GLAG.L vs. SPYL.L

Last updated Jun 5, 2026

GLAG.L (SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged) and SPYL.L (SPDR S&P 500 UCITS ETF USD Acc) are both exchange-traded funds - GLAG.L is a Global Bonds fund tracking the Bloomberg Global Aggregate TR USD, while SPYL.L is a S&P 500 fund tracking the S&P 500. Both are passively managed. Over the past year, GLAG.L returned 2.30% vs 27.88% for SPYL.L. At a 0.23 correlation, their price movements are largely independent. GLAG.L charges 0.10%/yr vs 0.03%/yr for SPYL.L.

Performance

GLAG.L vs. SPYL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged (GLAG.L) and SPDR S&P 500 UCITS ETF USD Acc (SPYL.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GLAG.L achieves a 0.02% return, which is significantly lower than SPYL.L's 10.35% 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*: —

SPYL.L

• 1D: 0.02%
• 1M: 4.53%
• YTD: 10.35%
• 6M: 11.11%
• 1Y: 27.88%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GLAG.L vs. SPYL.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GLAG.L SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged	0.02%	7.79%	-1.43%	9.26%
SPYL.L SPDR S&P 500 UCITS ETF USD Acc	10.35%	17.39%	25.33%	14.46%

Correlation

The correlation between GLAG.L and SPYL.L is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (All Time) Calculated using the full available price history since Nov 1, 2023	0.23

The correlation between GLAG.L and SPYL.L shifts across timeframes, from 0.23 (all time) to 0.36 (1 year), reflecting how their relationship changes across market environments.

GLAG.L vs. SPYL.L - Sectors Allocation Comparison

Sectors	GLAG.L	SPYL.L
Financial Services	13.0%	11.8%
Energy	2.1%	3.5%
Communication Services	2.1%	11.2%
Industrials	1.6%	8.3%
Technology	1.6%	35.6%
Healthcare	1.5%	8.5%
Utilities	1.4%	2.3%
Consumer Cyclical	1.3%	10.1%
Consumer Defensive	1.3%	4.9%
Basic Materials	0.2%	1.8%
Real Estate	0.2%	1.9%

Return for Risk

GLAG.L vs. SPYL.L — Risk / Return Rank

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

GLAG.L

GLAG.L Risk / Return Rank: 16
GLAG.L Sharpe Ratio Rank: 16
GLAG.L Sortino Ratio Rank: 16
GLAG.L Omega Ratio Rank: 15
GLAG.L Calmar Ratio Rank: 17
GLAG.L Martin Ratio Rank: 18

SPYL.L

SPYL.L Risk / Return Rank: 74
SPYL.L Sharpe Ratio Rank: 74
SPYL.L Sortino Ratio Rank: 79
SPYL.L Omega Ratio Rank: 73
SPYL.L Calmar Ratio Rank: 68
SPYL.L Martin Ratio Rank: 77

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.

GLAG.L vs. SPYL.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 SPDR S&P 500 UCITS ETF USD Acc (SPYL.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	SPYL.L	Difference
Sharpe ratio: Return per unit of total volatility	0.46	2.36	-1.90
Sortino ratio: Return per unit of downside risk	0.73	3.47	-2.75
Omega ratio: Gain probability vs. loss probability	1.08	1.43	-0.35
Calmar ratio: Return relative to maximum drawdown	0.65	3.37	-2.72
Martin ratio: Return relative to average drawdown	1.80	14.52	-12.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GLAG.L vs. SPYL.L - Sharpe Ratio Comparison

The current GLAG.L Sharpe Ratio is 0.46, which is lower than the SPYL.L Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of GLAG.L and SPYL.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

	GLAG.L	SPYL.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.46	2.36	-1.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.27	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	1.91	-1.91

Drawdowns

GLAG.L vs. SPYL.L - Drawdown Comparison

The maximum GLAG.L drawdown since its inception was -25.75%, which is greater than SPYL.L's maximum drawdown of -18.42%. Use the drawdown chart below to compare losses from any high point for GLAG.L and SPYL.L.

Drawdown Indicators

	GLAG.L	SPYL.L	Difference
Max Drawdown Largest peak-to-trough decline	-25.75%	-18.42%	-7.33%
Max Drawdown (1Y) Largest decline over 1 year	-3.53%	-8.13%	+4.60%
Max Drawdown (3Y) Largest decline over 3 years	-6.86%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-24.25%	—	—
Current Drawdown Current decline from peak	-10.98%	-0.52%	-10.46%
Average Drawdown Average peak-to-trough decline	-9.75%	-1.76%	-7.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.28%	1.90%	-0.62%

Volatility

GLAG.L vs. SPYL.L - Volatility Comparison

The current volatility for SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged (GLAG.L) is 1.98%, while SPDR S&P 500 UCITS ETF USD Acc (SPYL.L) has a volatility of 3.12%. This indicates that GLAG.L experiences smaller price fluctuations and is considered to be less risky than SPYL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLAG.L	SPYL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.98%	3.12%	-1.14%
Volatility (6M) Calculated over the trailing 6-month period	3.82%	8.61%	-4.79%
Volatility (1Y) Calculated over the trailing 1-year period	4.96%	11.59%	-6.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.50%	13.96%	-7.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.79%	13.96%	-8.17%

GLAG.L vs. SPYL.L - Expense Ratio Comparison

GLAG.L has a 0.10% expense ratio, which is higher than SPYL.L's 0.03% 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

GLAG.L vs. SPYL.L - Dividend Comparison

GLAG.L's dividend yield for the trailing twelve months is around 3.15%, while SPYL.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
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%
SPYL.L SPDR S&P 500 UCITS ETF USD Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GLAG.L and SPYL.L in my portfolio?

GLAG.L and SPYL.L have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GLAG.L or SPYL.L?

On fees, SPYL.L is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GLAG.L or SPYL.L?

SPYL.L is cheaper with a 0.03% expense ratio, compared with 0.10% for GLAG.L.

What is the main difference between GLAG.L and SPYL.L?

GLAG.L is categorized as Global Bonds, while SPYL.L is S&P 500. GLAG.L tracks Bloomberg Global Aggregate TR USD, while SPYL.L tracks S&P 500. Their fees differ too: 0.10% for GLAG.L and 0.03% for SPYL.L.