Global Bonds tracking the FTSE World Government Bond Index - Developed Markets in EUR terms (EUR), physical replication, accumulating. Share class in euro (EUR), currency-hedged.
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Xtrackers Global Government Bond UCITS ETF 1c Eur Hedged tracks the issuer-declared index: FTSE World Government Bond Index - Developed Markets in EUR terms (EUR). Mind the share class: this is the version hedged to EUR — returns reflect the index plus the effect (and cost) of hedging into that currency. The declared annual cost (TER) is 0.25%, plus 0.02% in transaction costs estimated by the issuer in the KID. Replication is physical replication (the KID declares buying all or a substantial number of the index constituents); income is accumulated and reinvested in the fund. The fund has assets of about 2.2 billion euro, was launched on 20 October 2008 and is domiciled in Luxembourg. In our registry it is the largest by assets among the 2 ETFs declaring the same index.
The fund is passively managed.
INVESTMENT OBJECTIVE:The aim is for your investment to reflect the performance of the FTSE World Government Bond Index – Developed Markets (index), while seeking to minimise foreign currency fluctuations at share class level.
Keep reading the KID section ▾
DESCRIPTION OF INDEX:The index aims to reflect the performance of a range of fixed-rate, local currency, investmentgrade sovereign debt issued in developed markets.
To be included in the index, the debt must be i) issued by governments in developed countries; and ii) be deemed investment grade by major rating agencies. Certain other selection criteria may also be considered such as minimum issue size, time to maturity and market size.
INDEX REBALANCING, CALCULATION AND ADMINISTRATION:The index is calculated on a total return basis, which means that amounts equivalent to interest payments are reinvested in the index. The index is administered by FTSE Fixed Income LLC and is reviewed and rebalanced monthly.
INVESTMENT POLICY:To achieve the aim, the fund will i) attempt to replicate the index, before fees and expenses, by buying a portfolio of securities that may comprise the constituents of the index or other unrelated investments as determined by DWS entities and ii) enter into financial contracts (derivatives) which attempt to reduce the effect of exchange rate fluctuations between the currency of the fund's assets and the currency of your shares. The fund may employ techniques and instruments in order to manage risk, reduce costs and improve results. These techniques and instruments may include the use of derivatives. The fund may also engage in secured lending of its investments to certain eligible third parties to generate additional income to offset the costs of the fund. FURTHER INFORMATION: Certain information (including the latest share prices of the fund, indicative net asset values, full disclosure on the composition of the fund's portfolio and information on the index constituents) are available on your local DWS website or at www.Xtrackers.com. Transaction costs and taxes, unexpected fund costs and market conditions such as volatility or liquidity issues may affect the ability of the fund to track the index. The anticipated level of tracking error in normal market conditions is 1 per cent. The currency of the fund is EUR. Returns and gains are not distributed but are reinvested in the fund. You may request the redemption of shares generally on a daily basis.
Every month we snapshot the register and the holdings and keep the picture. The history shows how the fund changes, not only what it is today.
| From the peak of | Trough | Depth | Back to break-even | Days underwater |
|---|---|---|---|---|
| 09 Mar 2020 | 19 Oct 2023 | -21.52% | ongoing | 2,412 |
| 08 Jul 2016 | 10 Oct 2018 | -7.09% | 01 Aug 2019 | 1,119 |
| 06 Oct 2010 | 10 Feb 2011 | -4.00% | 04 Aug 2011 | 302 |
| 02 May 2013 | 05 Sept 2013 | -3.93% | 02 May 2014 | 365 |
| 02 Feb 2015 | 10 Jun 2015 | -3.59% | 29 Jan 2016 | 361 |
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sept | Oct | Nov | Dec | Year | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.1 | 1.7 | -2.4 | -0.1 | 0.4 | 0.3 | -1.4 | -0.2 | -2.0 | 1.1 | -2.8 | ||
| 2025 | 0.1 | 1.2 | -0.7 | 1.0 | -0.9 | 0.6 | -0.6 | 0.1 | 0.5 | 0.7 | -0.0 | -0.6 | 1.4 |
