# Xtrackers II Global Government Bond UCITS ETF (XGSG)

**Page:** https://fundology.uk/fund/xgsg · ISIN LU0641006290

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 13/11/2026, XGSG (Xtrackers II Global Government Bond UCITS ETF, ISIN LU0641006290) closed at £23.26 on the London Stock Exchange. Its ongoing charge is 0.25% a year (about £25 on £10,000). Over the five years to 13/11/2026 its total return was −6.5%, or −27.0% after UK CPIH inflation.

## Summary

Xtrackers II Global Government Bond UCITS ETF is an exchange-traded fund (ETF) from Xtrackers, launched in 2011. It tracks the FTSE WGBI - Developed Markets (EUR). You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.25% a year — about £25 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is paid out to holders as cash, usually a few times a year. It is currency-hedged: it aims to remove most of the effect of exchange-rate moves against the pound.

Latest close: **£23.26** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | XGSG |
| ISIN | LU0641006290 |
| Category | Government bonds |
| Type | ETF |
| Provider | Xtrackers |
| Tracks | FTSE WGBI - Developed Markets (EUR) |
| Income | Distributing |
| Ongoing charge | 0.25% a year (£25 per £10,000) |
| Fund size | £337m |
| Launched | 2011 |
| Domicile | Luxembourg |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 01/01/2012 |

## Past returns (periods to 13/11/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | -0.80% | -4.31% | income reinvested |
| 3 years | +9.43% | -1.13% | income reinvested |
| 5 years | -6.48% | -27.00% | income reinvested |

Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of Xtrackers II Global Government Bond UCITS ETF in pounds (price only, income paid out not included): 2022 −16.1%, 2023 +3.1%, 2024 −1.7%, 2025 +0.7%; 2026 to 13/11/2026 −2.9%. Returns of Xtrackers II Global Government Bond UCITS ETF in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: −4.9%; to 30/09/2025: −1.1%; to 30/09/2024: +6.0%; to 30/09/2023: −3.3%; to 30/09/2022: −15.2%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -16.1% | -23.2% | Price |
| 2023 | +3.1% | -1.0% | Price |
| 2024 | -1.7% | -5.1% | Price |
| 2025 | +0.7% | -2.8% | Price |
| 2026 to 13/11/2026 | -2.9% | -6.0% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 4.41% | -5.38% |
| 3 years | 4.46% | -6.05% |
| 5 years | 5.28% | -19.62% |

## Largest fall

Volatility of Xtrackers II Global Government Bond UCITS ETF in pounds, annualised from weekly returns to 13/11/2026: 4.4% over 1 year, 4.5% over 3 years, 5.3% over 5 years. Largest fall in the price of Xtrackers II Global Government Bond UCITS ETF since November 2021, in pounds: −19.6% from 03/12/2021 to 20/10/2023. The lowest 12-month return of Xtrackers II Global Government Bond UCITS ETF in pounds (price only, income paid out not included) since January 2021 was −16.8% (12 months to 04/11/2022); the highest was +6.4% (12 months to 18/10/2024). On 13/11/2026 the price of Xtrackers II Global Government Bond UCITS ETF was 18.0% below its highest weekly close since November 2021 (03/12/2021), in pounds.

## Charges compared with similar funds

Ongoing charge of Xtrackers II Global Government Bond UCITS ETF 0.25% a year. Compared on 14/11/2026, 30 of the 311 other government bond funds charge more, 16 the same and 265 less (share classes counted once).

## Funds tracking the same index

7 funds track FTSE WGBI - Developed Markets (EUR), this one included and share classes counted once; their ongoing charges range from 0.20% to 0.25% a year (13/11/2026).

| Fund | Ongoing charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| Xtrackers II Global Government Bond UCITS ETF (this fund) | 0.25% | -0.8% | +9.4% | -6.5% |
| Xtrackers II Global Government Bond UCITS ETF 5C Capitalisation | 0.20% | -4.0% | -0.5% | -14.6% |
| Xtrackers II Global Government Bond UCITS ETF Acc | 0.25% | -9.9% | -3.5% | -12.8% |
| Xtrackers II Global Government Bond UCITS ETF Dist | 0.25% | -7.7% | -0.4% | -15.4% |
| Xtrackers II Global Government Bond UCITS ETF EUR Hedged Acc | 0.25% | -7.7% | -0.4% | -15.5% |
| Xtrackers II Global Government Bond UCITS ETF USD Hedged Acc | 0.25% | -1.2% | +1.8% | -3.4% |
| Xtrackers II SICAV - Xtrackers II Global Government Bond UCITS ETF -4D- Distribution | 0.20% | — | — | — |

Returns are as reported, in pounds, income reinvested unless marked "(price)".

