GIN.L vs. V3AM.L

Last updated Jun 5, 2026

GIN.L (SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF Dist) and V3AM.L (Vanguard ESG Global All Cap UCITS ETF (USD) Distributing) are both exchange-traded funds - GIN.L is a Diversified Portfolio fund tracking the Morningstar EAA USD Mod Tgt Alloc NR USD, while V3AM.L is a Global Equities fund tracking the MSCI ACWI NR USD. Both are passively managed. Over the past 5 years, GIN.L returned 2.26%/yr vs 11.49%/yr for V3AM.L. At a 0.37 correlation, their price movements are largely independent. GIN.L charges 0.40%/yr vs 0.24%/yr for V3AM.L.

Performance

GIN.L vs. V3AM.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF Dist (GIN.L) and Vanguard ESG Global All Cap UCITS ETF (USD) Distributing (V3AM.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GIN.L achieves a 2.94% return, which is significantly lower than V3AM.L's 12.15% return.

GIN.L

• 1D: -0.07%
• 1M: -0.53%
• YTD: 2.94%
• 6M: 2.23%
• 1Y: 8.48%
• 3Y*: 3.96%
• 5Y*: 2.26%
• 10Y*: 33.49%

V3AM.L

• 1D: 0.02%
• 1M: 6.38%
• YTD: 12.15%
• 6M: 12.78%
• 1Y: 30.64%
• 3Y*: 17.82%
• 5Y*: 11.49%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

GIN.L vs. V3AM.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GIN.L SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF Dist	2.94%	3.55%	2.09%	1.50%	-3.30%	1,069.55%
V3AM.L Vanguard ESG Global All Cap UCITS ETF (USD) Distributing	12.15%	12.40%	19.59%	18.06%	-13.39%	17.05%

Correlation

The correlation between GIN.L and V3AM.L is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (All Time) Calculated using the full available price history since Mar 26, 2021	0.37

The correlation between GIN.L and V3AM.L shifts across timeframes, from 0.22 (1 year) to 0.37 (all time), reflecting how their relationship changes across market environments.

GIN.L vs. V3AM.L - Sectors Allocation Comparison

Sectors	GIN.L	V3AM.L
Utilities	41.4%	0.4%
Industrials	38.1%	6.4%
Energy	12.1%	0.0%
Healthcare	3.9%	9.7%
Real Estate	2.9%	3.0%
Communication Services	1.1%	10.0%
Technology	0.3%	33.9%
Consumer Cyclical	0.2%	11.2%
Financial Services	0.1%	17.7%
Consumer Defensive	0.0%	4.4%
Basic Materials	0.0%	3.4%

Return for Risk

GIN.L vs. V3AM.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GIN.L

GIN.L Risk / Return Rank: 31
GIN.L Sharpe Ratio Rank: 29
GIN.L Sortino Ratio Rank: 28
GIN.L Omega Ratio Rank: 28
GIN.L Calmar Ratio Rank: 38
GIN.L Martin Ratio Rank: 30

V3AM.L

V3AM.L Risk / Return Rank: 81
V3AM.L Sharpe Ratio Rank: 83
V3AM.L Sortino Ratio Rank: 84
V3AM.L Omega Ratio Rank: 85
V3AM.L Calmar Ratio Rank: 75
V3AM.L Martin Ratio Rank: 79

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GIN.L vs. V3AM.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF Dist (GIN.L) and Vanguard ESG Global All Cap UCITS ETF (USD) Distributing (V3AM.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.

	GIN.L	V3AM.L	Difference
Sharpe ratio: Return per unit of total volatility	1.04	2.67	-1.64
Sortino ratio: Return per unit of downside risk	1.50	3.73	-2.23
Omega ratio: Gain probability vs. loss probability	1.19	1.50	-0.32
Calmar ratio: Return relative to maximum drawdown	1.88	3.73	-1.85
Martin ratio: Return relative to average drawdown	4.27	15.11	-10.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GIN.L vs. V3AM.L - Sharpe Ratio Comparison

The current GIN.L Sharpe Ratio is 1.04, which is lower than the V3AM.L Sharpe Ratio of 2.67. The chart below compares the historical Sharpe Ratios of GIN.L and V3AM.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GIN.L	V3AM.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.04	2.67	-1.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	0.84	-0.61
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.11	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	0.89	-0.78

Drawdowns

GIN.L vs. V3AM.L - Drawdown Comparison

The maximum GIN.L drawdown since its inception was -15.71%, smaller than the maximum V3AM.L drawdown of -19.25%. Use the drawdown chart below to compare losses from any high point for GIN.L and V3AM.L.

Drawdown Indicators

	GIN.L	V3AM.L	Difference
Max Drawdown Largest peak-to-trough decline	-15.71%	-19.25%	+3.54%
Max Drawdown (1Y) Largest decline over 1 year	-4.51%	-8.18%	+3.67%
Max Drawdown (3Y) Largest decline over 3 years	-7.63%	-19.25%	+11.62%
Max Drawdown (5Y) Largest decline over 5 years	-12.40%	-19.25%	+6.85%
Max Drawdown (10Y) Largest decline over 10 years	-15.71%	—	—
Current Drawdown Current decline from peak	-3.83%	-0.57%	-3.26%
Average Drawdown Average peak-to-trough decline	-3.87%	-4.85%	+0.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	2.02%	-0.04%

Volatility

GIN.L vs. V3AM.L - Volatility Comparison

The current volatility for SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF Dist (GIN.L) is 1.91%, while Vanguard ESG Global All Cap UCITS ETF (USD) Distributing (V3AM.L) has a volatility of 3.51%. This indicates that GIN.L experiences smaller price fluctuations and is considered to be less risky than V3AM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GIN.L	V3AM.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.91%	3.51%	-1.60%
Volatility (6M) Calculated over the trailing 6-month period	6.15%	8.67%	-2.52%
Volatility (1Y) Calculated over the trailing 1-year period	8.14%	11.41%	-3.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.56%	13.65%	-4.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	311.49%	13.59%	+297.90%

GIN.L vs. V3AM.L - Expense Ratio Comparison

GIN.L has a 0.40% expense ratio, which is higher than V3AM.L's 0.24% expense ratio.

Dividends

GIN.L vs. V3AM.L - Dividend Comparison

GIN.L has not paid dividends to shareholders, while V3AM.L's dividend yield for the trailing twelve months is around 1.09%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GIN.L SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF Dist	0.00%	0.00%	0.00%	2.80%	2.47%	87.32%	2.23%	2.37%	2.16%	2.30%	2.17%	1.81%
V3AM.L Vanguard ESG Global All Cap UCITS ETF (USD) Distributing	1.09%	1.23%	1.28%	1.45%	1.70%	0.92%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GIN.L and V3AM.L in my portfolio?

GIN.L and V3AM.L have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GIN.L or V3AM.L?

On fees, V3AM.L is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GIN.L or V3AM.L?

V3AM.L is cheaper with a 0.24% expense ratio, compared with 0.40% for GIN.L.

What is the main difference between GIN.L and V3AM.L?

GIN.L is categorized as Diversified Portfolio, while V3AM.L is Global Equities. GIN.L tracks Morningstar EAA USD Mod Tgt Alloc NR USD, while V3AM.L tracks MSCI ACWI NR USD. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.40% for GIN.L and 0.24% for V3AM.L.