XGVD.DE vs. IS0Z.DE
XGVD.DE (Xtrackers Global Government Bond UCITS ETF EUR hedged) and IS0Z.DE (iShares Global AAA-AA Government Bond UCITS ETF (Dist)) are both Global Bonds funds - XGVD.DE tracks the FTSE World Government Bond - Developed Markets (EUR Hedged) while IS0Z.DE tracks the Bloomberg Global Government AAA-AA Capped Bond. Both are passively managed. Over the past 10 years, XGVD.DE returned -0.99%/yr vs -0.58%/yr for IS0Z.DE. A 0.72 correlation means they provide meaningful diversification when combined. XGVD.DE charges 0.25%/yr vs 0.20%/yr for IS0Z.DE.
Performance
XGVD.DE vs. IS0Z.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XGVD.DE achieves a -0.89% return, which is significantly lower than IS0Z.DE's 1.29% return. Over the past 10 years, XGVD.DE has underperformed IS0Z.DE with an annualized return of -0.99%, while IS0Z.DE has yielded a comparatively higher -0.58% annualized return.
XGVD.DE
- 1D
- 0.01%
- 1M
- -0.26%
- YTD
- -0.89%
- 6M
- -0.81%
- 1Y
- -0.08%
- 3Y*
- 0.74%
- 5Y*
- -2.52%
- 10Y*
- -0.99%
IS0Z.DE
- 1D
- 0.06%
- 1M
- 0.21%
- YTD
- 1.29%
- 6M
- 1.26%
- 1Y
- 0.54%
- 3Y*
- 1.18%
- 5Y*
- -2.11%
- 10Y*
- -0.58%
XGVD.DE vs. IS0Z.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XGVD.DE Xtrackers Global Government Bond UCITS ETF EUR hedged | -0.89% | 1.49% | -0.44% | 3.58% | -15.11% | -3.15% | 4.33% | 4.52% | -0.57% | -0.09% |
IS0Z.DE iShares Global AAA-AA Government Bond UCITS ETF (Dist) | 1.29% | -1.88% | 0.75% | 4.39% | -16.12% | -0.07% | 2.03% | 7.04% | 1.73% | -3.57% |
Correlation
The correlation between XGVD.DE and IS0Z.DE is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2012 | 0.72 |
The correlation between XGVD.DE and IS0Z.DE shifts across timeframes, from 0.72 (all time) to 0.86 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
XGVD.DE vs. IS0Z.DE — Risk / Return Rank
XGVD.DE
IS0Z.DE
XGVD.DE vs. IS0Z.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers Global Government Bond UCITS ETF EUR hedged (XGVD.DE) and iShares Global AAA-AA Government Bond UCITS ETF (Dist) (IS0Z.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.
| XGVD.DE | IS0Z.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.01 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 0.09 | -0.14 |
| Martin ratioReturn relative to average drawdown | -0.14 | 0.19 | -0.33 |
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
| XGVD.DE | IS0Z.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.05 | 0.06 | -0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.50 | -0.34 | -0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.23 | -0.10 | -0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.11 | 0.05 | +0.06 |
Drawdowns
XGVD.DE vs. IS0Z.DE - Drawdown Comparison
The maximum XGVD.DE drawdown since its inception was -21.37%, roughly equal to the maximum IS0Z.DE drawdown of -21.02%. Use the drawdown chart below to compare losses from any high point for XGVD.DE and IS0Z.DE.
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Drawdown Indicators
| XGVD.DE | IS0Z.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.37% | -21.02% | -0.35% |
Max Drawdown (1Y)Largest decline over 1 year | -3.53% | -2.50% | -1.03% |
Max Drawdown (3Y)Largest decline over 3 years | -4.77% | -5.11% | +0.34% |
Max Drawdown (5Y)Largest decline over 5 years | -19.44% | -19.65% | +0.21% |
Max Drawdown (10Y)Largest decline over 10 years | -21.37% | -21.02% | -0.35% |
Current DrawdownCurrent decline from peak | -15.92% | -15.06% | -0.86% |
Average DrawdownAverage peak-to-trough decline | -6.52% | -7.48% | +0.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 1.21% | +0.09% |
Volatility
XGVD.DE vs. IS0Z.DE - Volatility Comparison
The current volatility for Xtrackers Global Government Bond UCITS ETF EUR hedged (XGVD.DE) is 1.38%, while iShares Global AAA-AA Government Bond UCITS ETF (Dist) (IS0Z.DE) has a volatility of 1.69%. This indicates that XGVD.DE experiences smaller price fluctuations and is considered to be less risky than IS0Z.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XGVD.DE | IS0Z.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.38% | 1.69% | -0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 2.83% | 3.07% | -0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.47% | 3.82% | -0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.98% | 6.19% | -1.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.31% | 5.66% | -1.35% |
XGVD.DE vs. IS0Z.DE - Expense Ratio Comparison
XGVD.DE has a 0.25% expense ratio, which is higher than IS0Z.DE's 0.20% 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
XGVD.DE vs. IS0Z.DE - Dividend Comparison
XGVD.DE's dividend yield for the trailing twelve months is around 2.73%, more than IS0Z.DE's 2.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IS0Z.DE iShares Global AAA-AA Government Bond UCITS ETF (Dist) | 2.67% | 2.51% | 2.30% | 1.57% | 0.80% | 0.47% | 0.62% | 0.88% | 0.90% | 0.82% | 0.84% | 1.06% |
XGVD.DE Xtrackers Global Government Bond UCITS ETF EUR hedged | 2.73% | 2.55% | 2.71% | 1.79% | 2.86% | 1.60% | 1.01% | 0.89% | 0.65% | 0.00% | 0.93% | 0.70% |
Frequently Asked Questions
XGVD.DE and IS0Z.DE have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IS0Z.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IS0Z.DE is cheaper with a 0.20% expense ratio, compared with 0.25% for XGVD.DE.
XGVD.DE tracks FTSE World Government Bond - Developed Markets (EUR Hedged), while IS0Z.DE tracks Bloomberg Global Government AAA-AA Capped Bond. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.25% for XGVD.DE and 0.20% for IS0Z.DE.
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