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EGOG.L vs. IAAA.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EGOG.L vs. IAAA.L

Last updated Jun 5, 2026

EGOG.L (UBS ETF (LU) J.P. Morgan Global Government ESG Liquid Bond UCITS ETF (hedged to GBP) A-dis) and IAAA.L (iShares Global AAA-AA Government Bond UCITS) are both Global Bonds funds - EGOG.L tracks the Bloomberg Global Aggregate TR Hdg GBP while IAAA.L tracks the Bloomberg Global Aggregate TR USD. Both are passively managed. Over the past 5 years, EGOG.L returned -0.75%/yr vs -1.97%/yr for IAAA.L. At a 0.16 correlation, their price movements are largely independent. Both charge a 0.20% expense ratio.

Performance

EGOG.L vs. IAAA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in UBS ETF (LU) J.P. Morgan Global Government ESG Liquid Bond UCITS ETF (hedged to GBP) A-dis (EGOG.L) and iShares Global AAA-AA Government Bond UCITS (IAAA.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

EGOG.L is traded in GBp, while IAAA.L is traded in USD. To make them comparable, the IAAA.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, EGOG.L achieves a -0.03% return, which is significantly lower than IAAA.L's 0.50% return.

EGOG.L

1D
0.04%
1M
0.37%
YTD
-0.03%
6M
-0.16%
1Y
1.76%
3Y*
2.65%
5Y*
-0.75%
10Y*
—

IAAA.L

1D
0.19%
1M
0.94%
YTD
0.50%
6M
-0.28%
1Y
2.99%
3Y*
1.35%
5Y*
-1.97%
10Y*
0.38%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EGOG.L vs. IAAA.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
EGOG.L
UBS ETF (LU) J.P. Morgan Global Government ESG Liquid Bond UCITS ETF (hedged to GBP) A-dis		-0.03%3.06%2.00%3.46%-13.02%-1.80%-0.02%
IAAA.L
iShares Global AAA-AA Government Bond UCITS		0.50%3.40%-4.06%2.60%-11.38%-7.06%-1.12%

Correlation

The correlation between EGOG.L and IAAA.L is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.38

Correlation (3Y)
Calculated over the trailing 3-year period

0.24

Correlation (5Y)
Calculated over the trailing 5-year period

0.17

Correlation (All Time)
Calculated using the full available price history since Nov 6, 2020

0.16

Over the past year, EGOG.L and IAAA.L have become more correlated (0.38) than their long-term average of 0.16, meaning their price movements have been converging.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

UBS ETF (LU) J.P. Morgan Global Government ESG Liquid Bond UCITS ETF (hedged to GBP) A-dis

iShares Global AAA-AA Government Bond UCITS

Often compared with EGOG.L:
EGOG.L vs. XGSI.LEGOG.L vs. GLAU.LEGOG.L vs. GLAG.LEGOG.L vs. GLAB.LEGOG.L vs. GLAD.LEGOG.L vs. AGGU.LEGOG.L vs. FGOV.L
Often compared with IAAA.L:
IAAA.L vs. IGLO.LIAAA.L vs. LQDA.LIAAA.L vs. AGGU.LIAAA.L vs. LQDIAAA.L vs. AGGG.LIAAA.L vs. SPYIAAA.L vs. BSV

Return for Risk

EGOG.L vs. IAAA.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EGOG.L
EGOG.L Risk / Return Rank: 2121
Overall Rank
EGOG.L Sharpe Ratio Rank: 2222
Sharpe Ratio Rank
EGOG.L Sortino Ratio Rank: 2222
Sortino Ratio Rank
EGOG.L Omega Ratio Rank: 2020
Omega Ratio Rank
EGOG.L Calmar Ratio Rank: 2222
Calmar Ratio Rank
EGOG.L Martin Ratio Rank: 2020
Martin Ratio Rank
IAAA.L
IAAA.L Risk / Return Rank: 1616
Overall Rank
IAAA.L Sharpe Ratio Rank: 1515
Sharpe Ratio Rank
IAAA.L Sortino Ratio Rank: 1414
Sortino Ratio Rank
IAAA.L Omega Ratio Rank: 1313
Omega Ratio Rank
IAAA.L Calmar Ratio Rank: 1919
Calmar Ratio Rank
IAAA.L Martin Ratio Rank: 1818
Martin Ratio Rank
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.

