GILS.L vs. VGVA.L
GILS.L (Lyxor Core UK Government Bond (DR) UCITS ETF - Dist) and VGVA.L (Vanguard UK Gilt UCITS ETF Accumulating) are both European Government Bonds funds - GILS.L tracks the FTSE Actuaries UK Conventional Gilts All Stocks while VGVA.L tracks the FTSE Act UK Cnvt Gilts All Stocks TR GBP. Both are passively managed. Over the past 5 years, GILS.L returned -6.57%/yr vs -5.38%/yr for VGVA.L. With a 0.98 correlation, they move nearly in lockstep. GILS.L charges 0.05%/yr vs 0.07%/yr for VGVA.L.
Performance
GILS.L vs. VGVA.L - Performance Comparison
Loading charts...
Different Trading Currencies
GILS.L is traded in GBp, while VGVA.L is traded in GBP. To make them comparable, the VGVA.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, GILS.L achieves a -1.35% return, which is significantly higher than VGVA.L's -1.47% return.
GILS.L
- 1D
- -0.60%
- 1M
- 0.61%
- YTD
- -1.35%
- 6M
- -4.24%
- 1Y
- -0.97%
- 3Y*
- -0.50%
- 5Y*
- -6.57%
- 10Y*
- -3.32%
VGVA.L
- 1D
- -0.58%
- 1M
- 1.32%
- YTD
- -1.47%
- 6M
- -1.63%
- 1Y
- 1.86%
- 3Y*
- 1.86%
- 5Y*
- -5.38%
- 10Y*
- —
GILS.L vs. VGVA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GILS.L Lyxor Core UK Government Bond (DR) UCITS ETF - Dist | -1.35% | 1.70% | -5.79% | 1.51% | -25.53% | -6.84% | 5.96% | 2.85% |
VGVA.L Vanguard UK Gilt UCITS ETF Accumulating | -1.47% | 4.03% | -3.61% | 3.26% | -27.03% | -5.38% | 9.36% | 5.93% |
Correlation
The correlation between GILS.L and VGVA.L is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 2019 | 0.98 |
The correlation between GILS.L and VGVA.L has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.
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
GILS.L vs. VGVA.L — Risk / Return Rank
GILS.L
VGVA.L
GILS.L vs. VGVA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lyxor Core UK Government Bond (DR) UCITS ETF - Dist (GILS.L) and Vanguard UK Gilt UCITS ETF Accumulating (VGVA.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.
| GILS.L | VGVA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.46 | ||
| Sortino ratioReturn per unit of downside risk | -0.62 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.06 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.15 | 0.36 | -0.51 |
| Martin ratioReturn relative to average drawdown | -0.35 | 0.97 | -1.32 |
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
| GILS.L | VGVA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.14 | 0.31 | -0.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.65 | -0.48 | -0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.37 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.01 | -0.25 | +0.26 |
Drawdowns
GILS.L vs. VGVA.L - Drawdown Comparison
The maximum GILS.L drawdown since its inception was -38.75%, roughly equal to the maximum VGVA.L drawdown of -39.28%. Use the drawdown chart below to compare losses from any high point for GILS.L and VGVA.L.
Loading charts...
Drawdown Indicators
| GILS.L | VGVA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.75% | -39.28% | +0.53% |
Max Drawdown (1Y)Largest decline over 1 year | -6.23% | -5.75% | -0.48% |
Max Drawdown (3Y)Largest decline over 3 years | -9.33% | -7.88% | -1.45% |
Max Drawdown (5Y)Largest decline over 5 years | -34.64% | -37.05% | +2.41% |
Max Drawdown (10Y)Largest decline over 10 years | -38.75% | — | — |
Current DrawdownCurrent decline from peak | -36.00% | -31.19% | -4.81% |
Average DrawdownAverage peak-to-trough decline | -12.01% | -19.92% | +7.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.77% | 2.12% | +0.65% |
Volatility
GILS.L vs. VGVA.L - Volatility Comparison
The current volatility for Lyxor Core UK Government Bond (DR) UCITS ETF - Dist (GILS.L) is 2.51%, while Vanguard UK Gilt UCITS ETF Accumulating (VGVA.L) has a volatility of 2.93%. This indicates that GILS.L experiences smaller price fluctuations and is considered to be less risky than VGVA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GILS.L | VGVA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.51% | 2.93% | -0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 5.64% | 5.27% | +0.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.67% | 6.54% | +0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.11% | 11.29% | -1.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.06% | 10.86% | -1.80% |
GILS.L vs. VGVA.L - Expense Ratio Comparison
GILS.L has a 0.05% expense ratio, which is lower than VGVA.L's 0.07% 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
GILS.L vs. VGVA.L - Dividend Comparison
Neither GILS.L nor VGVA.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
GILS.L Lyxor Core UK Government Bond (DR) UCITS ETF - Dist | 0.00% | 0.00% | 0.00% | 0.00% | 0.02% | 0.02% | 0.02% | 0.03% | 0.03% | 0.03% | 0.03% |
VGVA.L Vanguard UK Gilt UCITS ETF Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.95, GILS.L and VGVA.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, GILS.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GILS.L is cheaper with a 0.05% expense ratio, compared with 0.07% for VGVA.L.
GILS.L tracks FTSE Actuaries UK Conventional Gilts All Stocks, while VGVA.L tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP. They also come from different issuers: Lyxor and Vanguard. Their fees differ too: 0.05% for GILS.L and 0.07% for VGVA.L.
Find the right allocation for GILS.L and VGVA.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