XZWG.DE vs. IS0Z.DE
XZWG.DE (Xtrackers II ESG Global Government Bond UCITS ETF) and IS0Z.DE (iShares Global AAA-AA Government Bond UCITS ETF (Dist)) are both Global Bonds funds - XZWG.DE tracks the Bloomberg Global Aggregate TR Hdg EUR while IS0Z.DE tracks the Bloomberg Global Government AAA-AA Capped Bond. Both are passively managed. Over the past 3 years, XZWG.DE returned -0.15%/yr vs 1.18%/yr for IS0Z.DE. Their correlation of 0.94 suggests significant overlap in exposure. Both charge a 0.20% expense ratio.
Performance
XZWG.DE vs. IS0Z.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 IS0Z.DE's 1.29% return.
XZWG.DE
- 1D
- 0.08%
- 1M
- 0.23%
- YTD
- 0.27%
- 6M
- -0.11%
- 1Y
- -1.04%
- 3Y*
- -0.15%
- 5Y*
- —
- 10Y*
- —
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%
XZWG.DE vs. IS0Z.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XZWG.DE Xtrackers II ESG Global Government Bond UCITS ETF | 0.27% | -4.17% | 1.51% | 2.50% | -16.73% | -1.34% |
IS0Z.DE iShares Global AAA-AA Government Bond UCITS ETF (Dist) | 1.29% | -1.88% | 0.75% | 4.39% | -16.12% | -1.03% |
Correlation
The correlation between XZWG.DE and IS0Z.DE is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Dec 15, 2021 | 0.94 |
The correlation between XZWG.DE and IS0Z.DE has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.
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Return for Risk
XZWG.DE vs. IS0Z.DE — Risk / Return Rank
XZWG.DE
IS0Z.DE
XZWG.DE vs. IS0Z.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 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.
| XZWG.DE | IS0Z.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.57 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.01 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.51 | 0.09 | -0.61 |
| Martin ratioReturn relative to average drawdown | -0.97 | 0.19 | -1.16 |
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 | IS0Z.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.35 | 0.06 | -0.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.34 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.64 | 0.05 | -0.69 |
Drawdowns
XZWG.DE vs. IS0Z.DE - Drawdown Comparison
The maximum XZWG.DE drawdown since its inception was -20.85%, roughly equal to the maximum IS0Z.DE drawdown of -21.02%. Use the drawdown chart below to compare losses from any high point for XZWG.DE and IS0Z.DE.
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Drawdown Indicators
| XZWG.DE | IS0Z.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.85% | -21.02% | +0.17% |
Max Drawdown (1Y)Largest decline over 1 year | -2.66% | -2.50% | -0.16% |
Max Drawdown (3Y)Largest decline over 3 years | -7.10% | -5.11% | -1.99% |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.65% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.02% | — |
Current DrawdownCurrent decline from peak | -17.96% | -15.06% | -2.90% |
Average DrawdownAverage peak-to-trough decline | -15.29% | -7.48% | -7.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.41% | 1.21% | +0.20% |
Volatility
XZWG.DE vs. IS0Z.DE - Volatility Comparison
The current volatility for Xtrackers II ESG Global Government Bond UCITS ETF (XZWG.DE) is 1.43%, while iShares Global AAA-AA Government Bond UCITS ETF (Dist) (IS0Z.DE) has a volatility of 1.69%. This indicates that XZWG.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
| XZWG.DE | IS0Z.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.43% | 1.69% | -0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 2.90% | 3.07% | -0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.87% | 3.82% | +0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.68% | 6.19% | +0.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.68% | 5.66% | +1.02% |
XZWG.DE vs. IS0Z.DE - Expense Ratio Comparison
Both XZWG.DE and IS0Z.DE have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
XZWG.DE vs. IS0Z.DE - Dividend Comparison
XZWG.DE's dividend yield for the trailing twelve months is around 2.58%, less 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% |
XZWG.DE Xtrackers II ESG Global Government Bond UCITS ETF | 2.58% | 2.53% | 2.56% | 1.74% | 1.16% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XZWG.DE and IS0Z.DE have a correlation of 0.88, 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 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
XZWG.DE and IS0Z.DE have the same expense ratio: 0.20% per year.
XZWG.DE tracks Bloomberg Global Aggregate TR Hdg EUR, while IS0Z.DE tracks Bloomberg Global Government AAA-AA Capped Bond. They also come from different issuers: DWS and iShares.
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