XBGG.L vs. GOVG.L
XBGG.L (Xtrackers II ESG Global Aggregate Bond UCITS ETF 3D GBP hedged) and GOVG.L (Amundi Index J.P. Morgan GBI Global Govies UCITS ETF DR Hedged GBP (D)) are both Global Bonds funds tracking the Bloomberg Global Aggregate TR Hdg GBP, from Xtrackers and Amundi respectively. Both are passively managed. Over the past 3 years, XBGG.L returned 3.48%/yr vs 0.19%/yr for GOVG.L. Their correlation of 0.91 suggests significant overlap in exposure. Both charge a 0.15% expense ratio.
Performance
XBGG.L vs. GOVG.L - Performance Comparison
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Returns By Period
In the year-to-date period, XBGG.L achieves a 0.16% return, which is significantly higher than GOVG.L's -0.17% return.
XBGG.L
- 1D
- 0.17%
- 1M
- 0.43%
- YTD
- 0.16%
- 6M
- 0.38%
- 1Y
- 3.11%
- 3Y*
- 3.48%
- 5Y*
- -0.30%
- 10Y*
- 0.78%
GOVG.L
- 1D
- -0.29%
- 1M
- 0.23%
- YTD
- -0.17%
- 6M
- -2.76%
- 1Y
- -0.77%
- 3Y*
- 0.19%
- 5Y*
- —
- 10Y*
- —
XBGG.L vs. GOVG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XBGG.L Xtrackers II ESG Global Aggregate Bond UCITS ETF 3D GBP hedged | 0.16% | 4.60% | 2.19% | 5.74% | -13.34% | -1.19% |
GOVG.L Amundi Index J.P. Morgan GBI Global Govies UCITS ETF DR Hedged GBP (D) | -0.17% | 0.76% | -0.52% | 2.69% | -14.37% | -0.98% |
Correlation
The correlation between XBGG.L and GOVG.L is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Jul 28, 2021 | 0.91 |
The correlation between XBGG.L and GOVG.L has been stable across timeframes, ranging from 0.87 to 0.92 - a consistent structural relationship.
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Return for Risk
XBGG.L vs. GOVG.L — Risk / Return Rank
XBGG.L
GOVG.L
XBGG.L vs. GOVG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II ESG Global Aggregate Bond UCITS ETF 3D GBP hedged (XBGG.L) and Amundi Index J.P. Morgan GBI Global Govies UCITS ETF DR Hedged GBP (D) (GOVG.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.
| XBGG.L | GOVG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.08 | ||
| Sortino ratioReturn per unit of downside risk | +1.55 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 0.98 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.15 | -0.13 | +1.28 |
| Martin ratioReturn relative to average drawdown | 3.33 | -0.28 | +3.61 |
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
| XBGG.L | GOVG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.94 | -0.14 | +1.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.07 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | -0.55 | +0.76 |
Drawdowns
XBGG.L vs. GOVG.L - Drawdown Comparison
The maximum XBGG.L drawdown since its inception was -17.06%, roughly equal to the maximum GOVG.L drawdown of -17.52%. Use the drawdown chart below to compare losses from any high point for XBGG.L and GOVG.L.
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Drawdown Indicators
| XBGG.L | GOVG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.06% | -17.52% | +0.46% |
Max Drawdown (1Y)Largest decline over 1 year | -2.70% | -4.41% | +1.71% |
Max Drawdown (3Y)Largest decline over 3 years | -3.91% | -5.40% | +1.49% |
Max Drawdown (5Y)Largest decline over 5 years | -16.89% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -17.06% | — | — |
Current DrawdownCurrent decline from peak | -3.55% | -13.83% | +10.28% |
Average DrawdownAverage peak-to-trough decline | -4.80% | -11.97% | +7.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 2.16% | -1.23% |
Volatility
XBGG.L vs. GOVG.L - Volatility Comparison
Xtrackers II ESG Global Aggregate Bond UCITS ETF 3D GBP hedged (XBGG.L) and Amundi Index J.P. Morgan GBI Global Govies UCITS ETF DR Hedged GBP (D) (GOVG.L) have volatilities of 1.46% and 1.50%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XBGG.L | GOVG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.46% | 1.50% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 2.64% | 3.74% | -1.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.29% | 4.27% | -0.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.52% | 5.14% | -0.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.05% | 5.14% | -1.09% |
XBGG.L vs. GOVG.L - Expense Ratio Comparison
Both XBGG.L and GOVG.L have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
XBGG.L vs. GOVG.L - Dividend Comparison
XBGG.L's dividend yield for the trailing twelve months is around 2.96%, while GOVG.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
GOVG.L Amundi Index J.P. Morgan GBI Global Govies UCITS ETF DR Hedged GBP (D) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XBGG.L Xtrackers II ESG Global Aggregate Bond UCITS ETF 3D GBP hedged | 2.96% | 2.93% | 3.04% | 2.00% | 2.76% | 0.79% | 1.35% | 1.72% | 1.42% |
Frequently Asked Questions
XBGG.L and GOVG.L have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
XBGG.L and GOVG.L have the same expense ratio: 0.15% per year.
Both ETFs track Bloomberg Global Aggregate TR Hdg GBP. They also come from different issuers: Xtrackers and Amundi.
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