EGOG.L vs. IAAA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) J.P. Morgan Global Government ESG Liquid Bond UCITS ETF (hedged to GBP) A-dis (EGOG.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.

EGOG.LIAAA.LDifference
Sharpe ratioReturn per unit of total volatility
0.73
0.70

+0.04

Sortino ratioReturn per unit of downside risk
1.10
1.04

+0.06

Omega ratioGain probability vs. loss probability

1.12

1.12

0.00

Calmar ratioReturn relative to maximum drawdown

0.96

1.57

-0.61

Martin ratioReturn relative to average drawdown

2.28

3.00

-0.72

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EGOG.L vs. IAAA.L - Sharpe Ratio Comparison

The current EGOG.L Sharpe Ratio is 0.73, which is comparable to the IAAA.L Sharpe Ratio of 0.70. The chart below compares the historical Sharpe Ratios of EGOG.L and IAAA.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.

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Sharpe Ratios by Period

EGOG.LIAAA.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.73

0.70

+0.04

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.26

-0.33

+0.07

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.05

—

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.48

0.15

-0.62

Drawdowns

EGOG.L vs. IAAA.L - Drawdown Comparison

The maximum EGOG.L drawdown since its inception was -16.69%, smaller than the maximum IAAA.L drawdown of -24.39%. Use the drawdown chart below to compare losses from any high point for EGOG.L and IAAA.L.

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Drawdown Indicators

EGOG.LIAAA.LDifference

Max Drawdown

Largest peak-to-trough decline

-16.69%

-24.39%

+7.70%

Max Drawdown (1Y)

Largest decline over 1 year

-3.05%

-3.01%

-0.04%

Max Drawdown (3Y)

Largest decline over 3 years

-3.48%

-5.84%

+2.36%

Max Drawdown (5Y)

Largest decline over 5 years

-15.73%

-18.89%

+3.16%

Max Drawdown (10Y)

Largest decline over 10 years

—

-24.39%

—

Current Drawdown

Current decline from peak

-7.30%

-18.15%

+10.85%

Average Drawdown

Average peak-to-trough decline

-8.24%

-9.49%

+1.25%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.22%

1.62%

-0.40%

Volatility

EGOG.L vs. IAAA.L - Volatility Comparison

The current volatility for UBS ETF (LU) J.P. Morgan Global Government ESG Liquid Bond UCITS ETF (hedged to GBP) A-dis (EGOG.L) is 1.57%, while iShares Global AAA-AA Government Bond UCITS (IAAA.L) has a volatility of 2.31%. This indicates that EGOG.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

EGOG.LIAAA.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.57%

2.31%

-0.74%

Volatility (6M)

Calculated over the trailing 6-month period

2.89%

4.89%

-2.00%

Volatility (1Y)

Calculated over the trailing 1-year period

4.00%

6.78%

-2.78%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

8.63%

9.35%

-0.72%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

8.62%

10.23%

-1.61%

EGOG.L vs. IAAA.L - Expense Ratio Comparison

Both EGOG.L and IAAA.L have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

EGOG.L vs. IAAA.L - Dividend Comparison

EGOG.L's dividend yield for the trailing twelve months is around 2.71%, which matches IAAA.L's 2.69% yield.

PositionTTM20252024202320222021202020192018201720162015
EGOG.L
UBS ETF (LU) J.P. Morgan Global Government ESG Liquid Bond UCITS ETF (hedged to GBP) A-dis		2.71%2.91%2.30%1.44%0.44%0.17%0.00%0.00%0.00%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

EGOG.L and IAAA.L have a correlation of 0.38, 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 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

EGOG.L and IAAA.L have the same expense ratio: 0.20% per year.

EGOG.L tracks Bloomberg Global Aggregate TR Hdg GBP, while IAAA.L tracks Bloomberg Global Aggregate TR USD. They also come from different issuers: UBS and iShares.

Portfolio Optimizer

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