounds, annualised from weekly returns to 13/11/2026: 3.4% over 1 year, 3.1% over 3 years. Largest fall in the price of Xtrackers II Eurozone Government Bond 3-5 UCITS ETF 2D GBP Hedged Distribution since May 2023, in pounds: −3.9% from 13/02/2026 to 02/10/2026. The lowest 12-month return of Xtrackers II Eurozone Government Bond 3-5 UCITS ETF 2D GBP Hedged Distribution in pounds (price only, income paid out not included) since May 2023 was −2.4% (12 months to 23/10/2026); the highest was +7.0% (12 months to 18/10/2024). On 13/11/2026 the price of Xtrackers II Eurozone Government Bond 3-5 UCITS ETF 2D GBP Hedged Distribution was 3.2% below its highest weekly close since May 2023 (13/02/2026), in pounds.
As of , price only — income paid out is not included
How we work it out:Risk figuresFallsVolatilityLargest fall
Charges compared with similar funds
- Ongoing charge
- 0.20%
- a year
- On £10,000
- £20
- a year, roughly
- Over five years
- £100
- of £10,000, before growth
- 219 charge less
- 30 the same
- 62 charge more
Ongoing charge of Xtrackers II Eurozone Government Bond 3-5 UCITS ETF 2D GBP Hedged Distribution 0.20% a year. Compared on 14/11/2026, 62 of the 311 other government bond funds charge more, 30 the same and 219 less (share classes counted once).
As of
A lower charge is not a promise of a higher return: what the fund holds matters more.
As of
Read more:Ongoing charge (OCF)OCF and TERFee dragHow charges add up
In plain English
Xtrackers II Eurozone Government Bond 3-5 UCITS ETF 2D GBP Hedged Distribution is an exchange-traded fund (ETF) from Xtrackers, launched in 2023.
It tracks the Markit iBoxx Euro Sovereigns Eurozone 3-5 Index - EUR.
You buy and sell it through a share-dealing account or platform during stock-market hours, like a share.
Its ongoing charge is 0.2% a year — about £20 a year on every £10,000 invested, taken from the fund's value rather than billed to you.
Income from its investments is paid out to holders as cash, usually a few times a year.
It is currency-hedged: it aims to remove most of the effect of exchange-rate moves against the pound.
Government bonds: Loans to governments, such as UK gilts and US Treasuries. They pay interest; their prices move when interest rates change.
Terms:ETFIndex fundUCITSAccumulating or incomeCurrency hedgingShare classISIN
Key facts
- Ticker
- XGEP
- ISIN
- LU2606231418
- Provider
- Xtrackers
- Structure
- ETF
- An exchange-traded fund: bought and sold on the stock exchange through the day, like a share.
- Income
- Distributing, paid annual
- Income is paid out to holders as cash, usually a few times a year.
- Ongoing charge
- 0.20% a year · about £20 on £10,000
- Fund size
- £11.4m
- Launched
- Domicile
- Luxembourg
- UK reporting fund status
- Yes — on HMRC’s list of reporting funds (list of )
- Reporting fund since . What reporting fund status means
- Can usually be held in
- ISA and SIPP
- Check with your platform: each decides which funds it offers.
- Currency hedged
- Yes, to pounds
- Price currency
- Pounds (GBP)
- Category
- Government bonds
Price chart
Over the last year, the closing price went from £9.04 on 14/11/2025 to £8.86 on 13/11/2026 (−2.0%). The lowest close shown was £8.79 on 02/10/2026 and the highest £9.15 on 13/02/2026.
One close a week. Before 27/08/2026 the closes are from the weekly price history for this listing; from then on, the closing prices we have recorded. Price only — income paid out is not included, so the line can end below the total return above.
As of , at least 15 min delayed
Five years of prices, and after inflation
178 weekly closes, from 26/05/2023 to 13/11/2026. The same history in November 2026 pounds, adjusted with CPIH inflation.
Create a free account to see the 5-year price chart and the after-inflation chart
Sign-up takes an email address. There is no card to enter and nothing to pay.
How we work it out:Prices and returnsNAV and price
What it holds
- Holdings
- 23
- on record
- Ten largest
- 60.2%
- of the whole fund
- Effective number of holdings
- 19
- As concentrated as this many equal-sized holdings (how it is worked out)
- Largest holding
- 10.6%
- France (Republic Of) (FR001400Z2L7)
Top 10 holdings
| Rank# | Holding | Weight as a percentage of the fund |
|---|---|---|
| 1 | France (Republic Of) (FR001400Z2L7)France | 10.61% |
| 2 | France (Republic Of) (FR001400PM68)France | 10.19% |
| 3 | Germany (Federal Republic Of) (DE000BU25067)Germany | 6.09% |
| 4 | Germany (Federal Republic Of) (DE000BU25042)Germany | 5.39% |
| 5 | Germany (Federal Republic Of) (DE000BU25059)Germany | 5.19% |
| 6 | Spain (Kingdom Of) (ES0000012N43)Spain | 4.90% |
| 7 | Germany (Federal Republic Of) (DE000BU25075)Germany | 4.72% |
| 8 | Germany (Federal Republic Of) (DE000BU27006)Germany | 4.70% |
| 9 | Germany (Federal Republic Of) (DE0001102622)Germany | 4.37% |
| 10 | Italy (Republic Of) (IT0005519787)Italy | 4.03% |
As of , holdings as published
Where it invests
The portfolio by sector, country and type of asset, as a share of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed.
