XZWG.DE vs. XBAE.DE
XZWG.DE (Xtrackers II ESG Global Government Bond UCITS ETF) and XBAE.DE (Xtrackers II ESG Global Aggregate Bond UCITS ETF 5C EUR hedged) are both Global Bonds funds - XZWG.DE tracks the Bloomberg Global Aggregate TR Hdg EUR while XBAE.DE tracks the Bloomberg MSCI Global Aggregate Sustainable and SRI Currency Neutral (EUR Hedged). Both are passively managed. Over the past 3 years, XZWG.DE returned -0.15%/yr vs 1.72%/yr for XBAE.DE. A 0.72 correlation means they provide meaningful diversification when combined. XZWG.DE charges 0.20%/yr vs 0.10%/yr for XBAE.DE.
Performance
XZWG.DE vs. XBAE.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 higher than XBAE.DE's -0.55% return.
XZWG.DE
- 1D
- 0.08%
- 1M
- 0.56%
- YTD
- 0.27%
- 6M
- -0.20%
- 1Y
- -1.37%
- 3Y*
- -0.15%
- 5Y*
- —
- 10Y*
- —
XBAE.DE
- 1D
- 0.05%
- 1M
- 0.08%
- YTD
- -0.55%
- 6M
- -0.69%
- 1Y
- 0.93%
- 3Y*
- 1.72%
- 5Y*
- -1.74%
- 10Y*
- -0.46%
XZWG.DE vs. XBAE.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% |
XBAE.DE Xtrackers II ESG Global Aggregate Bond UCITS ETF 5C EUR hedged | -0.55% | 2.65% | 0.52% | 4.36% | -14.60% | -0.72% |
Correlation
The correlation between XZWG.DE and XBAE.DE is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Dec 15, 2021 | 0.72 |
The correlation between XZWG.DE and XBAE.DE has been stable across timeframes, ranging from 0.63 to 0.73 - a consistent structural relationship.
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Return for Risk
XZWG.DE vs. XBAE.DE — Risk / Return Rank
XZWG.DE
XBAE.DE
XZWG.DE vs. XBAE.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 Xtrackers II ESG Global Aggregate Bond UCITS ETF 5C EUR hedged (XBAE.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 | XBAE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | -0.88 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.05 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.51 | 0.30 | -0.81 |
| Martin ratioReturn relative to average drawdown | -0.97 | 0.83 | -1.80 |
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 | XBAE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.35 | 0.27 | -0.62 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.35 | — |
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 | 0.08 | -0.72 |
Drawdowns
XZWG.DE vs. XBAE.DE - Drawdown Comparison
The maximum XZWG.DE drawdown since its inception was -20.85%, which is greater than XBAE.DE's maximum drawdown of -19.04%. Use the drawdown chart below to compare losses from any high point for XZWG.DE and XBAE.DE.
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Drawdown Indicators
| XZWG.DE | XBAE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.85% | -19.04% | -1.81% |
Max Drawdown (1Y)Largest decline over 1 year | -2.66% | -3.11% | +0.45% |
Max Drawdown (3Y)Largest decline over 3 years | -7.10% | -4.58% | -2.52% |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.29% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.04% | — |
Current DrawdownCurrent decline from peak | -17.96% | -10.88% | -7.08% |
Average DrawdownAverage peak-to-trough decline | -15.29% | -5.91% | -9.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.41% | 1.11% | +0.30% |
Volatility
XZWG.DE vs. XBAE.DE - Volatility Comparison
Xtrackers II ESG Global Government Bond UCITS ETF (XZWG.DE) has a higher volatility of 1.43% compared to Xtrackers II ESG Global Aggregate Bond UCITS ETF 5C EUR hedged (XBAE.DE) at 1.32%. This indicates that XZWG.DE's price experiences larger fluctuations and is considered to be riskier than XBAE.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 | XBAE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.43% | 1.32% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 2.90% | 2.86% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.87% | 3.46% | +0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.68% | 5.00% | +1.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.68% | 4.63% | +2.05% |
XZWG.DE vs. XBAE.DE - Expense Ratio Comparison
XZWG.DE has a 0.20% expense ratio, which is higher than XBAE.DE's 0.10% 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. XBAE.DE - Dividend Comparison
XZWG.DE's dividend yield for the trailing twelve months is around 2.58%, while XBAE.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
XBAE.DE Xtrackers II ESG Global Aggregate Bond UCITS ETF 5C EUR hedged | 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 XBAE.DE have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XBAE.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XBAE.DE is cheaper with a 0.10% expense ratio, compared with 0.20% for XZWG.DE.
XZWG.DE tracks Bloomberg Global Aggregate TR Hdg EUR, while XBAE.DE tracks Bloomberg MSCI Global Aggregate Sustainable and SRI Currency Neutral (EUR Hedged). They also come from different issuers: DWS and Xtrackers. Their fees differ too: 0.20% for XZWG.DE and 0.10% for XBAE.DE.
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