XGLE.L vs. CWB

Last updated Apr 2, 2026

Compare and contrast key facts about Xtrackers Eurozone Government Bond UCITS ETF 1C (XGLE.L) and SPDR Bloomberg Barclays Convertible Securities ETF (CWB).

XGLE.L and CWB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XGLE.L is a passively managed fund by DWS that tracks the performance of the Bloomberg Euro Agg Govt TR EUR. It was launched on May 22, 2007. CWB is a passively managed fund by State Street that tracks the performance of the Bloomberg US Convertibles Liquid Bond. It was launched on Apr 14, 2009. Both XGLE.L and CWB are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

XGLE.L vs. CWB - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Xtrackers Eurozone Government Bond UCITS ETF 1C (XGLE.L) and SPDR Bloomberg Barclays Convertible Securities ETF (CWB). The values are adjusted to include any dividend payments, if applicable.

XGLE.L vs. CWB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XGLE.L Xtrackers Eurozone Government Bond UCITS ETF 1C	-0.46%	0.57%	1.68%	6.80%	-18.23%	-3.63%	4.76%	6.62%	0.78%	-0.04%
CWB SPDR Bloomberg Barclays Convertible Securities ETF	5.64%	2.77%	17.33%	11.06%	-15.90%	9.82%	40.74%	25.16%	2.60%	1.48%

Different Trading Currencies

XGLE.L is traded in EUR, while CWB is traded in USD. To make them comparable, the CWB values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, XGLE.L achieves a -0.46% return, which is significantly lower than CWB's 5.64% return. Over the past 10 years, XGLE.L has underperformed CWB with an annualized return of -0.40%, while CWB has yielded a comparatively higher 11.02% annualized return.

XGLE.L

• 1D: 0.19%
• 1M: -2.07%
• YTD: -0.46%
• 6M: -0.12%
• 1Y: 1.10%
• 3Y*: 2.13%
• 5Y*: -2.62%
• 10Y*: -0.40%

CWB

• 1D: 1.05%
• 1M: -1.26%
• YTD: 5.64%
• 6M: 3.55%
• 1Y: 14.32%
• 3Y*: 11.07%
• 5Y*: 4.27%
• 10Y*: 11.02%

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

XGLE.L vs. CWB - Expense Ratio Comparison

XGLE.L has a 0.15% expense ratio, which is lower than CWB's 0.40% expense ratio.

CWB

SPDR Bloomberg Barclays Convertible Securities ETF

XGLE.L

Xtrackers Eurozone Government Bond UCITS ETF 1C

Return for Risk

XGLE.L vs. CWB — Risk / Return Rank

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

XGLE.L

XGLE.L Risk / Return Rank: 18
XGLE.L Sharpe Ratio Rank: 19
XGLE.L Sortino Ratio Rank: 16
XGLE.L Omega Ratio Rank: 15
XGLE.L Calmar Ratio Rank: 19
XGLE.L Martin Ratio Rank: 20

CWB

CWB Risk / Return Rank: 82
CWB Sharpe Ratio Rank: 80
CWB Sortino Ratio Rank: 80
CWB Omega Ratio Rank: 76
CWB Calmar Ratio Rank: 89
CWB Martin Ratio Rank: 84

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.

XGLE.L vs. CWB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Eurozone Government Bond UCITS ETF 1C (XGLE.L) and SPDR Bloomberg Barclays Convertible Securities ETF (CWB). 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.

	XGLE.L	CWB	Difference
Sharpe ratio Return per unit of total volatility	0.29	0.87	-0.58
Sortino ratio Return per unit of downside risk	0.42	1.23	-0.81
Omega ratio Gain probability vs. loss probability	1.05	1.17	-0.12
Calmar ratio Return relative to maximum drawdown	0.37	1.50	-1.13
Martin ratio Return relative to average drawdown	1.31	4.77	-3.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XGLE.L vs. CWB - Sharpe Ratio Comparison

The current XGLE.L Sharpe Ratio is 0.29, which is lower than the CWB Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of XGLE.L and CWB, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XGLE.L	CWB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.29	0.87	-0.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.42	0.33	-0.74
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.08	0.74	-0.81
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.84	-0.43

Correlation

The correlation between XGLE.L and CWB is 0.03, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

XGLE.L vs. CWB - Dividend Comparison

XGLE.L has not paid dividends to shareholders, while CWB's dividend yield for the trailing twelve months is around 1.62%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XGLE.L Xtrackers Eurozone Government Bond UCITS ETF 1C	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
CWB SPDR Bloomberg Barclays Convertible Securities ETF	1.62%	1.69%	1.85%	1.97%	2.21%	1.97%	2.34%	3.03%	6.17%	4.25%	4.60%	7.52%

Drawdowns

XGLE.L vs. CWB - Drawdown Comparison

The maximum XGLE.L drawdown since its inception was -22.56%, smaller than the maximum CWB drawdown of -32.14%. Use the drawdown chart below to compare losses from any high point for XGLE.L and CWB.

Drawdown Indicators

	XGLE.L	CWB	Difference
Max Drawdown Largest peak-to-trough decline	-22.56%	-32.06%	+9.50%
Max Drawdown (1Y) Largest decline over 1 year	-3.54%	-7.52%	+3.98%
Max Drawdown (5Y) Largest decline over 5 years	-21.62%	-28.41%	+6.79%
Max Drawdown (10Y) Largest decline over 10 years	-22.56%	-32.06%	+9.50%
Current Drawdown Current decline from peak	-14.64%	-3.06%	-11.58%
Average Drawdown Average peak-to-trough decline	-6.41%	-6.22%	-0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.00%	2.28%	-1.28%

Volatility

XGLE.L vs. CWB - Volatility Comparison

The current volatility for Xtrackers Eurozone Government Bond UCITS ETF 1C (XGLE.L) is 1.93%, while SPDR Bloomberg Barclays Convertible Securities ETF (CWB) has a volatility of 5.41%. This indicates that XGLE.L experiences smaller price fluctuations and is considered to be less risky than CWB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XGLE.L	CWB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.93%	5.41%	-3.48%
Volatility (6M) Calculated over the trailing 6-month period	2.66%	11.60%	-8.94%
Volatility (1Y) Calculated over the trailing 1-year period	3.79%	16.63%	-12.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.26%	13.18%	-6.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.29%	15.01%	-9.72%