GGOV.L vs. GOVD.L
GGOV.L (Amundi Index J.P. Morgan GBI Global Govies) and GOVD.L (Lyxor Core Global Government Bond (DR) UCITS ETF - Dist) are both Global Bonds funds from Amundi tracking the Bloomberg Global Aggregate TR USD. Both are passively managed. Over the past 5 years, GGOV.L returned -2.30%/yr vs -1.58%/yr for GOVD.L. A 0.71 correlation means they provide meaningful diversification when combined. GGOV.L charges 0.10%/yr vs 0.09%/yr for GOVD.L.
Performance
GGOV.L vs. GOVD.L - Performance Comparison
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Different Trading Currencies
GGOV.L is traded in GBp, while GOVD.L is traded in GBP. To make them comparable, the GOVD.L 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 -1.07% return, which is significantly higher than GOVD.L's -26.42% return.
GGOV.L
- 1D
- -0.12%
- 1M
- 0.47%
- YTD
- -1.07%
- 6M
- -1.86%
- 1Y
- 0.56%
- 3Y*
- -1.19%
- 5Y*
- -2.30%
- 10Y*
- —
GOVD.L
- 1D
- -0.04%
- 1M
- -26.17%
- YTD
- -26.42%
- 6M
- -2.48%
- 1Y
- 0.44%
- 3Y*
- 0.23%
- 5Y*
- -1.58%
- 10Y*
- —
GGOV.L vs. GOVD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GGOV.L Amundi Index J.P. Morgan GBI Global Govies | -1.07% | -1.06% | -1.97% | -1.94% | -7.40% | -5.91% | -4.78% |
GOVD.L Lyxor Core Global Government Bond (DR) UCITS ETF - Dist | -26.42% | 33.30% | 1.30% | -0.61% | -8.32% | -5.61% | -4.31% |
Correlation
The correlation between GGOV.L and GOVD.L is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2020 | 0.71 |
The correlation between GGOV.L and GOVD.L has been stable across timeframes, ranging from 0.62 to 0.71 - a consistent structural relationship.
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Return for Risk
GGOV.L vs. GOVD.L — Risk / Return Rank
GGOV.L
GOVD.L
GGOV.L vs. GOVD.L - 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 Lyxor Core Global Government Bond (DR) UCITS ETF - Dist (GOVD.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.
| GGOV.L | GOVD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | -1.31 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.33 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.12 | 0.02 | +0.10 |
| Martin ratioReturn relative to average drawdown | 0.23 | 0.03 | +0.20 |
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 | GOVD.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.12 | 0.00 | +0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.37 | -0.02 | -0.35 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.52 | -0.04 | -0.47 |
Drawdowns
GGOV.L vs. GOVD.L - Drawdown Comparison
The maximum GGOV.L drawdown since its inception was -25.96%, smaller than the maximum GOVD.L drawdown of -28.26%. Use the drawdown chart below to compare losses from any high point for GGOV.L and GOVD.L.
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Drawdown Indicators
| GGOV.L | GOVD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.96% | -28.26% | +2.30% |
Max Drawdown (1Y)Largest decline over 1 year | -4.67% | -28.26% | +23.59% |
Max Drawdown (3Y)Largest decline over 3 years | -5.70% | -28.26% | +22.56% |
Max Drawdown (5Y)Largest decline over 5 years | -16.68% | -28.26% | +11.58% |
Current DrawdownCurrent decline from peak | -24.91% | -27.62% | +2.71% |
Average DrawdownAverage peak-to-trough decline | -18.42% | -14.83% | -3.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.45% | 14.81% | -12.36% |
Volatility
GGOV.L vs. GOVD.L - Volatility Comparison
The current volatility for Amundi Index J.P. Morgan GBI Global Govies (GGOV.L) is 1.30%, while Lyxor Core Global Government Bond (DR) UCITS ETF - Dist (GOVD.L) has a volatility of 67.11%. This indicates that GGOV.L experiences smaller price fluctuations and is considered to be less risky than GOVD.L 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 | GOVD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.30% | 67.11% | -65.81% |
Volatility (6M)Calculated over the trailing 6-month period | 3.42% | 185.27% | -181.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.66% | 188.61% | -183.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.20% | 84.95% | -76.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.19% | 78.42% | -69.23% |
GGOV.L vs. GOVD.L - Expense Ratio Comparison
GGOV.L has a 0.10% expense ratio, which is higher than GOVD.L's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GGOV.L vs. GOVD.L - Dividend Comparison
GGOV.L has not paid dividends to shareholders, while GOVD.L's dividend yield for the trailing twelve months is around 2.71%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
GGOV.L Amundi Index J.P. Morgan GBI Global Govies | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GOVD.L Lyxor Core Global Government Bond (DR) UCITS ETF - Dist | 2.71% | 1.99% | 5.59% | 2.06% | 1.54% | 1.67% | 0.65% |
Frequently Asked Questions
GGOV.L and GOVD.L have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GOVD.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GOVD.L is cheaper with a 0.09% expense ratio, compared with 0.10% for GGOV.L.
Both ETFs track Bloomberg Global Aggregate TR USD. Their fees differ too: 0.10% for GGOV.L and 0.09% for GOVD.L.
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