## Charges & eligibility

- Ongoing charges figure (OCF): **0.25%** per year
- Stocks and shares ISA eligible: usually (check with your platform)
- SIPP eligible: usually (check with your provider)
- ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify.

## What it holds

As of 15/11/2026, XGSG holds 1,300 positions, according to its published holdings. The largest is Treasury Note (US91282CNT44) at 0.39% of the fund; the ten largest make up 3.8%.

### Top holdings

Largest positions (as of 15/11/2026), as a percentage of the whole fund:

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | Treasury Note (US91282CNT44) | — | 0.39% |
| 2 | Treasury Note (US91282CRF04) | — | 0.39% |
| 3 | Treasury Note (US91282CJZ59) | — | 0.38% |
| 4 | Treasury Note (US91282CLW90) | — | 0.38% |
| 5 | Treasury Note (US91282CMM00) | — | 0.38% |
| 6 | Treasury Note (US91282CQQ77) | — | 0.38% |
| 7 | Treasury Note (US91282CJJ18) | — | 0.37% |
| 8 | Treasury Note (US91282CKQ32) | — | 0.37% |
| 9 | Treasury Note (US91282CPZ85) | — | 0.37% |
| 10 | Treasury Note (US91282CGH88) | — | 0.36% |

## Where it invests

Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed.

### By country

Added up from the fund’s published holdings, as of 15/11/2026.

| Country | Weight |
|---|---|
| United States | 47.3% |
| Japan | 10.1% |
| France | 6.8% |
| Italy | 6.4% |
| United Kingdom | 6.2% |
| Germany | 5.7% |
| Spain | 4.2% |
| South Korea | 2.5% |
| Other countries | 10.8% |
| Not classified | 0.1% |

### By type of asset

Added up from the fund’s published holdings, as of 15/11/2026.

| Type of asset | Weight |
|---|---|
| Bonds | 99.9% |
| Cash and money market | 0.1% |

The 1,294 holdings on record (of 1,300 reported): https://fundology.uk/fund/xgsg/holdings

## Questions people ask

**What is the ongoing charge of XGSG?**

The ongoing charge of XGSG is 0.25% a year — about £25 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of Xtrackers II Global Government Bond UCITS ETF 0.25% a year. Compared on 14/11/2026, 30 of the 311 other government bond funds charge more, 16 the same and 265 less (share classes counted once).

**What does XGSG track?**

XGSG tracks the FTSE WGBI - Developed Markets (EUR).

**Is XGSG accumulating or distributing?**

XGSG is distributing: income is paid out to holders as cash, usually a few times a year. It pays out quarterly.

**What is the ISIN of XGSG?**

The ISIN of XGSG is LU0641006290. An ISIN identifies one exact share class of a fund; XGSG is its ticker on the London Stock Exchange.

**What does XGSG hold?**

As of 15/11/2026, XGSG holds 1,300 positions, according to its published holdings. The largest is Treasury Note (US91282CNT44) at 0.39% of the fund; the ten largest make up 3.8%. Its ten largest holdings are Treasury Note (US91282CNT44) (0.39%), Treasury Note (US91282CRF04) (0.39%), Treasury Note (US91282CJZ59) (0.38%), Treasury Note (US91282CLW90) (0.38%), Treasury Note (US91282CMM00) (0.38%), Treasury Note (US91282CQQ77) (0.38%), Treasury Note (US91282CJJ18) (0.37%), Treasury Note (US91282CKQ32) (0.37%), Treasury Note (US91282CPZ85) (0.37%) and Treasury Note (US91282CGH88) (0.36%).

**What were XGSG’s returns in each of the last five years?**

Calendar-year returns of XGSG in pounds (price only, income paid out not included): 2022 −16.1%, 2023 +3.1%, 2024 −1.7%, 2025 +0.7%; 2026 to 13/11/2026 −2.9%. Past performance is not a guide to future returns.

**How has XGSG done after inflation?**

Over the five years to 13/11/2026 XGSG’s total return was −6.5%, or −27.0% after UK CPIH inflation. Past performance is not a guide to future returns.

## Fund documents

- [Fund page at Xtrackers (DWS)](https://etf.dws.com/en-gb/LU0641006290-global-government-bond-ucits-etf-2d-gbp-hedged/)
- Links checked 12/10/2026.

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.