IBGS.L vs. XGLE.L
IBGS.L (iShares Euro Government Bond 1-3yr UCITS ETF (Dist)) and XGLE.L (Xtrackers Eurozone Government Bond UCITS ETF 1C) are both European Government Bonds funds - IBGS.L tracks the Bloomberg Euro Agg Govt 1-3 Yr TR EUR while XGLE.L tracks the Bloomberg Euro Agg Govt TR EUR. Both are passively managed. Over the past 10 years, IBGS.L returned 0.74%/yr vs -0.04%/yr for XGLE.L. A 0.71 correlation means they provide meaningful diversification when combined. Both charge a 0.15% expense ratio.
Performance
IBGS.L vs. XGLE.L - Performance Comparison
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Different Trading Currencies
IBGS.L is traded in GBP, while XGLE.L is traded in EUR. To make them comparable, the XGLE.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, IBGS.L achieves a -0.90% return, which is significantly lower than XGLE.L's -0.03% return. Over the past 10 years, IBGS.L has outperformed XGLE.L with an annualized return of 0.74%, while XGLE.L has yielded a comparatively lower -0.04% annualized return.
IBGS.L
- 1D
- -0.07%
- 1M
- -0.03%
- YTD
- -0.90%
- 6M
- -0.70%
- 1Y
- 2.21%
- 3Y*
- 3.02%
- 5Y*
- 0.97%
- 10Y*
- 0.74%
XGLE.L
- 1D
- -0.14%
- 1M
- 0.39%
- YTD
- -0.03%
- 6M
- 0.12%
- 1Y
- 2.22%
- 3Y*
- 2.60%
- 5Y*
- -1.98%
- 10Y*
- -0.04%
IBGS.L vs. XGLE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBGS.L iShares Euro Government Bond 1-3yr UCITS ETF (Dist) | -0.90% | 7.76% | -1.67% | 1.49% | 1.00% | -7.24% | 5.38% | -4.81% | 0.64% | 3.54% |
XGLE.L Xtrackers Eurozone Government Bond UCITS ETF 1C | -0.03% | 5.95% | -2.94% | 4.66% | -14.01% | -9.34% | 10.68% | 0.57% | 1.78% | 4.23% |
Correlation
The correlation between IBGS.L and XGLE.L is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Aug 13, 2009 | 0.71 |
The correlation between IBGS.L and XGLE.L shifts across timeframes, from 0.61 (5 years) to 0.71 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IBGS.L vs. XGLE.L — Risk / Return Rank
IBGS.L
XGLE.L
IBGS.L vs. XGLE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBGS.L) and Xtrackers Eurozone Government Bond UCITS ETF 1C (XGLE.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IBGS.L | XGLE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.07 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.85 | 0.49 | +0.36 |
| Martin ratioReturn relative to average drawdown | 1.76 | 1.02 | +0.74 |
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Drawdowns
IBGS.L vs. XGLE.L - Drawdown Comparison
The maximum IBGS.L drawdown since its inception was -99.26%, which is greater than XGLE.L's maximum drawdown of -26.78%. Use the drawdown chart below to compare losses from any high point for IBGS.L and XGLE.L.
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Drawdown Indicators
| IBGS.L | XGLE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.26% | -26.78% | -72.48% |
Max Drawdown (1Y)Largest decline over 1 year | -2.59% | -4.53% | +1.94% |
Max Drawdown (3Y)Largest decline over 3 years | -3.05% | -6.20% | +3.15% |
Max Drawdown (5Y)Largest decline over 5 years | -5.95% | -20.99% | +15.04% |
Max Drawdown (10Y)Largest decline over 10 years | -13.11% | -26.78% | +13.67% |
Current DrawdownCurrent decline from peak | -98.93% | -18.37% | -80.56% |
Average DrawdownAverage peak-to-trough decline | -94.44% | -9.40% | -85.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.25% | 2.17% | -0.92% |
Volatility
IBGS.L vs. XGLE.L - Volatility Comparison
The current volatility for iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBGS.L) is 0.84%, while Xtrackers Eurozone Government Bond UCITS ETF 1C (XGLE.L) has a volatility of 1.48%. This indicates that IBGS.L experiences smaller price fluctuations and is considered to be less risky than XGLE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBGS.L | XGLE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.84% | 1.48% | -0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 2.73% | 4.34% | -1.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.10% | 5.53% | -1.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.33% | 7.49% | -2.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.78% | 8.18% | -1.40% |
IBGS.L vs. XGLE.L - Expense Ratio Comparison
Both IBGS.L and XGLE.L have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IBGS.L vs. XGLE.L - Dividend Comparison
IBGS.L's dividend yield for the trailing twelve months is around 2.18%, while XGLE.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBGS.L iShares Euro Government Bond 1-3yr UCITS ETF (Dist) | 2.18% | 2.39% | 2.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.04% | 0.28% |
XGLE.L Xtrackers Eurozone Government Bond UCITS ETF 1C | 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
IBGS.L and XGLE.L have a correlation of 0.65, 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 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
IBGS.L and XGLE.L have the same expense ratio: 0.15% per year.
IBGS.L tracks Bloomberg Euro Agg Govt 1-3 Yr TR EUR, while XGLE.L tracks Bloomberg Euro Agg Govt TR EUR. They also come from different issuers: iShares and DWS.
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