GBPG.L vs. VGVA.L
GBPG.L (Goldman Sachs Access UK Gilts 1-10 Years UCITS ETF Class GBP (Dist)) and VGVA.L (Vanguard UK Gilt UCITS ETF Accumulating) are both European Government Bonds funds tracking the FTSE Act UK Cnvt Gilts All Stocks TR GBP, from Goldman Sachs and Vanguard respectively. Both are passively managed. Over the past 3 years, GBPG.L returned 3.71%/yr vs 4.80%/yr for VGVA.L. Their correlation of 0.87 suggests significant overlap in exposure. Both charge a 0.07% expense ratio.
Performance
GBPG.L vs. VGVA.L - Performance Comparison
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Returns By Period
In the year-to-date period, GBPG.L achieves a 3.11% return, which is significantly higher than VGVA.L's -1.16% return.
GBPG.L
- 1D
- 0.02%
- 1M
- 0.56%
- YTD
- 3.11%
- 6M
- 0.30%
- 1Y
- 3.02%
- 3Y*
- 3.71%
- 5Y*
- —
- 10Y*
- —
VGVA.L
- 1D
- 0.05%
- 1M
- 0.64%
- YTD
- -1.16%
- 6M
- -1.02%
- 1Y
- 2.15%
- 3Y*
- 4.80%
- 5Y*
- -3.15%
- 10Y*
- —
GBPG.L vs. VGVA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GBPG.L Goldman Sachs Access UK Gilts 1-10 Years UCITS ETF Class GBP (Dist) | 3.11% | 2.23% | 0.17% | 4.28% | -9.15% | -1.16% |
VGVA.L Vanguard UK Gilt UCITS ETF Accumulating | -1.16% | 6.05% | 0.25% | 6.72% | -25.85% | -0.67% |
Correlation
The correlation between GBPG.L and VGVA.L is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Sep 8, 2021 | 0.87 |
The correlation between GBPG.L and VGVA.L has been stable across timeframes, ranging from 0.87 to 0.91 - a consistent structural relationship.
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Return for Risk
GBPG.L vs. VGVA.L — Risk / Return Rank
GBPG.L
VGVA.L
GBPG.L vs. VGVA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Access UK Gilts 1-10 Years UCITS ETF Class GBP (Dist) (GBPG.L) and Vanguard UK Gilt UCITS ETF Accumulating (VGVA.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.
| GBPG.L | VGVA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.06 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.95 | 0.37 | +0.58 |
| Martin ratioReturn relative to average drawdown | 2.58 | 1.00 | +1.57 |
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
| GBPG.L | VGVA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.51 | 0.33 | +0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.28 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.04 | -0.08 | +0.03 |
Drawdowns
GBPG.L vs. VGVA.L - Drawdown Comparison
The maximum GBPG.L drawdown since its inception was -15.04%, smaller than the maximum VGVA.L drawdown of -37.39%. Use the drawdown chart below to compare losses from any high point for GBPG.L and VGVA.L.
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Drawdown Indicators
| GBPG.L | VGVA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.04% | -37.39% | +22.35% |
Max Drawdown (1Y)Largest decline over 1 year | -3.16% | -5.76% | +2.60% |
Max Drawdown (3Y)Largest decline over 3 years | -3.30% | -6.89% | +3.59% |
Max Drawdown (5Y)Largest decline over 5 years | — | -36.32% | — |
Current DrawdownCurrent decline from peak | -1.67% | -21.58% | +19.91% |
Average DrawdownAverage peak-to-trough decline | -5.90% | -16.21% | +10.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 2.14% | -0.97% |
Volatility
GBPG.L vs. VGVA.L - Volatility Comparison
The current volatility for Goldman Sachs Access UK Gilts 1-10 Years UCITS ETF Class GBP (Dist) (GBPG.L) is 1.40%, while Vanguard UK Gilt UCITS ETF Accumulating (VGVA.L) has a volatility of 2.64%. This indicates that GBPG.L experiences smaller price fluctuations and is considered to be less risky than VGVA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBPG.L | VGVA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.40% | 2.64% | -1.24% |
Volatility (6M)Calculated over the trailing 6-month period | 5.33% | 5.28% | +0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.85% | 6.57% | -0.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.41% | 11.32% | -5.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.41% | 10.88% | -5.47% |
GBPG.L vs. VGVA.L - Expense Ratio Comparison
Both GBPG.L and VGVA.L have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
GBPG.L vs. VGVA.L - Dividend Comparison
GBPG.L's dividend yield for the trailing twelve months is around 4.09%, while VGVA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
GBPG.L Goldman Sachs Access UK Gilts 1-10 Years UCITS ETF Class GBP (Dist) | 4.09% | 4.13% | 4.10% | 3.35% | 0.63% | 0.00% | 0.00% | 0.00% |
VGVA.L Vanguard UK Gilt UCITS ETF Accumulating | 0.00% | 1.84% | 3.99% | 3.09% | 1.85% | 1.08% | 1.12% | 1.09% |
Frequently Asked Questions
GBPG.L and VGVA.L have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.07% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
GBPG.L and VGVA.L have the same expense ratio: 0.07% per year.
Both ETFs track FTSE Act UK Cnvt Gilts All Stocks TR GBP. They also come from different issuers: Goldman Sachs and Vanguard.
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