# Xtrackers II Eurozone Government Bond 3-5 UCITS ETF 2D GBP Hedged Distribution (XGEP) **Page:** https://fundology.uk/fund/xgep · ISIN LU2606231418 ## At a glance > Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise. 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. ## Summary 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. Latest close: **£8.86** (13/11/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | XGEP | | ISIN | LU2606231418 | | Category | Government bonds | | Type | ETF | | Provider | Xtrackers | | Tracks | Markit iBoxx Euro Sovereigns Eurozone 3-5 Index - EUR | | Income | Distributing | | Ongoing charge | 0.20% a year (£20 per £10,000) | | Fund size | £11.4m | | Launched | 2023 | | Domicile | Luxembourg | | UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 12/05/2023 | ## Past returns (periods to 13/11/2026) After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation. | Window | Return | After CPIH inflation | Measured as | |---|---|---|---| | 1 year | +0.42% | -3.13% | income reinvested | | 3 years | +4.86% | -5.26% | income reinvested | Returns: as reported (delayed data). Inflation: UK CPIH, latest month published. ## Calendar-year 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 CPIH inflation | Measured as | |---|---|---|---| | 2024 | +2.3% | -1.2% | Price | | 2025 | +2.8% | -0.7% | Price | | 2026 to 13/11/2026 | -2.1% | -5.2% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 3.41% | -3.94% | | 3 years | 3.10% | -3.94% | ## Largest fall 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. ## Charges compared with similar funds 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). ## 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 | Ongoing charge | 1 year | 3 years | 5 years | |---|---|---|---|---| | Xtrackers II Eurozone Government Bond 3-5 UCITS ETF -2C - USD Hedged- Capitalisation | 0.20% | +0.1% | -2.9% | — | | Xtrackers II Eurozone Government Bond 3-5 UCITS ETF 2D GBP Hedged Distribution (this fund) | 0.20% | +0.4% | +4.9% | — | | Xtrackers II Eurozone Government Bond 3-5 UCITS ETF Capitalisation 1C | 0.15% | -6.4% | +3.0% | -4.3% | Returns are as reported, in pounds, income reinvested unless marked "(price)". ## Charges & eligibility - Ongoing charges figure (OCF): **0.20%** per year (as of 13/11/2026) - Stocks and shares ISA eligible: usually (check with your platform) - SIPP eligible: usually (check with your provider) - ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify. ## What it holds 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%. ### Top holdings Largest positions (as of 15/11/2026), as a percentage of the whole fund: | # | Holding | Ticker | Weight | |---|---|---|---| | 1 | France (Republic Of) (FR001400Z2L7) | — | 10.61% | | 2 | France (Republic Of) (FR001400PM68) | — | 10.19% | | 3 | Germany (Federal Republic Of) (DE000BU25067) | — | 6.09% | | 4 | Germany (Federal Republic Of) (DE000BU25042) | — | 5.39% | | 5 | Germany (Federal Republic Of) (DE000BU25059) | — | 5.19% | | 6 | Spain (Kingdom Of) (ES0000012N43) | — | 4.90% | | 7 | Germany (Federal Republic Of) (DE000BU25075) | — | 4.72% | | 8 | Germany (Federal Republic Of) (DE000BU27006) | — | 4.70% | | 9 | Germany (Federal Republic Of) (DE0001102622) | — | 4.37% | | 10 | Italy (Republic Of) (IT0005519787) | — | 4.03% | ## Where it invests Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed. ### By country Added up from the fund’s published holdings, as of 15/11/2026. | Country | Weight | |---|---| | Italy | 31.5% | | Germany | 30.5% | | France | 20.8% | | Spain | 11.9% | | Netherlands | 5.3% | All 23 holdings: https://fundology.uk/fund/xgep/holdings ## 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. ## Fund documents - [Fund page at Xtrackers (DWS)](https://etf.dws.com/en-gb/LU2606231418-eurozone-government-bond-3-5-ucits-etf-2d-gbp-hedged/) - Links checked 12/10/2026. --- We show information. We are not financial advisers, not authorised by the FCA, and never recommend specific investments. Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.