XGVD.DE vs. IWMO.MI
XGVD.DE (Xtrackers Global Government Bond UCITS ETF EUR hedged) and IWMO.MI (iShares Edge MSCI World Momentum Factor UCITS ETF (Acc)) are both exchange-traded funds - XGVD.DE is a Global Bonds fund tracking the FTSE World Government Bond - Developed Markets (EUR Hedged), while IWMO.MI is a Momentum fund tracking the MSCI World Momentum Index. Both are passively managed. Over the past 10 years, XGVD.DE returned -1.18%/yr vs 14.26%/yr for IWMO.MI. At a correlation of -0.05, they often move in opposite directions. Both charge a 0.25% expense ratio.
Performance
XGVD.DE vs. IWMO.MI - Performance Comparison
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Returns By Period
In the year-to-date period, XGVD.DE achieves a -1.14% return, which is significantly lower than IWMO.MI's 19.38% return. Over the past 10 years, XGVD.DE has underperformed IWMO.MI with an annualized return of -1.18%, while IWMO.MI has yielded a comparatively higher 14.26% annualized return.
XGVD.DE
- 1D
- 0.12%
- 1M
- -0.76%
- 6M
- -1.06%
- YTD
- -1.14%
- 1Y
- 0.01%
- 3Y*
- 0.64%
- 5Y*
- -2.82%
- 10Y*
- -1.18%
IWMO.MI
- 1D
- 0.00%
- 1M
- -5.50%
- 6M
- 14.41%
- YTD
- 19.38%
- 1Y
- 28.15%
- 3Y*
- 24.59%
- 5Y*
- 13.46%
- 10Y*
- 14.26%
XGVD.DE vs. IWMO.MI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XGVD.DE Xtrackers Global Government Bond UCITS ETF EUR hedged | -1.14% | 1.49% | -0.44% | 3.58% | -15.11% | -3.15% | 4.33% | 4.52% | -0.57% | -0.09% |
IWMO.MI iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) | 19.38% | 8.04% | 39.23% | 7.91% | -13.96% | 24.82% | 17.08% | 31.14% | 0.40% | 16.05% |
Correlation
The correlation between XGVD.DE and IWMO.MI is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Feb 17, 2015 | -0.05 |
The correlation between XGVD.DE and IWMO.MI shifts across timeframes, from -0.05 (all time) to 0.19 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XGVD.DE vs. IWMO.MI — Risk / Return Rank
XGVD.DE
IWMO.MI
XGVD.DE vs. IWMO.MI - 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 Edge MSCI World Momentum Factor UCITS ETF (Acc) (IWMO.MI). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| XGVD.DE | IWMO.MI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.46 | ||
| Sortino ratioReturn per unit of downside risk | -2.13 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.27 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 0.00 | 3.14 | -3.14 |
| Martin ratioReturn relative to average drawdown | 0.00 | 10.35 | -10.35 |
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Drawdowns
XGVD.DE vs. IWMO.MI - Drawdown Comparison
The maximum XGVD.DE drawdown since its inception was -21.37%, smaller than the maximum IWMO.MI drawdown of -31.03%. Use the drawdown chart below to compare losses from any high point for XGVD.DE and IWMO.MI.
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Drawdown Indicators
| XGVD.DE | IWMO.MI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.37% | -31.03% | +9.66% |
Max Drawdown (1Y)Largest decline over 1 year | -3.53% | -9.04% | +5.51% |
Max Drawdown (3Y)Largest decline over 3 years | -4.33% | -23.45% | +19.12% |
Max Drawdown (5Y)Largest decline over 5 years | -19.44% | -23.45% | +4.01% |
Max Drawdown (10Y)Largest decline over 10 years | -21.37% | -31.03% | +9.66% |
Current DrawdownCurrent decline from peak | -16.13% | -8.35% | -7.78% |
Average DrawdownAverage peak-to-trough decline | -6.53% | -5.83% | -0.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.50% | 2.73% | -1.23% |
Volatility
XGVD.DE vs. IWMO.MI - Volatility Comparison
The current volatility for Xtrackers Global Government Bond UCITS ETF EUR hedged (XGVD.DE) is 1.05%, while iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) (IWMO.MI) has a volatility of 8.46%. This indicates that XGVD.DE experiences smaller price fluctuations and is considered to be less risky than IWMO.MI 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 | IWMO.MI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | 8.46% | -7.41% |
Volatility (6M)Calculated over the trailing 6-month period | 2.91% | 16.70% | -13.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.54% | 19.50% | -15.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.99% | 17.79% | -12.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.30% | 17.79% | -13.49% |
XGVD.DE vs. IWMO.MI - Expense Ratio Comparison
Both XGVD.DE and IWMO.MI 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
XGVD.DE vs. IWMO.MI - Dividend Comparison
XGVD.DE's dividend yield for the trailing twelve months is around 2.74%, while IWMO.MI has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWMO.MI iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XGVD.DE Xtrackers Global Government Bond UCITS ETF EUR hedged | 2.74% | 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 IWMO.MI have a correlation of 0.19, 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.
XGVD.DE and IWMO.MI have the same expense ratio: 0.25% per year.
XGVD.DE is categorized as Global Bonds, while IWMO.MI is Momentum. XGVD.DE tracks FTSE World Government Bond - Developed Markets (EUR Hedged), while IWMO.MI tracks MSCI World Momentum Index. They also come from different issuers: Xtrackers and iShares.
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