IBGM.L vs. VAGP.L
IBGM.L (iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist)) and VAGP.L (Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing) are both exchange-traded funds - IBGM.L is a European Government Bonds fund tracking the Bloomberg Euro Agg Govt TR EUR, while VAGP.L is a Global Bonds fund tracking the Bloomberg Global Aggregate TR Hdg GBP. Both are passively managed. Over the past 5 years, IBGM.L returned 39.50%/yr vs -0.24%/yr for VAGP.L. A 0.60 correlation means they provide meaningful diversification when combined. IBGM.L charges 0.15%/yr vs 0.10%/yr for VAGP.L.
Performance
IBGM.L vs. VAGP.L - Performance Comparison
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Returns By Period
In the year-to-date period, IBGM.L achieves a -2.35% return, which is significantly lower than VAGP.L's 0.19% return.
IBGM.L
- 1D
- 0.20%
- 1M
- -1.36%
- YTD
- -2.35%
- 6M
- -2.29%
- 1Y
- 0.51%
- 3Y*
- 1.73%
- 5Y*
- 39.50%
- 10Y*
- 31.18%
VAGP.L
- 1D
- 0.29%
- 1M
- 0.10%
- YTD
- 0.19%
- 6M
- 0.65%
- 1Y
- 3.30%
- 3Y*
- 3.74%
- 5Y*
- -0.24%
- 10Y*
- —
IBGM.L vs. VAGP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IBGM.L iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) | -2.35% | 5.38% | -3.53% | 465.78% | -3.14% | -9.55% | 20.87% | 29.75% |
VAGP.L Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing | 0.19% | 4.96% | 2.51% | 5.84% | -13.81% | -2.03% | 5.31% | 2.30% |
Correlation
The correlation between IBGM.L and VAGP.L is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2019 | 0.60 |
The correlation between IBGM.L and VAGP.L has been stable across timeframes, ranging from 0.60 to 0.68 - a consistent structural relationship.
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Return for Risk
IBGM.L vs. VAGP.L — Risk / Return Rank
IBGM.L
VAGP.L
IBGM.L vs. VAGP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBGM.L) and Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing (VAGP.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.
| IBGM.L | VAGP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.96 | ||
| Sortino ratioReturn per unit of downside risk | -1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.17 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.00 | 1.15 | -1.15 |
| Martin ratioReturn relative to average drawdown | 0.01 | 3.41 | -3.40 |
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
| IBGM.L | VAGP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.00 | 0.97 | -0.96 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | -0.05 | +0.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 0.12 | +0.09 |
Drawdowns
IBGM.L vs. VAGP.L - Drawdown Comparison
The maximum IBGM.L drawdown since its inception was -26.66%, which is greater than VAGP.L's maximum drawdown of -18.13%. Use the drawdown chart below to compare losses from any high point for IBGM.L and VAGP.L.
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Drawdown Indicators
| IBGM.L | VAGP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.66% | -18.13% | -8.53% |
Max Drawdown (1Y)Largest decline over 1 year | -6.20% | -2.80% | -3.40% |
Max Drawdown (3Y)Largest decline over 3 years | -6.85% | -4.04% | -2.81% |
Max Drawdown (5Y)Largest decline over 5 years | -21.27% | -17.70% | -3.57% |
Max Drawdown (10Y)Largest decline over 10 years | -26.66% | — | — |
Current DrawdownCurrent decline from peak | -5.51% | -3.76% | -1.75% |
Average DrawdownAverage peak-to-trough decline | -4.98% | -6.70% | +1.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.84% | 0.95% | +1.89% |
Volatility
IBGM.L vs. VAGP.L - Volatility Comparison
iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBGM.L) has a higher volatility of 2.59% compared to Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing (VAGP.L) at 1.43%. This indicates that IBGM.L's price experiences larger fluctuations and is considered to be riskier than VAGP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBGM.L | VAGP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.59% | 1.43% | +1.16% |
Volatility (6M)Calculated over the trailing 6-month period | 4.94% | 2.79% | +2.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.31% | 3.35% | +2.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 193.47% | 4.78% | +188.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 138.63% | 4.50% | +134.13% |
IBGM.L vs. VAGP.L - Expense Ratio Comparison
IBGM.L has a 0.15% expense ratio, which is higher than VAGP.L's 0.10% 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
IBGM.L vs. VAGP.L - Dividend Comparison
IBGM.L has not paid dividends to shareholders, while VAGP.L's dividend yield for the trailing twelve months is around 3.55%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBGM.L iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) | 0.00% | 1.33% | 2.78% | 79.03% | 13.18% | 0.00% | 8.74% | 63.75% | 0.74% | 0.74% | 0.77% | 1.07% |
VAGP.L Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing | 3.55% | 3.50% | 3.08% | 2.37% | 1.46% | 0.86% | 1.21% | 0.59% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBGM.L and VAGP.L have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VAGP.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VAGP.L is cheaper with a 0.10% expense ratio, compared with 0.15% for IBGM.L.
IBGM.L is categorized as European Government Bonds, while VAGP.L is Global Bonds. IBGM.L tracks Bloomberg Euro Agg Govt TR EUR, while VAGP.L tracks Bloomberg Global Aggregate TR Hdg GBP. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.15% for IBGM.L and 0.10% for VAGP.L.
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