By country
- Italy31.5%
- Germany30.5%
- France20.8%
- Spain11.9%
- Netherlands5.3%
See the full portfolio
Every holding with search and filters, the whole breakdown by sector, country and type of asset, a map of the 23 largest and what changed since .
More of the portfolio
The fund publishes 23 holdings; the ten largest make up 60.2% of it. The fund's portfolio is also split by currency.
Create a free account to see the full holdings list and the currency, maturity and credit-quality breakdowns
Sign-up takes an email address. There is no card to enter and nothing to pay.
Holdings:Compare what it holds with another fundHoldings overlapHow overlap is measured
Funds tracking the same index
3 funds track Markit iBoxx Euro Sovereigns Eurozone 3-5 Index - EUR, this one included and share classes counted once; their ongoing charges range from 0.15% to 0.20% a year (13/11/2026).
| Fund | Charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| Xtrackers II Eurozone Government Bond 3-5 UCITS ETF -2C - USD Hedged- CapitalisationAccumulating · Currency hedged · 0.20% a year | 0.20% | +0.1% | −2.9% | Not reported |
| Xtrackers II Eurozone Government Bond 3-5 UCITS ETF 2D GBP Hedged DistributionThis fundDistributing · Currency hedged · 0.20% a year | 0.20% | +0.4% | +4.9% | Not reported |
| Xtrackers II Eurozone Government Bond 3-5 UCITS ETF Capitalisation 1CAccumulating · 0.15% a year | 0.15% | −6.4% | +3.0% | −4.3% |
As of
Markit iBoxx Euro Sovereigns Eurozone 3-5 funds compared: charges, sizes and share classes
Read more:Index fundsTracking differenceHow funds are compared
Other versions of this fund
- Xtrackers II Eurozone Government Bond 3-5 UCITS ETF -2C - USD Hedged- CapitalisationAccumulating · Currency hedged · 0.20% a year · LU2606231335
- Xtrackers II Eurozone Government Bond 3-5 UCITS ETF Capitalisation 1CAccumulating · 0.15% a year · LU0290356954
Read more:Share classesAccumulating or incomeCurrency hedging
Risk and return in depth
Sharpe, Sortino and Calmar ratios
Sharpe, Sortino and Calmar ratios over 1 and 3 years, from weekly returns in pounds.
With a free accountRolling returns
The full range of 126 rolling 12-month returns since May 2023, in pounds, with how often they were above zero.
With a free accountLargest falls and recoveries
The largest fall since May 2023, in pounds, with how many weeks it took to reach its low and to recover.
With a free account
Create a free account to see the risk ratios, every rolling return and each large fall and its recovery
Sign-up takes an email address. There is no card to enter and nothing to pay.
Moves compared with a similar fund
Correlation and beta of weekly returns in pounds against iShares Core UK Gilts UCITS ETF, over the three years to 13/11/2026 (151 weeks).
Pro
Pro — currently by invitation
Pro includes moves against a comparable fund
Pro is open by invitation while it is being built. There is nothing to buy. To ask about access, email [email protected].
Questions people ask
What is the ongoing charge of XGEP?
The ongoing charge of XGEP is 0.20% a year — about £20 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of Xtrackers II Eurozone Government Bond 3-5 UCITS ETF 2D GBP Hedged Distribution 0.20% a year. Compared on 14/11/2026, 62 of the 311 other government bond funds charge more, 30 the same and 219 less (share classes counted once).
What does XGEP track?
XGEP tracks the Markit iBoxx Euro Sovereigns Eurozone 3-5 Index - EUR.
Is XGEP accumulating or distributing?
XGEP is distributing: income is paid out to holders as cash, usually a few times a year. It pays out annual.
What is the ISIN of XGEP?
The ISIN of XGEP is LU2606231418. An ISIN identifies one exact share class of a fund; XGEP is its ticker on the London Stock Exchange.
What does XGEP hold?
As of 15/11/2026, XGEP holds 23 positions, according to its published holdings. The largest is France (Republic Of) (FR001400Z2L7) at 10.61% of the fund; the ten largest make up 60.2%. Its ten largest holdings are France (Republic Of) (FR001400Z2L7) (10.61%), France (Republic Of) (FR001400PM68) (10.19%), Germany (Federal Republic Of) (DE000BU25067) (6.09%), Germany (Federal Republic Of) (DE000BU25042) (5.39%), Germany (Federal Republic Of) (DE000BU25059) (5.19%), Spain (Kingdom Of) (ES0000012N43) (4.90%), Germany (Federal Republic Of) (DE000BU25075) (4.72%), Germany (Federal Republic Of) (DE000BU27006) (4.70%), Germany (Federal Republic Of) (DE0001102622) (4.37%) and Italy (Republic Of) (IT0005519787) (4.03%).
What were XGEP’s returns in each of the last five years?
Calendar-year returns of XGEP in pounds (price only, income paid out not included): 2024 +2.3%, 2025 +2.8%; 2026 to 13/11/2026 −2.1%. Past performance is not a guide to future returns.
How has XGEP done after inflation?
Over the three years to 13/11/2026 XGEP’s total return was +4.9%, or −5.3% after UK CPIH inflation. Past performance is not a guide to future returns.
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Fund documents and methods
- Fund documents
- Fund page at Xtrackers (DWS) (links checked )
Methodology:ReturnsCategoriesAll methods
A machine-readable copy of this page: Markdown.