XGSI.L vs. XBCU.L
XGSI.L (Xtrackers Global Government Bond UCITS ETF 3C USD hedged) and XBCU.L (Xtrackers Bloomberg Commodity ex-Agriculture & Livestock Swap UCITS ETF 2C) are both exchange-traded funds - XGSI.L is a Global Bonds fund tracking the Bloomberg Global Aggregate TR Hdg USD, while XBCU.L is a Commodities fund tracking the Bloomberg ex-Agriculture and Livestock 15/30 Capped 3 Month Forward. Both are passively managed. Over the past 5 years, XGSI.L returned -0.67%/yr vs 15.55%/yr for XBCU.L. At a correlation of -0.07, they often move in opposite directions. XGSI.L charges 0.25%/yr vs 0.29%/yr for XBCU.L.
Performance
XGSI.L vs. XBCU.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 XBCU.L's 23.15% 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*
- —
XBCU.L
- 1D
- -0.49%
- 1M
- 0.54%
- YTD
- 23.15%
- 6M
- 26.23%
- 1Y
- 45.54%
- 3Y*
- 19.51%
- 5Y*
- 15.55%
- 10Y*
- 9.95%
XGSI.L vs. XBCU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 7.44% | 2.26% | 0.95% |
XBCU.L Xtrackers Bloomberg Commodity ex-Agriculture & Livestock Swap UCITS ETF 2C | 23.15% | 26.09% | 8.64% | -9.97% | 20.96% | 39.63% | -1.34% | 7.54% | -11.30% | 8.57% |
Correlation
The correlation between XGSI.L and XBCU.L is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Apr 25, 2017 | -0.07 |
The correlation between XGSI.L and XBCU.L shifts across timeframes, from -0.17 (1 year) to -0.04 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
XGSI.L vs. XBCU.L — Risk / Return Rank
XGSI.L
XBCU.L
XGSI.L vs. XBCU.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 Xtrackers Bloomberg Commodity ex-Agriculture & Livestock Swap UCITS ETF 2C (XBCU.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 | XBCU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.08 | ||
| Sortino ratioReturn per unit of downside risk | -2.36 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.45 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | 0.65 | 4.85 | -4.21 |
| Martin ratioReturn relative to average drawdown | 1.81 | 13.65 | -11.84 |
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 | XBCU.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.46 | 2.54 | -2.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.13 | 0.83 | -0.96 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.60 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.27 | -0.04 |
Drawdowns
XGSI.L vs. XBCU.L - Drawdown Comparison
The maximum XGSI.L drawdown since its inception was -17.29%, smaller than the maximum XBCU.L drawdown of -62.92%. Use the drawdown chart below to compare losses from any high point for XGSI.L and XBCU.L.
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Drawdown Indicators
| XGSI.L | XBCU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.29% | -62.92% | +45.63% |
Max Drawdown (1Y)Largest decline over 1 year | -3.15% | -9.34% | +6.19% |
Max Drawdown (3Y)Largest decline over 3 years | -4.29% | -12.95% | +8.66% |
Max Drawdown (5Y)Largest decline over 5 years | -16.39% | -27.83% | +11.44% |
Max Drawdown (10Y)Largest decline over 10 years | — | -37.15% | — |
Current DrawdownCurrent decline from peak | -6.48% | -2.70% | -3.78% |
Average DrawdownAverage peak-to-trough decline | -5.68% | -29.73% | +24.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.13% | 3.33% | -2.20% |
Volatility
XGSI.L vs. XBCU.L - Volatility Comparison
The current volatility for Xtrackers Global Government Bond UCITS ETF 3C USD hedged (XGSI.L) is 1.47%, while Xtrackers Bloomberg Commodity ex-Agriculture & Livestock Swap UCITS ETF 2C (XBCU.L) has a volatility of 4.24%. This indicates that XGSI.L experiences smaller price fluctuations and is considered to be less risky than XBCU.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 | XBCU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.47% | 4.24% | -2.77% |
Volatility (6M)Calculated over the trailing 6-month period | 2.87% | 15.16% | -12.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.41% | 17.83% | -13.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.30% | 18.65% | -13.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.77% | 16.52% | -11.75% |
XGSI.L vs. XBCU.L - Expense Ratio Comparison
XGSI.L has a 0.25% expense ratio, which is lower than XBCU.L's 0.29% expense ratio.
Dividends
XGSI.L vs. XBCU.L - Dividend Comparison
Neither XGSI.L nor XBCU.L has paid dividends to shareholders.
Frequently Asked Questions
XGSI.L and XBCU.L have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XGSI.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XGSI.L is cheaper with a 0.25% expense ratio, compared with 0.29% for XBCU.L.
XGSI.L is categorized as Global Bonds, while XBCU.L is Commodities. XGSI.L tracks Bloomberg Global Aggregate TR Hdg USD, while XBCU.L tracks Bloomberg ex-Agriculture and Livestock 15/30 Capped 3 Month Forward. Their fees differ too: 0.25% for XGSI.L and 0.29% for XBCU.L.
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