FLRG.L vs. GAGG.L

Last updated Jul 16, 2026

FLRG.L (Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc)) and GAGG.L (Amundi Index Barclays Global Agg 500M) are both Global Bonds funds - FLRG.L tracks the Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc) while GAGG.L tracks the Bloomberg Global Aggregate TR USD. Both are passively managed. Over the past 5 years, FLRG.L returned -2.18%/yr vs -1.22%/yr for GAGG.L. At a 0.48 correlation, their price movements are largely independent. FLRG.L charges 0.25%/yr vs 0.03%/yr for GAGG.L.

Performance

FLRG.L vs. GAGG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc) (FLRG.L) and Amundi Index Barclays Global Agg 500M (GAGG.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FLRG.L is traded in EUR, while GAGG.L is traded in GBp. To make them comparable, the GAGG.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, FLRG.L achieves a 0.63% return, which is significantly lower than GAGG.L's 1.96% return.

FLRG.L

• 1D: -0.04%
• 1M: -0.46%
• 6M: 0.08%
• YTD: 0.63%
• 1Y: 1.35%
• 3Y*: 3.27%
• 5Y*: -2.18%
• 10Y*: —

GAGG.L

• 1D: 0.02%
• 1M: 0.65%
• 6M: 1.33%
• YTD: 1.96%
• 1Y: 3.22%
• 3Y*: 2.02%
• 5Y*: -1.22%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FLRG.L vs. GAGG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FLRG.L Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc)	0.63%	0.59%	2.78%	7.71%	-18.99%	-3.01%	5.46%	3.44%
GAGG.L Amundi Index Barclays Global Agg 500M	1.96%	-4.82%	5.03%	1.37%	-10.81%	2.34%	-0.11%	5.00%

Correlation

The correlation between FLRG.L and GAGG.L is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (All Time) Calculated using the full available price history since May 2, 2019	0.48

The correlation between FLRG.L and GAGG.L shifts across timeframes, from 0.39 (1 year) to 0.51 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FLRG.L vs. GAGG.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FLRG.L

FLRG.L Risk / Return Rank: 16
FLRG.L Sharpe Ratio Rank: 16
FLRG.L Sortino Ratio Rank: 14
FLRG.L Omega Ratio Rank: 14
FLRG.L Calmar Ratio Rank: 17
FLRG.L Martin Ratio Rank: 19

GAGG.L

GAGG.L Risk / Return Rank: 12
GAGG.L Sharpe Ratio Rank: 12
GAGG.L Sortino Ratio Rank: 11
GAGG.L Omega Ratio Rank: 11
GAGG.L Calmar Ratio Rank: 12
GAGG.L Martin Ratio Rank: 12

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.

FLRG.L vs. GAGG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc) (FLRG.L) and Amundi Index Barclays Global Agg 500M (GAGG.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.

	FLRG.L	GAGG.L	Difference
Sharpe ratio: Return per unit of total volatility	0.40	0.81	-0.42
Sortino ratio: Return per unit of downside risk	0.59	1.21	-0.62
Omega ratio: Gain probability vs. loss probability	1.07	1.14	-0.07
Calmar ratio: Return relative to maximum drawdown	0.58	1.45	-0.87
Martin ratio: Return relative to average drawdown	1.62	3.01	-1.40

FLRG.L vs. GAGG.L - Sharpe Ratio Comparison

The current FLRG.L Sharpe Ratio is 0.40, which is lower than the GAGG.L Sharpe Ratio of 0.81. The chart below compares the historical Sharpe Ratios of FLRG.L and GAGG.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.

Drawdowns

FLRG.L vs. GAGG.L - Drawdown Comparison

The maximum FLRG.L drawdown since its inception was -23.17%, smaller than the maximum GAGG.L drawdown of -26.15%. Use the drawdown chart below to compare losses from any high point for FLRG.L and GAGG.L.

Drawdown Indicators

	FLRG.L	GAGG.L	Difference
Max Drawdown Largest peak-to-trough decline	-23.17%	-26.15%	+2.98%
Max Drawdown (1Y) Largest decline over 1 year	-2.48%	-2.22%	-0.26%
Max Drawdown (3Y) Largest decline over 3 years	-3.41%	-7.78%	+4.37%
Max Drawdown (5Y) Largest decline over 5 years	-22.63%	-14.86%	-7.77%
Current Drawdown Current decline from peak	-12.19%	-17.50%	+5.31%
Average Drawdown Average peak-to-trough decline	-10.42%	-16.13%	+5.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	1.07%	-0.18%

Volatility

FLRG.L vs. GAGG.L - Volatility Comparison

Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc) (FLRG.L) and Amundi Index Barclays Global Agg 500M (GAGG.L) have volatilities of 1.02% and 0.99%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLRG.L	GAGG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.02%	0.99%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	2.98%	2.82%	+0.16%
Volatility (1Y) Calculated over the trailing 1-year period	3.61%	3.96%	-0.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.37%	6.37%	-1.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.99%	7.90%	-2.91%

FLRG.L vs. GAGG.L - Expense Ratio Comparison

FLRG.L has a 0.25% expense ratio, which is higher than GAGG.L's 0.03% 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

FLRG.L vs. GAGG.L - Dividend Comparison

Neither FLRG.L nor GAGG.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FLRG.L and GAGG.L in my portfolio?

FLRG.L and GAGG.L have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FLRG.L or GAGG.L?

On fees, GAGG.L is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FLRG.L or GAGG.L?

GAGG.L is cheaper with a 0.03% expense ratio, compared with 0.25% for FLRG.L.

What is the main difference between FLRG.L and GAGG.L?

FLRG.L tracks Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc), while GAGG.L tracks Bloomberg Global Aggregate TR USD. They also come from different issuers: Franklin and Amundi. Their fees differ too: 0.25% for FLRG.L and 0.03% for GAGG.L.