AEGG.L vs. SAAA.L

Last updated Jun 5, 2026

AEGG.L (iShares Global Aggregate Bond ESG UCITS ETF GBP Hedged (Acc)) and SAAA.L (iShares Global AAA-AA Government Bond UCITS ETF (Dist)) are both Global Bonds funds from iShares - AEGG.L tracks the Bloomberg Global Aggregate TR Hdg GBP while SAAA.L tracks the Bloomberg Global Aggregate TR USD. Both are passively managed. Over the past 3 years, AEGG.L returned 3.84%/yr vs 1.29%/yr for SAAA.L. A 0.64 correlation means they provide meaningful diversification when combined. AEGG.L charges 0.10%/yr vs 0.20%/yr for SAAA.L.

Performance

AEGG.L vs. SAAA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Global Aggregate Bond ESG UCITS ETF GBP Hedged (Acc) (AEGG.L) and iShares Global AAA-AA Government Bond UCITS ETF (Dist) (SAAA.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AEGG.L achieves a 0.49% return, which is significantly higher than SAAA.L's 0.29% return.

AEGG.L

• 1D: 0.12%
• 1M: -0.01%
• YTD: 0.49%
• 6M: 0.73%
• 1Y: 3.22%
• 3Y*: 3.84%
• 5Y*: —
• 10Y*: —

SAAA.L

• 1D: 0.19%
• 1M: 0.49%
• YTD: 0.29%
• 6M: 0.34%
• 1Y: 3.30%
• 3Y*: 1.29%
• 5Y*: -1.97%
• 10Y*: 0.39%

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

AEGG.L vs. SAAA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AEGG.L iShares Global Aggregate Bond ESG UCITS ETF GBP Hedged (Acc)	0.49%	4.36%	3.07%	5.65%	-12.74%	-0.69%
SAAA.L iShares Global AAA-AA Government Bond UCITS ETF (Dist)	0.29%	2.96%	-3.46%	2.32%	-11.40%	-2.67%

Correlation

The correlation between AEGG.L and SAAA.L is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (All Time) Calculated using the full available price history since Dec 8, 2021	0.64

The correlation between AEGG.L and SAAA.L shifts across timeframes, from 0.54 (1 year) to 0.65 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

AEGG.L vs. SAAA.L — Risk / Return Rank

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

AEGG.L

AEGG.L Risk / Return Rank: 28
AEGG.L Sharpe Ratio Rank: 29
AEGG.L Sortino Ratio Rank: 29
AEGG.L Omega Ratio Rank: 27
AEGG.L Calmar Ratio Rank: 28
AEGG.L Martin Ratio Rank: 28

SAAA.L

SAAA.L Risk / Return Rank: 19
SAAA.L Sharpe Ratio Rank: 21
SAAA.L Sortino Ratio Rank: 20
SAAA.L Omega Ratio Rank: 19
SAAA.L Calmar Ratio Rank: 19
SAAA.L Martin Ratio Rank: 18

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.

AEGG.L vs. SAAA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Aggregate Bond ESG UCITS ETF GBP Hedged (Acc) (AEGG.L) and iShares Global AAA-AA Government Bond UCITS ETF (Dist) (SAAA.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.

	AEGG.L	SAAA.L	Difference
Sharpe ratio: Return per unit of total volatility	1.01	0.67	+0.34
Sortino ratio: Return per unit of downside risk	1.54	1.02	+0.52
Omega ratio: Gain probability vs. loss probability	1.18	1.11	+0.07
Calmar ratio: Return relative to maximum drawdown	1.33	0.79	+0.54
Martin ratio: Return relative to average drawdown	3.82	1.74	+2.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AEGG.L vs. SAAA.L - Sharpe Ratio Comparison

The current AEGG.L Sharpe Ratio is 1.01, which is higher than the SAAA.L Sharpe Ratio of 0.67. The chart below compares the historical Sharpe Ratios of AEGG.L and SAAA.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

	AEGG.L	SAAA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.01	0.67	+0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.29	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.05	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.05	0.12	-0.17

Drawdowns

AEGG.L vs. SAAA.L - Drawdown Comparison

The maximum AEGG.L drawdown since its inception was -15.75%, smaller than the maximum SAAA.L drawdown of -24.70%. Use the drawdown chart below to compare losses from any high point for AEGG.L and SAAA.L.

Drawdown Indicators

	AEGG.L	SAAA.L	Difference
Max Drawdown Largest peak-to-trough decline	-15.75%	-24.70%	+8.95%
Max Drawdown (1Y) Largest decline over 1 year	-2.38%	-3.83%	+1.45%
Max Drawdown (3Y) Largest decline over 3 years	-3.72%	-5.68%	+1.96%
Max Drawdown (5Y) Largest decline over 5 years	—	-18.85%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-24.70%	—
Current Drawdown Current decline from peak	-1.36%	-18.59%	+17.23%
Average Drawdown Average peak-to-trough decline	-7.54%	-9.88%	+2.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.83%	1.75%	-0.92%

Volatility

AEGG.L vs. SAAA.L - Volatility Comparison

iShares Global Aggregate Bond ESG UCITS ETF GBP Hedged (Acc) (AEGG.L) and iShares Global AAA-AA Government Bond UCITS ETF (Dist) (SAAA.L) have volatilities of 1.42% and 1.36%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AEGG.L	SAAA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.42%	1.36%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	2.48%	3.45%	-0.97%
Volatility (1Y) Calculated over the trailing 1-year period	3.13%	4.50%	-1.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.59%	6.75%	-2.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.59%	7.86%	-3.27%

AEGG.L vs. SAAA.L - Expense Ratio Comparison

AEGG.L has a 0.10% expense ratio, which is lower than SAAA.L's 0.20% 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

AEGG.L vs. SAAA.L - Dividend Comparison

AEGG.L has not paid dividends to shareholders, while SAAA.L's dividend yield for the trailing twelve months is around 2.68%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AEGG.L iShares Global Aggregate Bond ESG UCITS ETF GBP Hedged (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SAAA.L iShares Global AAA-AA Government Bond UCITS ETF (Dist)	2.68%	2.48%	2.34%	1.57%	0.76%	0.48%	0.61%	0.89%	0.87%	0.81%	0.83%	1.06%

Frequently Asked Questions

Can I hold both AEGG.L and SAAA.L in my portfolio?

AEGG.L and SAAA.L have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AEGG.L or SAAA.L?

On fees, AEGG.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AEGG.L or SAAA.L?

AEGG.L is cheaper with a 0.10% expense ratio, compared with 0.20% for SAAA.L.

What is the main difference between AEGG.L and SAAA.L?

AEGG.L tracks Bloomberg Global Aggregate TR Hdg GBP, while SAAA.L tracks Bloomberg Global Aggregate TR USD. Their fees differ too: 0.10% for AEGG.L and 0.20% for SAAA.L.