XZWG.L vs. AGGG.L
XZWG.L (Xtrackers II ESG Global Government Bond UCITS ETF) and AGGG.L (iShares Global Aggregate Bond UCITS Dist) are both Global Bonds funds - XZWG.L tracks the Bloomberg Global Aggregate TR Hdg EUR while AGGG.L tracks the Bloomberg Global Aggregate TR USD. Both are passively managed. Over the past 3 years, XZWG.L returned 2.54%/yr vs 3.42%/yr for AGGG.L. Their correlation of 0.92 suggests significant overlap in exposure. XZWG.L charges 0.20%/yr vs 0.10%/yr for AGGG.L.
Performance
XZWG.L vs. AGGG.L - Performance Comparison
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Returns By Period
In the year-to-date period, XZWG.L achieves a -0.93% return, which is significantly lower than AGGG.L's -0.28% return.
XZWG.L
- 1D
- 0.17%
- 1M
- -0.13%
- YTD
- -0.93%
- 6M
- -0.55%
- 1Y
- 0.34%
- 3Y*
- 2.54%
- 5Y*
- —
- 10Y*
- —
AGGG.L
- 1D
- 0.08%
- 1M
- -0.26%
- YTD
- -0.28%
- 6M
- 0.43%
- 1Y
- 2.20%
- 3Y*
- 3.42%
- 5Y*
- -1.74%
- 10Y*
- —
XZWG.L vs. AGGG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XZWG.L Xtrackers II ESG Global Government Bond UCITS ETF | -0.93% | 7.85% | -4.18% | 6.19% | -21.45% | -0.83% |
AGGG.L iShares Global Aggregate Bond UCITS Dist | -0.28% | 8.06% | -1.44% | 5.27% | -15.93% | -0.25% |
Correlation
The correlation between XZWG.L and AGGG.L is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Dec 16, 2021 | 0.92 |
The correlation between XZWG.L and AGGG.L has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.
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Return for Risk
XZWG.L vs. AGGG.L — Risk / Return Rank
XZWG.L
AGGG.L
XZWG.L vs. AGGG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II ESG Global Government Bond UCITS ETF (XZWG.L) and iShares Global Aggregate Bond UCITS Dist (AGGG.L). 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.L | AGGG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.56 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.08 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.08 | 0.63 | -0.55 |
| Martin ratioReturn relative to average drawdown | 0.19 | 1.66 | -1.48 |
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.L | AGGG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.05 | 0.43 | -0.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.26 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.42 | 0.05 | -0.48 |
Drawdowns
XZWG.L vs. AGGG.L - Drawdown Comparison
The maximum XZWG.L drawdown since its inception was -27.49%, which is greater than AGGG.L's maximum drawdown of -25.91%. Use the drawdown chart below to compare losses from any high point for XZWG.L and AGGG.L.
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Drawdown Indicators
| XZWG.L | AGGG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.49% | -25.91% | -1.58% |
Max Drawdown (1Y)Largest decline over 1 year | -4.29% | -3.48% | -0.81% |
Max Drawdown (3Y)Largest decline over 3 years | -9.10% | -7.20% | -1.90% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.24% | — |
Current DrawdownCurrent decline from peak | -15.46% | -11.01% | -4.45% |
Average DrawdownAverage peak-to-trough decline | -17.81% | -9.53% | -8.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.80% | 1.32% | +0.48% |
Volatility
XZWG.L vs. AGGG.L - Volatility Comparison
Xtrackers II ESG Global Government Bond UCITS ETF (XZWG.L) has a higher volatility of 2.37% compared to iShares Global Aggregate Bond UCITS Dist (AGGG.L) at 1.74%. This indicates that XZWG.L's price experiences larger fluctuations and is considered to be riskier than AGGG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XZWG.L | AGGG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.37% | 1.74% | +0.63% |
Volatility (6M)Calculated over the trailing 6-month period | 4.91% | 3.91% | +1.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.35% | 5.10% | +1.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.63% | 6.81% | +1.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.63% | 6.32% | +2.31% |
XZWG.L vs. AGGG.L - Expense Ratio Comparison
XZWG.L has a 0.20% expense ratio, which is higher than AGGG.L'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.L vs. AGGG.L - Dividend Comparison
XZWG.L's dividend yield for the trailing twelve months is around 2.59%, less than AGGG.L's 3.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
AGGG.L iShares Global Aggregate Bond UCITS Dist | 3.16% | 2.97% | 2.74% | 2.01% | 1.55% | 1.33% | 1.46% | 1.62% | 0.96% |
XZWG.L Xtrackers II ESG Global Government Bond UCITS ETF | 2.59% | 2.42% | 2.65% | 1.69% | 1.11% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.93, XZWG.L and AGGG.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, AGGG.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AGGG.L is cheaper with a 0.10% expense ratio, compared with 0.20% for XZWG.L.
XZWG.L tracks Bloomberg Global Aggregate TR Hdg EUR, while AGGG.L tracks Bloomberg Global Aggregate TR USD. They also come from different issuers: DWS and iShares. Their fees differ too: 0.20% for XZWG.L and 0.10% for AGGG.L.
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