SAAA.L vs. SAGG.L
SAAA.L (iShares Global AAA-AA Government Bond UCITS ETF (Dist)) and SAGG.L (iShares Core Global Aggregate Bond UCITS ETF USD (Dist)) are both Global Bonds funds from iShares tracking the Bloomberg Global Aggregate TR USD. Both are passively managed. Over the past 5 years, SAAA.L returned -1.97%/yr vs 215.72%/yr for SAGG.L. Their correlation of 0.86 suggests significant overlap in exposure. SAAA.L charges 0.20%/yr vs 0.10%/yr for SAGG.L.
Performance
SAAA.L vs. SAGG.L - Performance Comparison
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Returns By Period
In the year-to-date period, SAAA.L achieves a 0.29% return, which is significantly higher than SAGG.L's -1.45% return.
SAAA.L
- 1D
- 0.19%
- 1M
- 0.80%
- YTD
- 0.29%
- 6M
- 0.21%
- 1Y
- 3.05%
- 3Y*
- 1.29%
- 5Y*
- -1.97%
- 10Y*
- 0.39%
SAGG.L
- 1D
- 0.26%
- 1M
- 1.02%
- YTD
- -1.45%
- 6M
- -1.68%
- 1Y
- 1.64%
- 3Y*
- 0.18%
- 5Y*
- 215.72%
- 10Y*
- —
SAAA.L vs. SAGG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SAAA.L iShares Global AAA-AA Government Bond UCITS ETF (Dist) | 0.29% | 2.96% | -3.46% | 2.32% | -11.40% | -6.94% | 8.12% | 1.61% | 2.74% | -0.97% |
SAGG.L iShares Core Global Aggregate Bond UCITS ETF USD (Dist) | -1.45% | 0.53% | 0.03% | 975.51% | 1,013.35% | 616.49% | 2,058.65% | 3,293.93% | 383.58% | -1.30% |
Correlation
The correlation between SAAA.L and SAGG.L is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Nov 24, 2017 | 0.86 |
The correlation between SAAA.L and SAGG.L shifts across timeframes, from 0.74 (1 year) to 0.86 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SAAA.L vs. SAGG.L — Risk / Return Rank
SAAA.L
SAGG.L
SAAA.L vs. SAGG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global AAA-AA Government Bond UCITS ETF (Dist) (SAAA.L) and iShares Core Global Aggregate Bond UCITS ETF USD (Dist) (SAGG.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.
| SAAA.L | SAGG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.06 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.79 | 0.32 | +0.48 |
| Martin ratioReturn relative to average drawdown | 1.74 | 0.63 | +1.11 |
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
| SAAA.L | SAGG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.67 | 0.34 | +0.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.29 | 0.45 | -0.75 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.05 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.98 | -0.85 |
Drawdowns
SAAA.L vs. SAGG.L - Drawdown Comparison
The maximum SAAA.L drawdown since its inception was -24.70%, which is greater than SAGG.L's maximum drawdown of -10.22%. Use the drawdown chart below to compare losses from any high point for SAAA.L and SAGG.L.
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Drawdown Indicators
| SAAA.L | SAGG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.70% | -10.22% | -14.48% |
Max Drawdown (1Y)Largest decline over 1 year | -3.83% | -5.18% | +1.35% |
Max Drawdown (3Y)Largest decline over 3 years | -5.68% | -5.18% | -0.50% |
Max Drawdown (5Y)Largest decline over 5 years | -18.85% | -8.71% | -10.14% |
Max Drawdown (10Y)Largest decline over 10 years | -24.70% | — | — |
Current DrawdownCurrent decline from peak | -18.59% | -3.93% | -14.66% |
Average DrawdownAverage peak-to-trough decline | -9.88% | -3.27% | -6.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.75% | 2.61% | -0.86% |
Volatility
SAAA.L vs. SAGG.L - Volatility Comparison
iShares Global AAA-AA Government Bond UCITS ETF (Dist) (SAAA.L) has a higher volatility of 1.36% compared to iShares Core Global Aggregate Bond UCITS ETF USD (Dist) (SAGG.L) at 1.17%. This indicates that SAAA.L's price experiences larger fluctuations and is considered to be riskier than SAGG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SAAA.L | SAGG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.36% | 1.17% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 3.45% | 3.64% | -0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.50% | 4.81% | -0.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.75% | 475.05% | -468.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.86% | 485.36% | -477.50% |
SAAA.L vs. SAGG.L - Expense Ratio Comparison
SAAA.L has a 0.20% expense ratio, which is higher than SAGG.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
SAAA.L vs. SAGG.L - Dividend Comparison
SAAA.L's dividend yield for the trailing twelve months is around 2.68%, more than SAGG.L's 1.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SAAA.L iShares Global AAA-AA Government Bond UCITS ETF (Dist) | 2.68% | 2.48% | 2.34% | 1.57% | 0.76% | 0.48% | 0.61% | 0.89% | 0.87% | 0.81% | 0.83% | 1.06% |
SAGG.L iShares Core Global Aggregate Bond UCITS ETF USD (Dist) | 1.52% | 3.13% | 2.68% | 95.35% | 147.52% | 130.26% | 156.35% | 167.63% | 76.39% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SAAA.L and SAGG.L have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SAGG.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SAGG.L is cheaper with a 0.10% expense ratio, compared with 0.20% for SAAA.L.
Both ETFs track Bloomberg Global Aggregate TR USD. Their fees differ too: 0.20% for SAAA.L and 0.10% for SAGG.L.
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