GOVD.L vs. XG7S.L

Last updated Jun 5, 2026

GOVD.L (Lyxor Core Global Government Bond (DR) UCITS ETF - Dist) and XG7S.L (Xtrackers Global Government Bond UCITS ETF 5C) are both Global Bonds funds tracking the Bloomberg Global Aggregate TR USD, from Amundi and Xtrackers respectively. Both are passively managed. Over the past 5 years, GOVD.L returned -1.56%/yr vs -2.31%/yr for XG7S.L. A 0.56 correlation means they provide meaningful diversification when combined. GOVD.L charges 0.09%/yr vs 0.20%/yr for XG7S.L.

Performance

GOVD.L vs. XG7S.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Lyxor Core Global Government Bond (DR) UCITS ETF - Dist (GOVD.L) and Xtrackers Global Government Bond UCITS ETF 5C (XG7S.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

GOVD.L is traded in GBP, while XG7S.L is traded in GBp. To make them comparable, the XG7S.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, GOVD.L achieves a -26.36% return, which is significantly lower than XG7S.L's -0.90% return.

GOVD.L

• 1D: 0.09%
• 1M: -25.74%
• YTD: -26.36%
• 6M: -2.20%
• 1Y: 0.47%
• 3Y*: 0.21%
• 5Y*: -1.56%
• 10Y*: —

XG7S.L

• 1D: 0.15%
• 1M: 0.81%
• YTD: -0.90%
• 6M: -1.39%
• 1Y: 1.33%
• 3Y*: -0.62%
• 5Y*: -2.31%
• 10Y*: 0.03%

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

GOVD.L vs. XG7S.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
GOVD.L Lyxor Core Global Government Bond (DR) UCITS ETF - Dist	-26.36%	33.30%	1.30%	-0.61%	-8.32%	-5.61%	-4.31%
XG7S.L Xtrackers Global Government Bond UCITS ETF 5C	-0.90%	-0.22%	-1.85%	-0.74%	-8.86%	-6.63%	-3.92%

Correlation

The correlation between GOVD.L and XG7S.L is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (All Time) Calculated using the full available price history since Jul 1, 2020	0.56

The correlation between GOVD.L and XG7S.L has been stable across timeframes, ranging from 0.56 to 0.59 - a consistent structural relationship.

Return for Risk

GOVD.L vs. XG7S.L — Risk / Return Rank

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

GOVD.L

GOVD.L Risk / Return Rank: 22
GOVD.L Sharpe Ratio Rank: 9
GOVD.L Sortino Ratio Rank: 29
GOVD.L Omega Ratio Rank: 55
GOVD.L Calmar Ratio Rank: 9
GOVD.L Martin Ratio Rank: 9

XG7S.L

XG7S.L Risk / Return Rank: 11
XG7S.L Sharpe Ratio Rank: 10
XG7S.L Sortino Ratio Rank: 10
XG7S.L Omega Ratio Rank: 15
XG7S.L Calmar Ratio Rank: 10
XG7S.L Martin Ratio Rank: 10

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.

GOVD.L vs. XG7S.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lyxor Core Global Government Bond (DR) UCITS ETF - Dist (GOVD.L) and Xtrackers Global Government Bond UCITS ETF 5C (XG7S.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.

	GOVD.L	XG7S.L	Difference
Sharpe ratio: Return per unit of total volatility	0.00	0.07	-0.07
Sortino ratio: Return per unit of downside risk	1.56	0.26	+1.30
Omega ratio: Gain probability vs. loss probability	1.33	1.08	+0.25
Calmar ratio: Return relative to maximum drawdown	0.02	0.10	-0.08
Martin ratio: Return relative to average drawdown	0.03	0.13	-0.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GOVD.L vs. XG7S.L - Sharpe Ratio Comparison

The current GOVD.L Sharpe Ratio is 0.00, which is lower than the XG7S.L Sharpe Ratio of 0.07. The chart below compares the historical Sharpe Ratios of GOVD.L and XG7S.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.

Sharpe Ratios by Period

	GOVD.L	XG7S.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.00	0.07	-0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.02	-0.26	+0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.00	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.04	0.15	-0.19

Drawdowns

GOVD.L vs. XG7S.L - Drawdown Comparison

The maximum GOVD.L drawdown since its inception was -28.26%, which is greater than XG7S.L's maximum drawdown of -25.59%. Use the drawdown chart below to compare losses from any high point for GOVD.L and XG7S.L.

Drawdown Indicators

	GOVD.L	XG7S.L	Difference
Max Drawdown Largest peak-to-trough decline	-28.26%	-25.59%	-2.67%
Max Drawdown (1Y) Largest decline over 1 year	-28.26%	-15.40%	-12.86%
Max Drawdown (3Y) Largest decline over 3 years	-28.26%	-15.40%	-12.86%
Max Drawdown (5Y) Largest decline over 5 years	-28.26%	-16.70%	-11.56%
Max Drawdown (10Y) Largest decline over 10 years	—	-25.59%	—
Current Drawdown Current decline from peak	-27.56%	-23.76%	-3.80%
Average Drawdown Average peak-to-trough decline	-14.81%	-15.52%	+0.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.71%	10.76%	+3.95%

Volatility

GOVD.L vs. XG7S.L - Volatility Comparison

Lyxor Core Global Government Bond (DR) UCITS ETF - Dist (GOVD.L) has a higher volatility of 79.65% compared to Xtrackers Global Government Bond UCITS ETF 5C (XG7S.L) at 1.44%. This indicates that GOVD.L's price experiences larger fluctuations and is considered to be riskier than XG7S.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GOVD.L	XG7S.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	79.65%	1.44%	+78.21%
Volatility (6M) Calculated over the trailing 6-month period	189.97%	3.54%	+186.43%
Volatility (1Y) Calculated over the trailing 1-year period	193.34%	20.76%	+172.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	87.07%	14.16%	+72.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	80.35%	14.59%	+65.76%

GOVD.L vs. XG7S.L - Expense Ratio Comparison

GOVD.L has a 0.09% expense ratio, which is lower than XG7S.L's 0.20% 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

GOVD.L vs. XG7S.L - Dividend Comparison

GOVD.L's dividend yield for the trailing twelve months is around 2.71%, while XG7S.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
GOVD.L Lyxor Core Global Government Bond (DR) UCITS ETF - Dist	2.71%	1.99%	5.59%	2.06%	1.54%	1.67%	0.65%
XG7S.L Xtrackers Global Government Bond UCITS ETF 5C	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GOVD.L and XG7S.L in my portfolio?

GOVD.L and XG7S.L have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GOVD.L or XG7S.L?

On fees, GOVD.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GOVD.L or XG7S.L?

GOVD.L is cheaper with a 0.09% expense ratio, compared with 0.20% for XG7S.L.

What is the main difference between GOVD.L and XG7S.L?

Both ETFs track Bloomberg Global Aggregate TR USD. They also come from different issuers: Amundi and Xtrackers. Their fees differ too: 0.09% for GOVD.L and 0.20% for XG7S.L.