SAGG.L vs. GGOV.L
SAGG.L (iShares Core Global Aggregate Bond UCITS ETF USD (Dist)) and GGOV.L (Amundi Index J.P. Morgan GBI Global Govies) are both Global Bonds funds tracking the Bloomberg Global Aggregate TR USD, from iShares and Amundi respectively. Both are passively managed. Over the past 5 years, SAGG.L returned 215.72%/yr vs -2.27%/yr for GGOV.L. A 0.68 correlation means they provide meaningful diversification when combined. Both charge a 0.10% expense ratio.
Performance
SAGG.L vs. GGOV.L - Performance Comparison
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Different Trading Currencies
SAGG.L is traded in GBP, while GGOV.L is traded in GBp. To make them comparable, the GGOV.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 GGOV.L's -0.92% 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*
- —
GGOV.L
- 1D
- 0.15%
- 1M
- 0.73%
- YTD
- -0.92%
- 6M
- -1.54%
- 1Y
- 0.64%
- 3Y*
- -1.14%
- 5Y*
- -2.27%
- 10Y*
- —
SAGG.L vs. GGOV.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
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% | -7.76% |
GGOV.L Amundi Index J.P. Morgan GBI Global Govies | -0.92% | -1.06% | -1.97% | -1.94% | -7.40% | -5.91% | 6.13% | -8.77% |
Correlation
The correlation between SAGG.L and GGOV.L is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2019 | 0.68 |
Over the past year, SAGG.L and GGOV.L have become more correlated (0.89) than their long-term average of 0.68, meaning their price movements have been converging.
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Return for Risk
SAGG.L vs. GGOV.L — Risk / Return Rank
SAGG.L
GGOV.L
SAGG.L vs. GGOV.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 Amundi Index J.P. Morgan GBI Global Govies (GGOV.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 | GGOV.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.03 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.32 | 0.14 | +0.18 |
| Martin ratioReturn relative to average drawdown | 0.63 | 0.26 | +0.37 |
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 | GGOV.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.34 | 0.14 | +0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | -0.36 | +0.82 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.98 | -0.51 | +1.49 |
Drawdowns
SAGG.L vs. GGOV.L - Drawdown Comparison
The maximum SAGG.L drawdown since its inception was -10.22%, smaller than the maximum GGOV.L drawdown of -25.96%. Use the drawdown chart below to compare losses from any high point for SAGG.L and GGOV.L.
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Drawdown Indicators
| SAGG.L | GGOV.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.22% | -25.96% | +15.74% |
Max Drawdown (1Y)Largest decline over 1 year | -5.18% | -4.67% | -0.51% |
Max Drawdown (3Y)Largest decline over 3 years | -5.18% | -5.70% | +0.52% |
Max Drawdown (5Y)Largest decline over 5 years | -8.71% | -16.68% | +7.97% |
Current DrawdownCurrent decline from peak | -3.93% | -24.80% | +20.87% |
Average DrawdownAverage peak-to-trough decline | -3.27% | -18.43% | +15.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.61% | 2.46% | +0.15% |
Volatility
SAGG.L vs. GGOV.L - Volatility Comparison
The current volatility for iShares Core Global Aggregate Bond UCITS ETF USD (Dist) (SAGG.L) is 1.17%, while Amundi Index J.P. Morgan GBI Global Govies (GGOV.L) has a volatility of 1.30%. This indicates that SAGG.L experiences smaller price fluctuations and is considered to be less risky than GGOV.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 | GGOV.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 1.30% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 3.64% | 3.42% | +0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.81% | 4.66% | +0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 475.05% | 8.19% | +466.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 485.36% | 9.19% | +476.17% |
SAGG.L vs. GGOV.L - Expense Ratio Comparison
Both SAGG.L and GGOV.L have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
SAGG.L vs. GGOV.L - Dividend Comparison
SAGG.L's dividend yield for the trailing twelve months is around 1.52%, while GGOV.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
GGOV.L Amundi Index J.P. Morgan GBI Global Govies | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 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 GGOV.L have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.10% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
SAGG.L and GGOV.L have the same expense ratio: 0.10% per year.
Both ETFs track Bloomberg Global Aggregate TR USD. They also come from different issuers: iShares and Amundi.
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