GAAA.L vs. PRIG.L

Last updated Jun 5, 2026

GAAA.L (iShares Global AAA-AA Govt Bond UCITS ETF USD (Acc)) and PRIG.L (Amundi Prime Global Govies UCITS ETF DR (D)) are both Global Bonds funds tracking the Bloomberg Global Aggregate TR USD, from iShares and Amundi respectively. Both are passively managed. Over the past 5 years, GAAA.L returned -3.02%/yr vs -3.22%/yr for PRIG.L. A 0.67 correlation means they provide meaningful diversification when combined. GAAA.L charges 0.20%/yr vs 0.05%/yr for PRIG.L.

Performance

GAAA.L vs. PRIG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global AAA-AA Govt Bond UCITS ETF USD (Acc) (GAAA.L) and Amundi Prime Global Govies UCITS ETF DR (D) (PRIG.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

GAAA.L is traded in USD, while PRIG.L is traded in GBp. To make them comparable, the PRIG.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, GAAA.L achieves a 0.12% return, which is significantly higher than PRIG.L's -1.12% return.

GAAA.L

• 1D: 0.20%
• 1M: -0.00%
• YTD: 0.12%
• 6M: 0.69%
• 1Y: 1.91%
• 3Y*: 3.95%
• 5Y*: -3.02%
• 10Y*: —

PRIG.L

• 1D: 0.11%
• 1M: -0.05%
• YTD: -1.12%
• 6M: -0.63%
• 1Y: 0.30%
• 3Y*: 1.84%
• 5Y*: -3.22%
• 10Y*: —

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

GAAA.L vs. PRIG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
GAAA.L iShares Global AAA-AA Govt Bond UCITS ETF USD (Acc)	0.12%	10.43%	-5.07%	8.26%	-20.61%	-8.76%	12.37%	3.73%
PRIG.L Amundi Prime Global Govies UCITS ETF DR (D)	-1.12%	7.34%	-3.43%	4.13%	-18.08%	-6.76%	9.21%	6.34%

Correlation

The correlation between GAAA.L and PRIG.L is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (All Time) Calculated using the full available price history since Mar 15, 2019	0.67

The correlation between GAAA.L and PRIG.L has been stable across timeframes, ranging from 0.66 to 0.71 - a consistent structural relationship.

Return for Risk

GAAA.L vs. PRIG.L — Risk / Return Rank

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

GAAA.L

GAAA.L Risk / Return Rank: 13
GAAA.L Sharpe Ratio Rank: 13
GAAA.L Sortino Ratio Rank: 12
GAAA.L Omega Ratio Rank: 12
GAAA.L Calmar Ratio Rank: 14
GAAA.L Martin Ratio Rank: 14

PRIG.L

PRIG.L Risk / Return Rank: 12
PRIG.L Sharpe Ratio Rank: 13
PRIG.L Sortino Ratio Rank: 12
PRIG.L Omega Ratio Rank: 12
PRIG.L Calmar Ratio Rank: 12
PRIG.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.

GAAA.L vs. PRIG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global AAA-AA Govt Bond UCITS ETF USD (Acc) (GAAA.L) and Amundi Prime Global Govies UCITS ETF DR (D) (PRIG.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.

	GAAA.L	PRIG.L	Difference
Sharpe ratio: Return per unit of total volatility	0.26	0.05	+0.22
Sortino ratio: Return per unit of downside risk	0.43	0.11	+0.32
Omega ratio: Gain probability vs. loss probability	1.05	1.01	+0.04
Calmar ratio: Return relative to maximum drawdown	0.37	0.07	+0.30
Martin ratio: Return relative to average drawdown	0.98	0.17	+0.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GAAA.L vs. PRIG.L - Sharpe Ratio Comparison

The current GAAA.L Sharpe Ratio is 0.26, which is higher than the PRIG.L Sharpe Ratio of 0.05. The chart below compares the historical Sharpe Ratios of GAAA.L and PRIG.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.

Sharpe Ratios by Period

	GAAA.L	PRIG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.26	0.05	+0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.34	-0.40	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	-0.07	-0.09	+0.03

Drawdowns

GAAA.L vs. PRIG.L - Drawdown Comparison

The maximum GAAA.L drawdown since its inception was -33.06%, which is greater than PRIG.L's maximum drawdown of -29.12%. Use the drawdown chart below to compare losses from any high point for GAAA.L and PRIG.L.

Drawdown Indicators

	GAAA.L	PRIG.L	Difference
Max Drawdown Largest peak-to-trough decline	-33.06%	-29.12%	-3.94%
Max Drawdown (1Y) Largest decline over 1 year	-5.08%	-4.27%	-0.81%
Max Drawdown (3Y) Largest decline over 3 years	-10.29%	-8.06%	-2.23%
Max Drawdown (5Y) Largest decline over 5 years	-30.55%	-26.77%	-3.78%
Current Drawdown Current decline from peak	-17.69%	-18.93%	+1.24%
Average Drawdown Average peak-to-trough decline	-13.80%	-13.97%	+0.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	1.76%	+0.19%

Volatility

GAAA.L vs. PRIG.L - Volatility Comparison

iShares Global AAA-AA Govt Bond UCITS ETF USD (Acc) (GAAA.L) has a higher volatility of 2.52% compared to Amundi Prime Global Govies UCITS ETF DR (D) (PRIG.L) at 1.89%. This indicates that GAAA.L's price experiences larger fluctuations and is considered to be riskier than PRIG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GAAA.L	PRIG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.52%	1.89%	+0.63%
Volatility (6M) Calculated over the trailing 6-month period	5.61%	4.53%	+1.08%
Volatility (1Y) Calculated over the trailing 1-year period	7.23%	6.29%	+0.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.91%	8.11%	+0.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.96%	7.96%	0.00%

GAAA.L vs. PRIG.L - Expense Ratio Comparison

GAAA.L has a 0.20% expense ratio, which is higher than PRIG.L's 0.05% 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

GAAA.L vs. PRIG.L - Dividend Comparison

GAAA.L has not paid dividends to shareholders, while PRIG.L's dividend yield for the trailing twelve months is around 2.98%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
GAAA.L iShares Global AAA-AA Govt Bond UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PRIG.L Amundi Prime Global Govies UCITS ETF DR (D)	2.98%	2.96%	2.31%	1.97%	1.72%	1.50%	1.75%	1.23%

Frequently Asked Questions

Can I hold both GAAA.L and PRIG.L in my portfolio?

GAAA.L and PRIG.L have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GAAA.L or PRIG.L?

On fees, PRIG.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GAAA.L or PRIG.L?

PRIG.L is cheaper with a 0.05% expense ratio, compared with 0.20% for GAAA.L.

What is the main difference between GAAA.L and PRIG.L?

Both ETFs track Bloomberg Global Aggregate TR USD. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.20% for GAAA.L and 0.05% for PRIG.L.