XGSG.L vs. IGLH.L
XGSG.L (Xtrackers II Global Government Bond UCITS ETF 2D GBP Hedged) and IGLH.L (iShares Global Government Bond UCITS ETF GBP Hedged (Dist)) are both Global Bonds funds tracking the Bloomberg Global Aggregate TR Hdg GBP, from Xtrackers and iShares respectively. Both are passively managed. Over the past 5 years, XGSG.L returned -3.22%/yr vs -1.16%/yr for IGLH.L. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.25% expense ratio.
Performance
XGSG.L vs. IGLH.L - Performance Comparison
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Different Trading Currencies
XGSG.L is traded in GBp, while IGLH.L is traded in GBP. To make them comparable, the IGLH.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, XGSG.L achieves a -1.67% return, which is significantly lower than IGLH.L's 2.41% return.
XGSG.L
- 1D
- 0.00%
- 1M
- -0.33%
- YTD
- -1.67%
- 6M
- -1.46%
- 1Y
- -1.24%
- 3Y*
- -0.11%
- 5Y*
- -3.22%
- 10Y*
- -1.29%
IGLH.L
- 1D
- -0.30%
- 1M
- 0.13%
- YTD
- 2.41%
- 6M
- -0.35%
- 1Y
- 1.81%
- 3Y*
- 2.04%
- 5Y*
- -1.16%
- 10Y*
- —
XGSG.L vs. IGLH.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
XGSG.L Xtrackers II Global Government Bond UCITS ETF 2D GBP Hedged | -1.67% | 0.95% | -1.45% | 3.09% | -16.07% | -4.09% | 4.20% | 4.93% | 0.16% |
IGLH.L iShares Global Government Bond UCITS ETF GBP Hedged (Dist) | 2.41% | 0.63% | 0.79% | 4.70% | -13.61% | -2.47% | 5.04% | 5.48% | 0.88% |
Correlation
The correlation between XGSG.L and IGLH.L is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2018 | 0.88 |
Over the past year, the correlation between XGSG.L and IGLH.L has dropped to 0.61 - well below their long-term average of 0.88, suggesting their price drivers have been diverging.
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Return for Risk
XGSG.L vs. IGLH.L — Risk / Return Rank
XGSG.L
IGLH.L
XGSG.L vs. IGLH.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II Global Government Bond UCITS ETF 2D GBP Hedged (XGSG.L) and iShares Global Government Bond UCITS ETF GBP Hedged (Dist) (IGLH.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.
| XGSG.L | IGLH.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -0.81 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.08 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.33 | 0.52 | -0.85 |
| Martin ratioReturn relative to average drawdown | -0.85 | 1.55 | -2.40 |
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
| XGSG.L | IGLH.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.25 | 0.33 | -0.58 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.58 | -0.21 | -0.37 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.28 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.11 | 0.06 | -0.17 |
Drawdowns
XGSG.L vs. IGLH.L - Drawdown Comparison
The maximum XGSG.L drawdown since its inception was -23.52%, which is greater than IGLH.L's maximum drawdown of -18.45%. Use the drawdown chart below to compare losses from any high point for XGSG.L and IGLH.L.
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Drawdown Indicators
| XGSG.L | IGLH.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.52% | -18.45% | -5.07% |
Max Drawdown (1Y)Largest decline over 1 year | -3.73% | -3.39% | -0.34% |
Max Drawdown (3Y)Largest decline over 3 years | -4.86% | -4.52% | -0.34% |
Max Drawdown (5Y)Largest decline over 5 years | -20.36% | -16.90% | -3.46% |
Max Drawdown (10Y)Largest decline over 10 years | -23.52% | — | — |
Current DrawdownCurrent decline from peak | -20.27% | -9.40% | -10.87% |
Average DrawdownAverage peak-to-trough decline | -8.29% | -7.36% | -0.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.46% | 1.14% | +0.32% |
Volatility
XGSG.L vs. IGLH.L - Volatility Comparison
Xtrackers II Global Government Bond UCITS ETF 2D GBP Hedged (XGSG.L) and iShares Global Government Bond UCITS ETF GBP Hedged (Dist) (IGLH.L) have volatilities of 1.48% and 1.54%, 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
| XGSG.L | IGLH.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 1.54% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 2.92% | 4.80% | -1.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.04% | 5.35% | -0.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.52% | 5.43% | +0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.68% | 4.75% | -0.07% |
XGSG.L vs. IGLH.L - Expense Ratio Comparison
Both XGSG.L and IGLH.L have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
XGSG.L vs. IGLH.L - Dividend Comparison
XGSG.L's dividend yield for the trailing twelve months is around 0.03%, less than IGLH.L's 2.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGLH.L iShares Global Government Bond UCITS ETF GBP Hedged (Dist) | 2.98% | 2.91% | 2.33% | 1.40% | 0.73% | 0.55% | 0.97% | 1.19% | 0.32% | 0.00% | 0.00% | 0.00% |
XGSG.L Xtrackers II Global Government Bond UCITS ETF 2D GBP Hedged | 0.03% | 0.03% | 0.03% | 0.02% | 0.03% | 0.02% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% |
Frequently Asked Questions
XGSG.L and IGLH.L have a correlation of 0.61, 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 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
XGSG.L and IGLH.L have the same expense ratio: 0.25% per year.
Both ETFs track Bloomberg Global Aggregate TR Hdg GBP. They also come from different issuers: Xtrackers and iShares.
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