GLAU.L vs. VAGU.L

Last updated Jun 5, 2026

GLAU.L (SPDR Bloomberg Global Aggregate Bond UCITS ETF USD Hedged) and VAGU.L (Vanguard Global Aggregate Bond UCITS ETF USD Hedged Accumulating) are both Global Bonds funds tracking the Bloomberg Global Aggregate TR Hdg USD, from State Street and Vanguard respectively. Both are passively managed. Over the past 5 years, GLAU.L returned 0.73%/yr vs 0.31%/yr for VAGU.L. At a 0.38 correlation, their price movements are largely independent. Both charge a 0.10% expense ratio.

Performance

GLAU.L vs. VAGU.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Bloomberg Global Aggregate Bond UCITS ETF USD Hedged (GLAU.L) and Vanguard Global Aggregate Bond UCITS ETF USD Hedged Accumulating (VAGU.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with GLAU.L at 0.41% and VAGU.L at 0.41%.

GLAU.L

• 1D: 0.25%
• 1M: 0.56%
• YTD: 0.41%
• 6M: 0.72%
• 1Y: 3.45%
• 3Y*: 4.27%
• 5Y*: 0.73%
• 10Y*: —

VAGU.L

• 1D: 0.20%
• 1M: 0.56%
• YTD: 0.41%
• 6M: 0.60%
• 1Y: 3.42%
• 3Y*: 4.10%
• 5Y*: 0.31%
• 10Y*: —

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

GLAU.L vs. VAGU.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
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%	2.36%
VAGU.L Vanguard Global Aggregate Bond UCITS ETF USD Hedged Accumulating	0.41%	4.94%	2.73%	6.90%	-12.61%	-2.00%	5.90%	2.39%

Correlation

The correlation between GLAU.L and VAGU.L is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (All Time) Calculated using the full available price history since Jun 21, 2019	0.38

Over the past year, GLAU.L and VAGU.L have become more correlated (0.63) than their long-term average of 0.38, meaning their price movements have been converging.

GLAU.L vs. VAGU.L - Sectors Allocation Comparison

Sectors	GLAU.L	VAGU.L
Financial Services	4.5%	100.0%
Communication Services	0.9%	-
Healthcare	0.8%	-
Consumer Cyclical	0.7%	-
Energy	0.7%	-
Utilities	0.6%	-
Industrials	0.6%	-
Consumer Defensive	0.6%	-
Technology	0.5%	-
Real Estate	0.3%	-
Basic Materials	0.2%	-

Return for Risk

GLAU.L vs. VAGU.L — Risk / Return Rank

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

GLAU.L

GLAU.L Risk / Return Rank: 37
GLAU.L Sharpe Ratio Rank: 36
GLAU.L Sortino Ratio Rank: 37
GLAU.L Omega Ratio Rank: 36
GLAU.L Calmar Ratio Rank: 40
GLAU.L Martin Ratio Rank: 34

VAGU.L

VAGU.L Risk / Return Rank: 27
VAGU.L Sharpe Ratio Rank: 28
VAGU.L Sortino Ratio Rank: 28
VAGU.L Omega Ratio Rank: 26
VAGU.L Calmar Ratio Rank: 27
VAGU.L Martin Ratio Rank: 26

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.

GLAU.L vs. VAGU.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 Vanguard Global Aggregate Bond UCITS ETF USD Hedged Accumulating (VAGU.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	VAGU.L	Difference
Sharpe ratio: Return per unit of total volatility	1.28	0.97	+0.31
Sortino ratio: Return per unit of downside risk	1.89	1.49	+0.41
Omega ratio: Gain probability vs. loss probability	1.23	1.17	+0.06
Calmar ratio: Return relative to maximum drawdown	1.95	1.26	+0.68
Martin ratio: Return relative to average drawdown	5.07	3.55	+1.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GLAU.L vs. VAGU.L - Sharpe Ratio Comparison

The current GLAU.L Sharpe Ratio is 1.28, which is higher than the VAGU.L Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of GLAU.L and VAGU.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

	GLAU.L	VAGU.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.28	0.97	+0.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	0.06	+0.18
Sharpe Ratio (All Time) Calculated using the full available price history	0.83	0.22	+0.61

Drawdowns

GLAU.L vs. VAGU.L - Drawdown Comparison

The maximum GLAU.L drawdown since its inception was -14.72%, smaller than the maximum VAGU.L drawdown of -17.42%. Use the drawdown chart below to compare losses from any high point for GLAU.L and VAGU.L.

Drawdown Indicators

	GLAU.L	VAGU.L	Difference
Max Drawdown Largest peak-to-trough decline	-14.72%	-17.42%	+2.70%
Max Drawdown (1Y) Largest decline over 1 year	-2.36%	-2.70%	+0.34%
Max Drawdown (3Y) Largest decline over 3 years	-3.11%	-3.84%	+0.73%
Max Drawdown (5Y) Largest decline over 5 years	-14.58%	-17.10%	+2.52%
Current Drawdown Current decline from peak	-1.01%	-1.33%	+0.32%
Average Drawdown Average peak-to-trough decline	-3.48%	-5.53%	+2.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.84%	0.96%	-0.12%

Volatility

GLAU.L vs. VAGU.L - Volatility Comparison

SPDR Bloomberg Global Aggregate Bond UCITS ETF USD Hedged (GLAU.L) has a higher volatility of 1.56% compared to Vanguard Global Aggregate Bond UCITS ETF USD Hedged Accumulating (VAGU.L) at 1.41%. This indicates that GLAU.L's price experiences larger fluctuations and is considered to be riskier than VAGU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLAU.L	VAGU.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.56%	1.41%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	2.72%	2.76%	-0.04%
Volatility (1Y) Calculated over the trailing 1-year period	3.61%	3.53%	+0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.86%	5.10%	+1.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.03%	4.73%	+2.30%

GLAU.L vs. VAGU.L - Expense Ratio Comparison

Both GLAU.L and VAGU.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. VAGU.L - Dividend Comparison

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

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
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%
VAGU.L Vanguard Global Aggregate Bond UCITS ETF USD Hedged Accumulating	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GLAU.L and VAGU.L in my portfolio?

GLAU.L and VAGU.L have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GLAU.L or VAGU.L?

Both ETFs have the same 0.10% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GLAU.L or VAGU.L?

GLAU.L and VAGU.L have the same expense ratio: 0.10% per year.

What is the main difference between GLAU.L and VAGU.L?

Both ETFs track Bloomberg Global Aggregate TR Hdg USD. They also come from different issuers: State Street and Vanguard.