GGOV.L vs. ^BCOM
GGOV.L (Amundi Index J.P. Morgan GBI Global Govies) is Global Bonds fund tracking the Bloomberg Global Aggregate TR USD, while ^BCOM (Bloomberg Commodity Index) is an index. Over the past 5 years, GGOV.L returned -2.27%/yr vs 7.84%/yr for ^BCOM. At a 0.09 correlation, their price movements are largely independent.
Performance
GGOV.L vs. ^BCOM - Performance Comparison
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Different Trading Currencies
GGOV.L is traded in GBp, while ^BCOM is traded in USD. To make them comparable, the ^BCOM values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, GGOV.L achieves a 0.01% return, which is significantly lower than ^BCOM's 18.02% return.
GGOV.L
- 1D
- -0.23%
- 1M
- 0.88%
- YTD
- 0.01%
- 6M
- 0.37%
- 1Y
- 1.75%
- 3Y*
- -0.20%
- 5Y*
- -2.27%
- 10Y*
- —
^BCOM
- 1D
- -0.41%
- 1M
- -4.31%
- YTD
- 18.02%
- 6M
- 15.31%
- 1Y
- 28.63%
- 3Y*
- 5.44%
- 5Y*
- 7.84%
- 10Y*
- 4.66%
GGOV.L vs. ^BCOM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GGOV.L Amundi Index J.P. Morgan GBI Global Govies | 0.01% | -1.23% | -1.81% | -1.94% | -7.40% | -5.52% | 5.72% | 2.06% | 4.53% | -16.03% |
^BCOM Bloomberg Commodity Index | 18.02% | 3.15% | 1.86% | -16.92% | 27.28% | 28.26% | -6.35% | 1.42% | -7.83% | -7.96% |
Correlation
The correlation between GGOV.L and ^BCOM is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Nov 14, 2016 | 0.09 |
The correlation between GGOV.L and ^BCOM shifts across timeframes, from -0.05 (1 year) to 0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GGOV.L vs. ^BCOM — Risk / Return Rank
GGOV.L
^BCOM
GGOV.L vs. ^BCOM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi Index J.P. Morgan GBI Global Govies (GGOV.L) and Bloomberg Commodity Index (^BCOM). 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.
| GGOV.L | ^BCOM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.89 | ||
| Sortino ratioReturn per unit of downside risk | -1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.20 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.18 | 1.87 | -1.68 |
| Martin ratioReturn relative to average drawdown | 0.34 | 5.53 | -5.19 |
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Drawdowns
GGOV.L vs. ^BCOM - Drawdown Comparison
The maximum GGOV.L drawdown since its inception was -25.96%, smaller than the maximum ^BCOM drawdown of -60.02%. Use the drawdown chart below to compare losses from any high point for GGOV.L and ^BCOM.
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Drawdown Indicators
| GGOV.L | ^BCOM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.96% | -60.02% | +34.06% |
Max Drawdown (1Y)Largest decline over 1 year | -4.67% | -10.82% | +6.15% |
Max Drawdown (3Y)Largest decline over 3 years | -24.48% | -18.30% | -6.18% |
Max Drawdown (5Y)Largest decline over 5 years | -24.48% | -35.13% | +10.65% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.13% | — |
Current DrawdownCurrent decline from peak | -24.09% | -19.82% | -4.27% |
Average DrawdownAverage peak-to-trough decline | -16.37% | -34.23% | +17.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.57% | 3.89% | -1.32% |
Volatility
GGOV.L vs. ^BCOM - Volatility Comparison
The current volatility for Amundi Index J.P. Morgan GBI Global Govies (GGOV.L) is 1.26%, while Bloomberg Commodity Index (^BCOM) has a volatility of 4.46%. This indicates that GGOV.L experiences smaller price fluctuations and is considered to be less risky than ^BCOM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GGOV.L | ^BCOM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.26% | 4.46% | -3.20% |
Volatility (6M)Calculated over the trailing 6-month period | 3.51% | 16.34% | -12.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.72% | 18.83% | -14.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.46% | 16.65% | +2.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.65% | 15.63% | +0.02% |
Frequently Asked Questions
GGOV.L and ^BCOM have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for GGOV.L and ^BCOM
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