AGGG.L vs. CSH2.L
AGGG.L (iShares Core Global Aggregate Bond UCITS ETF USD (Dist)) and CSH2.L (Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc) are both exchange-traded funds - AGGG.L is a Global Bonds fund tracking the Bloomberg Global Aggregate Bond Index, while CSH2.L is a Money Market fund tracking the SONIA Compounded (GBP Hedged). Both are passively managed. Over the past 5 years, AGGG.L returned -2.10%/yr vs 3.29%/yr for CSH2.L. At a 0.37 correlation, their price movements are largely independent. Both charge a 0.10% expense ratio.
Performance
AGGG.L vs. CSH2.L - Performance Comparison
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Different Trading Currencies
AGGG.L is traded in USD, while CSH2.L is traded in GBp. To make them comparable, the CSH2.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, AGGG.L achieves a -2.44% return, which is significantly lower than CSH2.L's 2.18% return.
AGGG.L
- 1D
- 0.23%
- 1M
- -0.89%
- 6M
- -0.21%
- YTD
- -2.44%
- 1Y
- 0.02%
- 3Y*
- 2.03%
- 5Y*
- -2.10%
- 10Y*
- —
CSH2.L
- 1D
- -0.20%
- 1M
- 1.56%
- 6M
- 2.60%
- YTD
- 2.18%
- 1Y
- 4.59%
- 3Y*
- 6.08%
- 5Y*
- 3.29%
- 10Y*
- 2.38%
AGGG.L vs. CSH2.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AGGG.L iShares Core Global Aggregate Bond UCITS ETF USD (Dist) | -2.44% | 7.96% | -1.41% | 5.38% | -15.91% | -5.43% | 9.42% | 6.84% | -1.44% | 1.00% |
CSH2.L Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc | 2.18% | 12.57% | 3.85% | 10.24% | -9.32% | -0.78% | 3.37% | 4.86% | -5.00% | 2.12% |
Correlation
The correlation between AGGG.L and CSH2.L is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Nov 21, 2017 | 0.37 |
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Return for Risk
AGGG.L vs. CSH2.L — Risk / Return Rank
AGGG.L
CSH2.L
AGGG.L vs. CSH2.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Global Aggregate Bond UCITS ETF USD (Dist) (AGGG.L) and Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc (CSH2.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.
| AGGG.L | CSH2.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.69 | ||
| Sortino ratioReturn per unit of downside risk | -1.02 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.12 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.00 | 1.11 | -1.11 |
| Martin ratioReturn relative to average drawdown | 0.01 | 2.40 | -2.39 |
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Drawdowns
AGGG.L vs. CSH2.L - Drawdown Comparison
The maximum AGGG.L drawdown since its inception was -26.00%, smaller than the maximum CSH2.L drawdown of -29.83%. Use the drawdown chart below to compare losses from any high point for AGGG.L and CSH2.L.
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Drawdown Indicators
| AGGG.L | CSH2.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.00% | -29.83% | +3.83% |
Max Drawdown (1Y)Largest decline over 1 year | -3.56% | -4.11% | +0.55% |
Max Drawdown (3Y)Largest decline over 3 years | -7.32% | -7.81% | +0.49% |
Max Drawdown (5Y)Largest decline over 5 years | -24.36% | -22.77% | -1.59% |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.10% | — |
Current DrawdownCurrent decline from peak | -12.97% | -0.96% | -12.01% |
Average DrawdownAverage peak-to-trough decline | -9.57% | -12.59% | +3.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.60% | 1.91% | -0.31% |
Volatility
AGGG.L vs. CSH2.L - Volatility Comparison
The current volatility for iShares Core Global Aggregate Bond UCITS ETF USD (Dist) (AGGG.L) is 1.24%, while Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc (CSH2.L) has a volatility of 1.71%. This indicates that AGGG.L experiences smaller price fluctuations and is considered to be less risky than CSH2.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AGGG.L | CSH2.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 1.71% | -0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 4.25% | 5.08% | -0.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.52% | 6.64% | -1.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.02% | 8.55% | -1.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.43% | 8.82% | -2.39% |
AGGG.L vs. CSH2.L - Expense Ratio Comparison
Both AGGG.L and CSH2.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
AGGG.L vs. CSH2.L - Dividend Comparison
AGGG.L's dividend yield for the trailing twelve months is around 1.64%, while CSH2.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
AGGG.L iShares Core Global Aggregate Bond UCITS ETF USD (Dist) | 1.64% | 2.97% | 2.74% | 2.01% | 1.55% | 1.33% | 1.46% | 1.62% | 0.96% |
CSH2.L Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AGGG.L and CSH2.L have a correlation of 0.46, 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.
AGGG.L and CSH2.L have the same expense ratio: 0.10% per year.
AGGG.L is categorized as Global Bonds, while CSH2.L is Money Market. AGGG.L tracks Bloomberg Global Aggregate Bond Index, while CSH2.L tracks SONIA Compounded (GBP Hedged). They also come from different issuers: iShares and Amundi.
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