XZWG.DE vs. HGGA.DE
XZWG.DE (Xtrackers II ESG Global Government Bond UCITS ETF) and HGGA.DE (HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF) are both Global Bonds funds - XZWG.DE tracks the Bloomberg Global Aggregate TR Hdg EUR while HGGA.DE tracks the Bloomberg MSCI Global Aggregate 1-3 SRI Carbon ESG-Weighted. Both are passively managed. Over the past 3 years, XZWG.DE returned -0.15%/yr vs 0.90%/yr for HGGA.DE. A 0.53 correlation means they provide meaningful diversification when combined. XZWG.DE charges 0.20%/yr vs 0.18%/yr for HGGA.DE.
Performance
XZWG.DE vs. HGGA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XZWG.DE achieves a 0.27% return, which is significantly lower than HGGA.DE's 1.31% return.
XZWG.DE
- 1D
- 0.08%
- 1M
- 0.23%
- YTD
- 0.27%
- 6M
- -0.11%
- 1Y
- -1.04%
- 3Y*
- -0.15%
- 5Y*
- —
- 10Y*
- —
HGGA.DE
- 1D
- 0.00%
- 1M
- 0.50%
- YTD
- 1.31%
- 6M
- 0.88%
- 1Y
- 0.39%
- 3Y*
- 0.90%
- 5Y*
- —
- 10Y*
- —
XZWG.DE vs. HGGA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XZWG.DE Xtrackers II ESG Global Government Bond UCITS ETF | 0.27% | -4.17% | 1.51% | 2.50% | -15.59% |
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 XZWG.DE and HGGA.DE is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2022 | 0.53 |
The correlation between XZWG.DE and HGGA.DE has been stable across timeframes, ranging from 0.47 to 0.53 - a consistent structural relationship.
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Return for Risk
XZWG.DE vs. HGGA.DE — Risk / Return Rank
XZWG.DE
HGGA.DE
XZWG.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 (XZWG.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.
| XZWG.DE | HGGA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.55 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.01 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.51 | 0.08 | -0.60 |
| Martin ratioReturn relative to average drawdown | -0.97 | 0.17 | -1.14 |
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
| XZWG.DE | HGGA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.35 | 0.05 | -0.40 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.64 | 0.04 | -0.68 |
Drawdowns
XZWG.DE vs. HGGA.DE - Drawdown Comparison
The maximum XZWG.DE drawdown since its inception was -20.85%, 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 XZWG.DE and HGGA.DE.
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Drawdown Indicators
| XZWG.DE | HGGA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.85% | -8.58% | -12.27% |
Max Drawdown (1Y)Largest decline over 1 year | -2.66% | -2.04% | -0.62% |
Max Drawdown (3Y)Largest decline over 3 years | -7.10% | -6.78% | -0.32% |
Current DrawdownCurrent decline from peak | -17.96% | -4.56% | -13.40% |
Average DrawdownAverage peak-to-trough decline | -15.29% | -4.18% | -11.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.41% | 1.02% | +0.39% |
Volatility
XZWG.DE vs. HGGA.DE - Volatility Comparison
Xtrackers II ESG Global Government Bond UCITS ETF (XZWG.DE) has a higher volatility of 1.43% compared to HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF (HGGA.DE) at 0.53%. This indicates that XZWG.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.
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Volatility by Period
| XZWG.DE | HGGA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.43% | 0.53% | +0.90% |
Volatility (6M)Calculated over the trailing 6-month period | 2.90% | 2.33% | +0.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.87% | 3.42% | +0.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.68% | 4.98% | +1.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.68% | 4.98% | +1.70% |
XZWG.DE vs. HGGA.DE - Expense Ratio Comparison
XZWG.DE has a 0.20% 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
XZWG.DE vs. HGGA.DE - Dividend Comparison
XZWG.DE's dividend yield for the trailing twelve months is around 2.58%, 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% |
XZWG.DE Xtrackers II ESG Global Government Bond UCITS ETF | 2.58% | 2.53% | 2.56% | 1.74% | 1.16% |
Frequently Asked Questions
XZWG.DE and HGGA.DE have a correlation of 0.47, 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 0.20% for XZWG.DE.
XZWG.DE tracks Bloomberg Global Aggregate TR Hdg EUR, while HGGA.DE tracks Bloomberg MSCI Global Aggregate 1-3 SRI Carbon ESG-Weighted. They also come from different issuers: DWS and HSBC. Their fees differ too: 0.20% for XZWG.DE and 0.18% for HGGA.DE.
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