DRGN.L vs. VDET.L
DRGN.L (L&G China CNY Bond UCITS ETF) and VDET.L (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) are both Emerging Markets Bonds funds. DRGN.L is actively managed, while VDET.L is passively managed. Over the past 5 years, DRGN.L returned 2.26%/yr vs 2.30%/yr for VDET.L. At a 0.34 correlation, their price movements are largely independent. DRGN.L charges 0.30%/yr vs 0.23%/yr for VDET.L.
Performance
DRGN.L vs. VDET.L - Performance Comparison
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Returns By Period
In the year-to-date period, DRGN.L achieves a 4.62% return, which is significantly higher than VDET.L's 1.31% return.
DRGN.L
- 1D
- -0.08%
- 1M
- 1.37%
- YTD
- 4.62%
- 6M
- 6.29%
- 1Y
- 8.23%
- 3Y*
- 4.99%
- 5Y*
- 2.26%
- 10Y*
- —
VDET.L
- 1D
- -0.02%
- 1M
- 0.71%
- YTD
- 1.31%
- 6M
- 1.85%
- 1Y
- 9.46%
- 3Y*
- 8.79%
- 5Y*
- 2.30%
- 10Y*
- —
DRGN.L vs. VDET.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
DRGN.L L&G China CNY Bond UCITS ETF | 4.62% | 5.43% | 3.15% | 0.46% | -5.32% | 7.15% | 0.87% |
VDET.L Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 1.31% | 11.70% | 6.40% | 9.41% | -15.27% | -1.76% | 1.70% |
Correlation
The correlation between DRGN.L and VDET.L is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2020 | 0.34 |
The correlation between DRGN.L and VDET.L shifts across timeframes, from 0.29 (3 years) to 0.41 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DRGN.L vs. VDET.L — Risk / Return Rank
DRGN.L
VDET.L
DRGN.L vs. VDET.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G China CNY Bond UCITS ETF (DRGN.L) and Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VDET.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.
| DRGN.L | VDET.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.38 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 5.58 | 2.65 | +2.93 |
| Martin ratioReturn relative to average drawdown | 22.51 | 10.75 | +11.76 |
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
| DRGN.L | VDET.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.45 | 2.00 | +0.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.49 | 0.32 | +0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 0.45 | +0.19 |
Drawdowns
DRGN.L vs. VDET.L - Drawdown Comparison
The maximum DRGN.L drawdown since its inception was -11.71%, smaller than the maximum VDET.L drawdown of -24.09%. Use the drawdown chart below to compare losses from any high point for DRGN.L and VDET.L.
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Drawdown Indicators
| DRGN.L | VDET.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.71% | -24.09% | +12.38% |
Max Drawdown (1Y)Largest decline over 1 year | -1.47% | -3.56% | +2.09% |
Max Drawdown (3Y)Largest decline over 3 years | -3.49% | -6.04% | +2.55% |
Max Drawdown (5Y)Largest decline over 5 years | -11.71% | -24.09% | +12.38% |
Current DrawdownCurrent decline from peak | -0.30% | -0.22% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -3.61% | -4.96% | +1.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.36% | 0.88% | -0.52% |
Volatility
DRGN.L vs. VDET.L - Volatility Comparison
The current volatility for L&G China CNY Bond UCITS ETF (DRGN.L) is 1.21%, while Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VDET.L) has a volatility of 1.79%. This indicates that DRGN.L experiences smaller price fluctuations and is considered to be less risky than VDET.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRGN.L | VDET.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.21% | 1.79% | -0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 3.00% | 3.72% | -0.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.36% | 4.72% | -1.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.58% | 7.17% | -2.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.53% | 7.70% | -3.17% |
DRGN.L vs. VDET.L - Expense Ratio Comparison
DRGN.L has a 0.30% expense ratio, which is higher than VDET.L's 0.23% expense ratio.
Dividends
DRGN.L vs. VDET.L - Dividend Comparison
DRGN.L's dividend yield for the trailing twelve months is around 1.63%, less than VDET.L's 5.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DRGN.L L&G China CNY Bond UCITS ETF | 1.63% | 1.94% | 2.31% | 2.45% | 2.76% | 1.44% | 0.00% | 0.00% | 0.00% | 0.00% |
VDET.L Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 5.91% | 6.03% | 5.84% | 5.44% | 5.01% | 3.89% | 4.19% | 4.32% | 4.61% | 4.59% |
Frequently Asked Questions
DRGN.L and VDET.L have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VDET.L is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VDET.L is cheaper with a 0.23% expense ratio, compared with 0.30% for DRGN.L.
They also come from different issuers: Legal & General and Vanguard. Their fees differ too: 0.30% for DRGN.L and 0.23% for VDET.L.
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