IAAA.L vs. XG7S.L
IAAA.L (iShares Global AAA-AA Government Bond UCITS) and XG7S.L (Xtrackers Global Government Bond UCITS ETF 5C) are both Global Bonds funds tracking the Bloomberg Global Aggregate TR USD, from iShares and Xtrackers respectively. Both are passively managed. Over the past 10 years, IAAA.L returned -0.36%/yr vs -0.70%/yr for XG7S.L. At a 0.32 correlation, their price movements are largely independent. Both charge a 0.20% expense ratio.
Performance
IAAA.L vs. XG7S.L - Performance Comparison
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Different Trading Currencies
IAAA.L is traded in USD, while XG7S.L is traded in GBp. To make them comparable, the XG7S.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IAAA.L achieves a 0.13% return, which is significantly higher than XG7S.L's -1.14% return. Over the past 10 years, IAAA.L has outperformed XG7S.L with an annualized return of -0.36%, while XG7S.L has yielded a comparatively lower -0.70% annualized return.
IAAA.L
- 1D
- 0.19%
- 1M
- 0.02%
- YTD
- 0.13%
- 6M
- 1.27%
- 1Y
- 2.00%
- 3Y*
- 3.96%
- 5Y*
- -3.01%
- 10Y*
- -0.36%
XG7S.L
- 1D
- 0.20%
- 1M
- -0.05%
- YTD
- -1.14%
- 6M
- -0.66%
- 1Y
- 0.37%
- 3Y*
- 1.91%
- 5Y*
- -3.33%
- 10Y*
- -0.70%
IAAA.L vs. XG7S.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAAA.L iShares Global AAA-AA Government Bond UCITS | 0.13% | 10.70% | -5.21% | 8.69% | -21.12% | -8.15% | 12.09% | 4.75% | -2.34% | 9.35% |
XG7S.L Xtrackers Global Government Bond UCITS ETF 5C | -1.14% | 7.31% | -2.83% | 4.08% | -18.83% | -6.32% | 9.10% | 5.98% | -1.06% | 7.03% |
Correlation
The correlation between IAAA.L and XG7S.L is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.32 |
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Return for Risk
IAAA.L vs. XG7S.L — Risk / Return Rank
IAAA.L
XG7S.L
IAAA.L vs. XG7S.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global AAA-AA Government Bond UCITS (IAAA.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.
| IAAA.L | XG7S.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.34 | ||
| Sortino ratioReturn per unit of downside risk | +0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.05 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.77 | 0.03 | +0.74 |
| Martin ratioReturn relative to average drawdown | 1.90 | 0.04 | +1.86 |
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
| IAAA.L | XG7S.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.36 | 0.02 | +0.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.42 | -0.36 | -0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.06 | -0.10 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.07 | 0.03 | -0.10 |
Drawdowns
IAAA.L vs. XG7S.L - Drawdown Comparison
The maximum IAAA.L drawdown since its inception was -32.79%, which is greater than XG7S.L's maximum drawdown of -29.34%. Use the drawdown chart below to compare losses from any high point for IAAA.L and XG7S.L.
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Drawdown Indicators
| IAAA.L | XG7S.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.79% | -29.34% | -3.45% |
Max Drawdown (1Y)Largest decline over 1 year | -4.11% | -14.93% | +10.82% |
Max Drawdown (3Y)Largest decline over 3 years | -10.21% | -14.93% | +4.72% |
Max Drawdown (5Y)Largest decline over 5 years | -30.57% | -26.88% | -3.69% |
Max Drawdown (10Y)Largest decline over 10 years | -32.79% | -29.34% | -3.45% |
Current DrawdownCurrent decline from peak | -17.30% | -19.48% | +2.18% |
Average DrawdownAverage peak-to-trough decline | -10.59% | -13.19% | +2.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.98% | 10.24% | -8.26% |
Volatility
IAAA.L vs. XG7S.L - Volatility Comparison
iShares Global AAA-AA Government Bond UCITS (IAAA.L) has a higher volatility of 2.59% compared to Xtrackers Global Government Bond UCITS ETF 5C (XG7S.L) at 2.07%. This indicates that IAAA.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.
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Volatility by Period
| IAAA.L | XG7S.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.59% | 2.07% | +0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 5.78% | 4.71% | +1.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.83% | 21.06% | -12.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.26% | 14.77% | -3.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.36% | 12.95% | -3.59% |
IAAA.L vs. XG7S.L - Expense Ratio Comparison
Both IAAA.L and XG7S.L have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IAAA.L vs. XG7S.L - Dividend Comparison
IAAA.L's dividend yield for the trailing twelve months is around 2.69%, while XG7S.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAAA.L iShares Global AAA-AA Government Bond UCITS | 2.69% | 2.46% | 2.37% | 1.52% | 0.76% | 0.49% | 0.56% | 0.88% | 0.94% | 0.77% | 0.89% | 1.08% |
XG7S.L Xtrackers Global Government Bond UCITS ETF 5C | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IAAA.L and XG7S.L have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
IAAA.L and XG7S.L have the same expense ratio: 0.20% per year.
Both ETFs track Bloomberg Global Aggregate TR USD. They also come from different issuers: iShares and Xtrackers.
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