| 2024 | -0.6 | -1.0 | 0.7 | -2.0 | 0.4 | 0.6 | 1.9 | 0.9 | 1.0 | -1.8 | 1.1 | -1.4 | -0.4 |
| 2023 | 2.1 | -1.9 | 2.5 | 0.1 | -0.7 | -0.5 | -0.5 | -0.4 | -2.2 | -0.8 | 3.2 | 3.2 | 3.8 |
| 2022 | -1.6 | -1.2 | -2.4 | -3.0 | -0.9 | -1.4 | 2.2 | -3.4 | -3.5 | -0.6 | 1.9 | -2.5 | -15.3 |
| 2021 | -0.9 | -2.2 | -0.3 | -0.1 | 0.1 | 0.5 | 1.4 | -0.4 | -1.3 | -0.3 | 1.2 | -1.1 | -3.2 |
| 2020 | 2.1 | 1.4 | -0.1 | 0.7 | -0.2 | 0.2 | 0.9 | -1.2 | 0.8 | -0.2 | 0.1 | -0.0 | 4.5 |
| 2019 | 0.7 | -0.3 | 1.7 | -0.4 | 1.5 | 1.1 | 0.5 | 2.7 | -0.9 | -0.7 | -0.6 | -0.9 | 4.3 |
| 2018 | -0.9 | -0.2 | 0.9 | -0.6 | -0.0 | 0.1 | -0.5 | -0.1 | -0.7 | -0.2 | 0.4 | 1.3 | -0.5 |
| 2017 | -0.8 | 0.7 | -0.3 | 0.5 | 0.3 | -0.6 | 0.0 | 0.8 | -0.8 | 0.3 | 0.1 | -0.2 | 0.1 |
| 2016 | 1.9 | 1.2 | 0.4 | -0.3 | 0.5 | 2.2 | 0.1 | -0.4 | -0.3 | -1.5 | -1.8 | -0.0 | 2.0 |
| 2015 | 2.2 | -1.0 | 0.7 | -0.8 | -0.6 | -1.3 | 1.2 | -0.2 | 0.8 | 0.1 | -0.0 | -0.3 | 0.8 |
| 2014 | 1.6 | 0.3 | 0.1 | 0.6 | 0.8 | 0.3 | 0.3 | 1.3 | -0.3 | 0.7 | 1.1 | 0.8 | 8.0 |
| 2013 | -0.6 | 0.6 | 0.6 | 1.0 | -1.7 | -1.1 | 0.2 | -0.3 | 0.6 | 0.8 | -0.1 | -0.8 | -0.8 |
| 2012 | 0.6 | 0.1 | -0.4 | 0.7 | 1.6 | -0.5 | 1.1 | 0.0 | 0.2 | 0.0 | 0.7 | -0.1 | 3.9 |
| 2011 | -0.5 | -0.1 | -0.1 | 0.7 | 1.1 | -0.1 | 1.0 | 2.0 | 1.2 | -0.7 | -0.1 | 1.7 | 6.4 |
| 2010 | 0.7 | 0.5 | -0.1 | 0.4 | 1.3 | 0.8 | 0.5 | 2.0 | -0.4 | -0.4 | -1.3 | -0.5 | 3.5 |
| 2009 | -1.6 | 0.3 | 1.0 | -0.5 | -0.9 | 0.8 | 0.6 | 0.8 | 0.5 | -0.2 | 0.9 | -1.2 | 0.7 |
| 2008 | 3.1 | 2.0 | 5.4(since launch) |
We do not publish a tracking difference for this share class — and it is not an oversight.
this share class is hedged to EUR; the index the issuer places next to it in its documents is the unhedged, foreign-currency version. Subtracting one from the other does not measure replication quality: it measures the exchange rate. In a year when the currency moves 5%, “the TD” would come out near 5 points — a plausible-looking number, with decimals, and wrong.
Other sites publish that number. We would rather show one figure less than one figure wrong: the TD will return here the day we have the EUR-hedged index series, which the issuer does not publish today.
| Last year | Last 3 years | Last 5 years | Last 10 years | Full history | |
|---|---|---|---|---|---|
| Volatility (ann.) | 3.26% | 3.87% | 4.79% | 4.04% | 3.54% |
| Max drawdown | -5.32% | -5.32% | -18.94% | -21.52% | -21.52% |
| Sharpe | -1.80 | -0.41 | -1.12 | -0.60 | 0.03 |
| Sortino | -2.29 | -0.57 | -1.54 | -0.82 | 0.04 |
Price sensitivity to rates: the longer, the more the fund moves. What is duration →
Source: product page Xtrackers, data as of 15 October 2026. Values as declared by the issuer, not computed by us; updated with the monthly document.
| Fund | TER | Income | Fund size |
|---|---|---|---|
Xtrackers · 3 classes | 0.20% | Acc. · Dist. | 2.2 mld EUR |
According to the official lists published by the brokers (downloaded and cross-checked by us), these share classes of the fund appear tradable with zero fees:
LU0378818131XGSHOfficial lists verified on 15 October 2026. We record published terms — this is neither an invitation to open accounts nor a recommendation: lists change, the broker’s documents prevail. Trade Republic, Scalable Capital and Trading 212 publish no per-ISIN lists and don’t appear here.
| Exchange | Ticker | Exchange source | Registered since |
|---|---|---|---|
| Borsa Italiana (ETFplus) | XGSHfrom tax document | ESMA register (FIRDS) | 12 Feb 2009 |
| Börse Düsseldorf | DBZBfrom mapping | ESMA register (FIRDS) | 17 Feb 2012 |
| Börse Frankfurt | DBZBfrom mapping | ESMA register (FIRDS) | 23 May 2011 |
| Börse Hamburg | DBZBfrom mapping | ESMA register (FIRDS) | 28 May 2009 |
| Börse Hannover | DBZBfrom mapping | ESMA register (FIRDS) | 28 Dec 2022 |
| Börse München / gettex | DBZBfrom mapping | ESMA register (FIRDS) | 4 Jul 2014 |
| Börse Stuttgart | DBZBfrom mapping | ESMA register (FIRDS) | 22 Jan 2009 |
| London Stock Exchange | XGSEfrom tax document | issuer’s tax document (exchange outside the FIRDS perimeter) | — |
| Tradegate Exchange | DBZBfrom mapping | ESMA register (FIRDS) | 2 Mar 2012 |
| Xetra (Deutsche Börse) | DBZBfrom tax document | ESMA register (FIRDS) | 21 Jan 2009 |
| Exchange | Ticker | Exchange source | Registered since |
|---|---|---|---|
| Wiener Börse | not available | ESMA register (FIRDS) | 16 Apr 2018 |