GOVG.L vs. ACWL.L

Last updated Apr 2, 2026

Compare and contrast key facts about Amundi Index J.P. Morgan GBI Global Govies UCITS ETF DR Hedged GBP (D) (GOVG.L) and Lyxor MSCI All Country World UCITS ETF (ACWL.L).

GOVG.L and ACWL.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GOVG.L is a passively managed fund by Amundi that tracks the performance of the Bloomberg Global Aggregate TR Hdg GBP. It was launched on Jul 13, 2021. ACWL.L is a passively managed fund by Amundi that tracks the performance of the MSCI ACWI NR USD. It was launched on Nov 8, 2018. Both GOVG.L and ACWL.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

GOVG.L vs. ACWL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Amundi Index J.P. Morgan GBI Global Govies UCITS ETF DR Hedged GBP (D) (GOVG.L) and Lyxor MSCI All Country World UCITS ETF (ACWL.L). The values are adjusted to include any dividend payments, if applicable.

GOVG.L vs. ACWL.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GOVG.L Amundi Index J.P. Morgan GBI Global Govies UCITS ETF DR Hedged GBP (D)	-0.09%	0.76%	-0.52%	2.69%	-14.37%	-0.98%
ACWL.L Lyxor MSCI All Country World UCITS ETF	-0.17%	13.63%	21.43%	13.09%	-8.59%	7.70%

Returns By Period

In the year-to-date period, GOVG.L achieves a -0.09% return, which is significantly higher than ACWL.L's -0.17% return.

GOVG.L

• 1D: 0.18%
• 1M: -1.46%
• YTD: -0.09%
• 6M: -2.18%
• 1Y: -0.48%
• 3Y*: 0.06%
• 5Y*: —
• 10Y*: —

ACWL.L

• 1D: 2.09%
• 1M: -3.67%
• YTD: -0.17%
• 6M: 3.09%
• 1Y: 17.97%
• 3Y*: 14.77%
• 5Y*: 10.93%
• 10Y*: 12.14%

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

GOVG.L vs. ACWL.L - Expense Ratio Comparison

GOVG.L has a 0.15% expense ratio, which is lower than ACWL.L's 0.45% expense ratio.

ACWL.L

Lyxor MSCI All Country World UCITS ETF

GOVG.L

Amundi Index J.P. Morgan GBI Global Govies UCITS ETF DR Hedged GBP (D)

Return for Risk

GOVG.L vs. ACWL.L — Risk / Return Rank

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

GOVG.L

GOVG.L Risk / Return Rank: 9
GOVG.L Sharpe Ratio Rank: 9
GOVG.L Sortino Ratio Rank: 8
GOVG.L Omega Ratio Rank: 8
GOVG.L Calmar Ratio Rank: 10
GOVG.L Martin Ratio Rank: 10

ACWL.L

ACWL.L Risk / Return Rank: 67
ACWL.L Sharpe Ratio Rank: 71
ACWL.L Sortino Ratio Rank: 69
ACWL.L Omega Ratio Rank: 72
ACWL.L Calmar Ratio Rank: 59
ACWL.L Martin Ratio Rank: 65

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.

GOVG.L vs. ACWL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi Index J.P. Morgan GBI Global Govies UCITS ETF DR Hedged GBP (D) (GOVG.L) and Lyxor MSCI All Country World UCITS ETF (ACWL.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.

	GOVG.L	ACWL.L	Difference
Sharpe ratio Return per unit of total volatility	-0.11	1.29	-1.40
Sortino ratio Return per unit of downside risk	-0.11	1.79	-1.90
Omega ratio Gain probability vs. loss probability	0.98	1.28	-0.29
Calmar ratio Return relative to maximum drawdown	-0.11	1.56	-1.68
Martin ratio Return relative to average drawdown	-0.24	6.93	-7.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GOVG.L vs. ACWL.L - Sharpe Ratio Comparison

The current GOVG.L Sharpe Ratio is -0.11, which is lower than the ACWL.L Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of GOVG.L and ACWL.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GOVG.L	ACWL.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.11	1.29	-1.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.71	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	2.36	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.56	2.20	-2.76

Correlation

The correlation between GOVG.L and ACWL.L is -0.05. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

GOVG.L vs. ACWL.L - Dividend Comparison

Neither GOVG.L nor ACWL.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

GOVG.L vs. ACWL.L - Drawdown Comparison

The maximum GOVG.L drawdown since its inception was -17.52%, roughly equal to the maximum ACWL.L drawdown of -18.15%. Use the drawdown chart below to compare losses from any high point for GOVG.L and ACWL.L.

Drawdown Indicators

	GOVG.L	ACWL.L	Difference
Max Drawdown Largest peak-to-trough decline	-17.52%	-18.15%	+0.63%
Max Drawdown (1Y) Largest decline over 1 year	-3.89%	-10.51%	+6.62%
Max Drawdown (5Y) Largest decline over 5 years	—	-18.15%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-18.15%	—
Current Drawdown Current decline from peak	-13.76%	-4.06%	-9.70%
Average Drawdown Average peak-to-trough decline	-11.91%	-2.55%	-9.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.82%	2.39%	-0.57%

Volatility

GOVG.L vs. ACWL.L - Volatility Comparison

The current volatility for Amundi Index J.P. Morgan GBI Global Govies UCITS ETF DR Hedged GBP (D) (GOVG.L) is 1.34%, while Lyxor MSCI All Country World UCITS ETF (ACWL.L) has a volatility of 4.14%. This indicates that GOVG.L experiences smaller price fluctuations and is considered to be less risky than ACWL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GOVG.L	ACWL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.34%	4.14%	-2.80%
Volatility (6M) Calculated over the trailing 6-month period	3.40%	8.20%	-4.80%
Volatility (1Y) Calculated over the trailing 1-year period	4.37%	14.08%	-9.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.15%	17.14%	-11.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.15%	23.99%	-18.84%