EXCS.L vs. VAGF.DE
EXCS.L (iShares MSCI EM ex-China UCITS ETF USD (Acc)) and VAGF.DE (Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Acc) are both exchange-traded funds - EXCS.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD, while VAGF.DE is a Global Bonds fund tracking the Bloomberg Global Aggregate Float Adjusted and Scaled (EUR Hedged). Both are passively managed. Over the past 3 years, EXCS.L returned 24.20%/yr vs 2.42%/yr for VAGF.DE. At a 0.09 correlation, their price movements are largely independent. EXCS.L charges 0.18%/yr vs 0.10%/yr for VAGF.DE.
Performance
EXCS.L vs. VAGF.DE - Performance Comparison
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Different Trading Currencies
EXCS.L is traded in GBP, while VAGF.DE is traded in EUR. To make them comparable, the VAGF.DE values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, EXCS.L achieves a 37.28% return, which is significantly higher than VAGF.DE's -1.53% return.
EXCS.L
- 1D
- 3.36%
- 1M
- 3.36%
- YTD
- 37.28%
- 6M
- 41.12%
- 1Y
- 68.33%
- 3Y*
- 24.20%
- 5Y*
- —
- 10Y*
- —
VAGF.DE
- 1D
- 0.45%
- 1M
- -0.69%
- YTD
- -1.53%
- 6M
- -2.13%
- 1Y
- 2.69%
- 3Y*
- 2.42%
- 5Y*
- -1.64%
- 10Y*
- —
EXCS.L vs. VAGF.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EXCS.L iShares MSCI EM ex-China UCITS ETF USD (Acc) | 37.28% | 26.23% | 5.43% | 11.04% | -8.40% | -25.31% |
VAGF.DE Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Acc | -1.53% | 8.39% | -3.57% | 2.43% | -10.18% | -0.60% |
Correlation
The correlation between EXCS.L and VAGF.DE is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Nov 22, 2021 | 0.09 |
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Return for Risk
EXCS.L vs. VAGF.DE — Risk / Return Rank
EXCS.L
VAGF.DE
EXCS.L vs. VAGF.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EM ex-China UCITS ETF USD (Acc) (EXCS.L) and Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Acc (VAGF.DE). 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.
| EXCS.L | VAGF.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.97 | ||
| Sortino ratioReturn per unit of downside risk | +3.56 | ||
| Omega ratioGain probability vs. loss probability | 1.61 | 1.07 | +0.54 |
| Calmar ratioReturn relative to maximum drawdown | 5.65 | 0.61 | +5.04 |
| Martin ratioReturn relative to average drawdown | 19.69 | 1.32 | +18.37 |
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Drawdowns
EXCS.L vs. VAGF.DE - Drawdown Comparison
The maximum EXCS.L drawdown since its inception was -35.01%, which is greater than VAGF.DE's maximum drawdown of -23.83%. Use the drawdown chart below to compare losses from any high point for EXCS.L and VAGF.DE.
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Drawdown Indicators
| EXCS.L | VAGF.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.01% | -23.83% | -11.18% |
Max Drawdown (1Y)Largest decline over 1 year | -11.76% | -4.00% | -7.76% |
Max Drawdown (3Y)Largest decline over 3 years | -21.79% | -5.15% | -16.64% |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.11% | — |
Current DrawdownCurrent decline from peak | -3.42% | -15.95% | +12.53% |
Average DrawdownAverage peak-to-trough decline | -20.96% | -14.00% | -6.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.38% | 1.87% | +1.51% |
Volatility
EXCS.L vs. VAGF.DE - Volatility Comparison
iShares MSCI EM ex-China UCITS ETF USD (Acc) (EXCS.L) has a higher volatility of 9.15% compared to Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Acc (VAGF.DE) at 1.60%. This indicates that EXCS.L's price experiences larger fluctuations and is considered to be riskier than VAGF.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EXCS.L | VAGF.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.15% | 1.60% | +7.55% |
Volatility (6M)Calculated over the trailing 6-month period | 17.56% | 4.67% | +12.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.85% | 6.45% | +13.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.22% | 7.05% | +17.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.22% | 7.56% | +16.66% |
EXCS.L vs. VAGF.DE - Expense Ratio Comparison
EXCS.L has a 0.18% expense ratio, which is higher than VAGF.DE's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
EXCS.L vs. VAGF.DE - Dividend Comparison
Neither EXCS.L nor VAGF.DE has paid dividends to shareholders.
Frequently Asked Questions
EXCS.L and VAGF.DE have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VAGF.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VAGF.DE is cheaper with a 0.10% expense ratio, compared with 0.18% for EXCS.L.
EXCS.L is categorized as Emerging Markets Equities, while VAGF.DE is Global Bonds. EXCS.L tracks MSCI EM NR USD, while VAGF.DE tracks Bloomberg Global Aggregate Float Adjusted and Scaled (EUR Hedged). They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.18% for EXCS.L and 0.10% for VAGF.DE.
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