XZEG.DE vs. HGGA.DE
XZEG.DE (Xtrackers II ESG Global Government Bond UCITS ETF 4D EUR Hedged) and HGGA.DE (HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF) are both Global Bonds funds - XZEG.DE tracks the FTSE ESG Select World Government Bond Developed Markets (EUR Hedged) while HGGA.DE tracks the Bloomberg MSCI Global Aggregate 1-3 SRI Carbon ESG-Weighted. Both are passively managed. Over the past 3 years, XZEG.DE returned 0.67%/yr vs 0.90%/yr for HGGA.DE. At a 0.16 correlation, their price movements are largely independent. XZEG.DE charges 0.25%/yr vs 0.18%/yr for HGGA.DE.
Performance
XZEG.DE vs. HGGA.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XZEG.DE achieves a -0.85% return, which is significantly lower than HGGA.DE's 1.31% return.
XZEG.DE
- 1D
- 0.00%
- 1M
- 0.31%
- YTD
- -0.85%
- 6M
- -0.99%
- 1Y
- -0.59%
- 3Y*
- 0.67%
- 5Y*
- —
- 10Y*
- —
HGGA.DE
- 1D
- 0.00%
- 1M
- 0.48%
- YTD
- 1.31%
- 6M
- 0.93%
- 1Y
- 0.17%
- 3Y*
- 0.90%
- 5Y*
- —
- 10Y*
- —
XZEG.DE vs. HGGA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XZEG.DE Xtrackers II ESG Global Government Bond UCITS ETF 4D EUR Hedged | -0.85% | 0.96% | -1.08% | 3.63% | -15.78% |
HGGA.DE HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF | 1.31% | -4.17% | 5.69% | 0.16% | -1.86% |
Correlation
The correlation between XZEG.DE and HGGA.DE is -0.10, 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 | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2022 | 0.16 |
The correlation between XZEG.DE and HGGA.DE shifts across timeframes, from -0.10 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XZEG.DE vs. HGGA.DE — Risk / Return Rank
XZEG.DE
HGGA.DE
XZEG.DE vs. HGGA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II ESG Global Government Bond UCITS ETF 4D EUR Hedged (XZEG.DE) and HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF (HGGA.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.
| XZEG.DE | HGGA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.01 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.16 | 0.08 | -0.24 |
| Martin ratioReturn relative to average drawdown | -0.44 | 0.17 | -0.61 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| XZEG.DE | HGGA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.16 | 0.05 | -0.21 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.66 | 0.04 | -0.70 |
Drawdowns
XZEG.DE vs. HGGA.DE - Drawdown Comparison
The maximum XZEG.DE drawdown since its inception was -21.14%, which is greater than HGGA.DE's maximum drawdown of -8.58%. Use the drawdown chart below to compare losses from any high point for XZEG.DE and HGGA.DE.
Loading charts...
Drawdown Indicators
| XZEG.DE | HGGA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.14% | -8.58% | -12.56% |
Max Drawdown (1Y)Largest decline over 1 year | -3.70% | -2.04% | -1.66% |
Max Drawdown (3Y)Largest decline over 3 years | -4.32% | -6.78% | +2.46% |
Current DrawdownCurrent decline from peak | -16.14% | -4.56% | -11.58% |
Average DrawdownAverage peak-to-trough decline | -15.25% | -4.18% | -11.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.34% | 1.02% | +0.32% |
Volatility
XZEG.DE vs. HGGA.DE - Volatility Comparison
Xtrackers II ESG Global Government Bond UCITS ETF 4D EUR Hedged (XZEG.DE) has a higher volatility of 1.42% compared to HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF (HGGA.DE) at 0.53%. This indicates that XZEG.DE's price experiences larger fluctuations and is considered to be riskier than HGGA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XZEG.DE | HGGA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.42% | 0.53% | +0.89% |
Volatility (6M)Calculated over the trailing 6-month period | 2.94% | 2.33% | +0.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.62% | 3.42% | +0.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.79% | 4.98% | +0.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.79% | 4.98% | +0.81% |
XZEG.DE vs. HGGA.DE - Expense Ratio Comparison
XZEG.DE has a 0.25% expense ratio, which is higher than HGGA.DE's 0.18% 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
XZEG.DE vs. HGGA.DE - Dividend Comparison
XZEG.DE's dividend yield for the trailing twelve months is around 2.53%, while HGGA.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HGGA.DE HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XZEG.DE Xtrackers II ESG Global Government Bond UCITS ETF 4D EUR Hedged | 2.53% | 2.40% | 2.55% | 1.67% | 1.10% |
Frequently Asked Questions
XZEG.DE and HGGA.DE have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HGGA.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HGGA.DE is cheaper with a 0.18% expense ratio, compared with 0.25% for XZEG.DE.
XZEG.DE tracks FTSE ESG Select World Government Bond Developed Markets (EUR Hedged), while HGGA.DE tracks Bloomberg MSCI Global Aggregate 1-3 SRI Carbon ESG-Weighted. They also come from different issuers: Xtrackers and HSBC. Their fees differ too: 0.25% for XZEG.DE and 0.18% for HGGA.DE.
Find the right allocation for XZEG.DE and HGGA.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer