XGVC.DE vs. XBAG.DE

Last updated Jun 5, 2026

XGVC.DE (Xtrackers II ESG Global Government Bond UCITS ETF) and XBAG.DE (Xtrackers II ESG Global Aggregate Bond UCITS ETF 1D) are both Global Bonds funds from Xtrackers - XGVC.DE tracks the FTSE ESG Select World Government Bond Developed Markets while XBAG.DE tracks the Bloomberg Global Aggregate TR USD. Both are passively managed. Over the past 3 years, XGVC.DE returned -0.19%/yr vs 0.24%/yr for XBAG.DE. Their correlation of 0.85 suggests significant overlap in exposure. XGVC.DE charges 0.20%/yr vs 0.10%/yr for XBAG.DE.

Performance

XGVC.DE vs. XBAG.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Xtrackers II ESG Global Government Bond UCITS ETF (XGVC.DE) and Xtrackers II ESG Global Aggregate Bond UCITS ETF 1D (XBAG.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XGVC.DE achieves a 0.30% return, which is significantly lower than XBAG.DE's 0.49% return.

XGVC.DE

• 1D: 0.21%
• 1M: 0.26%
• YTD: 0.30%
• 6M: -0.16%
• 1Y: -1.01%
• 3Y*: -0.19%
• 5Y*: —
• 10Y*: —

XBAG.DE

• 1D: 0.04%
• 1M: 0.28%
• YTD: 0.49%
• 6M: -0.04%
• 1Y: 0.10%
• 3Y*: 0.24%
• 5Y*: -1.25%
• 10Y*: -0.06%

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

XGVC.DE vs. XBAG.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XGVC.DE Xtrackers II ESG Global Government Bond UCITS ETF	0.30%	-4.28%	1.61%	2.49%	-5.86%
XBAG.DE Xtrackers II ESG Global Aggregate Bond UCITS ETF 1D	0.49%	-3.89%	3.40%	1.86%	-3.34%

Correlation

The correlation between XGVC.DE and XBAG.DE is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jun 29, 2022	0.85

The correlation between XGVC.DE and XBAG.DE has been stable across timeframes, ranging from 0.77 to 0.85 - a consistent structural relationship.

Return for Risk

XGVC.DE vs. XBAG.DE — Risk / Return Rank

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

XGVC.DE

XGVC.DE Risk / Return Rank: 5
XGVC.DE Sharpe Ratio Rank: 6
XGVC.DE Sortino Ratio Rank: 5
XGVC.DE Omega Ratio Rank: 5
XGVC.DE Calmar Ratio Rank: 5
XGVC.DE Martin Ratio Rank: 5

XBAG.DE

XBAG.DE Risk / Return Rank: 8
XBAG.DE Sharpe Ratio Rank: 9
XBAG.DE Sortino Ratio Rank: 8
XBAG.DE Omega Ratio Rank: 8
XBAG.DE Calmar Ratio Rank: 8
XBAG.DE Martin Ratio Rank: 8

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.

XGVC.DE vs. XBAG.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers II ESG Global Government Bond UCITS ETF (XGVC.DE) and Xtrackers II ESG Global Aggregate Bond UCITS ETF 1D (XBAG.DE). 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.

	XGVC.DE	XBAG.DE	Difference
Sharpe ratio: Return per unit of total volatility	-0.34	-0.05	-0.28
Sortino ratio: Return per unit of downside risk	-0.44	-0.05	-0.39
Omega ratio: Gain probability vs. loss probability	0.95	0.99	-0.05
Calmar ratio: Return relative to maximum drawdown	-0.51	-0.08	-0.42
Martin ratio: Return relative to average drawdown	-0.95	-0.16	-0.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XGVC.DE vs. XBAG.DE - Sharpe Ratio Comparison

The current XGVC.DE Sharpe Ratio is -0.34, which is lower than the XBAG.DE Sharpe Ratio of -0.05. The chart below compares the historical Sharpe Ratios of XGVC.DE and XBAG.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XGVC.DE	XBAG.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.34	-0.05	-0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.20	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.01	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.24	0.27	-0.52

Drawdowns

XGVC.DE vs. XBAG.DE - Drawdown Comparison

The maximum XGVC.DE drawdown since its inception was -15.47%, smaller than the maximum XBAG.DE drawdown of -16.64%. Use the drawdown chart below to compare losses from any high point for XGVC.DE and XBAG.DE.

Drawdown Indicators

	XGVC.DE	XBAG.DE	Difference
Max Drawdown Largest peak-to-trough decline	-15.47%	-16.64%	+1.17%
Max Drawdown (1Y) Largest decline over 1 year	-2.66%	-2.44%	-0.22%
Max Drawdown (3Y) Largest decline over 3 years	-7.10%	-7.49%	+0.39%
Max Drawdown (5Y) Largest decline over 5 years	—	-15.81%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-16.64%	—
Current Drawdown Current decline from peak	-12.39%	-12.21%	-0.18%
Average Drawdown Average peak-to-trough decline	-10.81%	-6.65%	-4.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.42%	1.23%	+0.19%

Volatility

XGVC.DE vs. XBAG.DE - Volatility Comparison

Xtrackers II ESG Global Government Bond UCITS ETF (XGVC.DE) has a higher volatility of 1.54% compared to Xtrackers II ESG Global Aggregate Bond UCITS ETF 1D (XBAG.DE) at 0.99%. This indicates that XGVC.DE's price experiences larger fluctuations and is considered to be riskier than XBAG.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XGVC.DE	XBAG.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.54%	0.99%	+0.55%
Volatility (6M) Calculated over the trailing 6-month period	3.05%	2.67%	+0.38%
Volatility (1Y) Calculated over the trailing 1-year period	4.00%	3.78%	+0.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.22%	6.08%	+0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.22%	5.92%	+0.30%

XGVC.DE vs. XBAG.DE - Expense Ratio Comparison

XGVC.DE has a 0.20% expense ratio, which is higher than XBAG.DE'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

XGVC.DE vs. XBAG.DE - Dividend Comparison

XGVC.DE has not paid dividends to shareholders, while XBAG.DE's dividend yield for the trailing twelve months is around 3.00%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
XBAG.DE Xtrackers II ESG Global Aggregate Bond UCITS ETF 1D	3.00%	2.94%	3.16%	2.22%	2.78%	0.82%	1.47%	1.76%	1.36%	1.11%	2.04%
XGVC.DE Xtrackers II ESG Global Government Bond UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XGVC.DE and XBAG.DE in my portfolio?

XGVC.DE and XBAG.DE have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XGVC.DE or XBAG.DE?

On fees, XBAG.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XGVC.DE or XBAG.DE?

XBAG.DE is cheaper with a 0.10% expense ratio, compared with 0.20% for XGVC.DE.

What is the main difference between XGVC.DE and XBAG.DE?

XGVC.DE tracks FTSE ESG Select World Government Bond Developed Markets, while XBAG.DE tracks Bloomberg Global Aggregate TR USD. Their fees differ too: 0.20% for XGVC.DE and 0.10% for XBAG.DE.