XZEG.DE vs. XDWH.DE

Last updated Jun 5, 2026

XZEG.DE (Xtrackers II ESG Global Government Bond UCITS ETF 4D EUR Hedged) and XDWH.DE (Xtrackers MSCI World Health Care UCITS ETF 1C) are both exchange-traded funds - XZEG.DE is a Global Bonds fund tracking the FTSE ESG Select World Government Bond Developed Markets (EUR Hedged), while XDWH.DE is a Health & Biotech Equities fund tracking the MSCI World/Health Care NR USD. Both are passively managed. Over the past 3 years, XZEG.DE returned 0.67%/yr vs 2.67%/yr for XDWH.DE. At a 0.10 correlation, their price movements are largely independent. Both charge a 0.25% expense ratio.

Performance

XZEG.DE vs. XDWH.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Xtrackers II ESG Global Government Bond UCITS ETF 4D EUR Hedged (XZEG.DE) and Xtrackers MSCI World Health Care UCITS ETF 1C (XDWH.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XZEG.DE achieves a -0.85% return, which is significantly higher than XDWH.DE's -1.98% return.

XZEG.DE

• 1D: 0.00%
• 1M: 0.31%
• YTD: -0.85%
• 6M: -0.99%
• 1Y: -0.59%
• 3Y*: 0.67%
• 5Y*: —
• 10Y*: —

XDWH.DE

• 1D: 2.85%
• 1M: 3.94%
• YTD: -1.98%
• 6M: -1.54%
• 1Y: 9.60%
• 3Y*: 2.67%
• 5Y*: 5.50%
• 10Y*: 7.61%

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

XZEG.DE vs. XDWH.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XZEG.DE Xtrackers II ESG Global Government Bond UCITS ETF 4D EUR Hedged	-0.85%	0.96%	-1.08%	3.63%	-17.03%	-1.50%
XDWH.DE Xtrackers MSCI World Health Care UCITS ETF 1C	-1.98%	2.21%	7.44%	0.04%	-0.07%	4.47%

Correlation

The correlation between XZEG.DE and XDWH.DE is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (All Time) Calculated using the full available price history since Dec 15, 2021	0.10

The correlation between XZEG.DE and XDWH.DE shifts across timeframes, from 0.10 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

XZEG.DE vs. XDWH.DE — Risk / Return Rank

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

XZEG.DE

XZEG.DE Risk / Return Rank: 7
XZEG.DE Sharpe Ratio Rank: 7
XZEG.DE Sortino Ratio Rank: 7
XZEG.DE Omega Ratio Rank: 6
XZEG.DE Calmar Ratio Rank: 8
XZEG.DE Martin Ratio Rank: 7

XDWH.DE

XDWH.DE Risk / Return Rank: 21
XDWH.DE Sharpe Ratio Rank: 21
XDWH.DE Sortino Ratio Rank: 22
XDWH.DE Omega Ratio Rank: 21
XDWH.DE Calmar Ratio Rank: 22
XDWH.DE Martin Ratio Rank: 20

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.

XZEG.DE vs. XDWH.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 Xtrackers MSCI World Health Care UCITS ETF 1C (XDWH.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	XDWH.DE	Difference
Sharpe ratio: Return per unit of total volatility	-0.16	0.70	-0.86
Sortino ratio: Return per unit of downside risk	-0.20	1.14	-1.34
Omega ratio: Gain probability vs. loss probability	0.98	1.13	-0.15
Calmar ratio: Return relative to maximum drawdown	-0.16	0.93	-1.09
Martin ratio: Return relative to average drawdown	-0.44	2.28	-2.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XZEG.DE vs. XDWH.DE - Sharpe Ratio Comparison

The current XZEG.DE Sharpe Ratio is -0.16, which is lower than the XDWH.DE Sharpe Ratio of 0.70. The chart below compares the historical Sharpe Ratios of XZEG.DE and XDWH.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

	XZEG.DE	XDWH.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.16	0.70	-0.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.41	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.51	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.66	0.55	-1.21

Drawdowns

XZEG.DE vs. XDWH.DE - Drawdown Comparison

The maximum XZEG.DE drawdown since its inception was -21.14%, smaller than the maximum XDWH.DE drawdown of -26.08%. Use the drawdown chart below to compare losses from any high point for XZEG.DE and XDWH.DE.

Drawdown Indicators

	XZEG.DE	XDWH.DE	Difference
Max Drawdown Largest peak-to-trough decline	-21.14%	-26.08%	+4.94%
Max Drawdown (1Y) Largest decline over 1 year	-3.70%	-10.32%	+6.62%
Max Drawdown (3Y) Largest decline over 3 years	-4.32%	-21.12%	+16.80%
Max Drawdown (5Y) Largest decline over 5 years	—	-21.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-26.08%	—
Current Drawdown Current decline from peak	-16.14%	-8.51%	-7.63%
Average Drawdown Average peak-to-trough decline	-15.25%	-4.82%	-10.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.34%	4.20%	-2.86%

Volatility

XZEG.DE vs. XDWH.DE - Volatility Comparison

The current volatility for Xtrackers II ESG Global Government Bond UCITS ETF 4D EUR Hedged (XZEG.DE) is 1.42%, while Xtrackers MSCI World Health Care UCITS ETF 1C (XDWH.DE) has a volatility of 4.81%. This indicates that XZEG.DE experiences smaller price fluctuations and is considered to be less risky than XDWH.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XZEG.DE	XDWH.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.42%	4.81%	-3.39%
Volatility (6M) Calculated over the trailing 6-month period	2.94%	9.51%	-6.57%
Volatility (1Y) Calculated over the trailing 1-year period	3.62%	13.69%	-10.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.79%	13.43%	-7.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.79%	14.69%	-8.90%

XZEG.DE vs. XDWH.DE - Expense Ratio Comparison

Both XZEG.DE and XDWH.DE 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

XZEG.DE vs. XDWH.DE - Dividend Comparison

XZEG.DE's dividend yield for the trailing twelve months is around 2.53%, while XDWH.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
XDWH.DE Xtrackers MSCI World Health Care UCITS ETF 1C	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

Can I hold both XZEG.DE and XDWH.DE in my portfolio?

XZEG.DE and XDWH.DE have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XZEG.DE or XDWH.DE?

Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XZEG.DE or XDWH.DE?

XZEG.DE and XDWH.DE have the same expense ratio: 0.25% per year.

What is the main difference between XZEG.DE and XDWH.DE?

XZEG.DE is categorized as Global Bonds, while XDWH.DE is Health & Biotech Equities. XZEG.DE tracks FTSE ESG Select World Government Bond Developed Markets (EUR Hedged), while XDWH.DE tracks MSCI World/Health Care NR USD.