IS0Z.DE vs. XBAG.DE
IS0Z.DE (iShares Global AAA-AA Government Bond UCITS ETF (Dist)) and XBAG.DE (Xtrackers II ESG Global Aggregate Bond UCITS ETF 1D) are both Global Bonds funds - IS0Z.DE tracks the Bloomberg Global Government AAA-AA Capped Bond while XBAG.DE tracks the Bloomberg Global Aggregate TR USD. Both are passively managed. Over the past 10 years, IS0Z.DE returned -0.58%/yr vs -0.06%/yr for XBAG.DE. A 0.79 correlation means they provide meaningful diversification when combined. IS0Z.DE charges 0.20%/yr vs 0.10%/yr for XBAG.DE.
Performance
IS0Z.DE vs. XBAG.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 XBAG.DE's 0.49% return. Over the past 10 years, IS0Z.DE has underperformed XBAG.DE with an annualized return of -0.58%, while XBAG.DE has yielded a comparatively higher -0.06% annualized return.
IS0Z.DE
- 1D
- 0.06%
- 1M
- 0.78%
- YTD
- 1.29%
- 6M
- 1.06%
- 1Y
- 0.23%
- 3Y*
- 1.18%
- 5Y*
- -2.11%
- 10Y*
- -0.58%
XBAG.DE
- 1D
- 0.04%
- 1M
- 0.60%
- YTD
- 0.49%
- 6M
- -0.07%
- 1Y
- -0.20%
- 3Y*
- 0.24%
- 5Y*
- -1.25%
- 10Y*
- -0.06%
IS0Z.DE vs. XBAG.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% |
XBAG.DE Xtrackers II ESG Global Aggregate Bond UCITS ETF 1D | 0.49% | -3.89% | 3.40% | 1.86% | -11.56% | 2.92% | -0.49% | 9.25% | 3.04% | -6.07% |
Correlation
The correlation between IS0Z.DE and XBAG.DE is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2014 | 0.79 |
The correlation between IS0Z.DE and XBAG.DE shifts across timeframes, from 0.68 (1 year) to 0.79 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
IS0Z.DE vs. XBAG.DE — Risk / Return Rank
IS0Z.DE
XBAG.DE
IS0Z.DE vs. XBAG.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 1D (XBAG.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 | XBAG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 0.99 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.09 | -0.08 | +0.18 |
| Martin ratioReturn relative to average drawdown | 0.19 | -0.16 | +0.36 |
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 | XBAG.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.06 | -0.05 | +0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.34 | -0.20 | -0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.10 | -0.01 | -0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.05 | 0.27 | -0.22 |
Drawdowns
IS0Z.DE vs. XBAG.DE - Drawdown Comparison
The maximum IS0Z.DE drawdown since its inception was -21.02%, which is greater than XBAG.DE's maximum drawdown of -16.64%. Use the drawdown chart below to compare losses from any high point for IS0Z.DE and XBAG.DE.
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Drawdown Indicators
| IS0Z.DE | XBAG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.02% | -16.64% | -4.38% |
Max Drawdown (1Y)Largest decline over 1 year | -2.50% | -2.44% | -0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -5.11% | -7.49% | +2.38% |
Max Drawdown (5Y)Largest decline over 5 years | -19.65% | -15.81% | -3.84% |
Max Drawdown (10Y)Largest decline over 10 years | -21.02% | -16.64% | -4.38% |
Current DrawdownCurrent decline from peak | -15.06% | -12.21% | -2.85% |
Average DrawdownAverage peak-to-trough decline | -7.48% | -6.65% | -0.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 1.23% | -0.02% |
Volatility
IS0Z.DE vs. XBAG.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 1D (XBAG.DE) at 0.99%. This indicates that IS0Z.DE's price experiences larger fluctuations and is considered to be riskier than XBAG.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 | XBAG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.69% | 0.99% | +0.70% |
Volatility (6M)Calculated over the trailing 6-month period | 3.07% | 2.67% | +0.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.82% | 3.78% | +0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.19% | 6.08% | +0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.66% | 5.92% | -0.26% |
IS0Z.DE vs. XBAG.DE - Expense Ratio Comparison
IS0Z.DE has a 0.20% expense ratio, which is higher than XBAG.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. XBAG.DE - Dividend Comparison
IS0Z.DE's dividend yield for the trailing twelve months is around 2.67%, less than XBAG.DE's 3.00% yield.
| 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% |
XBAG.DE Xtrackers II ESG Global Aggregate Bond UCITS ETF 1D | 3.00% | 2.94% | 3.16% | 2.22% | 2.78% | 0.82% | 1.47% | 1.76% | 1.36% | 1.11% | 2.04% | 0.00% |
Frequently Asked Questions
IS0Z.DE and XBAG.DE have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XBAG.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XBAG.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 XBAG.DE tracks Bloomberg Global Aggregate TR USD. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.20% for IS0Z.DE and 0.10% for XBAG.DE.
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