GOVD.L vs. AGGG.L
GOVD.L (Lyxor Core Global Government Bond (DR) UCITS ETF - Dist) and AGGG.L (iShares Global Aggregate Bond UCITS Dist) are both Global Bonds funds tracking the Bloomberg Global Aggregate TR USD, from Amundi and iShares respectively. Both are passively managed. Over the past 5 years, GOVD.L returned -1.56%/yr vs -0.68%/yr for AGGG.L. A 0.66 correlation means they provide meaningful diversification when combined. GOVD.L charges 0.09%/yr vs 0.10%/yr for AGGG.L.
Performance
GOVD.L vs. AGGG.L - Performance Comparison
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Different Trading Currencies
GOVD.L is traded in GBP, while AGGG.L is traded in USD. To make them comparable, the AGGG.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, GOVD.L achieves a -26.36% return, which is significantly lower than AGGG.L's 0.12% return.
GOVD.L
- 1D
- 0.09%
- 1M
- -25.74%
- YTD
- -26.36%
- 6M
- -2.20%
- 1Y
- 0.47%
- 3Y*
- 0.21%
- 5Y*
- -1.56%
- 10Y*
- —
AGGG.L
- 1D
- 0.08%
- 1M
- 0.65%
- YTD
- 0.12%
- 6M
- -0.26%
- 1Y
- 3.19%
- 3Y*
- 0.83%
- 5Y*
- -0.68%
- 10Y*
- —
GOVD.L vs. AGGG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GOVD.L Lyxor Core Global Government Bond (DR) UCITS ETF - Dist | -26.36% | 33.30% | 1.30% | -0.61% | -8.32% | -5.61% | -4.31% |
AGGG.L iShares Global Aggregate Bond UCITS Dist | 0.12% | 0.36% | 0.28% | 0.01% | -5.93% | -4.42% | -3.64% |
Correlation
The correlation between GOVD.L and AGGG.L is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2020 | 0.66 |
Over the past year, the correlation between GOVD.L and AGGG.L has dropped to 0.41 - well below their long-term average of 0.66, suggesting their price drivers have been diverging.
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Return for Risk
GOVD.L vs. AGGG.L — Risk / Return Rank
GOVD.L
AGGG.L
GOVD.L vs. AGGG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lyxor Core Global Government Bond (DR) UCITS ETF - Dist (GOVD.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.
| GOVD.L | AGGG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.54 | ||
| Sortino ratioReturn per unit of downside risk | +0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.10 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.02 | 0.75 | -0.73 |
| Martin ratioReturn relative to average drawdown | 0.03 | 1.62 | -1.59 |
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
| GOVD.L | AGGG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.00 | 0.54 | -0.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.02 | -0.09 | +0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.04 | 0.03 | -0.07 |
Drawdowns
GOVD.L vs. AGGG.L - Drawdown Comparison
The maximum GOVD.L drawdown since its inception was -28.26%, which is greater than AGGG.L's maximum drawdown of -19.27%. Use the drawdown chart below to compare losses from any high point for GOVD.L and AGGG.L.
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Drawdown Indicators
| GOVD.L | AGGG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.26% | -19.27% | -8.99% |
Max Drawdown (1Y)Largest decline over 1 year | -28.26% | -4.24% | -24.02% |
Max Drawdown (3Y)Largest decline over 3 years | -28.26% | -5.58% | -22.68% |
Max Drawdown (5Y)Largest decline over 5 years | -28.26% | -14.34% | -13.92% |
Current DrawdownCurrent decline from peak | -27.56% | -13.22% | -14.34% |
Average DrawdownAverage peak-to-trough decline | -14.81% | -9.35% | -5.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.71% | 1.96% | +12.75% |
Volatility
GOVD.L vs. AGGG.L - Volatility Comparison
Lyxor Core Global Government Bond (DR) UCITS ETF - Dist (GOVD.L) has a higher volatility of 79.65% compared to iShares Global Aggregate Bond UCITS Dist (AGGG.L) at 1.68%. This indicates that GOVD.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
| GOVD.L | AGGG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 79.65% | 1.68% | +77.97% |
Volatility (6M)Calculated over the trailing 6-month period | 189.97% | 4.74% | +185.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 193.34% | 5.84% | +187.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 87.07% | 7.71% | +79.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 80.35% | 8.33% | +72.02% |
GOVD.L vs. AGGG.L - Expense Ratio Comparison
GOVD.L has a 0.09% expense ratio, which is lower than AGGG.L's 0.10% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GOVD.L vs. AGGG.L - Dividend Comparison
GOVD.L's dividend yield for the trailing twelve months is around 2.71%, less than 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% |
GOVD.L Lyxor Core Global Government Bond (DR) UCITS ETF - Dist | 2.71% | 1.99% | 5.59% | 2.06% | 1.54% | 1.67% | 0.65% | 0.00% | 0.00% |
Frequently Asked Questions
GOVD.L and AGGG.L have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GOVD.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GOVD.L is cheaper with a 0.09% expense ratio, compared with 0.10% for AGGG.L.
Both ETFs track Bloomberg Global Aggregate TR USD. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.09% for GOVD.L and 0.10% for AGGG.L.
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