XG7S.L vs. GGOV.L
XG7S.L (Xtrackers Global Government Bond UCITS ETF 5C) and GGOV.L (Amundi Index J.P. Morgan GBI Global Govies) are both Global Bonds funds tracking the Bloomberg Global Aggregate TR USD, from Xtrackers and Amundi respectively. Both are passively managed. Over the past 5 years, XG7S.L returned -2.31%/yr vs -2.27%/yr for GGOV.L. A 0.51 correlation means they provide meaningful diversification when combined. XG7S.L charges 0.20%/yr vs 0.10%/yr for GGOV.L.
Performance
XG7S.L vs. GGOV.L - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with XG7S.L having a -0.90% return and GGOV.L slightly lower at -0.92%.
XG7S.L
- 1D
- 0.15%
- 1M
- 0.81%
- YTD
- -0.90%
- 6M
- -1.39%
- 1Y
- 1.33%
- 3Y*
- -0.62%
- 5Y*
- -2.31%
- 10Y*
- 0.03%
GGOV.L
- 1D
- 0.15%
- 1M
- 0.73%
- YTD
- -0.92%
- 6M
- -1.54%
- 1Y
- 0.64%
- 3Y*
- -1.14%
- 5Y*
- -2.27%
- 10Y*
- —
XG7S.L vs. GGOV.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XG7S.L Xtrackers Global Government Bond UCITS ETF 5C | -0.90% | -0.22% | -1.85% | -0.74% | -8.86% | -6.63% | 6.73% | -6.40% |
GGOV.L Amundi Index J.P. Morgan GBI Global Govies | -0.92% | -1.06% | -1.97% | -1.94% | -7.40% | -5.91% | 6.13% | -8.77% |
Correlation
The correlation between XG7S.L and GGOV.L is 0.85, 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 | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2019 | 0.51 |
Over the past year, XG7S.L and GGOV.L have become more correlated (0.85) than their long-term average of 0.51, meaning their price movements have been converging.
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Return for Risk
XG7S.L vs. GGOV.L — Risk / Return Rank
XG7S.L
GGOV.L
XG7S.L vs. GGOV.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers Global Government Bond UCITS ETF 5C (XG7S.L) and Amundi Index J.P. Morgan GBI Global Govies (GGOV.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.
| XG7S.L | GGOV.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.03 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.10 | 0.14 | -0.04 |
| Martin ratioReturn relative to average drawdown | 0.13 | 0.26 | -0.13 |
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
| XG7S.L | GGOV.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.07 | 0.14 | -0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.26 | -0.36 | +0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.00 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.15 | -0.51 | +0.66 |
Drawdowns
XG7S.L vs. GGOV.L - Drawdown Comparison
The maximum XG7S.L drawdown since its inception was -25.59%, roughly equal to the maximum GGOV.L drawdown of -25.96%. Use the drawdown chart below to compare losses from any high point for XG7S.L and GGOV.L.
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Drawdown Indicators
| XG7S.L | GGOV.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.59% | -25.96% | +0.37% |
Max Drawdown (1Y)Largest decline over 1 year | -15.40% | -4.67% | -10.73% |
Max Drawdown (3Y)Largest decline over 3 years | -15.40% | -5.70% | -9.70% |
Max Drawdown (5Y)Largest decline over 5 years | -16.70% | -16.68% | -0.02% |
Max Drawdown (10Y)Largest decline over 10 years | -25.59% | — | — |
Current DrawdownCurrent decline from peak | -23.76% | -24.80% | +1.04% |
Average DrawdownAverage peak-to-trough decline | -15.52% | -18.43% | +2.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.76% | 2.46% | +8.30% |
Volatility
XG7S.L vs. GGOV.L - Volatility Comparison
Xtrackers Global Government Bond UCITS ETF 5C (XG7S.L) has a higher volatility of 1.44% compared to Amundi Index J.P. Morgan GBI Global Govies (GGOV.L) at 1.30%. This indicates that XG7S.L's price experiences larger fluctuations and is considered to be riskier than GGOV.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XG7S.L | GGOV.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.44% | 1.30% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 3.54% | 3.42% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.76% | 4.66% | +16.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.16% | 8.19% | +5.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.59% | 9.19% | +5.40% |
XG7S.L vs. GGOV.L - Expense Ratio Comparison
XG7S.L has a 0.20% expense ratio, which is higher than GGOV.L'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
XG7S.L vs. GGOV.L - Dividend Comparison
Neither XG7S.L nor GGOV.L has paid dividends to shareholders.
Frequently Asked Questions
XG7S.L and GGOV.L have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GGOV.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GGOV.L is cheaper with a 0.10% expense ratio, compared with 0.20% for XG7S.L.
Both ETFs track Bloomberg Global Aggregate TR USD. They also come from different issuers: Xtrackers and Amundi. Their fees differ too: 0.20% for XG7S.L and 0.10% for GGOV.L.
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