IGLO.L vs. VAGU.L
IGLO.L (iShares Global Government Bond UCITS) and VAGU.L (Vanguard Global Aggregate Bond UCITS ETF USD Hedged Accumulating) are both Global Bonds funds - IGLO.L tracks the Bloomberg Global Aggregate TR USD while VAGU.L tracks the Bloomberg Global Aggregate TR Hdg USD. Both are passively managed. Over the past 5 years, IGLO.L returned -3.35%/yr vs 0.31%/yr for VAGU.L. A 0.74 correlation means they provide meaningful diversification when combined. IGLO.L charges 0.20%/yr vs 0.10%/yr for VAGU.L.
Performance
IGLO.L vs. VAGU.L - Performance Comparison
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Returns By Period
In the year-to-date period, IGLO.L achieves a -1.63% return, which is significantly lower than VAGU.L's 0.41% return.
IGLO.L
- 1D
- 0.19%
- 1M
- -0.07%
- YTD
- -1.63%
- 6M
- -1.00%
- 1Y
- -0.09%
- 3Y*
- 1.45%
- 5Y*
- -3.35%
- 10Y*
- -0.82%
VAGU.L
- 1D
- 0.20%
- 1M
- 0.56%
- YTD
- 0.41%
- 6M
- 0.60%
- 1Y
- 3.42%
- 3Y*
- 4.10%
- 5Y*
- 0.31%
- 10Y*
- —
IGLO.L vs. VAGU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IGLO.L iShares Global Government Bond UCITS | -1.63% | 7.14% | -3.65% | 4.00% | -17.69% | -6.89% | 9.38% | 0.79% |
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 IGLO.L and VAGU.L is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2019 | 0.74 |
The correlation between IGLO.L and VAGU.L has been stable across timeframes, ranging from 0.74 to 0.77 - a consistent structural relationship.
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Return for Risk
IGLO.L vs. VAGU.L — Risk / Return Rank
IGLO.L
VAGU.L
IGLO.L vs. VAGU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Government Bond UCITS (IGLO.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.
| IGLO.L | VAGU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.98 | ||
| Sortino ratioReturn per unit of downside risk | -1.47 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.17 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 1.26 | -1.28 |
| Martin ratioReturn relative to average drawdown | -0.05 | 3.55 | -3.60 |
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
| IGLO.L | VAGU.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.02 | 0.97 | -0.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.45 | 0.06 | -0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.12 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.22 | -0.10 |
Drawdowns
IGLO.L vs. VAGU.L - Drawdown Comparison
The maximum IGLO.L drawdown since its inception was -28.01%, which is greater than VAGU.L's maximum drawdown of -17.42%. Use the drawdown chart below to compare losses from any high point for IGLO.L and VAGU.L.
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Drawdown Indicators
| IGLO.L | VAGU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.01% | -17.42% | -10.59% |
Max Drawdown (1Y)Largest decline over 1 year | -4.28% | -2.70% | -1.58% |
Max Drawdown (3Y)Largest decline over 3 years | -7.93% | -3.84% | -4.09% |
Max Drawdown (5Y)Largest decline over 5 years | -25.88% | -17.10% | -8.78% |
Max Drawdown (10Y)Largest decline over 10 years | -28.01% | — | — |
Current DrawdownCurrent decline from peak | -19.08% | -1.33% | -17.75% |
Average DrawdownAverage peak-to-trough decline | -8.75% | -5.53% | -3.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.67% | 0.96% | +0.71% |
Volatility
IGLO.L vs. VAGU.L - Volatility Comparison
iShares Global Government Bond UCITS (IGLO.L) has a higher volatility of 2.20% compared to Vanguard Global Aggregate Bond UCITS ETF USD Hedged Accumulating (VAGU.L) at 1.41%. This indicates that IGLO.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.
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Volatility by Period
| IGLO.L | VAGU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.20% | 1.41% | +0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 4.36% | 2.76% | +1.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.89% | 3.53% | +2.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.46% | 5.10% | +2.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.66% | 4.73% | +1.93% |
IGLO.L vs. VAGU.L - Expense Ratio Comparison
IGLO.L has a 0.20% expense ratio, which is higher than VAGU.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
IGLO.L vs. VAGU.L - Dividend Comparison
IGLO.L's dividend yield for the trailing twelve months is around 3.09%, while VAGU.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGLO.L iShares Global Government Bond UCITS | 3.09% | 2.86% | 2.51% | 1.47% | 0.78% | 0.63% | 0.99% | 1.21% | 1.07% | 0.93% | 1.09% | 0.60% |
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% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IGLO.L and VAGU.L have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VAGU.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VAGU.L is cheaper with a 0.10% expense ratio, compared with 0.20% for IGLO.L.
IGLO.L tracks Bloomberg Global Aggregate TR USD, while VAGU.L tracks Bloomberg Global Aggregate TR Hdg USD. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.20% for IGLO.L and 0.10% for VAGU.L.
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