XAUS.L vs. XGSI.L

Last updated Jun 5, 2026

XAUS.L (Xtrackers S&P/ASX 200 UCITS ETF 1D) and XGSI.L (Xtrackers Global Government Bond UCITS ETF 3C USD hedged) are both exchange-traded funds - XAUS.L is a Asia Pacific Equities fund tracking the MSCI Australia NR USD, while XGSI.L is a Global Bonds fund tracking the Bloomberg Global Aggregate TR Hdg USD. Both are passively managed. Over the past 5 years, XAUS.L returned 6.41%/yr vs 0.41%/yr for XGSI.L. At a correlation of -0.00, they often move in opposite directions. XAUS.L charges 0.50%/yr vs 0.25%/yr for XGSI.L.

Performance

XAUS.L vs. XGSI.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Xtrackers S&P/ASX 200 UCITS ETF 1D (XAUS.L) and Xtrackers Global Government Bond UCITS ETF 3C USD hedged (XGSI.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XAUS.L is traded in GBp, while XGSI.L is traded in USD. To make them comparable, the XGSI.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, XAUS.L achieves a 8.13% return, which is significantly higher than XGSI.L's 0.05% return.

XAUS.L

• 1D: -0.60%
• 1M: 0.41%
• YTD: 8.13%
• 6M: 9.60%
• 1Y: 16.15%
• 3Y*: 9.59%
• 5Y*: 6.41%
• 10Y*: 9.17%

XGSI.L

• 1D: 0.08%
• 1M: 1.20%
• YTD: 0.05%
• 6M: -0.97%
• 1Y: 3.04%
• 3Y*: 0.11%
• 5Y*: 0.41%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

XAUS.L vs. XGSI.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XAUS.L Xtrackers S&P/ASX 200 UCITS ETF 1D	8.13%	9.45%	3.36%	5.67%	3.27%	9.35%	9.38%	18.34%	-8.52%	3.69%
XGSI.L Xtrackers Global Government Bond UCITS ETF 3C USD hedged	0.05%	-3.42%	3.01%	0.55%	-3.00%	-1.56%	2.75%	3.35%	8.32%	-4.45%

Correlation

The correlation between XAUS.L and XGSI.L is 0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.00
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (5Y) Calculated over the trailing 5-year period	-0.07
Correlation (All Time) Calculated using the full available price history since Apr 25, 2017	-0.00

Return for Risk

XAUS.L vs. XGSI.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XAUS.L

XAUS.L Risk / Return Rank: 35
XAUS.L Sharpe Ratio Rank: 36
XAUS.L Sortino Ratio Rank: 36
XAUS.L Omega Ratio Rank: 35
XAUS.L Calmar Ratio Rank: 35
XAUS.L Martin Ratio Rank: 35

XGSI.L

XGSI.L Risk / Return Rank: 17
XGSI.L Sharpe Ratio Rank: 17
XGSI.L Sortino Ratio Rank: 15
XGSI.L Omega Ratio Rank: 16
XGSI.L Calmar Ratio Rank: 17
XGSI.L Martin Ratio Rank: 18

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XAUS.L vs. XGSI.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers S&P/ASX 200 UCITS ETF 1D (XAUS.L) and Xtrackers Global Government Bond UCITS ETF 3C USD hedged (XGSI.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.

	XAUS.L	XGSI.L	Difference
Sharpe ratio: Return per unit of total volatility	1.27	0.44	+0.83
Sortino ratio: Return per unit of downside risk	1.86	0.67	+1.20
Omega ratio: Gain probability vs. loss probability	1.23	1.08	+0.15
Calmar ratio: Return relative to maximum drawdown	1.72	0.50	+1.23
Martin ratio: Return relative to average drawdown	5.19	1.15	+4.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XAUS.L vs. XGSI.L - Sharpe Ratio Comparison

The current XAUS.L Sharpe Ratio is 1.27, which is higher than the XGSI.L Sharpe Ratio of 0.44. The chart below compares the historical Sharpe Ratios of XAUS.L and XGSI.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XAUS.L	XGSI.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.27	0.44	+0.83
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.04	+0.38
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.06	+0.32

Drawdowns

XAUS.L vs. XGSI.L - Drawdown Comparison

The maximum XAUS.L drawdown since its inception was -51.15%, which is greater than XGSI.L's maximum drawdown of -22.36%. Use the drawdown chart below to compare losses from any high point for XAUS.L and XGSI.L.

Drawdown Indicators

	XAUS.L	XGSI.L	Difference
Max Drawdown Largest peak-to-trough decline	-51.15%	-22.36%	-28.79%
Max Drawdown (1Y) Largest decline over 1 year	-9.57%	-6.10%	-3.47%
Max Drawdown (3Y) Largest decline over 3 years	-21.54%	-9.18%	-12.36%
Max Drawdown (5Y) Largest decline over 5 years	-21.54%	-16.82%	-4.72%
Max Drawdown (10Y) Largest decline over 10 years	-38.31%	—	—
Current Drawdown Current decline from peak	-4.18%	-17.59%	+13.41%
Average Drawdown Average peak-to-trough decline	-8.06%	-12.10%	+4.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.14%	2.65%	+0.49%

Volatility

XAUS.L vs. XGSI.L - Volatility Comparison

Xtrackers S&P/ASX 200 UCITS ETF 1D (XAUS.L) has a higher volatility of 4.33% compared to Xtrackers Global Government Bond UCITS ETF 3C USD hedged (XGSI.L) at 1.88%. This indicates that XAUS.L's price experiences larger fluctuations and is considered to be riskier than XGSI.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XAUS.L	XGSI.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.33%	1.88%	+2.45%
Volatility (6M) Calculated over the trailing 6-month period	10.24%	5.15%	+5.09%
Volatility (1Y) Calculated over the trailing 1-year period	13.00%	6.92%	+6.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.76%	9.05%	+7.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.45%	9.27%	+11.18%

XAUS.L vs. XGSI.L - Expense Ratio Comparison

XAUS.L has a 0.50% expense ratio, which is higher than XGSI.L's 0.25% expense ratio.

Dividends

XAUS.L vs. XGSI.L - Dividend Comparison

XAUS.L's dividend yield for the trailing twelve months is around 2.54%, while XGSI.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
XAUS.L Xtrackers S&P/ASX 200 UCITS ETF 1D	2.54%	2.67%	3.22%	3.83%	5.17%	2.15%	4.85%	3.73%	3.53%	3.49%	3.73%
XGSI.L Xtrackers Global Government Bond UCITS ETF 3C USD hedged	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

Can I hold both XAUS.L and XGSI.L in my portfolio?

XAUS.L and XGSI.L have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XAUS.L or XGSI.L?

On fees, XGSI.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XAUS.L or XGSI.L?

XGSI.L is cheaper with a 0.25% expense ratio, compared with 0.50% for XAUS.L.

What is the main difference between XAUS.L and XGSI.L?

XAUS.L is categorized as Asia Pacific Equities, while XGSI.L is Global Bonds. XAUS.L tracks MSCI Australia NR USD, while XGSI.L tracks Bloomberg Global Aggregate TR Hdg USD. Their fees differ too: 0.50% for XAUS.L and 0.25% for XGSI.L.