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 -3.18%/yr vs 7.32%/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 -1.84% return, which is significantly lower than ^BCOM's 19.94% return.
GGOV.L
- 1D
- -0.12%
- 1M
- -1.86%
- 6M
- -1.39%
- YTD
- -1.84%
- 1Y
- -1.37%
- 3Y*
- -0.65%
- 5Y*
- -3.18%
- 10Y*
- —
- ALL TIME*
- -2.68%
^BCOM
- 1D
- 1.45%
- 1M
- 2.77%
- 6M
- 11.70%
- YTD
- 19.94%
- 1Y
- 26.17%
- 3Y*
- 6.66%
- 5Y*
- 7.32%
- 10Y*
- 4.08%
- ALL TIME*
- 0.93%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| £0.00 | £0.00 | £0.00 | |
| £875.53 | £7.65K | £5.65K |
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 | -1.84% | -1.23% | -1.81% | -1.94% | -7.40% | -5.52% | 5.72% | 2.06% | 4.53% | -16.03% |
^BCOM Bloomberg Commodity Index | 19.94% | 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 -0.10, 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 | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.00 |
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 -0.10 (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 | -1.54 | ||
| Sortino ratioReturn per unit of downside risk | -2.07 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.25 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.17 | 1.89 | -2.06 |
| Martin ratioReturn relative to average drawdown | -0.30 | 5.74 | -6.04 |
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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 | -4.95% | -13.50% | +8.55% |
Max Drawdown (3Y)Largest decline over 3 years | -24.53% | -18.30% | -6.23% |
Max Drawdown (5Y)Largest decline over 5 years | -24.53% | -35.13% | +10.60% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.13% | — |
Current DrawdownCurrent decline from peak | -25.50% | -18.51% | -6.99% |
Average DrawdownAverage peak-to-trough decline | -16.44% | -34.32% | +17.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.78% | 4.44% | -1.66% |
Volatility
GGOV.L vs. ^BCOM - Volatility Comparison
The current volatility for Amundi Index J.P. Morgan GBI Global Govies (GGOV.L) is 1.47%, while Bloomberg Commodity Index (^BCOM) has a volatility of 4.76%. 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 | 1.47% | 4.76% | -3.29% |
Volatility (6M)Calculated over the trailing 6-month period | 3.64% | 16.27% | -12.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.81% | 18.67% | -13.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.45% | 16.71% | +2.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.59% | 15.40% | +0.19% |
Frequently Asked Questions
GGOV.L and ^BCOM have a correlation of -0.10, 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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