SAGG.L vs. FGOV.L
SAGG.L (iShares Core Global Aggregate Bond UCITS ETF USD (Dist)) and FGOV.L (First Trust Low Duration Global Government Bond UCITS ETF GBP Hedged dist) are both Global Bonds funds - SAGG.L tracks the Bloomberg Global Aggregate TR USD while FGOV.L tracks the Bloomberg Global Aggregate TR Hdg GBP. Both are passively managed. Over the past 5 years, SAGG.L returned 215.72%/yr vs 0.91%/yr for FGOV.L. At a 0.21 correlation, their price movements are largely independent. SAGG.L charges 0.10%/yr vs 0.45%/yr for FGOV.L.
Performance
SAGG.L vs. FGOV.L - Performance Comparison
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Different Trading Currencies
SAGG.L is traded in GBP, while FGOV.L is traded in GBp. To make them comparable, the FGOV.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, SAGG.L achieves a -1.45% return, which is significantly lower than FGOV.L's 1.28% return.
SAGG.L
- 1D
- 0.26%
- 1M
- 1.02%
- YTD
- -1.45%
- 6M
- -1.68%
- 1Y
- 1.64%
- 3Y*
- 0.18%
- 5Y*
- 215.72%
- 10Y*
- —
FGOV.L
- 1D
- 0.01%
- 1M
- 0.62%
- YTD
- 1.28%
- 6M
- 1.34%
- 1Y
- 4.02%
- 3Y*
- 4.70%
- 5Y*
- 0.91%
- 10Y*
- —
SAGG.L vs. FGOV.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SAGG.L iShares Core Global Aggregate Bond UCITS ETF USD (Dist) | -1.45% | 0.53% | 0.03% | 975.51% | 1,013.35% | 616.49% | -2.19% |
FGOV.L First Trust Low Duration Global Government Bond UCITS ETF GBP Hedged dist | 1.28% | 5.31% | 3.51% | 6.01% | -7.49% | -6.11% | 0.70% |
Correlation
The correlation between SAGG.L and FGOV.L is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Oct 9, 2020 | 0.21 |
The correlation between SAGG.L and FGOV.L shifts across timeframes, from 0.10 (1 year) to 0.22 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SAGG.L vs. FGOV.L — Risk / Return Rank
SAGG.L
FGOV.L
SAGG.L vs. FGOV.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Global Aggregate Bond UCITS ETF USD (Dist) (SAGG.L) and First Trust Low Duration Global Government Bond UCITS ETF GBP Hedged dist (FGOV.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.
| SAGG.L | FGOV.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.89 | ||
| Sortino ratioReturn per unit of downside risk | -2.95 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.47 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | 0.32 | 2.29 | -1.98 |
| Martin ratioReturn relative to average drawdown | 0.63 | 7.91 | -7.28 |
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
| SAGG.L | FGOV.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.34 | 2.23 | -1.89 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 0.28 | +0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.98 | 0.13 | +0.85 |
Drawdowns
SAGG.L vs. FGOV.L - Drawdown Comparison
The maximum SAGG.L drawdown since its inception was -10.22%, smaller than the maximum FGOV.L drawdown of -14.18%. Use the drawdown chart below to compare losses from any high point for SAGG.L and FGOV.L.
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Drawdown Indicators
| SAGG.L | FGOV.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.22% | -14.18% | +3.96% |
Max Drawdown (1Y)Largest decline over 1 year | -5.18% | -1.74% | -3.44% |
Max Drawdown (3Y)Largest decline over 3 years | -5.18% | -1.74% | -3.44% |
Max Drawdown (5Y)Largest decline over 5 years | -8.71% | -11.94% | +3.23% |
Current DrawdownCurrent decline from peak | -3.93% | -0.19% | -3.74% |
Average DrawdownAverage peak-to-trough decline | -3.27% | -6.05% | +2.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.61% | 0.51% | +2.10% |
Volatility
SAGG.L vs. FGOV.L - Volatility Comparison
iShares Core Global Aggregate Bond UCITS ETF USD (Dist) (SAGG.L) has a higher volatility of 1.17% compared to First Trust Low Duration Global Government Bond UCITS ETF GBP Hedged dist (FGOV.L) at 0.80%. This indicates that SAGG.L's price experiences larger fluctuations and is considered to be riskier than FGOV.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SAGG.L | FGOV.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 0.80% | +0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 3.64% | 1.60% | +2.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.81% | 1.80% | +3.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 475.05% | 3.30% | +471.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 485.36% | 3.18% | +482.18% |
SAGG.L vs. FGOV.L - Expense Ratio Comparison
SAGG.L has a 0.10% expense ratio, which is lower than FGOV.L's 0.45% expense ratio.
Dividends
SAGG.L vs. FGOV.L - Dividend Comparison
SAGG.L's dividend yield for the trailing twelve months is around 1.52%, less than FGOV.L's 3.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FGOV.L First Trust Low Duration Global Government Bond UCITS ETF GBP Hedged dist | 3.07% | 2.82% | 2.27% | 1.86% | 1.01% | 1.20% | 0.00% | 0.00% | 0.00% |
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% |
Frequently Asked Questions
SAGG.L and FGOV.L have a correlation of 0.10, 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 0.45% for FGOV.L.
SAGG.L tracks Bloomberg Global Aggregate TR USD, while FGOV.L tracks Bloomberg Global Aggregate TR Hdg GBP. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.10% for SAGG.L and 0.45% for FGOV.L.
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