XGSG.L vs. XDEM.L
XGSG.L (Xtrackers II Global Government Bond UCITS ETF 2D GBP Hedged) and XDEM.L (Xtrackers MSCI World Momentum Factor UCITS ETF 1C) are both exchange-traded funds - XGSG.L is a Global Bonds fund tracking the Bloomberg Global Aggregate TR Hdg GBP, while XDEM.L is a Momentum fund tracking the MSCI World Momentum Index. Both are passively managed. Over the past 10 years, XGSG.L returned -1.29%/yr vs 16.78%/yr for XDEM.L. At a correlation of -0.09, they often move in opposite directions. Both charge a 0.25% expense ratio.
Performance
XGSG.L vs. XDEM.L - Performance Comparison
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Returns By Period
In the year-to-date period, XGSG.L achieves a -1.67% return, which is significantly lower than XDEM.L's 22.38% return. Over the past 10 years, XGSG.L has underperformed XDEM.L with an annualized return of -1.29%, while XDEM.L has yielded a comparatively higher 16.78% annualized 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%
XDEM.L
- 1D
- -0.65%
- 1M
- 9.10%
- YTD
- 22.38%
- 6M
- 22.80%
- 1Y
- 35.27%
- 3Y*
- 26.31%
- 5Y*
- 14.93%
- 10Y*
- 16.78%
XGSG.L vs. XDEM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.08% | 0.12% |
XDEM.L Xtrackers MSCI World Momentum Factor UCITS ETF 1C | 22.38% | 12.52% | 32.87% | 5.88% | -8.06% | 15.61% | 24.14% | 23.37% | 2.28% | 20.40% |
Correlation
The correlation between XGSG.L and XDEM.L is 0.09, 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 | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2014 | -0.09 |
The correlation between XGSG.L and XDEM.L shifts across timeframes, from -0.09 (all time) to 0.09 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XGSG.L vs. XDEM.L — Risk / Return Rank
XGSG.L
XDEM.L
XGSG.L vs. XDEM.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 Xtrackers MSCI World Momentum Factor UCITS ETF 1C (XDEM.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 | XDEM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.42 | ||
| Sortino ratioReturn per unit of downside risk | -3.52 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.40 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.33 | 3.90 | -4.23 |
| Martin ratioReturn relative to average drawdown | -0.85 | 15.18 | -16.03 |
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 | XDEM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.25 | 2.17 | -2.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.58 | 0.91 | -1.49 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.28 | 1.00 | -1.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.11 | 0.97 | -1.08 |
Drawdowns
XGSG.L vs. XDEM.L - Drawdown Comparison
The maximum XGSG.L drawdown since its inception was -23.52%, roughly equal to the maximum XDEM.L drawdown of -22.42%. Use the drawdown chart below to compare losses from any high point for XGSG.L and XDEM.L.
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Drawdown Indicators
| XGSG.L | XDEM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.52% | -22.42% | -1.10% |
Max Drawdown (1Y)Largest decline over 1 year | -3.73% | -9.01% | +5.28% |
Max Drawdown (3Y)Largest decline over 3 years | -4.86% | -19.99% | +15.13% |
Max Drawdown (5Y)Largest decline over 5 years | -20.36% | -20.13% | -0.23% |
Max Drawdown (10Y)Largest decline over 10 years | -23.52% | -22.42% | -1.10% |
Current DrawdownCurrent decline from peak | -20.27% | -0.65% | -19.62% |
Average DrawdownAverage peak-to-trough decline | -8.29% | -4.99% | -3.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.46% | 2.32% | -0.86% |
Volatility
XGSG.L vs. XDEM.L - Volatility Comparison
The current volatility for Xtrackers II Global Government Bond UCITS ETF 2D GBP Hedged (XGSG.L) is 1.48%, while Xtrackers MSCI World Momentum Factor UCITS ETF 1C (XDEM.L) has a volatility of 5.84%. This indicates that XGSG.L experiences smaller price fluctuations and is considered to be less risky than XDEM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XGSG.L | XDEM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 5.84% | -4.36% |
Volatility (6M)Calculated over the trailing 6-month period | 2.92% | 13.78% | -10.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.04% | 16.17% | -11.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.52% | 16.41% | -10.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.68% | 16.80% | -12.12% |
XGSG.L vs. XDEM.L - Expense Ratio Comparison
Both XGSG.L and XDEM.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. XDEM.L - Dividend Comparison
XGSG.L's dividend yield for the trailing twelve months is around 0.03%, while XDEM.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XDEM.L Xtrackers MSCI World Momentum Factor 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% |
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 XDEM.L have a correlation of 0.09, 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 XDEM.L have the same expense ratio: 0.25% per year.
XGSG.L is categorized as Global Bonds, while XDEM.L is Momentum. XGSG.L tracks Bloomberg Global Aggregate TR Hdg GBP, while XDEM.L tracks MSCI World Momentum Index. They also come from different issuers: Xtrackers and DWS.
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