AGGG.L vs. IAAA.L
AGGG.L (iShares Global Aggregate Bond UCITS Dist) and IAAA.L (iShares Global AAA-AA Government Bond UCITS) are both Global Bonds funds from iShares tracking the Bloomberg Global Aggregate TR USD. Both are passively managed. Over the past 5 years, AGGG.L returned -1.74%/yr vs -3.01%/yr for IAAA.L. A 0.60 correlation means they provide meaningful diversification when combined. AGGG.L charges 0.10%/yr vs 0.20%/yr for IAAA.L.
Performance
AGGG.L vs. IAAA.L - Performance Comparison
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Returns By Period
In the year-to-date period, AGGG.L achieves a -0.28% return, which is significantly lower than IAAA.L's 0.13% 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*
- —
IAAA.L
- 1D
- 0.19%
- 1M
- 0.02%
- YTD
- 0.13%
- 6M
- 1.27%
- 1Y
- 2.00%
- 3Y*
- 3.96%
- 5Y*
- -3.01%
- 10Y*
- -0.36%
AGGG.L vs. IAAA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AGGG.L iShares Global Aggregate Bond UCITS Dist | -0.28% | 8.06% | -1.44% | 5.27% | -15.93% | -5.32% | 9.37% | 6.85% | -1.17% | 0.03% |
IAAA.L iShares Global AAA-AA Government Bond UCITS | 0.13% | 10.70% | -5.21% | 8.69% | -21.12% | -8.15% | 12.09% | 4.75% | -2.34% | -0.31% |
Correlation
The correlation between AGGG.L and IAAA.L is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Nov 27, 2017 | 0.60 |
The correlation between AGGG.L and IAAA.L has been stable across timeframes, ranging from 0.58 to 0.61 - a consistent structural relationship.
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Return for Risk
AGGG.L vs. IAAA.L — Risk / Return Rank
AGGG.L
IAAA.L
AGGG.L vs. IAAA.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 iShares Global AAA-AA Government Bond UCITS (IAAA.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 | IAAA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.07 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.63 | 0.77 | -0.14 |
| Martin ratioReturn relative to average drawdown | 1.66 | 1.90 | -0.24 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AGGG.L | IAAA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.43 | 0.36 | +0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.26 | -0.42 | +0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.06 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.05 | -0.07 | +0.12 |
Drawdowns
AGGG.L vs. IAAA.L - Drawdown Comparison
The maximum AGGG.L drawdown since its inception was -25.91%, smaller than the maximum IAAA.L drawdown of -32.79%. Use the drawdown chart below to compare losses from any high point for AGGG.L and IAAA.L.
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Drawdown Indicators
| AGGG.L | IAAA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.91% | -32.79% | +6.88% |
Max Drawdown (1Y)Largest decline over 1 year | -3.48% | -4.11% | +0.63% |
Max Drawdown (3Y)Largest decline over 3 years | -7.20% | -10.21% | +3.01% |
Max Drawdown (5Y)Largest decline over 5 years | -24.24% | -30.57% | +6.33% |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.79% | — |
Current DrawdownCurrent decline from peak | -11.01% | -17.30% | +6.29% |
Average DrawdownAverage peak-to-trough decline | -9.53% | -10.59% | +1.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.32% | 1.98% | -0.66% |
Volatility
AGGG.L vs. IAAA.L - Volatility Comparison
The current volatility for iShares Global Aggregate Bond UCITS Dist (AGGG.L) is 1.74%, while iShares Global AAA-AA Government Bond UCITS (IAAA.L) has a volatility of 2.59%. This indicates that AGGG.L experiences smaller price fluctuations and is considered to be less risky than IAAA.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 | IAAA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.74% | 2.59% | -0.85% |
Volatility (6M)Calculated over the trailing 6-month period | 3.91% | 5.78% | -1.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.10% | 8.83% | -3.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.81% | 11.26% | -4.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.32% | 9.36% | -3.04% |
AGGG.L vs. IAAA.L - Expense Ratio Comparison
AGGG.L has a 0.10% expense ratio, which is lower than IAAA.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
AGGG.L vs. IAAA.L - Dividend Comparison
AGGG.L's dividend yield for the trailing twelve months is around 3.16%, more than IAAA.L's 2.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% |
IAAA.L iShares Global AAA-AA Government Bond UCITS | 2.69% | 2.46% | 2.37% | 1.52% | 0.76% | 0.49% | 0.56% | 0.88% | 0.94% | 0.77% | 0.89% | 1.08% |
Frequently Asked Questions
AGGG.L and IAAA.L have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AGGG.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AGGG.L is cheaper with a 0.10% expense ratio, compared with 0.20% for IAAA.L.
Both ETFs track Bloomberg Global Aggregate TR USD. Their fees differ too: 0.10% for AGGG.L and 0.20% for IAAA.L.
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