GLAG.L vs. AGGG.L
GLAG.L (SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged) and AGGG.L (iShares Global Aggregate Bond UCITS Dist) are both Global Bonds funds tracking the Bloomberg Global Aggregate TR USD, from State Street and iShares respectively. Both are passively managed. Over the past 5 years, GLAG.L returned -1.75%/yr vs -1.74%/yr for AGGG.L. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.10% expense ratio.
Performance
GLAG.L vs. AGGG.L - Performance Comparison
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Returns By Period
In the year-to-date period, GLAG.L achieves a 0.02% return, which is significantly higher than AGGG.L's -0.28% return.
GLAG.L
- 1D
- 0.08%
- 1M
- 0.05%
- YTD
- 0.02%
- 6M
- 0.44%
- 1Y
- 2.30%
- 3Y*
- 3.39%
- 5Y*
- -1.75%
- 10Y*
- —
AGGG.L
- 1D
- 0.08%
- 1M
- -0.26%
- YTD
- -0.28%
- 6M
- 0.43%
- 1Y
- 2.20%
- 3Y*
- 3.42%
- 5Y*
- -1.74%
- 10Y*
- —
GLAG.L vs. AGGG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GLAG.L SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged | 0.02% | 7.79% | -1.43% | 5.30% | -16.03% | -5.16% | 9.05% | 5.87% | -3.11% |
AGGG.L iShares Global Aggregate Bond UCITS Dist | -0.28% | 8.06% | -1.44% | 5.27% | -15.93% | -5.32% | 9.37% | 6.85% | -2.36% |
Correlation
The correlation between GLAG.L and AGGG.L is 0.90, 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 | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Jan 31, 2018 | 0.88 |
The correlation between GLAG.L and AGGG.L has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.
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Return for Risk
GLAG.L vs. AGGG.L — Risk / Return Rank
GLAG.L
AGGG.L
GLAG.L vs. AGGG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged (GLAG.L) and iShares Global Aggregate Bond UCITS Dist (AGGG.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.
| GLAG.L | AGGG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.08 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.65 | 0.63 | +0.02 |
| Martin ratioReturn relative to average drawdown | 1.80 | 1.66 | +0.13 |
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
| GLAG.L | AGGG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.46 | 0.43 | +0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.27 | -0.26 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.01 | 0.05 | -0.06 |
Drawdowns
GLAG.L vs. AGGG.L - Drawdown Comparison
The maximum GLAG.L drawdown since its inception was -25.75%, roughly equal to the maximum AGGG.L drawdown of -25.91%. Use the drawdown chart below to compare losses from any high point for GLAG.L and AGGG.L.
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Drawdown Indicators
| GLAG.L | AGGG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.75% | -25.91% | +0.16% |
Max Drawdown (1Y)Largest decline over 1 year | -3.53% | -3.48% | -0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -6.86% | -7.20% | +0.34% |
Max Drawdown (5Y)Largest decline over 5 years | -24.25% | -24.24% | -0.01% |
Current DrawdownCurrent decline from peak | -10.98% | -11.01% | +0.03% |
Average DrawdownAverage peak-to-trough decline | -9.75% | -9.53% | -0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.28% | 1.32% | -0.04% |
Volatility
GLAG.L vs. AGGG.L - Volatility Comparison
SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged (GLAG.L) has a higher volatility of 1.98% compared to iShares Global Aggregate Bond UCITS Dist (AGGG.L) at 1.74%. This indicates that GLAG.L's price experiences larger fluctuations and is considered to be riskier than AGGG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLAG.L | AGGG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.98% | 1.74% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 3.82% | 3.91% | -0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.96% | 5.10% | -0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.50% | 6.81% | -0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.79% | 6.32% | -0.53% |
GLAG.L vs. AGGG.L - Expense Ratio Comparison
Both GLAG.L and AGGG.L have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
GLAG.L vs. AGGG.L - Dividend Comparison
GLAG.L's dividend yield for the trailing twelve months is around 3.15%, which matches AGGG.L's 3.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
AGGG.L iShares Global Aggregate Bond UCITS Dist | 3.16% | 2.97% | 2.74% | 2.01% | 1.55% | 1.33% | 1.46% | 1.62% | 0.96% |
GLAG.L SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged | 3.15% | 3.00% | 2.80% | 2.02% | 1.48% | 1.24% | 1.47% | 0.84% | 0.00% |
Frequently Asked Questions
GLAG.L and AGGG.L have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.10% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
GLAG.L and AGGG.L have the same expense ratio: 0.10% per year.
Both ETFs track Bloomberg Global Aggregate TR USD. They also come from different issuers: State Street and iShares.
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