GOVD.L vs. XGSI.L

Last updated Apr 2, 2026

Compare and contrast key facts about Lyxor Core Global Government Bond (DR) UCITS ETF - Dist (GOVD.L) and Xtrackers Global Government Bond UCITS ETF 3C USD hedged (XGSI.L).

GOVD.L and XGSI.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GOVD.L is a passively managed fund by Amundi that tracks the performance of the Bloomberg Global Aggregate TR USD. It was launched on Jun 24, 2020. XGSI.L is a passively managed fund by DWS that tracks the performance of the Bloomberg Global Aggregate TR Hdg USD. It was launched on Apr 18, 2017. Both GOVD.L and XGSI.L 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

GOVD.L vs. XGSI.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 3C USD hedged (XGSI.L). The values are adjusted to include any dividend payments, if applicable.

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020
GOVD.L Lyxor Core Global Government Bond (DR) UCITS ETF - Dist	-25.65%	33.30%	1.30%	-0.61%	-8.32%	-5.61%	-4.31%
XGSI.L Xtrackers Global Government Bond UCITS ETF 3C USD hedged	1.29%	-3.42%	3.01%	0.55%	-3.00%	-1.56%	-8.64%

Different Trading Currencies

GOVD.L is traded in GBP, while XGSI.L is traded in USD. To make them comparable, the XGSI.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 -25.65% return, which is significantly lower than XGSI.L's 1.29% return.

GOVD.L

• 1D: -0.32%
• 1M: -1.62%
• YTD: -25.65%
• 6M: -0.70%
• 1Y: -0.69%
• 3Y*: -0.19%
• 5Y*: -1.55%
• 10Y*: —

XGSI.L

• 1D: -0.02%
• 1M: -0.42%
• YTD: 1.29%
• 6M: 2.98%
• 1Y: -0.22%
• 3Y*: 0.12%
• 5Y*: 0.18%
• 10Y*: —

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

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

GOVD.L has a 0.09% expense ratio, which is lower than XGSI.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%.

XGSI.L

Xtrackers Global Government Bond UCITS ETF 3C USD hedged

GOVD.L

Lyxor Core Global Government Bond (DR) UCITS ETF - Dist

Return for Risk

GOVD.L vs. XGSI.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: 31
GOVD.L Sharpe Ratio Rank: 11
GOVD.L Sortino Ratio Rank: 42
GOVD.L Omega Ratio Rank: 79
GOVD.L Calmar Ratio Rank: 11
GOVD.L Martin Ratio Rank: 11

XGSI.L

XGSI.L Risk / Return Rank: 26
XGSI.L Sharpe Ratio Rank: 26
XGSI.L Sortino Ratio Rank: 24
XGSI.L Omega Ratio Rank: 23
XGSI.L Calmar Ratio Rank: 31
XGSI.L Martin Ratio Rank: 28

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. XGSI.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 3C USD hedged (XGSI.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	XGSI.L	Difference
Sharpe ratio Return per unit of total volatility	-0.00	-0.03	+0.02
Sortino ratio Return per unit of downside risk	1.25	0.01	+1.24
Omega ratio Gain probability vs. loss probability	1.32	1.00	+0.32
Calmar ratio Return relative to maximum drawdown	-0.01	0.06	-0.07
Martin ratio Return relative to average drawdown	-0.03	0.09	-0.12
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. XGSI.L - Sharpe Ratio Comparison

The current GOVD.L Sharpe Ratio is -0.00, which is higher than the XGSI.L Sharpe Ratio of -0.03. The chart below compares the historical Sharpe Ratios of GOVD.L and XGSI.L, 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

	GOVD.L	XGSI.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.00	-0.03	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.02	0.02	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	-0.05	0.07	-0.12

Correlation

The correlation between GOVD.L and XGSI.L is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

GOVD.L vs. XGSI.L - Dividend Comparison

GOVD.L's dividend yield for the trailing twelve months is around 2.68%, while XGSI.L has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020
GOVD.L Lyxor Core Global Government Bond (DR) UCITS ETF - Dist	2.68%	1.99%	5.59%	2.06%	1.54%	1.67%	0.65%
XGSI.L Xtrackers Global Government Bond UCITS ETF 3C USD hedged	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

GOVD.L vs. XGSI.L - Drawdown Comparison

The maximum GOVD.L drawdown since its inception was -27.60%, which is greater than XGSI.L's maximum drawdown of -22.36%. Use the drawdown chart below to compare losses from any high point for GOVD.L and XGSI.L.

Drawdown Indicators

	GOVD.L	XGSI.L	Difference
Max Drawdown Largest peak-to-trough decline	-27.60%	-17.29%	-10.31%
Max Drawdown (1Y) Largest decline over 1 year	-27.60%	-2.64%	-24.96%
Max Drawdown (5Y) Largest decline over 5 years	-27.60%	-16.39%	-11.21%
Current Drawdown Current decline from peak	-26.86%	-6.48%	-20.38%
Average Drawdown Average peak-to-trough decline	-14.83%	-5.67%	-9.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.69%	0.93%	+11.76%

Volatility

GOVD.L vs. XGSI.L - Volatility Comparison

Lyxor Core Global Government Bond (DR) UCITS ETF - Dist (GOVD.L) has a higher volatility of 42.00% compared to Xtrackers Global Government Bond UCITS ETF 3C USD hedged (XGSI.L) at 2.67%. This indicates that GOVD.L's price experiences larger fluctuations and is considered to be riskier than XGSI.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GOVD.L	XGSI.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	42.00%	2.67%	+39.33%
Volatility (6M) Calculated over the trailing 6-month period	153.76%	5.23%	+148.53%
Volatility (1Y) Calculated over the trailing 1-year period	156.71%	7.70%	+149.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	70.66%	9.06%	+61.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.16%	9.32%	+56.84%