DBZB.DE vs. HGGA.DE
DBZB.DE (Xtrackers II Global Government Bond UCITS ETF EUR Hedged) and HGGA.DE (HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF) are both Global Bonds funds - DBZB.DE tracks the FTSE World Government Bond - Developed Markets (EUR Hedged) while HGGA.DE tracks the Bloomberg MSCI Global Aggregate 1-3 SRI Carbon ESG-Weighted. Both are passively managed. Over the past 3 years, DBZB.DE returned 0.76%/yr vs 0.90%/yr for HGGA.DE. At a 0.12 correlation, their price movements are largely independent. DBZB.DE charges 0.25%/yr vs 0.18%/yr for HGGA.DE.
Performance
DBZB.DE vs. HGGA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, DBZB.DE achieves a -0.71% return, which is significantly lower than HGGA.DE's 1.31% return.
DBZB.DE
- 1D
- 0.15%
- 1M
- 0.28%
- YTD
- -0.71%
- 6M
- -1.15%
- 1Y
- -0.05%
- 3Y*
- 0.76%
- 5Y*
- -2.54%
- 10Y*
- -0.99%
HGGA.DE
- 1D
- 0.00%
- 1M
- 0.48%
- YTD
- 1.31%
- 6M
- 0.93%
- 1Y
- 0.17%
- 3Y*
- 0.90%
- 5Y*
- —
- 10Y*
- —
DBZB.DE vs. HGGA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DBZB.DE Xtrackers II Global Government Bond UCITS ETF EUR Hedged | -0.71% | 1.28% | -0.41% | 3.56% | -13.84% |
HGGA.DE HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF | 1.31% | -4.17% | 5.69% | 0.16% | -1.86% |
Correlation
The correlation between DBZB.DE and HGGA.DE is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2022 | 0.12 |
The correlation between DBZB.DE and HGGA.DE shifts across timeframes, from -0.10 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DBZB.DE vs. HGGA.DE — Risk / Return Rank
DBZB.DE
HGGA.DE
DBZB.DE vs. HGGA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II Global Government Bond UCITS ETF EUR Hedged (DBZB.DE) and HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF (HGGA.DE). 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.
| DBZB.DE | HGGA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.01 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.01 | 0.08 | -0.10 |
| Martin ratioReturn relative to average drawdown | -0.04 | 0.17 | -0.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DBZB.DE | HGGA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.01 | 0.05 | -0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.47 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.21 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.04 | +0.18 |
Drawdowns
DBZB.DE vs. HGGA.DE - Drawdown Comparison
The maximum DBZB.DE drawdown since its inception was -21.88%, which is greater than HGGA.DE's maximum drawdown of -8.58%. Use the drawdown chart below to compare losses from any high point for DBZB.DE and HGGA.DE.
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Drawdown Indicators
| DBZB.DE | HGGA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.88% | -8.58% | -13.30% |
Max Drawdown (1Y)Largest decline over 1 year | -3.52% | -2.04% | -1.48% |
Max Drawdown (3Y)Largest decline over 3 years | -5.14% | -6.78% | +1.64% |
Max Drawdown (5Y)Largest decline over 5 years | -19.51% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -21.88% | — | — |
Current DrawdownCurrent decline from peak | -16.44% | -4.56% | -11.88% |
Average DrawdownAverage peak-to-trough decline | -5.97% | -4.18% | -1.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.26% | 1.02% | +0.24% |
Volatility
DBZB.DE vs. HGGA.DE - Volatility Comparison
Xtrackers II Global Government Bond UCITS ETF EUR Hedged (DBZB.DE) has a higher volatility of 1.48% compared to HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF (HGGA.DE) at 0.53%. This indicates that DBZB.DE's price experiences larger fluctuations and is considered to be riskier than HGGA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBZB.DE | HGGA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 0.53% | +0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 3.06% | 2.33% | +0.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.86% | 3.42% | +0.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.37% | 4.98% | +0.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.74% | 4.98% | -0.24% |
DBZB.DE vs. HGGA.DE - Expense Ratio Comparison
DBZB.DE has a 0.25% expense ratio, which is higher than HGGA.DE's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
DBZB.DE vs. HGGA.DE - Dividend Comparison
Neither DBZB.DE nor HGGA.DE has paid dividends to shareholders.
Frequently Asked Questions
DBZB.DE and HGGA.DE have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HGGA.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HGGA.DE is cheaper with a 0.18% expense ratio, compared with 0.25% for DBZB.DE.
DBZB.DE tracks FTSE World Government Bond - Developed Markets (EUR Hedged), while HGGA.DE tracks Bloomberg MSCI Global Aggregate 1-3 SRI Carbon ESG-Weighted. They also come from different issuers: Xtrackers and HSBC. Their fees differ too: 0.25% for DBZB.DE and 0.18% for HGGA.DE.
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