V3GD.L vs. FSMP.L
V3GD.L (Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Distributing) and FSMP.L (Fidelity Sustainable Global Corporate Bond Paris-Aligned Multifactor UCITS ETF ACC-GBP (hedged)) are both Global Corporate Bonds funds - V3GD.L tracks the Bloomberg Gbl Agg Corp 0901 TR Hdg USD while FSMP.L tracks the Bloomberg Gbl Agg Corp TR Hdg GBP. Both are passively managed. Over the past 5 years, V3GD.L returned 1.07%/yr vs -0.64%/yr for FSMP.L. A 0.60 correlation means they provide meaningful diversification when combined. V3GD.L charges 0.15%/yr vs 0.30%/yr for FSMP.L.
Performance
V3GD.L vs. FSMP.L - Performance Comparison
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Different Trading Currencies
V3GD.L is traded in USD, while FSMP.L is traded in GBP. To make them comparable, the FSMP.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, V3GD.L achieves a 0.61% return, which is significantly higher than FSMP.L's 0.16% return.
V3GD.L
- 1D
- 0.21%
- 1M
- 0.73%
- YTD
- 0.61%
- 6M
- 0.81%
- 1Y
- 4.54%
- 3Y*
- 5.67%
- 5Y*
- 1.07%
- 10Y*
- —
FSMP.L
- 1D
- 0.22%
- 1M
- -0.03%
- YTD
- 0.16%
- 6M
- 1.40%
- 1Y
- 3.52%
- 3Y*
- 7.90%
- 5Y*
- -0.64%
- 10Y*
- —
V3GD.L vs. FSMP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
V3GD.L Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Distributing | 0.61% | 6.28% | 3.93% | 8.62% | -13.27% | 1.15% |
FSMP.L Fidelity Sustainable Global Corporate Bond Paris-Aligned Multifactor UCITS ETF ACC-GBP (hedged) | 0.16% | 14.39% | 1.23% | 13.71% | -24.11% | -2.94% |
Correlation
The correlation between V3GD.L and FSMP.L is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since May 26, 2021 | 0.60 |
The correlation between V3GD.L and FSMP.L has been stable across timeframes, ranging from 0.59 to 0.62 - a consistent structural relationship.
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Return for Risk
V3GD.L vs. FSMP.L — Risk / Return Rank
V3GD.L
FSMP.L
V3GD.L vs. FSMP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Distributing (V3GD.L) and Fidelity Sustainable Global Corporate Bond Paris-Aligned Multifactor UCITS ETF ACC-GBP (hedged) (FSMP.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.
| V3GD.L | FSMP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.82 | ||
| Sortino ratioReturn per unit of downside risk | +1.18 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.07 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.78 | 0.55 | +1.23 |
| Martin ratioReturn relative to average drawdown | 5.96 | 1.39 | +4.57 |
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
| V3GD.L | FSMP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.23 | 0.40 | +0.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.19 | -0.05 | +0.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 0.03 | +0.18 |
Drawdowns
V3GD.L vs. FSMP.L - Drawdown Comparison
The maximum V3GD.L drawdown since its inception was -19.16%, smaller than the maximum FSMP.L drawdown of -37.12%. Use the drawdown chart below to compare losses from any high point for V3GD.L and FSMP.L.
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Drawdown Indicators
| V3GD.L | FSMP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.16% | -37.12% | +17.96% |
Max Drawdown (1Y)Largest decline over 1 year | -2.54% | -6.37% | +3.83% |
Max Drawdown (3Y)Largest decline over 3 years | -3.65% | -11.88% | +8.23% |
Max Drawdown (5Y)Largest decline over 5 years | -19.16% | -37.12% | +17.96% |
Current DrawdownCurrent decline from peak | -0.59% | -3.79% | +3.20% |
Average DrawdownAverage peak-to-trough decline | -6.40% | -14.06% | +7.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.76% | 2.53% | -1.77% |
Volatility
V3GD.L vs. FSMP.L - Volatility Comparison
The current volatility for Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Distributing (V3GD.L) is 1.47%, while Fidelity Sustainable Global Corporate Bond Paris-Aligned Multifactor UCITS ETF ACC-GBP (hedged) (FSMP.L) has a volatility of 2.83%. This indicates that V3GD.L experiences smaller price fluctuations and is considered to be less risky than FSMP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| V3GD.L | FSMP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.47% | 2.83% | -1.36% |
Volatility (6M)Calculated over the trailing 6-month period | 2.85% | 6.40% | -3.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.69% | 8.71% | -5.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.49% | 11.74% | -6.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.48% | 11.60% | -6.12% |
V3GD.L vs. FSMP.L - Expense Ratio Comparison
V3GD.L has a 0.15% expense ratio, which is lower than FSMP.L's 0.30% expense ratio.
Dividends
V3GD.L vs. FSMP.L - Dividend Comparison
V3GD.L's dividend yield for the trailing twelve months is around 4.37%, while FSMP.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
FSMP.L Fidelity Sustainable Global Corporate Bond Paris-Aligned Multifactor UCITS ETF ACC-GBP (hedged) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
V3GD.L Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Distributing | 4.37% | 4.45% | 4.35% | 4.05% | 2.44% | 0.70% |
Frequently Asked Questions
V3GD.L and FSMP.L have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, V3GD.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
V3GD.L is cheaper with a 0.15% expense ratio, compared with 0.30% for FSMP.L.
V3GD.L tracks Bloomberg Gbl Agg Corp 0901 TR Hdg USD, while FSMP.L tracks Bloomberg Gbl Agg Corp TR Hdg GBP. They also come from different issuers: Vanguard and Fidelity. Their fees differ too: 0.15% for V3GD.L and 0.30% for FSMP.L.
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