GLAU.L vs. AGBP.L
GLAU.L (SPDR Bloomberg Global Aggregate Bond UCITS ETF USD Hedged) and AGBP.L (iShares Core Global Aggregate Bond UCITS ETF GBP Hedged (Dist)) are both Global Bonds funds - GLAU.L tracks the Bloomberg Global Aggregate TR Hdg USD while AGBP.L tracks the Bloomberg Global Aggregate TR Hdg GBP. Both are passively managed. Over the past 5 years, GLAU.L returned 0.73%/yr vs -0.95%/yr for AGBP.L. At a 0.22 correlation, their price movements are largely independent. Both charge a 0.10% expense ratio.
Performance
GLAU.L vs. AGBP.L - Performance Comparison
Loading charts...
Different Trading Currencies
GLAU.L is traded in USD, while AGBP.L is traded in GBP. To make them comparable, the AGBP.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, GLAU.L achieves a 0.41% return, which is significantly higher than AGBP.L's 0.18% return.
GLAU.L
- 1D
- 0.25%
- 1M
- 0.56%
- YTD
- 0.41%
- 6M
- 0.72%
- 1Y
- 3.45%
- 3Y*
- 4.27%
- 5Y*
- 0.73%
- 10Y*
- —
AGBP.L
- 1D
- 0.20%
- 1M
- -0.40%
- YTD
- 0.18%
- 6M
- 1.38%
- 1Y
- 2.15%
- 3Y*
- 6.59%
- 5Y*
- -0.95%
- 10Y*
- —
GLAU.L vs. AGBP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GLAU.L SPDR Bloomberg Global Aggregate Bond UCITS ETF USD Hedged | 0.41% | 4.62% | 3.58% | 6.07% | -11.13% | -1.01% | 5.46% | 7.95% | 1.58% |
AGBP.L iShares Core Global Aggregate Bond UCITS ETF GBP Hedged (Dist) | 0.18% | 12.39% | 1.43% | 11.25% | -21.72% | -2.75% | 7.34% | 10.73% | -2.11% |
Correlation
The correlation between GLAU.L and AGBP.L is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2018 | 0.22 |
Over the past year, GLAU.L and AGBP.L have become more correlated (0.44) than their long-term average of 0.22, 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
GLAU.L vs. AGBP.L — Risk / Return Rank
GLAU.L
AGBP.L
GLAU.L vs. AGBP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Global Aggregate Bond UCITS ETF USD Hedged (GLAU.L) and iShares Core Global Aggregate Bond UCITS ETF GBP Hedged (Dist) (AGBP.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.
| GLAU.L | AGBP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.02 | ||
| Sortino ratioReturn per unit of downside risk | +1.46 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.05 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.95 | 0.40 | +1.54 |
| Martin ratioReturn relative to average drawdown | 5.07 | 0.92 | +4.15 |
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
| GLAU.L | AGBP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.28 | 0.26 | +1.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | -0.09 | +0.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.83 | 0.11 | +0.73 |
Drawdowns
GLAU.L vs. AGBP.L - Drawdown Comparison
The maximum GLAU.L drawdown since its inception was -14.72%, smaller than the maximum AGBP.L drawdown of -34.64%. Use the drawdown chart below to compare losses from any high point for GLAU.L and AGBP.L.
Loading charts...
Drawdown Indicators
| GLAU.L | AGBP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.72% | -34.64% | +19.92% |
Max Drawdown (1Y)Largest decline over 1 year | -2.36% | -5.30% | +2.94% |
Max Drawdown (3Y)Largest decline over 3 years | -3.11% | -11.13% | +8.02% |
Max Drawdown (5Y)Largest decline over 5 years | -14.58% | -34.64% | +20.06% |
Current DrawdownCurrent decline from peak | -1.01% | -5.07% | +4.06% |
Average DrawdownAverage peak-to-trough decline | -3.48% | -10.28% | +6.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 2.34% | -1.50% |
Volatility
GLAU.L vs. AGBP.L - Volatility Comparison
The current volatility for SPDR Bloomberg Global Aggregate Bond UCITS ETF USD Hedged (GLAU.L) is 1.56%, while iShares Core Global Aggregate Bond UCITS ETF GBP Hedged (Dist) (AGBP.L) has a volatility of 2.68%. This indicates that GLAU.L experiences smaller price fluctuations and is considered to be less risky than AGBP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GLAU.L | AGBP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.56% | 2.68% | -1.12% |
Volatility (6M)Calculated over the trailing 6-month period | 2.72% | 6.16% | -3.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.61% | 8.22% | -4.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.86% | 10.69% | -3.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.03% | 10.30% | -3.27% |
GLAU.L vs. AGBP.L - Expense Ratio Comparison
Both GLAU.L and AGBP.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
GLAU.L vs. AGBP.L - Dividend Comparison
GLAU.L's dividend yield for the trailing twelve months is around 3.15%, which matches AGBP.L's 3.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
AGBP.L iShares Core Global Aggregate Bond UCITS ETF GBP Hedged (Dist) | 3.12% | 3.00% | 2.59% | 1.97% | 1.56% | 1.27% | 1.53% | 1.65% | 0.98% |
GLAU.L SPDR Bloomberg Global Aggregate Bond UCITS ETF USD Hedged | 3.15% | 3.02% | 2.71% | 2.02% | 1.40% | 1.21% | 1.51% | 1.25% | 0.89% |
Frequently Asked Questions
GLAU.L and AGBP.L have a correlation of 0.44, 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.
GLAU.L and AGBP.L have the same expense ratio: 0.10% per year.
GLAU.L tracks Bloomberg Global Aggregate TR Hdg USD, while AGBP.L tracks Bloomberg Global Aggregate TR Hdg GBP. They also come from different issuers: State Street and iShares.
Find the right allocation for GLAU.L and AGBP.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