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Xtrackers Usd Corporate Bond Sri Pab UCITS ETF 2c Eur Hedged tracks the issuer-declared index: Bloomberg MSCI USD Liquid Investment Grade Corporate SRI PAB Index (USD). Mind the share class: this is the version hedged to EUR — returns reflect the index plus the effect (and cost) of hedging into that currency. The declared annual cost (TER) is 0.21%, plus 0.08% in transaction costs estimated by the issuer in the KID. Replication is physical replication (the KID declares buying all or a substantial number of the index constituents); income is accumulated and reinvested in the fund. The fund has assets of about 251 million euro, was launched on 24 November 2020 and is domiciled in Ireland. In our registry it is the largest by assets among the 2 ETFs declaring the same index.
The fund is passively managed.
INVESTMENT OBJECTIVE:The aim is for your investment to reflect the performance of the Bloomberg MSCI USD Liquid Investment Grade Corporate SRI PAB Index (index).
DESCRIPTION OF INDEX:The index aims to reflect the performance of certain types of tradable debt (bonds) issued by companies which are denominated in US Dollars. The index aims to comply with the minimum standards of the EU Parisaligned Benchmark (EU PAB) Regulation by setting an initial 50% decarbonization of absolute greenhouse gas (GHG) emissions relative to the standard Bloomberg USD Liquid Investment Grade Corporate Index, followed by an annual 7% decarbonization trajectory of absolute GHG emissions.
Keep reading the KID section ▾
In addition, the index will exclude bonds issued by companies which fail to meet certain environmental, social and governance (ESG) criteria. The composition the index is rebalanced monthly. On each rebalancing date, specific rules are applied to determine which bonds are eligible for inclusion, which include; minimum time to maturity, amount outstanding, ESG considerations, and a minimum ‘investment grade’ credit rating from major ratings agencies.
INDEX REBALANCING, CALCULATION AND ADMINISTRATION:The index is administered by Bloomberg Index Services Limited (index administrator). The index is calculated on a total return basis which means that the payments from coupons are reinvested in the Reference Index.
INVESTMENT POLICY:To achieve the aim, the fund will i) attempt to replicate the index, before fees and expenses, by buying a portfolio of securities that may comprise the constituents of the index or other unrelated investments as determined by DWS entities and ii) enter into financial contracts (derivatives) which attempt to reduce the effect of exchange rate fluctuations between the currency of the fund's assets and the currency of your shares. The fund may employ techniques and instruments in order to manage risk, reduce costs and improve results. These techniques and instruments may include the use of derivatives. FURTHER INFORMATION: Certain information (including the latest share prices of the fund, indicative net asset values, full disclosure on the composition of the fund's portfolio and information on the index constituents) are available on your local DWS website or at www.Xtrackers.com. Transaction costs and taxes, unexpected fund costs and market conditions such as volatility or liquidity issues may affect the ability of the fund to track the index. The anticipated level of tracking error in normal market conditions is 1 per cent. The currency of the fund is USD. Returns and gains are not distributed but are reinvested in the fund. You may request the redemption of shares generally on a daily basis.
| From the peak of | Trough | Depth | Back to break-even | Days underwater |
|---|---|---|---|---|
| 31 Dec 2020 | 21 Oct 2022 | -28.07% | ongoing | 2,076 |
| 30 Nov 2020 | 09 Dec 2020 | -1.03% | 31 Dec 2020 | 31 |
| 24 Nov 2020 | 25 Nov 2020 | -0.02% | 27 Nov 2020 | 3 |
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sept | Oct | Nov | Dec | Year | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.1 | 1.2 | -2.5 | 0.2 | 0.8 | 0.0 | -2.4 | 0.3 | -0.3 | -2.7 | |||
| 2025 | 0.5 | 2.3 | -0.6 | -0.3 | -0.3 | 1.8 | -0.1 | 0.8 | 1.6 | 0.1 | 0.5 | -0.6 | 5.7 |
| 2024 | -0.6 | -2.2 | 1.4 | -3.5 | 2.1 | 0.5 | 2.5 | 1.4 | 1.9 | -3.3 | 1.4 | -2.7 | -1.4 |
| 2023 | 4.5 | -4.3 | 3.2 | 0.5 | -1.9 | 0.4 | -0.0 | -1.3 | -3.8 | -2.7 | 7.4 | 5.0 | 6.4 |
| 2022 | -4.2 | -2.2 | -2.9 | -7.0 | 1.1 | -3.6 | 3.9 | -4.1 | -6.7 | -1.5 | 5.9 | -1.0 | -20.9 |
| 2021 | -1.8 | -2.3 | -2.2 | 1.1 | 0.8 | 2.0 | 1.5 | -0.4 | -1.4 | 0.2 | 0.0 | -0.2 | -2.7 |
| 2020 | 0.2 | 0.8 |
We do not publish a tracking difference for this share class — and it is not an oversight.
this share class is hedged to EUR; the index the issuer places next to it in its documents is the unhedged, foreign-currency version. Subtracting one from the other does not measure replication quality: it measures the exchange rate. In a year when the currency moves 5%, “the TD” would come out near 5 points — a plausible-looking number, with decimals, and wrong.
Other sites publish that number. We would rather show one figure less than one figure wrong: the TD will return here the day we have the EUR-hedged index series, which the issuer does not publish today.
| Last year | Last 3 years | Last 5 years | Full history | |
|---|---|---|---|---|
| Volatility (ann.) | 4.90% | 6.69% | 8.11% | 7.84% |
| Max drawdown | -4.25% | -6.87% | -27.56% | -28.07% |
| Sharpe | -1.03 | -0.04 | -0.67 | -0.62 |
| Sortino | -1.35 | -0.06 | -0.90 | -0.84 |
Price sensitivity to rates: the longer, the more the fund moves. What is duration →
Source: product page Xtrackers, data as of 20 August 2026. Values as declared by the issuer, not computed by us; updated with the monthly document.
| Fund | TER | Income | Fund size |
|---|---|---|---|
Xtrackers | 0.16% | Acc. | 251 mln EUR |
| Exchange | Ticker | Trading since |
|---|---|---|
| Börse Düsseldorf | XZBE | 14 Dec 2020 |
| Börse Frankfurt | XZBE | 2 Dec 2020 |
| Börse Hamburg | XZBE | 15 Feb 2021 |
| Börse Hannover | XZBE | 9 Dec 2024 |
| Börse München / gettex | XZBE | 2 Dec 2020 |
| Börse Stuttgart | XZBE | 8 Feb 2021 |
| Tradegate Exchange | XZBE | 13 Jan 2023 |
| Xetra (Deutsche Börse) | XZBE | 2 Dec 2020 |