iShares Core Global Aggregate Bond EUR-H vs Xtrackers II Germany Government Bond

They track different indices: iShares Core Global Aggregate Bond EUR-H follows Bloomberg Global Aggregate and Xtrackers II Germany Government Bond follows Bloomberg Germany Treasury. They also differ in cost (0.10% vs 0.15% TER), replication (physical vs physical) and domicile (Irlanda vs Luxemburgo).

Nobody can know that: they track different indices, so their returns will diverge, and past index performance is not a prediction. What you can control today is the cost, the tax structure and whether the index actually covers what you want exposure to.

iShares Core Global Aggregate Bond EUR-H has the lower annual fee. Applying the same 7% gross return to both with €300/month, that fee gap alone is worth about €943 after 20 years — that part is arithmetic, not a forecast.

iShares Core Global Aggregate Bond EUR-H is accumulating (dividends are reinvested inside the fund) and Xtrackers II Germany Government Bond is distributing (dividends are paid out to you). For long-term compounding in Spain, accumulating usually defers taxation; distributing gives you income you are taxed on each year.

Yes. Unlike two funds tracking the identical index, these give you genuinely different exposure, so holding both is not automatically redundant — just be aware you may end up overlapping on the largest companies and doubling your rebalancing work.