IXUA.DE vs. XAAG.DE
IXUA.DE (iShares MSCI World ex-USA UCITS ETF USD Acc) and XAAG.DE (Invesco Bloomberg Commodity ex-Agriculture UCITS ETF Acc) are both exchange-traded funds - IXUA.DE is a Global Equities fund tracking the MSCI World ex USA, while XAAG.DE is a Commodities fund tracking the Bloomberg Commodity ex-Agriculture and Livestock. Both are passively managed. Over the past year, IXUA.DE returned 20.67% vs 46.69% for XAAG.DE. At a correlation of -0.05, they often move in opposite directions. IXUA.DE charges 0.15%/yr vs 0.19%/yr for XAAG.DE.
Performance
IXUA.DE vs. XAAG.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IXUA.DE achieves a 9.84% return, which is significantly lower than XAAG.DE's 27.69% return.
IXUA.DE
- 1D
- 0.20%
- 1M
- 1.58%
- YTD
- 9.84%
- 6M
- 11.80%
- 1Y
- 20.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XAAG.DE
- 1D
- -0.56%
- 1M
- 2.26%
- YTD
- 27.69%
- 6M
- 27.75%
- 1Y
- 46.69%
- 3Y*
- 17.71%
- 5Y*
- 14.95%
- 10Y*
- —
IXUA.DE vs. XAAG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IXUA.DE iShares MSCI World ex-USA UCITS ETF USD Acc | 9.84% | 11.45% |
XAAG.DE Invesco Bloomberg Commodity ex-Agriculture UCITS ETF Acc | 27.69% | 8.29% |
Correlation
The correlation between IXUA.DE and XAAG.DE is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (All Time) Calculated using the full available price history since Jan 31, 2025 | -0.05 |
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Return for Risk
IXUA.DE vs. XAAG.DE — Risk / Return Rank
IXUA.DE
XAAG.DE
IXUA.DE vs. XAAG.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI World ex-USA UCITS ETF USD Acc (IXUA.DE) and Invesco Bloomberg Commodity ex-Agriculture UCITS ETF Acc (XAAG.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.
| IXUA.DE | XAAG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.46 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.39 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.44 | 4.08 | -1.64 |
| Martin ratioReturn relative to average drawdown | 9.50 | 9.65 | -0.15 |
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
| IXUA.DE | XAAG.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.71 | 2.17 | -0.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.73 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.10 | 0.49 | +0.62 |
Drawdowns
IXUA.DE vs. XAAG.DE - Drawdown Comparison
The maximum IXUA.DE drawdown since its inception was -16.58%, smaller than the maximum XAAG.DE drawdown of -33.85%. Use the drawdown chart below to compare losses from any high point for IXUA.DE and XAAG.DE.
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Drawdown Indicators
| IXUA.DE | XAAG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.58% | -33.85% | +17.27% |
Max Drawdown (1Y)Largest decline over 1 year | -8.53% | -11.54% | +3.01% |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.26% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.85% | — |
Current DrawdownCurrent decline from peak | -0.74% | -2.54% | +1.80% |
Average DrawdownAverage peak-to-trough decline | -2.09% | -13.88% | +11.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.20% | 4.89% | -2.69% |
Volatility
IXUA.DE vs. XAAG.DE - Volatility Comparison
The current volatility for iShares MSCI World ex-USA UCITS ETF USD Acc (IXUA.DE) is 3.28%, while Invesco Bloomberg Commodity ex-Agriculture UCITS ETF Acc (XAAG.DE) has a volatility of 4.71%. This indicates that IXUA.DE experiences smaller price fluctuations and is considered to be less risky than XAAG.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IXUA.DE | XAAG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.28% | 4.71% | -1.43% |
Volatility (6M)Calculated over the trailing 6-month period | 9.95% | 18.81% | -8.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.21% | 21.76% | -9.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.74% | 20.32% | -5.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.74% | 18.40% | -3.66% |
IXUA.DE vs. XAAG.DE - Expense Ratio Comparison
IXUA.DE has a 0.15% expense ratio, which is lower than XAAG.DE's 0.19% 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
IXUA.DE vs. XAAG.DE - Dividend Comparison
Neither IXUA.DE nor XAAG.DE has paid dividends to shareholders.
Frequently Asked Questions
IXUA.DE and XAAG.DE have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IXUA.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IXUA.DE is cheaper with a 0.15% expense ratio, compared with 0.19% for XAAG.DE.
IXUA.DE is categorized as Global Equities, while XAAG.DE is Commodities. IXUA.DE tracks MSCI World ex USA, while XAAG.DE tracks Bloomberg Commodity ex-Agriculture and Livestock. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.15% for IXUA.DE and 0.19% for XAAG.DE.
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