IS0Z.DE vs. XBAE.DE
IS0Z.DE (iShares Global AAA-AA Government Bond UCITS ETF (Dist)) and XBAE.DE (Xtrackers II ESG Global Aggregate Bond UCITS ETF 5C EUR hedged) are both Global Bonds funds - IS0Z.DE tracks the Bloomberg Global Government AAA-AA Capped Bond while XBAE.DE tracks the Bloomberg MSCI Global Aggregate Sustainable and SRI Currency Neutral (EUR Hedged). Both are passively managed. Over the past 10 years, IS0Z.DE returned -0.58%/yr vs -0.46%/yr for XBAE.DE. A 0.62 correlation means they provide meaningful diversification when combined. IS0Z.DE charges 0.20%/yr vs 0.10%/yr for XBAE.DE.
Performance
IS0Z.DE vs. XBAE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IS0Z.DE achieves a 1.29% return, which is significantly higher than XBAE.DE's -0.55% return. Over the past 10 years, IS0Z.DE has underperformed XBAE.DE with an annualized return of -0.58%, while XBAE.DE has yielded a comparatively higher -0.46% annualized return.
IS0Z.DE
- 1D
- 0.06%
- 1M
- 0.21%
- YTD
- 1.29%
- 6M
- 1.26%
- 1Y
- 0.54%
- 3Y*
- 1.18%
- 5Y*
- -2.11%
- 10Y*
- -0.58%
XBAE.DE
- 1D
- 0.05%
- 1M
- -0.24%
- YTD
- -0.55%
- 6M
- -0.54%
- 1Y
- 1.07%
- 3Y*
- 1.72%
- 5Y*
- -1.74%
- 10Y*
- -0.46%
IS0Z.DE vs. XBAE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IS0Z.DE iShares Global AAA-AA Government Bond UCITS ETF (Dist) | 1.29% | -1.88% | 0.75% | 4.39% | -16.12% | -0.07% | 2.03% | 7.04% | 1.73% | -3.57% |
XBAE.DE Xtrackers II ESG Global Aggregate Bond UCITS ETF 5C EUR hedged | -0.55% | 2.65% | 0.52% | 4.36% | -14.60% | -2.16% | 3.70% | 5.33% | -1.57% | 0.56% |
Correlation
The correlation between IS0Z.DE and XBAE.DE is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2014 | 0.62 |
The correlation between IS0Z.DE and XBAE.DE shifts across timeframes, from 0.62 (all time) to 0.77 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
IS0Z.DE vs. XBAE.DE — Risk / Return Rank
IS0Z.DE
XBAE.DE
IS0Z.DE vs. XBAE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global AAA-AA Government Bond UCITS ETF (Dist) (IS0Z.DE) and Xtrackers II ESG Global Aggregate Bond UCITS ETF 5C EUR hedged (XBAE.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.
| IS0Z.DE | XBAE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.05 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.09 | 0.30 | -0.20 |
| Martin ratioReturn relative to average drawdown | 0.19 | 0.83 | -0.64 |
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
| IS0Z.DE | XBAE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.06 | 0.27 | -0.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.34 | -0.35 | +0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.10 | -0.10 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.05 | 0.08 | -0.03 |
Drawdowns
IS0Z.DE vs. XBAE.DE - Drawdown Comparison
The maximum IS0Z.DE drawdown since its inception was -21.02%, which is greater than XBAE.DE's maximum drawdown of -19.04%. Use the drawdown chart below to compare losses from any high point for IS0Z.DE and XBAE.DE.
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Drawdown Indicators
| IS0Z.DE | XBAE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.02% | -19.04% | -1.98% |
Max Drawdown (1Y)Largest decline over 1 year | -2.50% | -3.11% | +0.61% |
Max Drawdown (3Y)Largest decline over 3 years | -5.11% | -4.58% | -0.53% |
Max Drawdown (5Y)Largest decline over 5 years | -19.65% | -18.29% | -1.36% |
Max Drawdown (10Y)Largest decline over 10 years | -21.02% | -19.04% | -1.98% |
Current DrawdownCurrent decline from peak | -15.06% | -10.88% | -4.18% |
Average DrawdownAverage peak-to-trough decline | -7.48% | -5.91% | -1.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 1.11% | +0.10% |
Volatility
IS0Z.DE vs. XBAE.DE - Volatility Comparison
iShares Global AAA-AA Government Bond UCITS ETF (Dist) (IS0Z.DE) has a higher volatility of 1.69% compared to Xtrackers II ESG Global Aggregate Bond UCITS ETF 5C EUR hedged (XBAE.DE) at 1.32%. This indicates that IS0Z.DE's price experiences larger fluctuations and is considered to be riskier than XBAE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IS0Z.DE | XBAE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.69% | 1.32% | +0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 3.07% | 2.86% | +0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.82% | 3.46% | +0.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.19% | 5.00% | +1.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.66% | 4.63% | +1.03% |
IS0Z.DE vs. XBAE.DE - Expense Ratio Comparison
IS0Z.DE has a 0.20% expense ratio, which is higher than XBAE.DE's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IS0Z.DE vs. XBAE.DE - Dividend Comparison
IS0Z.DE's dividend yield for the trailing twelve months is around 2.67%, while XBAE.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IS0Z.DE iShares Global AAA-AA Government Bond UCITS ETF (Dist) | 2.67% | 2.51% | 2.30% | 1.57% | 0.80% | 0.47% | 0.62% | 0.88% | 0.90% | 0.82% | 0.84% | 1.06% |
XBAE.DE Xtrackers II ESG Global Aggregate Bond UCITS ETF 5C EUR hedged | 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
IS0Z.DE and XBAE.DE have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XBAE.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XBAE.DE is cheaper with a 0.10% expense ratio, compared with 0.20% for IS0Z.DE.
IS0Z.DE tracks Bloomberg Global Government AAA-AA Capped Bond, while XBAE.DE tracks Bloomberg MSCI Global Aggregate Sustainable and SRI Currency Neutral (EUR Hedged). They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.20% for IS0Z.DE and 0.10% for XBAE.DE.
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