ACWI.L vs. VAGP.L
ACWI.L (SPDR MSCI ACWI UCITS ETF) and VAGP.L (Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing) are both exchange-traded funds - ACWI.L is a Global Equities fund tracking the MSCI ACWI Index, while VAGP.L is a Global Bonds fund tracking the Bloomberg Global Aggregate TR Hdg GBP. Both are passively managed. Over the past 5 years, ACWI.L returned -58.35%/yr vs -0.33%/yr for VAGP.L. At a 0.02 correlation, their price movements are largely independent. ACWI.L charges 0.40%/yr vs 0.10%/yr for VAGP.L.
Performance
ACWI.L vs. VAGP.L - Performance Comparison
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Returns By Period
In the year-to-date period, ACWI.L achieves a 10.58% return, which is significantly higher than VAGP.L's 0.30% return.
ACWI.L
- 1D
- 1.75%
- 1M
- 0.47%
- YTD
- 10.58%
- 6M
- 11.29%
- 1Y
- 28.32%
- 3Y*
- 17.45%
- 5Y*
- -58.35%
- 10Y*
- -30.84%
VAGP.L
- 1D
- 0.18%
- 1M
- 0.48%
- YTD
- 0.30%
- 6M
- 0.92%
- 1Y
- 3.26%
- 3Y*
- 3.87%
- 5Y*
- -0.33%
- 10Y*
- —
ACWI.L vs. VAGP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ACWI.L SPDR MSCI ACWI UCITS ETF | 10.58% | 14.32% | 19.66% | 15.59% | -8.59% | -99.12% | 15.70% | 11.65% |
VAGP.L Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing | 0.30% | 4.93% | 2.54% | 5.85% | -13.82% | -2.05% | 5.34% | 2.12% |
Correlation
The correlation between ACWI.L and VAGP.L is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2019 | 0.02 |
Over the past year, ACWI.L and VAGP.L have become more correlated (0.27) than their long-term average of 0.02, meaning their price movements have been converging.
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Return for Risk
ACWI.L vs. VAGP.L — Risk / Return Rank
ACWI.L
VAGP.L
ACWI.L vs. VAGP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI ACWI UCITS ETF (ACWI.L) and Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing (VAGP.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ACWI.L | VAGP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.65 | ||
| Sortino ratioReturn per unit of downside risk | +2.25 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.16 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 3.89 | 1.09 | +2.80 |
| Martin ratioReturn relative to average drawdown | 15.37 | 3.10 | +12.28 |
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Drawdowns
ACWI.L vs. VAGP.L - Drawdown Comparison
The maximum ACWI.L drawdown since its inception was -99.37%, which is greater than VAGP.L's maximum drawdown of -18.13%. Use the drawdown chart below to compare losses from any high point for ACWI.L and VAGP.L.
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Drawdown Indicators
| ACWI.L | VAGP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.37% | -18.13% | -81.24% |
Max Drawdown (1Y)Largest decline over 1 year | -7.05% | -2.77% | -4.28% |
Max Drawdown (3Y)Largest decline over 3 years | -20.07% | -4.01% | -16.06% |
Max Drawdown (5Y)Largest decline over 5 years | -99.37% | -17.71% | -81.66% |
Max Drawdown (10Y)Largest decline over 10 years | -99.37% | — | — |
Current DrawdownCurrent decline from peak | -98.82% | -3.65% | -95.17% |
Average DrawdownAverage peak-to-trough decline | -32.23% | -6.65% | -25.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.79% | 0.98% | +0.81% |
Volatility
ACWI.L vs. VAGP.L - Volatility Comparison
SPDR MSCI ACWI UCITS ETF (ACWI.L) has a higher volatility of 3.61% compared to Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing (VAGP.L) at 1.42%. This indicates that ACWI.L's price experiences larger fluctuations and is considered to be riskier than VAGP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ACWI.L | VAGP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.61% | 1.42% | +2.19% |
Volatility (6M)Calculated over the trailing 6-month period | 8.16% | 2.81% | +5.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.75% | 3.38% | +7.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.28% | 4.79% | +43.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.83% | 4.50% | +31.33% |
ACWI.L vs. VAGP.L - Expense Ratio Comparison
ACWI.L has a 0.40% expense ratio, which is higher than VAGP.L's 0.10% expense ratio.
Dividends
ACWI.L vs. VAGP.L - Dividend Comparison
ACWI.L has not paid dividends to shareholders, while VAGP.L's dividend yield for the trailing twelve months is around 3.55%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
ACWI.L SPDR MSCI ACWI UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VAGP.L Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing | 3.55% | 3.50% | 3.08% | 2.37% | 1.46% | 0.86% | 1.21% | 0.59% |
Frequently Asked Questions
ACWI.L and VAGP.L have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VAGP.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VAGP.L is cheaper with a 0.10% expense ratio, compared with 0.40% for ACWI.L.
ACWI.L is categorized as Global Equities, while VAGP.L is Global Bonds. ACWI.L tracks MSCI ACWI Index, while VAGP.L tracks Bloomberg Global Aggregate TR Hdg GBP. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.40% for ACWI.L and 0.10% for VAGP.L.
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