XZWG.L vs. XDEM.L

Last updated Jun 5, 2026

XZWG.L (Xtrackers II ESG Global Government Bond UCITS ETF) and XDEM.L (Xtrackers MSCI World Momentum Factor UCITS ETF 1C) are both exchange-traded funds - XZWG.L is a Global Bonds fund tracking the Bloomberg Global Aggregate TR Hdg EUR, while XDEM.L is a Momentum fund tracking the MSCI World Momentum Index. Both are passively managed. Over the past 3 years, XZWG.L returned 2.54%/yr vs 29.56%/yr for XDEM.L. At a 0.25 correlation, their price movements are largely independent. XZWG.L charges 0.20%/yr vs 0.25%/yr for XDEM.L.

Performance

XZWG.L vs. XDEM.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers II ESG Global Government Bond UCITS ETF (XZWG.L) and Xtrackers MSCI World Momentum Factor UCITS ETF 1C (XDEM.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XZWG.L is traded in USD, while XDEM.L is traded in GBp. To make them comparable, the XDEM.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XZWG.L achieves a -0.93% return, which is significantly lower than XDEM.L's 22.08% return.

XZWG.L

• 1D: 0.17%
• 1M: -0.13%
• YTD: -0.93%
• 6M: -0.55%
• 1Y: 0.34%
• 3Y*: 2.54%
• 5Y*: —
• 10Y*: —

XDEM.L

• 1D: -0.60%
• 1M: 8.17%
• YTD: 22.08%
• 6M: 23.71%
• 1Y: 33.99%
• 3Y*: 29.56%
• 5Y*: 13.72%
• 10Y*: 15.93%

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

XZWG.L vs. XDEM.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%
XDEM.L Xtrackers MSCI World Momentum Factor UCITS ETF 1C	22.08%	21.01%	30.65%	11.47%	-17.89%	3.03%

Correlation

The correlation between XZWG.L and XDEM.L is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (All Time) Calculated using the full available price history since Dec 16, 2021	0.25

Return for Risk

XZWG.L vs. XDEM.L — Risk / Return Rank

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

XZWG.L

XZWG.L Risk / Return Rank: 9
XZWG.L Sharpe Ratio Rank: 10
XZWG.L Sortino Ratio Rank: 9
XZWG.L Omega Ratio Rank: 9
XZWG.L Calmar Ratio Rank: 10
XZWG.L Martin Ratio Rank: 10

XDEM.L

XDEM.L Risk / Return Rank: 72
XDEM.L Sharpe Ratio Rank: 67
XDEM.L Sortino Ratio Rank: 72
XDEM.L Omega Ratio Rank: 66
XDEM.L Calmar Ratio Rank: 78
XDEM.L Martin Ratio Rank: 79

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.

XZWG.L vs. XDEM.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 Xtrackers MSCI World Momentum Factor UCITS ETF 1C (XDEM.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	XDEM.L	Difference
Sharpe ratio: Return per unit of total volatility	0.05	1.91	-1.86
Sortino ratio: Return per unit of downside risk	0.12	2.94	-2.82
Omega ratio: Gain probability vs. loss probability	1.01	1.34	-0.33
Calmar ratio: Return relative to maximum drawdown	0.08	2.87	-2.79
Martin ratio: Return relative to average drawdown	0.19	12.16	-11.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XZWG.L vs. XDEM.L - Sharpe Ratio Comparison

The current XZWG.L Sharpe Ratio is 0.05, which is lower than the XDEM.L Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of XZWG.L and XDEM.L, 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

	XZWG.L	XDEM.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.05	1.91	-1.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.75	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.89	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.42	0.82	-1.24

Drawdowns

XZWG.L vs. XDEM.L - Drawdown Comparison

The maximum XZWG.L drawdown since its inception was -27.49%, smaller than the maximum XDEM.L drawdown of -30.68%. Use the drawdown chart below to compare losses from any high point for XZWG.L and XDEM.L.

Drawdown Indicators

	XZWG.L	XDEM.L	Difference
Max Drawdown Largest peak-to-trough decline	-27.49%	-30.68%	+3.19%
Max Drawdown (1Y) Largest decline over 1 year	-4.29%	-11.79%	+7.50%
Max Drawdown (3Y) Largest decline over 3 years	-9.10%	-19.41%	+10.31%
Max Drawdown (5Y) Largest decline over 5 years	—	-30.57%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-30.68%	—
Current Drawdown Current decline from peak	-15.46%	-0.60%	-14.86%
Average Drawdown Average peak-to-trough decline	-17.81%	-6.34%	-11.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.80%	2.78%	-0.98%

Volatility

XZWG.L vs. XDEM.L - Volatility Comparison

The current volatility for Xtrackers II ESG Global Government Bond UCITS ETF (XZWG.L) is 2.37%, while Xtrackers MSCI World Momentum Factor UCITS ETF 1C (XDEM.L) has a volatility of 6.30%. This indicates that XZWG.L experiences smaller price fluctuations and is considered to be less risky than XDEM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XZWG.L	XDEM.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.37%	6.30%	-3.93%
Volatility (6M) Calculated over the trailing 6-month period	4.91%	15.28%	-10.37%
Volatility (1Y) Calculated over the trailing 1-year period	6.35%	17.68%	-11.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.63%	18.17%	-9.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.63%	17.80%	-9.17%

XZWG.L vs. XDEM.L - Expense Ratio Comparison

XZWG.L has a 0.20% expense ratio, which is lower than XDEM.L's 0.25% expense ratio. Despite the difference, 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. XDEM.L - Dividend Comparison

XZWG.L's dividend yield for the trailing twelve months is around 2.59%, while XDEM.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
XDEM.L Xtrackers MSCI World Momentum Factor UCITS ETF 1C	0.00%	0.00%	0.00%	0.00%	0.00%
XZWG.L Xtrackers II ESG Global Government Bond UCITS ETF	2.59%	2.42%	2.65%	1.69%	1.11%

Frequently Asked Questions

Can I hold both XZWG.L and XDEM.L in my portfolio?

XZWG.L and XDEM.L have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XZWG.L or XDEM.L?

On fees, XZWG.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XZWG.L or XDEM.L?

XZWG.L is cheaper with a 0.20% expense ratio, compared with 0.25% for XDEM.L.

What is the main difference between XZWG.L and XDEM.L?

XZWG.L is categorized as Global Bonds, while XDEM.L is Momentum. XZWG.L tracks Bloomberg Global Aggregate TR Hdg EUR, while XDEM.L tracks MSCI World Momentum Index. Their fees differ too: 0.20% for XZWG.L and 0.25% for XDEM.L.