FSMG.L vs. V3GD.L
FSMG.L (Fidelity Sustainable Global Corporate Bond Paris-Aligned Multifactor UCITS ETF INC-USD) and V3GD.L (Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Distributing) are both Global Corporate Bonds funds - FSMG.L tracks the Bloomberg Gbl Agg Corp TR USD while V3GD.L tracks the Bloomberg Gbl Agg Corp 0901 TR Hdg USD. Both are passively managed. Over the past 5 years, FSMG.L returned 1.58%/yr vs 2.11%/yr for V3GD.L. A 0.72 correlation means they provide meaningful diversification when combined. FSMG.L charges 0.25%/yr vs 0.15%/yr for V3GD.L.
Performance
FSMG.L vs. V3GD.L - Performance Comparison
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Different Trading Currencies
FSMG.L is traded in GBP, while V3GD.L is traded in USD. To make them comparable, the V3GD.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, FSMG.L achieves a 0.98% return, which is significantly higher than V3GD.L's 0.77% return.
FSMG.L
- 1D
- -0.11%
- 1M
- 1.36%
- YTD
- 0.98%
- 6M
- 0.58%
- 1Y
- 6.75%
- 3Y*
- 3.72%
- 5Y*
- 1.58%
- 10Y*
- —
V3GD.L
- 1D
- 0.05%
- 1M
- 1.41%
- YTD
- 0.77%
- 6M
- 0.02%
- 1Y
- 5.34%
- 3Y*
- 2.92%
- 5Y*
- 2.11%
- 10Y*
- —
FSMG.L vs. V3GD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FSMG.L Fidelity Sustainable Global Corporate Bond Paris-Aligned Multifactor UCITS ETF INC-USD | 0.98% | 2.65% | 2.78% | 3.90% | -5.75% | 3.84% |
V3GD.L Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Distributing | 0.77% | -1.30% | 5.75% | 3.20% | -2.95% | 5.75% |
Correlation
The correlation between FSMG.L and V3GD.L is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since May 26, 2021 | 0.72 |
The correlation between FSMG.L and V3GD.L has been stable across timeframes, ranging from 0.68 to 0.72 - a consistent structural relationship.
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Return for Risk
FSMG.L vs. V3GD.L — Risk / Return Rank
FSMG.L
V3GD.L
FSMG.L vs. V3GD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Sustainable Global Corporate Bond Paris-Aligned Multifactor UCITS ETF INC-USD (FSMG.L) and Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Distributing (V3GD.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.
| FSMG.L | V3GD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.37 | ||
| Sortino ratioReturn per unit of downside risk | +0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.15 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 1.00 | +0.63 |
| Martin ratioReturn relative to average drawdown | 3.74 | 2.46 | +1.28 |
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
| FSMG.L | V3GD.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.19 | 0.82 | +0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.22 | 0.24 | -0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.25 | -0.03 |
Drawdowns
FSMG.L vs. V3GD.L - Drawdown Comparison
The maximum FSMG.L drawdown since its inception was -11.66%, smaller than the maximum V3GD.L drawdown of -13.73%. Use the drawdown chart below to compare losses from any high point for FSMG.L and V3GD.L.
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Drawdown Indicators
| FSMG.L | V3GD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.66% | -13.73% | +2.07% |
Max Drawdown (1Y)Largest decline over 1 year | -4.12% | -5.30% | +1.18% |
Max Drawdown (3Y)Largest decline over 3 years | -5.52% | -8.65% | +3.13% |
Max Drawdown (5Y)Largest decline over 5 years | -11.66% | -13.73% | +2.07% |
Current DrawdownCurrent decline from peak | -1.72% | -2.84% | +1.12% |
Average DrawdownAverage peak-to-trough decline | -4.51% | -5.27% | +0.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.80% | 2.17% | -0.37% |
Volatility
FSMG.L vs. V3GD.L - Volatility Comparison
Fidelity Sustainable Global Corporate Bond Paris-Aligned Multifactor UCITS ETF INC-USD (FSMG.L) has a higher volatility of 2.37% compared to Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Distributing (V3GD.L) at 1.81%. This indicates that FSMG.L's price experiences larger fluctuations and is considered to be riskier than V3GD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSMG.L | V3GD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.37% | 1.81% | +0.56% |
Volatility (6M)Calculated over the trailing 6-month period | 4.46% | 5.14% | -0.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.67% | 6.50% | -0.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.32% | 8.63% | -1.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.32% | 8.62% | -1.30% |
FSMG.L vs. V3GD.L - Expense Ratio Comparison
FSMG.L has a 0.25% expense ratio, which is higher than V3GD.L's 0.15% 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
FSMG.L vs. V3GD.L - Dividend Comparison
FSMG.L's dividend yield for the trailing twelve months is around 6.04%, more than V3GD.L's 4.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
FSMG.L Fidelity Sustainable Global Corporate Bond Paris-Aligned Multifactor UCITS ETF INC-USD | 6.04% | 4.83% | 5.10% | 4.67% | 2.87% | 1.10% |
V3GD.L Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Distributing | 4.37% | 4.45% | 4.35% | 4.05% | 2.44% | 0.70% |
Frequently Asked Questions
FSMG.L and V3GD.L have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, V3GD.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
V3GD.L is cheaper with a 0.15% expense ratio, compared with 0.25% for FSMG.L.
FSMG.L tracks Bloomberg Gbl Agg Corp TR USD, while V3GD.L tracks Bloomberg Gbl Agg Corp 0901 TR Hdg USD. They also come from different issuers: Fidelity and Vanguard. Their fees differ too: 0.25% for FSMG.L and 0.15% for V3GD.L.
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