FGOV.L vs. SGSU.L
FGOV.L (First Trust Low Duration Global Government Bond UCITS ETF GBP Hedged dist) and SGSU.L (iShares $ Corp Bond 0-3yr ESG SRI UCITS ETF GBP Hedged (Dist)) are both Global Bonds funds - FGOV.L tracks the Bloomberg Global Aggregate TR Hdg GBP while SGSU.L tracks the iShares $ Corp Bond 0-3yr ESG SRI UCITS ETF GBP Hedged (Dist). Both are passively managed. Over the past 5 years, FGOV.L returned 1.03%/yr vs 2.57%/yr for SGSU.L. At a 0.23 correlation, their price movements are largely independent. FGOV.L charges 0.45%/yr vs 0.17%/yr for SGSU.L.
Performance
FGOV.L vs. SGSU.L - Performance Comparison
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Different Trading Currencies
FGOV.L is traded in GBp, while SGSU.L is traded in GBP. To make them comparable, the SGSU.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with FGOV.L having a 1.63% return and SGSU.L slightly higher at 1.67%.
FGOV.L
- 1D
- -0.10%
- 1M
- 0.04%
- 6M
- 1.26%
- YTD
- 1.63%
- 1Y
- 3.76%
- 3Y*
- 4.66%
- 5Y*
- 1.03%
- 10Y*
- —
SGSU.L
- 1D
- 0.20%
- 1M
- 0.41%
- 6M
- 1.46%
- YTD
- 1.67%
- 1Y
- 3.86%
- 3Y*
- 4.96%
- 5Y*
- 2.57%
- 10Y*
- —
FGOV.L vs. SGSU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FGOV.L First Trust Low Duration Global Government Bond UCITS ETF GBP Hedged dist | 1.63% | 5.31% | 3.51% | 6.01% | -7.49% | -6.11% | 1.12% |
SGSU.L iShares $ Corp Bond 0-3yr ESG SRI UCITS ETF GBP Hedged (Dist) | 1.67% | 5.12% | 5.16% | 4.29% | -2.66% | -0.43% | 0.17% |
Correlation
The correlation between FGOV.L and SGSU.L is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2020 | 0.23 |
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Return for Risk
FGOV.L vs. SGSU.L — Risk / Return Rank
FGOV.L
SGSU.L
FGOV.L vs. SGSU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Low Duration Global Government Bond UCITS ETF GBP Hedged dist (FGOV.L) and iShares $ Corp Bond 0-3yr ESG SRI UCITS ETF GBP Hedged (Dist) (SGSU.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.
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.
| FGOV.L | SGSU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.71 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 2.15 | 9.24 | -7.10 |
| Martin ratioReturn relative to average drawdown | 7.38 | 28.95 | -21.57 |
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Drawdowns
FGOV.L vs. SGSU.L - Drawdown Comparison
The maximum FGOV.L drawdown since its inception was -14.18%, which is greater than SGSU.L's maximum drawdown of -8.45%. Use the drawdown chart below to compare losses from any high point for FGOV.L and SGSU.L.
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Drawdown Indicators
| FGOV.L | SGSU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.18% | -8.45% | -5.73% |
Max Drawdown (1Y)Largest decline over 1 year | -1.74% | -0.42% | -1.32% |
Max Drawdown (3Y)Largest decline over 3 years | -1.74% | -0.62% | -1.12% |
Max Drawdown (5Y)Largest decline over 5 years | -11.88% | -4.83% | -7.05% |
Current DrawdownCurrent decline from peak | -0.21% | -0.01% | -0.20% |
Average DrawdownAverage peak-to-trough decline | -5.91% | -0.84% | -5.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.51% | 0.13% | +0.38% |
Volatility
FGOV.L vs. SGSU.L - Volatility Comparison
First Trust Low Duration Global Government Bond UCITS ETF GBP Hedged dist (FGOV.L) has a higher volatility of 0.53% compared to iShares $ Corp Bond 0-3yr ESG SRI UCITS ETF GBP Hedged (Dist) (SGSU.L) at 0.48%. This indicates that FGOV.L's price experiences larger fluctuations and is considered to be riskier than SGSU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FGOV.L | SGSU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.53% | 0.48% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 1.67% | 1.20% | +0.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.85% | 1.72% | +0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.30% | 2.14% | +1.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.16% | 3.02% | +0.14% |
FGOV.L vs. SGSU.L - Expense Ratio Comparison
FGOV.L has a 0.45% expense ratio, which is higher than SGSU.L's 0.17% expense ratio.
Dividends
FGOV.L vs. SGSU.L - Dividend Comparison
FGOV.L's dividend yield for the trailing twelve months is around 3.28%, less than SGSU.L's 4.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
FGOV.L First Trust Low Duration Global Government Bond UCITS ETF GBP Hedged dist | 3.28% | 2.82% | 2.27% | 1.86% | 1.01% | 1.20% | 0.15% |
SGSU.L iShares $ Corp Bond 0-3yr ESG SRI UCITS ETF GBP Hedged (Dist) | 4.46% | 4.60% | 4.62% | 3.98% | 1.67% | 0.79% | 3.43% |
Frequently Asked Questions
FGOV.L and SGSU.L have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SGSU.L is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SGSU.L is cheaper with a 0.17% expense ratio, compared with 0.45% for FGOV.L.
FGOV.L tracks Bloomberg Global Aggregate TR Hdg GBP, while SGSU.L tracks iShares $ Corp Bond 0-3yr ESG SRI UCITS ETF GBP Hedged (Dist). They also come from different issuers: First Trust and iShares. Their fees differ too: 0.45% for FGOV.L and 0.17% for SGSU.L.
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