V3GD.L vs. KLMG.L

Last updated Jun 5, 2026

V3GD.L (Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Distributing) and KLMG.L (Lyxor Green Bond UCITS ETF GBP Hedged Dist) are both Global Corporate Bonds funds - V3GD.L tracks the Bloomberg Gbl Agg Corp 0901 TR Hdg USD while KLMG.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 -2.63%/yr for KLMG.L. A 0.60 correlation means they provide meaningful diversification when combined. V3GD.L charges 0.15%/yr vs 0.30%/yr for KLMG.L.

Performance

V3GD.L vs. KLMG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Distributing (V3GD.L) and Lyxor Green Bond UCITS ETF GBP Hedged Dist (KLMG.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

V3GD.L is traded in USD, while KLMG.L is traded in GBP. To make them comparable, the KLMG.L values have been converted to USD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with V3GD.L having a 0.61% return and KLMG.L slightly lower at 0.59%.

V3GD.L

• 1D: 0.21%
• 1M: 0.73%
• YTD: 0.61%
• 6M: 0.81%
• 1Y: 4.54%
• 3Y*: 5.67%
• 5Y*: 1.07%
• 10Y*: —

KLMG.L

• 1D: 0.14%
• 1M: -0.03%
• YTD: 0.59%
• 6M: -0.61%
• 1Y: -0.60%
• 3Y*: 6.36%
• 5Y*: -2.63%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

V3GD.L vs. KLMG.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%
KLMG.L Lyxor Green Bond UCITS ETF GBP Hedged Dist	0.59%	8.75%	1.32%	14.25%	-27.61%	-3.99%

Correlation

The correlation between V3GD.L and KLMG.L is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.60
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 KLMG.L has been stable across timeframes, ranging from 0.54 to 0.60 - a consistent structural relationship.

Return for Risk

V3GD.L vs. KLMG.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

V3GD.L

V3GD.L Risk / Return Rank: 36
V3GD.L Sharpe Ratio Rank: 35
V3GD.L Sortino Ratio Rank: 35
V3GD.L Omega Ratio Rank: 33
V3GD.L Calmar Ratio Rank: 36
V3GD.L Martin Ratio Rank: 39

KLMG.L

KLMG.L Risk / Return Rank: 10
KLMG.L Sharpe Ratio Rank: 10
KLMG.L Sortino Ratio Rank: 9
KLMG.L Omega Ratio Rank: 9
KLMG.L Calmar Ratio Rank: 10
KLMG.L Martin Ratio Rank: 10

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

V3GD.L vs. KLMG.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 Lyxor Green Bond UCITS ETF GBP Hedged Dist (KLMG.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	KLMG.L	Difference
Sharpe ratio: Return per unit of total volatility	1.23	-0.07	+1.30
Sortino ratio: Return per unit of downside risk	1.82	-0.03	+1.86
Omega ratio: Gain probability vs. loss probability	1.22	1.00	+0.22
Calmar ratio: Return relative to maximum drawdown	1.78	-0.10	+1.88
Martin ratio: Return relative to average drawdown	5.96	-0.23	+6.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

V3GD.L vs. KLMG.L - Sharpe Ratio Comparison

The current V3GD.L Sharpe Ratio is 1.23, which is higher than the KLMG.L Sharpe Ratio of -0.07. The chart below compares the historical Sharpe Ratios of V3GD.L and KLMG.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	V3GD.L	KLMG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	-0.07	+1.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	-0.23	+0.43
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	-0.12	+0.33

Drawdowns

V3GD.L vs. KLMG.L - Drawdown Comparison

The maximum V3GD.L drawdown since its inception was -19.16%, smaller than the maximum KLMG.L drawdown of -39.56%. Use the drawdown chart below to compare losses from any high point for V3GD.L and KLMG.L.

Drawdown Indicators

	V3GD.L	KLMG.L	Difference
Max Drawdown Largest peak-to-trough decline	-19.16%	-39.56%	+20.40%
Max Drawdown (1Y) Largest decline over 1 year	-2.54%	-5.94%	+3.40%
Max Drawdown (3Y) Largest decline over 3 years	-3.65%	-10.52%	+6.87%
Max Drawdown (5Y) Largest decline over 5 years	-19.16%	-39.56%	+20.40%
Current Drawdown Current decline from peak	-0.59%	-13.26%	+12.67%
Average Drawdown Average peak-to-trough decline	-6.40%	-16.59%	+10.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.76%	2.57%	-1.81%

Volatility

V3GD.L vs. KLMG.L - Volatility Comparison

The current volatility for Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Distributing (V3GD.L) is 1.47%, while Lyxor Green Bond UCITS ETF GBP Hedged Dist (KLMG.L) has a volatility of 2.98%. This indicates that V3GD.L experiences smaller price fluctuations and is considered to be less risky than KLMG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	V3GD.L	KLMG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.47%	2.98%	-1.51%
Volatility (6M) Calculated over the trailing 6-month period	2.85%	6.78%	-3.93%
Volatility (1Y) Calculated over the trailing 1-year period	3.69%	8.80%	-5.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.49%	11.35%	-5.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.48%	10.97%	-5.49%

V3GD.L vs. KLMG.L - Expense Ratio Comparison

V3GD.L has a 0.15% expense ratio, which is lower than KLMG.L's 0.30% expense ratio.

Dividends

V3GD.L vs. KLMG.L - Dividend Comparison

V3GD.L's dividend yield for the trailing twelve months is around 4.37%, while KLMG.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
KLMG.L Lyxor Green Bond UCITS ETF GBP Hedged Dist	0.00%	0.00%	2.02%	1.44%	1.28%	1.03%
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

Can I hold both V3GD.L and KLMG.L in my portfolio?

V3GD.L and KLMG.L have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, V3GD.L or KLMG.L?

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.

Which ETF is cheaper, V3GD.L or KLMG.L?

V3GD.L is cheaper with a 0.15% expense ratio, compared with 0.30% for KLMG.L.

What is the main difference between V3GD.L and KLMG.L?

V3GD.L tracks Bloomberg Gbl Agg Corp 0901 TR Hdg USD, while KLMG.L tracks Bloomberg Gbl Agg Corp TR Hdg GBP. They also come from different issuers: Vanguard and Amundi. Their fees differ too: 0.15% for V3GD.L and 0.30% for KLMG.L.