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 8.60%/yr for ^BCOM. At a 0.06 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 -0.92% return, which is significantly lower than ^BCOM's 24.10% return.
GGOV.L
- 1D
- 0.15%
- 1M
- 0.73%
- YTD
- -0.92%
- 6M
- -1.54%
- 1Y
- 0.64%
- 3Y*
- -1.14%
- 5Y*
- -2.27%
- 10Y*
- —
^BCOM
- 1D
- -1.15%
- 1M
- -3.03%
- YTD
- 24.10%
- 6M
- 21.16%
- 1Y
- 33.70%
- 3Y*
- 7.88%
- 5Y*
- 8.60%
- 10Y*
- 5.18%
GGOV.L vs. ^BCOM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GGOV.L Amundi Index J.P. Morgan GBI Global Govies | -0.92% | -1.06% | -1.97% | -1.94% | -7.40% | -5.91% | 6.13% | -8.77% |
^BCOM Bloomberg Commodity Index | 24.10% | 3.15% | 1.87% | -16.92% | 27.28% | 28.25% | -6.34% | -3.86% |
Correlation
The correlation between GGOV.L and ^BCOM is -0.04, 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 | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2019 | 0.06 |
The correlation between GGOV.L and ^BCOM shifts across timeframes, from -0.04 (1 year) to 0.06 (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.
| GGOV.L | ^BCOM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.64 | ||
| Sortino ratioReturn per unit of downside risk | -2.03 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.32 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.14 | 4.24 | -4.10 |
| Martin ratioReturn relative to average drawdown | 0.26 | 9.49 | -9.23 |
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
| GGOV.L | ^BCOM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.14 | 1.77 | -1.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.36 | 0.52 | -0.88 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.33 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.51 | 0.06 | -0.57 |
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 -60.01%. 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% | -60.01% | +34.05% |
Max Drawdown (1Y)Largest decline over 1 year | -4.67% | -7.78% | +3.11% |
Max Drawdown (3Y)Largest decline over 3 years | -5.70% | -18.30% | +12.60% |
Max Drawdown (5Y)Largest decline over 5 years | -16.68% | -35.13% | +18.45% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.13% | — |
Current DrawdownCurrent decline from peak | -24.80% | -15.69% | -9.11% |
Average DrawdownAverage peak-to-trough decline | -18.43% | -34.14% | +15.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.46% | 3.51% | -1.05% |
Volatility
GGOV.L vs. ^BCOM - Volatility Comparison
The current volatility for Amundi Index J.P. Morgan GBI Global Govies (GGOV.L) is 1.30%, while Bloomberg Commodity Index (^BCOM) has a volatility of 5.13%. 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 | 1.30% | 5.13% | -3.83% |
Volatility (6M)Calculated over the trailing 6-month period | 3.42% | 16.25% | -12.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.66% | 18.58% | -13.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.19% | 16.53% | -8.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.19% | 15.55% | -6.36% |
Frequently Asked Questions
GGOV.L and ^BCOM have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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