FXGB.L vs. AGBP.L
FXGB.L (First Trust FactorFX UCITS ETF Class B GBP Hedged (Acc)) and AGBP.L (iShares Core Global Aggregate Bond UCITS ETF GBP Hedged (Dist)) are both exchange-traded funds - FXGB.L is a Currency fund tracking the Bloomberg G10 Carry Index, while AGBP.L is a Global Bonds fund tracking the Bloomberg Global Aggregate TR Hdg GBP. Both are passively managed. Over the past 5 years, FXGB.L returned 5.13%/yr vs -0.39%/yr for AGBP.L. At a correlation of -0.05, they often move in opposite directions. FXGB.L charges 0.75%/yr vs 0.10%/yr for AGBP.L.
Performance
FXGB.L vs. AGBP.L - Performance Comparison
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Different Trading Currencies
FXGB.L is traded in GBp, while AGBP.L is traded in GBP. To make them comparable, the AGBP.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, FXGB.L achieves a 6.71% return, which is significantly higher than AGBP.L's -1.17% return.
FXGB.L
- 1D
- 0.47%
- 1M
- 1.70%
- 6M
- 5.78%
- YTD
- 6.71%
- 1Y
- 11.40%
- 3Y*
- 6.44%
- 5Y*
- 5.13%
- 10Y*
- —
AGBP.L
- 1D
- 0.00%
- 1M
- -0.32%
- 6M
- 0.33%
- YTD
- -1.17%
- 1Y
- 1.43%
- 3Y*
- 3.24%
- 5Y*
- -0.39%
- 10Y*
- —
FXGB.L vs. AGBP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXGB.L First Trust FactorFX UCITS ETF Class B GBP Hedged (Acc) | 6.71% | 7.73% | 5.81% | 10.67% | -1.83% | -2.87% | -1.20% | 2.63% | -1.11% | 0.76% |
AGBP.L iShares Core Global Aggregate Bond UCITS ETF GBP Hedged (Dist) | -1.17% | 4.46% | 3.11% | 5.71% | -12.34% | -1.79% | 4.12% | 6.44% | -0.03% | -0.20% |
Correlation
The correlation between FXGB.L and AGBP.L is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Nov 29, 2017 | -0.05 |
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Return for Risk
FXGB.L vs. AGBP.L — Risk / Return Rank
FXGB.L
AGBP.L
FXGB.L vs. AGBP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust FactorFX UCITS ETF Class B GBP Hedged (Acc) (FXGB.L) and iShares Core Global Aggregate Bond UCITS ETF GBP Hedged (Dist) (AGBP.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.
| FXGB.L | AGBP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.68 | ||
| Sortino ratioReturn per unit of downside risk | +1.01 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.07 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.62 | 0.51 | +2.11 |
| Martin ratioReturn relative to average drawdown | 7.33 | 1.25 | +6.08 |
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Drawdowns
FXGB.L vs. AGBP.L - Drawdown Comparison
The maximum FXGB.L drawdown since its inception was -9.43%, smaller than the maximum AGBP.L drawdown of -16.39%. Use the drawdown chart below to compare losses from any high point for FXGB.L and AGBP.L.
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Drawdown Indicators
| FXGB.L | AGBP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.43% | -16.39% | +6.96% |
Max Drawdown (1Y)Largest decline over 1 year | -4.33% | -2.77% | -1.56% |
Max Drawdown (3Y)Largest decline over 3 years | -6.86% | -3.59% | -3.27% |
Max Drawdown (5Y)Largest decline over 5 years | -7.66% | -16.01% | +8.35% |
Current DrawdownCurrent decline from peak | 0.00% | -3.30% | +3.30% |
Average DrawdownAverage peak-to-trough decline | -2.72% | -4.83% | +2.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.55% | 1.14% | +0.41% |
Volatility
FXGB.L vs. AGBP.L - Volatility Comparison
First Trust FactorFX UCITS ETF Class B GBP Hedged (Acc) (FXGB.L) has a higher volatility of 2.67% compared to iShares Core Global Aggregate Bond UCITS ETF GBP Hedged (Dist) (AGBP.L) at 1.21%. This indicates that FXGB.L's price experiences larger fluctuations and is considered to be riskier than AGBP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXGB.L | AGBP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.67% | 1.21% | +1.46% |
Volatility (6M)Calculated over the trailing 6-month period | 8.42% | 3.07% | +5.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.10% | 4.16% | +6.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.87% | 4.93% | +2.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.75% | 4.36% | +2.39% |
FXGB.L vs. AGBP.L - Expense Ratio Comparison
FXGB.L has a 0.75% expense ratio, which is higher than AGBP.L's 0.10% expense ratio.
Dividends
FXGB.L vs. AGBP.L - Dividend Comparison
FXGB.L has not paid dividends to shareholders, while AGBP.L's dividend yield for the trailing twelve months is around 1.65%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
AGBP.L iShares Core Global Aggregate Bond UCITS ETF GBP Hedged (Dist) | 1.65% | 3.00% | 2.59% | 1.96% | 1.56% | 1.27% | 1.53% | 1.65% | 0.98% |
FXGB.L First Trust FactorFX UCITS ETF Class B GBP Hedged (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FXGB.L and AGBP.L have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AGBP.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AGBP.L is cheaper with a 0.10% expense ratio, compared with 0.75% for FXGB.L.
FXGB.L is categorized as Currency, while AGBP.L is Global Bonds. FXGB.L tracks Bloomberg G10 Carry Index, while AGBP.L tracks Bloomberg Global Aggregate TR Hdg GBP. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.75% for FXGB.L and 0.10% for AGBP.L.
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