IGAA.L vs. VDEA.L
IGAA.L (iShares Emerging Asia Local Govt Bond UCITS ETF USD (Acc)) and VDEA.L (Vanguard USD Emerging Markets Government Bond UCITS ETF USD Accumulation) are both Emerging Markets Bonds funds - IGAA.L tracks the BBG EM Asia Local Currency Govt Country Cap NET Index while VDEA.L tracks the Bloomberg EM USD Sovereign + Quasi-Sov Index. Both are passively managed. Over the past 5 years, IGAA.L returned -0.14%/yr vs 2.15%/yr for VDEA.L. At a 0.45 correlation, their price movements are largely independent. IGAA.L charges 0.50%/yr vs 0.23%/yr for VDEA.L.
Performance
IGAA.L vs. VDEA.L - Performance Comparison
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Returns By Period
In the year-to-date period, IGAA.L achieves a -4.38% return, which is significantly lower than VDEA.L's 1.34% return.
IGAA.L
- 1D
- 0.00%
- 1M
- -0.70%
- 6M
- -3.57%
- YTD
- -4.38%
- 1Y
- -4.86%
- 3Y*
- 1.26%
- 5Y*
- -0.14%
- 10Y*
- —
VDEA.L
- 1D
- 0.00%
- 1M
- -0.76%
- 6M
- 1.53%
- YTD
- 1.34%
- 1Y
- 7.95%
- 3Y*
- 7.99%
- 5Y*
- 2.15%
- 10Y*
- —
IGAA.L vs. VDEA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IGAA.L iShares Emerging Asia Local Govt Bond UCITS ETF USD (Acc) | -4.38% | 5.88% | 1.45% | 4.93% | -8.03% | -4.34% | 9.11% | 7.23% |
VDEA.L Vanguard USD Emerging Markets Government Bond UCITS ETF USD Accumulation | 1.34% | 11.45% | 6.35% | 9.71% | -15.28% | -1.74% | 6.10% | 9.44% |
Correlation
The correlation between IGAA.L and VDEA.L is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 2019 | 0.45 |
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Return for Risk
IGAA.L vs. VDEA.L — Risk / Return Rank
IGAA.L
VDEA.L
IGAA.L vs. VDEA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Emerging Asia Local Govt Bond UCITS ETF USD (Acc) (IGAA.L) and Vanguard USD Emerging Markets Government Bond UCITS ETF USD Accumulation (VDEA.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IGAA.L | VDEA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.46 | ||
| Sortino ratioReturn per unit of downside risk | -3.58 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.29 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.73 | 2.16 | -2.89 |
| Martin ratioReturn relative to average drawdown | -1.50 | 8.48 | -9.98 |
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Drawdowns
IGAA.L vs. VDEA.L - Drawdown Comparison
The maximum IGAA.L drawdown since its inception was -21.59%, smaller than the maximum VDEA.L drawdown of -24.08%. Use the drawdown chart below to compare losses from any high point for IGAA.L and VDEA.L.
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Drawdown Indicators
| IGAA.L | VDEA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.59% | -24.08% | +2.49% |
Max Drawdown (1Y)Largest decline over 1 year | -6.63% | -3.66% | -2.97% |
Max Drawdown (3Y)Largest decline over 3 years | -7.34% | -6.15% | -1.19% |
Max Drawdown (5Y)Largest decline over 5 years | -18.76% | -24.08% | +5.32% |
Current DrawdownCurrent decline from peak | -5.80% | -0.86% | -4.94% |
Average DrawdownAverage peak-to-trough decline | -5.56% | -5.81% | +0.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.24% | 0.94% | +2.30% |
Volatility
IGAA.L vs. VDEA.L - Volatility Comparison
iShares Emerging Asia Local Govt Bond UCITS ETF USD (Acc) (IGAA.L) has a higher volatility of 1.36% compared to Vanguard USD Emerging Markets Government Bond UCITS ETF USD Accumulation (VDEA.L) at 1.03%. This indicates that IGAA.L's price experiences larger fluctuations and is considered to be riskier than VDEA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGAA.L | VDEA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.36% | 1.03% | +0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 4.90% | 4.11% | +0.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.60% | 5.00% | +0.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.29% | 7.26% | -0.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.12% | 8.19% | -2.07% |
IGAA.L vs. VDEA.L - Expense Ratio Comparison
IGAA.L has a 0.50% expense ratio, which is higher than VDEA.L's 0.23% expense ratio.
Dividends
IGAA.L vs. VDEA.L - Dividend Comparison
Neither IGAA.L nor VDEA.L has paid dividends to shareholders.
Frequently Asked Questions
IGAA.L and VDEA.L have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VDEA.L is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VDEA.L is cheaper with a 0.23% expense ratio, compared with 0.50% for IGAA.L.
IGAA.L tracks BBG EM Asia Local Currency Govt Country Cap NET Index, while VDEA.L tracks Bloomberg EM USD Sovereign + Quasi-Sov Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.50% for IGAA.L and 0.23% for VDEA.L.
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