SPFE.DE vs. HGGA.DE
SPFE.DE (SPDR Bloomberg Global Aggregate Bond UCITS ETF EUR Hedged) and HGGA.DE (HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF) are both Global Bonds funds - SPFE.DE tracks the Bloomberg Global Aggregate Bond (EUR Hedged) while HGGA.DE tracks the Bloomberg MSCI Global Aggregate 1-3 SRI Carbon ESG-Weighted. Both are passively managed. Over the past 3 years, SPFE.DE returned 2.19%/yr vs 0.90%/yr for HGGA.DE. At a 0.10 correlation, their price movements are largely independent. SPFE.DE charges 0.10%/yr vs 0.18%/yr for HGGA.DE.
Performance
SPFE.DE vs. HGGA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPFE.DE achieves a -0.14% return, which is significantly lower than HGGA.DE's 1.31% return.
SPFE.DE
- 1D
- 0.23%
- 1M
- -0.25%
- YTD
- -0.14%
- 6M
- -0.08%
- 1Y
- 1.45%
- 3Y*
- 2.19%
- 5Y*
- -1.22%
- 10Y*
- —
HGGA.DE
- 1D
- 0.00%
- 1M
- 0.50%
- YTD
- 1.31%
- 6M
- 0.88%
- 1Y
- 0.39%
- 3Y*
- 0.90%
- 5Y*
- —
- 10Y*
- —
SPFE.DE vs. HGGA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SPFE.DE SPDR Bloomberg Global Aggregate Bond UCITS ETF EUR Hedged | -0.14% | 2.59% | 1.43% | 4.36% | -11.97% |
HGGA.DE HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF | 1.31% | -4.17% | 5.69% | 0.16% | -1.86% |
Correlation
The correlation between SPFE.DE and HGGA.DE is -0.10, 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 | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2022 | 0.10 |
The correlation between SPFE.DE and HGGA.DE shifts across timeframes, from -0.10 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SPFE.DE vs. HGGA.DE — Risk / Return Rank
SPFE.DE
HGGA.DE
SPFE.DE vs. HGGA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Global Aggregate Bond UCITS ETF EUR Hedged (SPFE.DE) and HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF (HGGA.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.
| SPFE.DE | HGGA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.35 | ||
| Sortino ratioReturn per unit of downside risk | +0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.01 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.47 | 0.08 | +0.39 |
| Martin ratioReturn relative to average drawdown | 1.36 | 0.17 | +1.19 |
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
| SPFE.DE | HGGA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.40 | 0.05 | +0.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.27 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.04 | 0.04 | 0.00 |
Drawdowns
SPFE.DE vs. HGGA.DE - Drawdown Comparison
The maximum SPFE.DE drawdown since its inception was -17.25%, which is greater than HGGA.DE's maximum drawdown of -8.58%. Use the drawdown chart below to compare losses from any high point for SPFE.DE and HGGA.DE.
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Drawdown Indicators
| SPFE.DE | HGGA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.25% | -8.58% | -8.67% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -2.04% | -0.69% |
Max Drawdown (3Y)Largest decline over 3 years | -3.98% | -6.78% | +2.80% |
Max Drawdown (5Y)Largest decline over 5 years | -16.61% | — | — |
Current DrawdownCurrent decline from peak | -8.27% | -4.56% | -3.71% |
Average DrawdownAverage peak-to-trough decline | -6.51% | -4.18% | -2.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 1.02% | -0.07% |
Volatility
SPFE.DE vs. HGGA.DE - Volatility Comparison
SPDR Bloomberg Global Aggregate Bond UCITS ETF EUR Hedged (SPFE.DE) has a higher volatility of 1.55% compared to HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF (HGGA.DE) at 0.53%. This indicates that SPFE.DE's price experiences larger fluctuations and is considered to be riskier than HGGA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPFE.DE | HGGA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.55% | 0.53% | +1.02% |
Volatility (6M)Calculated over the trailing 6-month period | 2.67% | 2.33% | +0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.23% | 3.42% | -0.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.55% | 4.98% | -0.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.06% | 4.98% | -0.92% |
SPFE.DE vs. HGGA.DE - Expense Ratio Comparison
SPFE.DE has a 0.10% expense ratio, which is lower than HGGA.DE's 0.18% 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
SPFE.DE vs. HGGA.DE - Dividend Comparison
SPFE.DE's dividend yield for the trailing twelve months is around 3.12%, while HGGA.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
HGGA.DE HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPFE.DE SPDR Bloomberg Global Aggregate Bond UCITS ETF EUR Hedged | 3.12% | 3.07% | 2.78% | 1.96% | 1.51% | 1.20% | 1.49% | 2.15% | 0.77% |
Frequently Asked Questions
SPFE.DE and HGGA.DE have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPFE.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPFE.DE is cheaper with a 0.10% expense ratio, compared with 0.18% for HGGA.DE.
SPFE.DE tracks Bloomberg Global Aggregate Bond (EUR Hedged), while HGGA.DE tracks Bloomberg MSCI Global Aggregate 1-3 SRI Carbon ESG-Weighted. They also come from different issuers: State Street and HSBC. Their fees differ too: 0.10% for SPFE.DE and 0.18% for HGGA.DE.
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