HGGA.DE vs. XZWG.DE
HGGA.DE (HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF) and XZWG.DE (Xtrackers II ESG Global Government Bond UCITS ETF) are both Global Bonds funds - HGGA.DE tracks the Bloomberg MSCI Global Aggregate 1-3 SRI Carbon ESG-Weighted while XZWG.DE tracks the Bloomberg Global Aggregate TR Hdg EUR. Both are passively managed. Over the past 3 years, HGGA.DE returned 0.90%/yr vs -0.15%/yr for XZWG.DE. A 0.53 correlation means they provide meaningful diversification when combined. HGGA.DE charges 0.18%/yr vs 0.20%/yr for XZWG.DE.
Performance
HGGA.DE vs. XZWG.DE - Performance Comparison
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Returns By Period
In the year-to-date period, HGGA.DE achieves a 1.31% return, which is significantly higher than XZWG.DE's 0.27% return.
HGGA.DE
- 1D
- 0.00%
- 1M
- 0.50%
- YTD
- 1.31%
- 6M
- 0.88%
- 1Y
- 0.39%
- 3Y*
- 0.90%
- 5Y*
- —
- 10Y*
- —
XZWG.DE
- 1D
- 0.08%
- 1M
- 0.23%
- YTD
- 0.27%
- 6M
- -0.11%
- 1Y
- -1.04%
- 3Y*
- -0.15%
- 5Y*
- —
- 10Y*
- —
HGGA.DE vs. XZWG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HGGA.DE HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF | 1.31% | -4.17% | 5.69% | 0.16% | -1.86% |
XZWG.DE Xtrackers II ESG Global Government Bond UCITS ETF | 0.27% | -4.17% | 1.51% | 2.50% | -15.59% |
Correlation
The correlation between HGGA.DE and XZWG.DE is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2022 | 0.53 |
The correlation between HGGA.DE and XZWG.DE has been stable across timeframes, ranging from 0.47 to 0.53 - a consistent structural relationship.
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Return for Risk
HGGA.DE vs. XZWG.DE — Risk / Return Rank
HGGA.DE
XZWG.DE
HGGA.DE vs. XZWG.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF (HGGA.DE) and Xtrackers II ESG Global Government Bond UCITS ETF (XZWG.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.
| HGGA.DE | XZWG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.40 | ||
| Sortino ratioReturn per unit of downside risk | +0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 0.95 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.08 | -0.51 | +0.60 |
| Martin ratioReturn relative to average drawdown | 0.17 | -0.97 | +1.14 |
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
| HGGA.DE | XZWG.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.05 | -0.35 | +0.40 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.04 | -0.64 | +0.68 |
Drawdowns
HGGA.DE vs. XZWG.DE - Drawdown Comparison
The maximum HGGA.DE drawdown since its inception was -8.58%, smaller than the maximum XZWG.DE drawdown of -20.85%. Use the drawdown chart below to compare losses from any high point for HGGA.DE and XZWG.DE.
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Drawdown Indicators
| HGGA.DE | XZWG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.58% | -20.85% | +12.27% |
Max Drawdown (1Y)Largest decline over 1 year | -2.04% | -2.66% | +0.62% |
Max Drawdown (3Y)Largest decline over 3 years | -6.78% | -7.10% | +0.32% |
Current DrawdownCurrent decline from peak | -4.56% | -17.96% | +13.40% |
Average DrawdownAverage peak-to-trough decline | -4.18% | -15.29% | +11.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 1.41% | -0.39% |
Volatility
HGGA.DE vs. XZWG.DE - Volatility Comparison
The current volatility for HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF (HGGA.DE) is 0.53%, while Xtrackers II ESG Global Government Bond UCITS ETF (XZWG.DE) has a volatility of 1.43%. This indicates that HGGA.DE experiences smaller price fluctuations and is considered to be less risky than XZWG.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HGGA.DE | XZWG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.53% | 1.43% | -0.90% |
Volatility (6M)Calculated over the trailing 6-month period | 2.33% | 2.90% | -0.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.42% | 3.87% | -0.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.98% | 6.68% | -1.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.98% | 6.68% | -1.70% |
HGGA.DE vs. XZWG.DE - Expense Ratio Comparison
HGGA.DE has a 0.18% expense ratio, which is lower than XZWG.DE'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
HGGA.DE vs. XZWG.DE - Dividend Comparison
HGGA.DE has not paid dividends to shareholders, while XZWG.DE's dividend yield for the trailing twelve months is around 2.58%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HGGA.DE HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XZWG.DE Xtrackers II ESG Global Government Bond UCITS ETF | 2.58% | 2.53% | 2.56% | 1.74% | 1.16% |
Frequently Asked Questions
HGGA.DE and XZWG.DE have a correlation of 0.47, 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 0.20% for XZWG.DE.
HGGA.DE tracks Bloomberg MSCI Global Aggregate 1-3 SRI Carbon ESG-Weighted, while XZWG.DE tracks Bloomberg Global Aggregate TR Hdg EUR. They also come from different issuers: HSBC and DWS. Their fees differ too: 0.18% for HGGA.DE and 0.20% for XZWG.DE.
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