PABG.L vs. V3GP.L
PABG.L (Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc) and V3GP.L (Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Distributing) are both exchange-traded funds - PABG.L is a Europe Equities fund tracking the MSCI EMU NR EUR, while V3GP.L is a Global Corporate Bonds fund tracking the Bloomberg Gbl Agg Corp TR Hdg GBP. Both are passively managed. Over the past 5 years, PABG.L returned 10.08%/yr vs 0.39%/yr for V3GP.L. At a 0.19 correlation, their price movements are largely independent. PABG.L charges 0.20%/yr vs 0.15%/yr for V3GP.L.
Performance
PABG.L vs. V3GP.L - Performance Comparison
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Returns By Period
In the year-to-date period, PABG.L achieves a 7.45% return, which is significantly higher than V3GP.L's 0.64% return.
PABG.L
- 1D
- 2.24%
- 1M
- 5.50%
- YTD
- 7.45%
- 6M
- 8.23%
- 1Y
- 19.73%
- 3Y*
- 16.47%
- 5Y*
- 10.08%
- 10Y*
- —
V3GP.L
- 1D
- 0.23%
- 1M
- 0.61%
- YTD
- 0.64%
- 6M
- 1.44%
- 1Y
- 4.43%
- 3Y*
- 5.47%
- 5Y*
- 0.39%
- 10Y*
- —
PABG.L vs. V3GP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PABG.L Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc | 7.45% | 27.76% | 9.01% | 19.39% | -11.91% | 7.25% |
V3GP.L Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Distributing | 0.64% | 6.28% | 3.50% | 7.55% | -14.46% | 1.52% |
Correlation
The correlation between PABG.L and V3GP.L is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since May 20, 2021 | 0.19 |
Over the past year, PABG.L and V3GP.L have become more correlated (0.43) than their long-term average of 0.19, meaning their price movements have been converging.
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Return for Risk
PABG.L vs. V3GP.L — Risk / Return Rank
PABG.L
V3GP.L
PABG.L vs. V3GP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc (PABG.L) and Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Distributing (V3GP.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.
| PABG.L | V3GP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.22 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 1.61 | -0.12 |
| Martin ratioReturn relative to average drawdown | 5.14 | 5.27 | -0.14 |
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Drawdowns
PABG.L vs. V3GP.L - Drawdown Comparison
The maximum PABG.L drawdown since its inception was -26.49%, which is greater than V3GP.L's maximum drawdown of -20.08%. Use the drawdown chart below to compare losses from any high point for PABG.L and V3GP.L.
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Drawdown Indicators
| PABG.L | V3GP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.49% | -20.08% | -6.41% |
Max Drawdown (1Y)Largest decline over 1 year | -11.77% | -2.60% | -9.17% |
Max Drawdown (3Y)Largest decline over 3 years | -13.84% | -3.67% | -10.17% |
Max Drawdown (5Y)Largest decline over 5 years | -26.49% | -20.08% | -6.41% |
Current DrawdownCurrent decline from peak | 0.00% | -0.52% | +0.52% |
Average DrawdownAverage peak-to-trough decline | -6.08% | -7.69% | +1.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.42% | 0.79% | +2.63% |
Volatility
PABG.L vs. V3GP.L - Volatility Comparison
Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc (PABG.L) has a higher volatility of 4.25% compared to Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Distributing (V3GP.L) at 1.38%. This indicates that PABG.L's price experiences larger fluctuations and is considered to be riskier than V3GP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PABG.L | V3GP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.25% | 1.38% | +2.87% |
Volatility (6M)Calculated over the trailing 6-month period | 12.94% | 2.84% | +10.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.57% | 3.73% | +11.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.88% | 5.54% | +13.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.95% | 5.52% | +13.43% |
PABG.L vs. V3GP.L - Expense Ratio Comparison
PABG.L has a 0.20% expense ratio, which is higher than V3GP.L's 0.15% 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
PABG.L vs. V3GP.L - Dividend Comparison
PABG.L has not paid dividends to shareholders, while V3GP.L's dividend yield for the trailing twelve months is around 4.36%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
PABG.L Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
V3GP.L Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Distributing | 4.36% | 4.43% | 4.36% | 4.10% | 2.48% | 0.71% |
Frequently Asked Questions
PABG.L and V3GP.L have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, V3GP.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
V3GP.L is cheaper with a 0.15% expense ratio, compared with 0.20% for PABG.L.
PABG.L is categorized as Europe Equities, while V3GP.L is Global Corporate Bonds. PABG.L tracks MSCI EMU NR EUR, while V3GP.L tracks Bloomberg Gbl Agg Corp TR Hdg GBP. They also come from different issuers: Amundi and Vanguard. Their fees differ too: 0.20% for PABG.L and 0.15% for V3GP.L.
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