GGOV.L vs. SGLO.L
GGOV.L (Amundi Index J.P. Morgan GBI Global Govies) and SGLO.L (iShares Global Government Bond UCITS ETF USD (Dist)) are both Global Bonds funds tracking the Bloomberg Global Aggregate TR USD, from Amundi and iShares respectively. Both are passively managed. Over the past 5 years, GGOV.L returned -2.30%/yr vs -1.81%/yr for SGLO.L. A 0.70 correlation means they provide meaningful diversification when combined. GGOV.L charges 0.10%/yr vs 0.20%/yr for SGLO.L.
Performance
GGOV.L vs. SGLO.L - Performance Comparison
Loading charts...
Different Trading Currencies
GGOV.L is traded in GBp, while SGLO.L is traded in GBP. To make them comparable, the SGLO.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 lower than SGLO.L's -0.79% 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*
- —
SGLO.L
- 1D
- -0.11%
- 1M
- 0.63%
- YTD
- -0.79%
- 6M
- -1.43%
- 1Y
- 1.93%
- 3Y*
- -0.41%
- 5Y*
- -1.81%
- 10Y*
- 0.35%
GGOV.L vs. SGLO.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GGOV.L Amundi Index J.P. Morgan GBI Global Govies | -1.07% | -1.06% | -1.97% | -1.94% | -7.40% | -5.91% | 6.13% | -8.77% |
SGLO.L iShares Global Government Bond UCITS ETF USD (Dist) | -0.79% | 0.31% | -1.33% | -1.35% | -7.72% | -5.44% | 5.97% | -8.77% |
Correlation
The correlation between GGOV.L and SGLO.L is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2019 | 0.71 |
Over the past year, GGOV.L and SGLO.L have become more correlated (0.92) than their long-term average of 0.70, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GGOV.L vs. SGLO.L — Risk / Return Rank
GGOV.L
SGLO.L
GGOV.L vs. SGLO.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 iShares Global Government Bond UCITS ETF USD (Dist) (SGLO.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 | SGLO.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | -0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.07 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.12 | 0.45 | -0.33 |
| Martin ratioReturn relative to average drawdown | 0.23 | 0.90 | -0.67 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| GGOV.L | SGLO.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.12 | 0.37 | -0.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.37 | -0.24 | -0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.04 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.52 | 0.19 | -0.70 |
Drawdowns
GGOV.L vs. SGLO.L - Drawdown Comparison
The maximum GGOV.L drawdown since its inception was -25.96%, roughly equal to the maximum SGLO.L drawdown of -25.55%. Use the drawdown chart below to compare losses from any high point for GGOV.L and SGLO.L.
Loading charts...
Drawdown Indicators
| GGOV.L | SGLO.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.96% | -25.55% | -0.41% |
Max Drawdown (1Y)Largest decline over 1 year | -4.67% | -4.26% | -0.41% |
Max Drawdown (3Y)Largest decline over 3 years | -5.70% | -5.41% | -0.29% |
Max Drawdown (5Y)Largest decline over 5 years | -16.68% | -16.48% | -0.20% |
Max Drawdown (10Y)Largest decline over 10 years | — | -25.55% | — |
Current DrawdownCurrent decline from peak | -24.91% | -22.83% | -2.08% |
Average DrawdownAverage peak-to-trough decline | -18.42% | -10.09% | -8.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.45% | 2.14% | +0.31% |
Volatility
GGOV.L vs. SGLO.L - Volatility Comparison
Amundi Index J.P. Morgan GBI Global Govies (GGOV.L) and iShares Global Government Bond UCITS ETF USD (Dist) (SGLO.L) have volatilities of 1.30% and 1.24%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GGOV.L | SGLO.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.30% | 1.24% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.42% | 3.88% | -0.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.66% | 5.24% | -0.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.20% | 7.47% | +0.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.19% | 8.77% | +0.42% |
GGOV.L vs. SGLO.L - Expense Ratio Comparison
GGOV.L has a 0.10% expense ratio, which is lower than SGLO.L's 0.20% expense ratio. Despite the difference, 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. SGLO.L - Dividend Comparison
GGOV.L has not paid dividends to shareholders, while SGLO.L's dividend yield for the trailing twelve months is around 4.16%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GGOV.L Amundi Index J.P. Morgan GBI Global Govies | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SGLO.L iShares Global Government Bond UCITS ETF USD (Dist) | 4.16% | 3.86% | 3.15% | 1.87% | 0.95% | 0.85% | 1.35% | 1.60% | 1.37% | 1.26% | 1.34% | 0.89% |
Frequently Asked Questions
With a correlation of 0.92, GGOV.L and SGLO.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, GGOV.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GGOV.L is cheaper with a 0.10% expense ratio, compared with 0.20% for SGLO.L.
Both ETFs track Bloomberg Global Aggregate TR USD. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.10% for GGOV.L and 0.20% for SGLO.L.
Find the right allocation for GGOV.L and SGLO.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer