AGBP.L vs. GLBL.L
AGBP.L (iShares Core Global Aggregate Bond UCITS ETF GBP Hedged (Dist)) and GLBL.L (SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged) are both Global Bonds funds - AGBP.L tracks the Bloomberg Global Aggregate TR Hdg GBP while GLBL.L tracks the Bloomberg Global Aggregate TR USD. Both are passively managed. Over the past 5 years, AGBP.L returned 0.24%/yr vs -0.62%/yr for GLBL.L. At a 0.37 correlation, their price movements are largely independent. Both charge a 0.10% expense ratio.
Performance
AGBP.L vs. GLBL.L - Performance Comparison
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Returns By Period
In the year-to-date period, AGBP.L achieves a 1.19% return, which is significantly lower than GLBL.L's 1.54% return.
AGBP.L
- 1D
- 0.21%
- 1M
- 1.08%
- YTD
- 1.19%
- 6M
- 1.41%
- 1Y
- 3.61%
- 3Y*
- 4.05%
- 5Y*
- 0.24%
- 10Y*
- —
GLBL.L
- 1D
- -0.15%
- 1M
- 1.51%
- YTD
- 1.54%
- 6M
- 2.02%
- 1Y
- 4.56%
- 3Y*
- 1.86%
- 5Y*
- -0.62%
- 10Y*
- —
AGBP.L vs. GLBL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
AGBP.L iShares Core Global Aggregate Bond UCITS ETF GBP Hedged (Dist) | 1.19% | 4.46% | 3.11% | 5.71% | -12.34% | -1.79% | 4.12% | 6.44% | 0.61% |
GLBL.L SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged | 1.54% | 0.65% | 0.03% | -0.43% | -5.99% | -3.96% | 5.31% | 3.31% | -23.54% |
Correlation
The correlation between AGBP.L and GLBL.L is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Jan 26, 2018 | 0.37 |
The correlation between AGBP.L and GLBL.L shifts across timeframes, from 0.23 (1 year) to 0.43 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
AGBP.L vs. GLBL.L — Risk / Return Rank
AGBP.L
GLBL.L
AGBP.L vs. GLBL.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Global Aggregate Bond UCITS ETF GBP Hedged (Dist) (AGBP.L) and SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged (GLBL.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.
| AGBP.L | GLBL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.18 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.41 | 1.21 | +0.20 |
| Martin ratioReturn relative to average drawdown | 4.09 | 2.47 | +1.62 |
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Drawdowns
AGBP.L vs. GLBL.L - Drawdown Comparison
The maximum AGBP.L drawdown since its inception was -16.39%, smaller than the maximum GLBL.L drawdown of -30.13%. Use the drawdown chart below to compare losses from any high point for AGBP.L and GLBL.L.
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Drawdown Indicators
| AGBP.L | GLBL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.39% | -30.13% | +13.74% |
Max Drawdown (1Y)Largest decline over 1 year | -2.56% | -3.76% | +1.20% |
Max Drawdown (3Y)Largest decline over 3 years | -3.59% | -4.91% | +1.32% |
Max Drawdown (5Y)Largest decline over 5 years | -16.01% | -14.10% | -1.91% |
Current DrawdownCurrent decline from peak | -0.99% | -23.54% | +22.55% |
Average DrawdownAverage peak-to-trough decline | -4.76% | -23.08% | +18.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 1.84% | -0.96% |
Volatility
AGBP.L vs. GLBL.L - Volatility Comparison
The current volatility for iShares Core Global Aggregate Bond UCITS ETF GBP Hedged (Dist) (AGBP.L) is 0.97%, while SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged (GLBL.L) has a volatility of 1.32%. This indicates that AGBP.L experiences smaller price fluctuations and is considered to be less risky than GLBL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AGBP.L | GLBL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.97% | 1.32% | -0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 2.93% | 3.37% | -0.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.74% | 4.56% | -0.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.86% | 6.63% | -1.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.32% | 12.30% | -7.98% |
AGBP.L vs. GLBL.L - Expense Ratio Comparison
Both AGBP.L and GLBL.L have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
AGBP.L vs. GLBL.L - Dividend Comparison
AGBP.L's dividend yield for the trailing twelve months is around 3.10%, which matches GLBL.L's 3.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
AGBP.L iShares Core Global Aggregate Bond UCITS ETF GBP Hedged (Dist) | 3.10% | 3.00% | 2.59% | 1.96% | 1.56% | 1.27% | 1.53% | 1.65% | 0.98% |
GLBL.L SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged | 3.10% | 3.14% | 2.76% | 2.05% | 1.39% | 1.22% | 1.54% | 1.67% | 1.06% |
Frequently Asked Questions
AGBP.L and GLBL.L have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.10% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
AGBP.L and GLBL.L have the same expense ratio: 0.10% per year.
AGBP.L tracks Bloomberg Global Aggregate TR Hdg GBP, while GLBL.L tracks Bloomberg Global Aggregate TR USD. They also come from different issuers: iShares and State Street.
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