XGSI.L vs. GLAD.L
XGSI.L (Xtrackers Global Government Bond UCITS ETF 3C USD hedged) and GLAD.L (SPDR Bloomberg Global Aggregate Bond UCITS ETF USD Hedged (Acc)) are both Global Bonds funds tracking the Bloomberg Global Aggregate TR Hdg USD, from DWS and State Street respectively. Both are passively managed. Over the past 5 years, XGSI.L returned -0.67%/yr vs 0.65%/yr for GLAD.L. Their correlation of 0.84 suggests significant overlap in exposure. XGSI.L charges 0.25%/yr vs 0.10%/yr for GLAD.L.
Performance
XGSI.L vs. GLAD.L - Performance Comparison
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Returns By Period
In the year-to-date period, XGSI.L achieves a -0.36% return, which is significantly lower than GLAD.L's 0.54% return.
XGSI.L
- 1D
- 0.08%
- 1M
- 0.28%
- YTD
- -0.36%
- 6M
- -0.28%
- 1Y
- 2.05%
- 3Y*
- 2.69%
- 5Y*
- -0.67%
- 10Y*
- —
GLAD.L
- 1D
- 0.15%
- 1M
- 0.14%
- YTD
- 0.54%
- 6M
- 0.72%
- 1Y
- 3.48%
- 3Y*
- 4.15%
- 5Y*
- 0.65%
- 10Y*
- —
XGSI.L vs. GLAD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XGSI.L Xtrackers Global Government Bond UCITS ETF 3C USD hedged | -0.36% | 3.99% | 1.24% | 5.84% | -13.31% | -2.49% | 5.86% | -0.67% |
GLAD.L SPDR Bloomberg Global Aggregate Bond UCITS ETF USD Hedged (Acc) | 0.54% | 4.72% | 3.23% | 6.73% | -11.24% | -1.59% | 5.21% | -0.04% |
Correlation
The correlation between XGSI.L and GLAD.L is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Oct 14, 2019 | 0.84 |
The correlation between XGSI.L and GLAD.L has been stable across timeframes, ranging from 0.79 to 0.88 - a consistent structural relationship.
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Return for Risk
XGSI.L vs. GLAD.L — Risk / Return Rank
XGSI.L
GLAD.L
XGSI.L vs. GLAD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers Global Government Bond UCITS ETF 3C USD hedged (XGSI.L) and SPDR Bloomberg Global Aggregate Bond UCITS ETF USD Hedged (Acc) (GLAD.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.
| XGSI.L | GLAD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | -0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.20 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.65 | 1.51 | -0.86 |
| Martin ratioReturn relative to average drawdown | 1.81 | 4.60 | -2.79 |
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
| XGSI.L | GLAD.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.46 | 1.09 | -0.62 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.13 | 0.15 | -0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.23 | 0.00 |
Drawdowns
XGSI.L vs. GLAD.L - Drawdown Comparison
The maximum XGSI.L drawdown since its inception was -17.29%, which is greater than GLAD.L's maximum drawdown of -15.20%. Use the drawdown chart below to compare losses from any high point for XGSI.L and GLAD.L.
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Drawdown Indicators
| XGSI.L | GLAD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.29% | -15.20% | -2.09% |
Max Drawdown (1Y)Largest decline over 1 year | -3.15% | -2.30% | -0.85% |
Max Drawdown (3Y)Largest decline over 3 years | -4.29% | -3.78% | -0.51% |
Max Drawdown (5Y)Largest decline over 5 years | -16.39% | -15.05% | -1.34% |
Current DrawdownCurrent decline from peak | -6.48% | -1.01% | -5.47% |
Average DrawdownAverage peak-to-trough decline | -5.68% | -4.55% | -1.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.13% | 0.76% | +0.37% |
Volatility
XGSI.L vs. GLAD.L - Volatility Comparison
Xtrackers Global Government Bond UCITS ETF 3C USD hedged (XGSI.L) has a higher volatility of 1.47% compared to SPDR Bloomberg Global Aggregate Bond UCITS ETF USD Hedged (Acc) (GLAD.L) at 1.38%. This indicates that XGSI.L's price experiences larger fluctuations and is considered to be riskier than GLAD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XGSI.L | GLAD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.47% | 1.38% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 2.87% | 2.63% | +0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.41% | 3.19% | +1.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.30% | 4.48% | +0.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.77% | 4.27% | +0.50% |
XGSI.L vs. GLAD.L - Expense Ratio Comparison
XGSI.L has a 0.25% expense ratio, which is higher than GLAD.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
XGSI.L vs. GLAD.L - Dividend Comparison
Neither XGSI.L nor GLAD.L has paid dividends to shareholders.
Frequently Asked Questions
XGSI.L and GLAD.L have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLAD.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLAD.L is cheaper with a 0.10% expense ratio, compared with 0.25% for XGSI.L.
Both ETFs track Bloomberg Global Aggregate TR Hdg USD. They also come from different issuers: DWS and State Street. Their fees differ too: 0.25% for XGSI.L and 0.10% for GLAD.L.
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