AGAC.AS vs. XUSE.AS

Last updated Apr 2, 2026

Compare and contrast key facts about iShares Core Global Aggregate Bond UCITS ETF USD (Acc) (AGAC.AS) and iShares MSCI World ex-USA UCITS ETF (XUSE.AS).

AGAC.AS and XUSE.AS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AGAC.AS is a passively managed fund by iShares that tracks the performance of the BBG Global Aggregate Index (USD). It was launched on Jul 13, 2020. XUSE.AS is a passively managed fund by iShares that tracks the performance of the MSCI World ex USA Index. It was launched on Jan 24, 2025. Both AGAC.AS and XUSE.AS are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

AGAC.AS vs. XUSE.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core Global Aggregate Bond UCITS ETF USD (Acc) (AGAC.AS) and iShares MSCI World ex-USA UCITS ETF (XUSE.AS). The values are adjusted to include any dividend payments, if applicable.

AGAC.AS vs. XUSE.AS - Yearly Performance Comparison

	2026 (YTD)	2025
AGAC.AS iShares Core Global Aggregate Bond UCITS ETF USD (Acc)	-0.49%	7.54%
XUSE.AS iShares MSCI World ex-USA UCITS ETF	2.29%	25.69%

Returns By Period

In the year-to-date period, AGAC.AS achieves a -0.49% return, which is significantly lower than XUSE.AS's 2.29% return.

AGAC.AS

• 1D: 0.73%
• 1M: -1.73%
• YTD: -0.49%
• 6M: -0.25%
• 1Y: 4.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XUSE.AS

• 1D: 3.69%
• 1M: -3.95%
• YTD: 2.29%
• 6M: 7.60%
• 1Y: 26.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AGAC.AS vs. XUSE.AS - Expense Ratio Comparison

AGAC.AS has a 0.10% expense ratio, which is lower than XUSE.AS's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

XUSE.AS

iShares MSCI World ex-USA UCITS ETF

AGAC.AS

iShares Core Global Aggregate Bond UCITS ETF USD (Acc)

Return for Risk

AGAC.AS vs. XUSE.AS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AGAC.AS

AGAC.AS Risk / Return Rank: 39
AGAC.AS Sharpe Ratio Rank: 47
AGAC.AS Sortino Ratio Rank: 47
AGAC.AS Omega Ratio Rank: 39
AGAC.AS Calmar Ratio Rank: 30
AGAC.AS Martin Ratio Rank: 30

XUSE.AS

XUSE.AS Risk / Return Rank: 85
XUSE.AS Sharpe Ratio Rank: 82
XUSE.AS Sortino Ratio Rank: 82
XUSE.AS Omega Ratio Rank: 80
XUSE.AS Calmar Ratio Rank: 91
XUSE.AS Martin Ratio Rank: 92

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AGAC.AS vs. XUSE.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core Global Aggregate Bond UCITS ETF USD (Acc) (AGAC.AS) and iShares MSCI World ex-USA UCITS ETF (XUSE.AS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AGAC.AS	XUSE.AS	Difference
Sharpe ratio Return per unit of total volatility	0.91	1.63	-0.71
Sortino ratio Return per unit of downside risk	1.38	2.21	-0.84
Omega ratio Gain probability vs. loss probability	1.17	1.32	-0.15
Calmar ratio Return relative to maximum drawdown	0.90	3.37	-2.47
Martin ratio Return relative to average drawdown	2.92	13.52	-10.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AGAC.AS vs. XUSE.AS - Sharpe Ratio Comparison

The current AGAC.AS Sharpe Ratio is 0.91, which is lower than the XUSE.AS Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of AGAC.AS and XUSE.AS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	AGAC.AS	XUSE.AS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.91	1.63	-0.71
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	1.48	-0.58

Correlation

The correlation between AGAC.AS and XUSE.AS is 0.46, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

AGAC.AS vs. XUSE.AS - Dividend Comparison

Neither AGAC.AS nor XUSE.AS has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

AGAC.AS vs. XUSE.AS - Drawdown Comparison

The maximum AGAC.AS drawdown since its inception was -6.87%, smaller than the maximum XUSE.AS drawdown of -12.97%. Use the drawdown chart below to compare losses from any high point for AGAC.AS and XUSE.AS.

Drawdown Indicators

	AGAC.AS	XUSE.AS	Difference
Max Drawdown Largest peak-to-trough decline	-6.87%	-12.97%	+6.10%
Max Drawdown (1Y) Largest decline over 1 year	-3.39%	-10.54%	+7.15%
Current Drawdown Current decline from peak	-2.34%	-6.24%	+3.90%
Average Drawdown Average peak-to-trough decline	-1.57%	-1.59%	+0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.04%	2.62%	-1.58%

Volatility

AGAC.AS vs. XUSE.AS - Volatility Comparison

The current volatility for iShares Core Global Aggregate Bond UCITS ETF USD (Acc) (AGAC.AS) is 1.95%, while iShares MSCI World ex-USA UCITS ETF (XUSE.AS) has a volatility of 6.99%. This indicates that AGAC.AS experiences smaller price fluctuations and is considered to be less risky than XUSE.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AGAC.AS	XUSE.AS	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.95%	6.99%	-5.04%
Volatility (6M) Calculated over the trailing 6-month period	3.21%	10.82%	-7.61%
Volatility (1Y) Calculated over the trailing 1-year period	5.15%	15.94%	-10.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.38%	16.06%	-10.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.38%	16.06%	-10.68%