AGHG.L vs. XGSG.L

Last updated Jun 26, 2026

AGHG.L (Amundi Index Global Aggregate 500M UCITS ETF DR - Hedged GBP (D)) and XGSG.L (Xtrackers II Global Government Bond UCITS ETF 2D GBP Hedged) are both Global Bonds funds tracking the Bloomberg Global Aggregate TR Hdg GBP, from Amundi and Xtrackers respectively. Both are passively managed. Over the past 3 years, AGHG.L returned 3.71%/yr vs 2.61%/yr for XGSG.L. Their correlation of 0.87 suggests significant overlap in exposure. AGHG.L charges 0.08%/yr vs 0.25%/yr for XGSG.L.

Performance

AGHG.L vs. XGSG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Amundi Index Global Aggregate 500M UCITS ETF DR - Hedged GBP (D) (AGHG.L) and Xtrackers II Global Government Bond UCITS ETF 2D GBP Hedged (XGSG.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AGHG.L achieves a 1.18% return, which is significantly higher than XGSG.L's 0.72% return.

AGHG.L

• 1D: 0.06%
• 1M: 0.97%
• YTD: 1.18%
• 6M: 1.50%
• 1Y: 3.38%
• 3Y*: 3.71%
• 5Y*: —
• 10Y*: —

XGSG.L

• 1D: 0.13%
• 1M: 1.29%
• YTD: 0.72%
• 6M: 0.84%
• 1Y: 2.37%
• 3Y*: 2.61%
• 5Y*: -0.90%
• 10Y*: 0.17%

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

AGHG.L vs. XGSG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AGHG.L Amundi Index Global Aggregate 500M UCITS ETF DR - Hedged GBP (D)	1.18%	4.32%	2.99%	5.41%	-11.93%	-0.37%
XGSG.L Xtrackers II Global Government Bond UCITS ETF 2D GBP Hedged	0.72%	3.60%	1.17%	4.98%	-13.98%	-0.73%

Correlation

The correlation between AGHG.L and XGSG.L is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jul 12, 2021	0.87

The correlation between AGHG.L and XGSG.L shifts across timeframes, from 0.71 (1 year) to 0.87 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AGHG.L vs. XGSG.L — Risk / Return Rank

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

AGHG.L

AGHG.L Risk / Return Rank: 34
AGHG.L Sharpe Ratio Rank: 36
AGHG.L Sortino Ratio Rank: 37
AGHG.L Omega Ratio Rank: 33
AGHG.L Calmar Ratio Rank: 33
AGHG.L Martin Ratio Rank: 31

XGSG.L

XGSG.L Risk / Return Rank: 16
XGSG.L Sharpe Ratio Rank: 16
XGSG.L Sortino Ratio Rank: 14
XGSG.L Omega Ratio Rank: 15
XGSG.L Calmar Ratio Rank: 18
XGSG.L Martin Ratio Rank: 18

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.

AGHG.L vs. XGSG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi Index Global Aggregate 500M UCITS ETF DR - Hedged GBP (D) (AGHG.L) and Xtrackers II Global Government Bond UCITS ETF 2D GBP Hedged (XGSG.L). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AGHG.L	XGSG.L	Difference
Sharpe ratio: Return per unit of total volatility	1.20	0.48	+0.71
Sortino ratio: Return per unit of downside risk	1.78	0.70	+1.08
Omega ratio: Gain probability vs. loss probability	1.21	1.10	+0.11
Calmar ratio: Return relative to maximum drawdown	1.50	0.74	+0.77
Martin ratio: Return relative to average drawdown	4.16	1.97	+2.18

AGHG.L vs. XGSG.L - Sharpe Ratio Comparison

The current AGHG.L Sharpe Ratio is 1.20, which is higher than the XGSG.L Sharpe Ratio of 0.48. The chart below compares the historical Sharpe Ratios of AGHG.L and XGSG.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AGHG.L vs. XGSG.L - Drawdown Comparison

The maximum AGHG.L drawdown since its inception was -15.71%, smaller than the maximum XGSG.L drawdown of -18.53%. Use the drawdown chart below to compare losses from any high point for AGHG.L and XGSG.L.

Drawdown Indicators

	AGHG.L	XGSG.L	Difference
Max Drawdown Largest peak-to-trough decline	-15.71%	-18.53%	+2.82%
Max Drawdown (1Y) Largest decline over 1 year	-2.24%	-3.20%	+0.96%
Max Drawdown (3Y) Largest decline over 3 years	-4.02%	-4.28%	+0.26%
Max Drawdown (5Y) Largest decline over 5 years	—	-17.29%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-18.53%	—
Current Drawdown Current decline from peak	-1.18%	-7.89%	+6.71%
Average Drawdown Average peak-to-trough decline	-7.30%	-4.88%	-2.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.81%	1.20%	-0.39%

Volatility

AGHG.L vs. XGSG.L - Volatility Comparison

The current volatility for Amundi Index Global Aggregate 500M UCITS ETF DR - Hedged GBP (D) (AGHG.L) is 0.87%, while Xtrackers II Global Government Bond UCITS ETF 2D GBP Hedged (XGSG.L) has a volatility of 1.07%. This indicates that AGHG.L experiences smaller price fluctuations and is considered to be less risky than XGSG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AGHG.L	XGSG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.87%	1.07%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	2.24%	2.96%	-0.72%
Volatility (1Y) Calculated over the trailing 1-year period	2.82%	4.87%	-2.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.12%	5.41%	-1.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.12%	4.55%	-0.43%

AGHG.L vs. XGSG.L - Expense Ratio Comparison

AGHG.L has a 0.08% expense ratio, which is lower than XGSG.L'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%.

Dividends

AGHG.L vs. XGSG.L - Dividend Comparison

AGHG.L's dividend yield for the trailing twelve months is around 2.95%, more than XGSG.L's 2.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGHG.L Amundi Index Global Aggregate 500M UCITS ETF DR - Hedged GBP (D)	2.95%	2.98%	2.77%	2.55%	2.18%	0.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XGSG.L Xtrackers II Global Government Bond UCITS ETF 2D GBP Hedged	2.82%	2.60%	2.64%	1.78%	2.68%	1.62%	0.96%	0.70%	0.61%	0.74%	0.92%	0.67%

Frequently Asked Questions

Can I hold both AGHG.L and XGSG.L in my portfolio?

AGHG.L and XGSG.L have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AGHG.L or XGSG.L?

On fees, AGHG.L is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AGHG.L or XGSG.L?

AGHG.L is cheaper with a 0.08% expense ratio, compared with 0.25% for XGSG.L.

What is the main difference between AGHG.L and XGSG.L?

Both ETFs track Bloomberg Global Aggregate TR Hdg GBP. They also come from different issuers: Amundi and Xtrackers. Their fees differ too: 0.08% for AGHG.L and 0.25% for XGSG.L.