GAGG.L vs. IRCP.L
GAGG.L (Amundi Index Barclays Global Agg 500M) and IRCP.L (iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist)) are both exchange-traded funds - GAGG.L is a Global Bonds fund tracking the Bloomberg Global Aggregate TR USD, while IRCP.L is a European Corporate Bonds fund tracking the Bloomberg MSCI EUR Corporate Interest Rate Hedged ESG SRI Index. Both are passively managed. Over the past 5 years, GAGG.L returned -1.44%/yr vs 2.55%/yr for IRCP.L. At a 0.32 correlation, their price movements are largely independent. GAGG.L charges 0.03%/yr vs 0.25%/yr for IRCP.L.
Performance
GAGG.L vs. IRCP.L - Performance Comparison
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Different Trading Currencies
GAGG.L is traded in GBp, while IRCP.L is traded in EUR. To make them comparable, the IRCP.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, GAGG.L achieves a -0.84% return, which is significantly higher than IRCP.L's -1.09% return.
GAGG.L
- 1D
- 0.30%
- 1M
- -1.46%
- 6M
- -0.95%
- YTD
- -0.84%
- 1Y
- 1.09%
- 3Y*
- 1.60%
- 5Y*
- -1.44%
- 10Y*
- —
IRCP.L
- 1D
- 0.11%
- 1M
- -1.28%
- 6M
- -0.66%
- YTD
- -1.09%
- 1Y
- 1.33%
- 3Y*
- 4.68%
- 5Y*
- 2.55%
- 10Y*
- 1.68%
GAGG.L vs. IRCP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GAGG.L Amundi Index Barclays Global Agg 500M | -0.84% | 0.42% | 0.19% | -0.73% | -5.96% | -3.91% | 5.63% | 2.75% | 4.63% | -16.13% |
IRCP.L iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) | -1.09% | 9.79% | 1.63% | 3.04% | 2.28% | -6.16% | 6.54% | -1.90% | -2.68% | 5.79% |
Correlation
The correlation between GAGG.L and IRCP.L is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Oct 21, 2016 | 0.32 |
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Return for Risk
GAGG.L vs. IRCP.L — Risk / Return Rank
GAGG.L
IRCP.L
GAGG.L vs. IRCP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi Index Barclays Global Agg 500M (GAGG.L) and iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) (IRCP.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.
| GAGG.L | IRCP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.05 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.30 | 0.52 | -0.23 |
| Martin ratioReturn relative to average drawdown | 0.57 | 1.51 | -0.93 |
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Drawdowns
GAGG.L vs. IRCP.L - Drawdown Comparison
The maximum GAGG.L drawdown since its inception was -21.52%, which is greater than IRCP.L's maximum drawdown of -19.15%. Use the drawdown chart below to compare losses from any high point for GAGG.L and IRCP.L.
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Drawdown Indicators
| GAGG.L | IRCP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.52% | -19.15% | -2.37% |
Max Drawdown (1Y)Largest decline over 1 year | -3.67% | -2.55% | -1.12% |
Max Drawdown (3Y)Largest decline over 3 years | -4.94% | -2.55% | -2.39% |
Max Drawdown (5Y)Largest decline over 5 years | -14.17% | -8.09% | -6.08% |
Max Drawdown (10Y)Largest decline over 10 years | — | -12.86% | — |
Current DrawdownCurrent decline from peak | -16.68% | -2.16% | -14.52% |
Average DrawdownAverage peak-to-trough decline | -13.53% | -5.61% | -7.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.90% | 0.88% | +1.02% |
Volatility
GAGG.L vs. IRCP.L - Volatility Comparison
Amundi Index Barclays Global Agg 500M (GAGG.L) has a higher volatility of 1.25% compared to iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) (IRCP.L) at 1.09%. This indicates that GAGG.L's price experiences larger fluctuations and is considered to be riskier than IRCP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GAGG.L | IRCP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.25% | 1.09% | +0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 3.33% | 3.51% | -0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.49% | 4.65% | -0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.54% | 6.05% | +0.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.96% | 7.09% | +0.87% |
GAGG.L vs. IRCP.L - Expense Ratio Comparison
GAGG.L has a 0.03% expense ratio, which is lower than IRCP.L's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GAGG.L vs. IRCP.L - Dividend Comparison
GAGG.L has not paid dividends to shareholders, while IRCP.L's dividend yield for the trailing twelve months is around 2.58%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GAGG.L Amundi Index Barclays Global Agg 500M | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IRCP.L iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) | 2.58% | 2.91% | 3.70% | 2.52% | 0.43% | 0.70% | 0.82% | 0.92% | 0.58% | 0.71% | 1.35% | 1.47% |
Frequently Asked Questions
GAGG.L and IRCP.L have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
GAGG.L is cheaper with a 0.03% expense ratio, compared with 0.25% for IRCP.L.
GAGG.L is categorized as Global Bonds, while IRCP.L is European Corporate Bonds. GAGG.L tracks Bloomberg Global Aggregate TR USD, while IRCP.L tracks Bloomberg MSCI EUR Corporate Interest Rate Hedged ESG SRI Index. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.03% for GAGG.L and 0.25% for IRCP.L.
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