V3GD.L vs. V3GU.L

Last updated Jun 5, 2026

V3GD.L (Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Distributing) and V3GU.L (Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Accumulating) are both Global Corporate Bonds funds from Vanguard tracking the Bloomberg Gbl Agg Corp 0901 TR Hdg USD. Both are passively managed. Over the past 3 years, V3GD.L returned 5.67%/yr vs 5.68%/yr for V3GU.L. Their correlation of 0.87 suggests significant overlap in exposure. Both charge a 0.15% expense ratio.

Performance

V3GD.L vs. V3GU.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 Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Accumulating (V3GU.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with V3GD.L at 0.61% and V3GU.L at 0.61%.

V3GD.L

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

V3GU.L

• 1D: 0.21%
• 1M: 0.76%
• YTD: 0.61%
• 6M: 0.82%
• 1Y: 4.54%
• 3Y*: 5.68%
• 5Y*: —
• 10Y*: —

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

V3GD.L vs. V3GU.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%	-0.92%
V3GU.L Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Accumulating	0.61%	6.28%	3.97%	8.61%	-13.25%	-0.93%

Correlation

The correlation between V3GD.L and V3GU.L is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (All Time) Calculated using the full available price history since Aug 16, 2021	0.87

The correlation between V3GD.L and V3GU.L has been stable across timeframes, ranging from 0.87 to 0.94 - a consistent structural relationship.

Return for Risk

V3GD.L vs. V3GU.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

V3GU.L

V3GU.L Risk / Return Rank: 35
V3GU.L Sharpe Ratio Rank: 33
V3GU.L Sortino Ratio Rank: 34
V3GU.L Omega Ratio Rank: 33
V3GU.L Calmar Ratio Rank: 35
V3GU.L Martin Ratio Rank: 38

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. V3GU.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 Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Accumulating (V3GU.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	V3GU.L	Difference
Sharpe ratio: Return per unit of total volatility	1.23	1.19	+0.03
Sortino ratio: Return per unit of downside risk	1.82	1.77	+0.06
Omega ratio: Gain probability vs. loss probability	1.22	1.21	0.00
Calmar ratio: Return relative to maximum drawdown	1.78	1.68	+0.10
Martin ratio: Return relative to average drawdown	5.96	5.86	+0.10
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. V3GU.L - Sharpe Ratio Comparison

The current V3GD.L Sharpe Ratio is 1.23, which is comparable to the V3GU.L Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of V3GD.L and V3GU.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	V3GU.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	1.19	+0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.14	+0.07

Drawdowns

V3GD.L vs. V3GU.L - Drawdown Comparison

The maximum V3GD.L drawdown since its inception was -19.16%, roughly equal to the maximum V3GU.L drawdown of -18.89%. Use the drawdown chart below to compare losses from any high point for V3GD.L and V3GU.L.

Drawdown Indicators

	V3GD.L	V3GU.L	Difference
Max Drawdown Largest peak-to-trough decline	-19.16%	-18.89%	-0.27%
Max Drawdown (1Y) Largest decline over 1 year	-2.54%	-2.69%	+0.15%
Max Drawdown (3Y) Largest decline over 3 years	-3.65%	-3.67%	+0.02%
Max Drawdown (5Y) Largest decline over 5 years	-19.16%	—	—
Current Drawdown Current decline from peak	-0.59%	-0.58%	-0.01%
Average Drawdown Average peak-to-trough decline	-6.40%	-6.79%	+0.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.76%	0.77%	-0.01%

Volatility

V3GD.L vs. V3GU.L - Volatility Comparison

Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Distributing (V3GD.L) and Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Accumulating (V3GU.L) have volatilities of 1.47% and 1.45%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	V3GD.L	V3GU.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.47%	1.45%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	2.85%	2.97%	-0.12%
Volatility (1Y) Calculated over the trailing 1-year period	3.69%	3.80%	-0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.49%	6.13%	-0.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.48%	6.13%	-0.65%

V3GD.L vs. V3GU.L - Expense Ratio Comparison

Both V3GD.L and V3GU.L have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

V3GD.L vs. V3GU.L - Dividend Comparison

V3GD.L's dividend yield for the trailing twelve months is around 4.37%, while V3GU.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
V3GD.L Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Distributing	4.37%	4.45%	4.35%	4.05%	2.44%	0.70%
V3GU.L Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Accumulating	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both V3GD.L and V3GU.L in my portfolio?

With a correlation of 0.92, V3GD.L and V3GU.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, V3GD.L or V3GU.L?

Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, V3GD.L or V3GU.L?

V3GD.L and V3GU.L have the same expense ratio: 0.15% per year.

What is the main difference between V3GD.L and V3GU.L?

Both ETFs track Bloomberg Gbl Agg Corp 0901 TR Hdg USD.