AGGG.L vs. GLAB.L

Last updated Jun 5, 2026

AGGG.L (iShares Global Aggregate Bond UCITS Dist) and GLAB.L (SPDR Bloomberg Global Aggregate Bond UCITS ETF GBP Hedged) are both Global Bonds funds - AGGG.L tracks the Bloomberg Global Aggregate TR USD while GLAB.L tracks the Bloomberg Global Aggregate TR Hdg GBP. Both are passively managed. Over the past 5 years, AGGG.L returned -1.74%/yr vs -0.83%/yr for GLAB.L. A 0.61 correlation means they provide meaningful diversification when combined. Both charge a 0.10% expense ratio.

Performance

AGGG.L vs. GLAB.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Aggregate Bond UCITS Dist (AGGG.L) and SPDR Bloomberg Global Aggregate Bond UCITS ETF GBP Hedged (GLAB.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

AGGG.L is traded in USD, while GLAB.L is traded in GBP. To make them comparable, the GLAB.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 -0.28% return, which is significantly lower than GLAB.L's 0.27% return.

AGGG.L

• 1D: 0.08%
• 1M: -0.73%
• YTD: -0.28%
• 6M: 0.59%
• 1Y: 2.33%
• 3Y*: 3.42%
• 5Y*: -1.74%
• 10Y*: —

GLAB.L

• 1D: 0.23%
• 1M: -0.34%
• YTD: 0.27%
• 6M: 1.46%
• 1Y: 2.27%
• 3Y*: 6.60%
• 5Y*: -0.83%
• 10Y*: —

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

AGGG.L vs. GLAB.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
AGGG.L iShares Global Aggregate Bond UCITS Dist	-0.28%	8.06%	-1.44%	5.27%	-15.93%	-5.32%	9.37%	6.85%	-2.45%
GLAB.L SPDR Bloomberg Global Aggregate Bond UCITS ETF GBP Hedged	0.27%	12.58%	1.36%	11.31%	-21.47%	-2.63%	7.68%	10.69%	-8.31%

Correlation

The correlation between AGGG.L and GLAB.L is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (All Time) Calculated using the full available price history since Feb 19, 2018	0.61

The correlation between AGGG.L and GLAB.L shifts across timeframes, from 0.61 (all time) to 0.74 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

AGGG.L vs. GLAB.L — Risk / Return Rank

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

AGGG.L

AGGG.L Risk / Return Rank: 16
AGGG.L Sharpe Ratio Rank: 16
AGGG.L Sortino Ratio Rank: 15
AGGG.L Omega Ratio Rank: 15
AGGG.L Calmar Ratio Rank: 17
AGGG.L Martin Ratio Rank: 17

GLAB.L

GLAB.L Risk / Return Rank: 29
GLAB.L Sharpe Ratio Rank: 30
GLAB.L Sortino Ratio Rank: 30
GLAB.L Omega Ratio Rank: 28
GLAB.L Calmar Ratio Rank: 29
GLAB.L Martin Ratio Rank: 29

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.

AGGG.L vs. GLAB.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Aggregate Bond UCITS Dist (AGGG.L) and SPDR Bloomberg Global Aggregate Bond UCITS ETF GBP Hedged (GLAB.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.

	AGGG.L	GLAB.L	Difference
Sharpe ratio: Return per unit of total volatility	0.43	0.28	+0.15
Sortino ratio: Return per unit of downside risk	0.68	0.46	+0.23
Omega ratio: Gain probability vs. loss probability	1.08	1.05	+0.03
Calmar ratio: Return relative to maximum drawdown	0.63	0.42	+0.21
Martin ratio: Return relative to average drawdown	1.66	1.00	+0.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AGGG.L vs. GLAB.L - Sharpe Ratio Comparison

The current AGGG.L Sharpe Ratio is 0.43, which is higher than the GLAB.L Sharpe Ratio of 0.28. The chart below compares the historical Sharpe Ratios of AGGG.L and GLAB.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

	AGGG.L	GLAB.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.43	0.28	+0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.26	-0.08	-0.18
Sharpe Ratio (All Time) Calculated using the full available price history	0.05	0.07	-0.02

Drawdowns

AGGG.L vs. GLAB.L - Drawdown Comparison

The maximum AGGG.L drawdown since its inception was -25.91%, smaller than the maximum GLAB.L drawdown of -34.44%. Use the drawdown chart below to compare losses from any high point for AGGG.L and GLAB.L.

Drawdown Indicators

	AGGG.L	GLAB.L	Difference
Max Drawdown Largest peak-to-trough decline	-25.91%	-34.44%	+8.53%
Max Drawdown (1Y) Largest decline over 1 year	-3.48%	-5.40%	+1.92%
Max Drawdown (3Y) Largest decline over 3 years	-7.20%	-11.09%	+3.89%
Max Drawdown (5Y) Largest decline over 5 years	-24.24%	-34.44%	+10.20%
Current Drawdown Current decline from peak	-11.01%	-4.52%	-6.49%
Average Drawdown Average peak-to-trough decline	-9.53%	-10.34%	+0.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.32%	2.27%	-0.95%

Volatility

AGGG.L vs. GLAB.L - Volatility Comparison

The current volatility for iShares Global Aggregate Bond UCITS Dist (AGGG.L) is 1.74%, while SPDR Bloomberg Global Aggregate Bond UCITS ETF GBP Hedged (GLAB.L) has a volatility of 2.73%. This indicates that AGGG.L experiences smaller price fluctuations and is considered to be less risky than GLAB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AGGG.L	GLAB.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.74%	2.73%	-0.99%
Volatility (6M) Calculated over the trailing 6-month period	3.91%	6.02%	-2.11%
Volatility (1Y) Calculated over the trailing 1-year period	5.10%	8.13%	-3.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.81%	10.57%	-3.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.32%	10.23%	-3.91%

AGGG.L vs. GLAB.L - Expense Ratio Comparison

Both AGGG.L and GLAB.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. GLAB.L - Dividend Comparison

AGGG.L's dividend yield for the trailing twelve months is around 3.16%, more than GLAB.L's 3.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
AGGG.L iShares Global Aggregate Bond UCITS Dist	3.16%	2.97%	2.74%	2.01%	1.55%	1.33%	1.46%	1.62%	0.96%
GLAB.L SPDR Bloomberg Global Aggregate Bond UCITS ETF GBP Hedged	3.10%	3.06%	2.70%	1.91%	1.48%	1.18%	1.51%	1.70%	0.88%

Frequently Asked Questions

Can I hold both AGGG.L and GLAB.L in my portfolio?

AGGG.L and GLAB.L have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AGGG.L or GLAB.L?

Both ETFs have the same 0.10% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AGGG.L or GLAB.L?

AGGG.L and GLAB.L have the same expense ratio: 0.10% per year.

What is the main difference between AGGG.L and GLAB.L?

AGGG.L tracks Bloomberg Global Aggregate TR USD, while GLAB.L tracks Bloomberg Global Aggregate TR Hdg GBP. They also come from different issuers: iShares and State Street.