V3GD.L vs. XCO2.L

Last updated Jun 5, 2026

V3GD.L (Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Distributing) and XCO2.L (Lyxor Global Green Bond 1-10 Y (DR) UCITS ETF - Acc) are both Global Corporate Bonds funds - V3GD.L tracks the Bloomberg Gbl Agg Corp 0901 TR Hdg USD while XCO2.L tracks the Bloomberg Gbl Agg Corp TR USD. Both are passively managed. Over the past year, V3GD.L returned 4.54% vs 3.46% for XCO2.L. At a 0.48 correlation, their price movements are largely independent. Both charge a 0.15% expense ratio.

Performance

V3GD.L vs. XCO2.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 Global Green Bond 1-10 Y (DR) UCITS ETF - Acc (XCO2.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

V3GD.L is traded in USD, while XCO2.L is traded in GBP. To make them comparable, the XCO2.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 XCO2.L's -0.26% 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*: —

XCO2.L

• 1D: 0.32%
• 1M: 0.17%
• YTD: -0.26%
• 6M: 0.53%
• 1Y: 3.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

V3GD.L vs. XCO2.L - Yearly Performance Comparison

	2026 (YTD)	2025
V3GD.L Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Distributing	0.61%	4.68%
XCO2.L Lyxor Global Green Bond 1-10 Y (DR) UCITS ETF - Acc	-0.26%	4.26%

Correlation

The correlation between V3GD.L and XCO2.L is 0.52, 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	0.52
Correlation (All Time) Calculated using the full available price history since Apr 29, 2025	0.48

The correlation between V3GD.L and XCO2.L has been stable across timeframes, ranging from 0.48 to 0.52 - a consistent structural relationship.

Return for Risk

V3GD.L vs. XCO2.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

XCO2.L

XCO2.L Risk / Return Rank: 27
XCO2.L Sharpe Ratio Rank: 30
XCO2.L Sortino Ratio Rank: 30
XCO2.L Omega Ratio Rank: 28
XCO2.L Calmar Ratio Rank: 26
XCO2.L Martin Ratio Rank: 23

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. XCO2.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 Global Green Bond 1-10 Y (DR) UCITS ETF - Acc (XCO2.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	XCO2.L	Difference
Sharpe ratio: Return per unit of total volatility	1.23	0.50	+0.72
Sortino ratio: Return per unit of downside risk	1.82	0.77	+1.05
Omega ratio: Gain probability vs. loss probability	1.22	1.09	+0.13
Calmar ratio: Return relative to maximum drawdown	1.78	0.61	+1.17
Martin ratio: Return relative to average drawdown	5.96	1.76	+4.20
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. XCO2.L - Sharpe Ratio Comparison

The current V3GD.L Sharpe Ratio is 1.23, which is higher than the XCO2.L Sharpe Ratio of 0.50. The chart below compares the historical Sharpe Ratios of V3GD.L and XCO2.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	XCO2.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	0.50	+0.72
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	0.51	-0.30

Drawdowns

V3GD.L vs. XCO2.L - Drawdown Comparison

The maximum V3GD.L drawdown since its inception was -19.16%, which is greater than XCO2.L's maximum drawdown of -5.63%. Use the drawdown chart below to compare losses from any high point for V3GD.L and XCO2.L.

Drawdown Indicators

	V3GD.L	XCO2.L	Difference
Max Drawdown Largest peak-to-trough decline	-19.16%	-5.63%	-13.53%
Max Drawdown (1Y) Largest decline over 1 year	-2.54%	-5.63%	+3.09%
Max Drawdown (3Y) Largest decline over 3 years	-3.65%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.16%	—	—
Current Drawdown Current decline from peak	-0.59%	-3.03%	+2.44%
Average Drawdown Average peak-to-trough decline	-6.40%	-1.45%	-4.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.76%	1.96%	-1.20%

Volatility

V3GD.L vs. XCO2.L - Volatility Comparison

The current volatility for Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Distributing (V3GD.L) is 1.47%, while Lyxor Global Green Bond 1-10 Y (DR) UCITS ETF - Acc (XCO2.L) has a volatility of 1.96%. This indicates that V3GD.L experiences smaller price fluctuations and is considered to be less risky than XCO2.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	V3GD.L	XCO2.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.47%	1.96%	-0.49%
Volatility (6M) Calculated over the trailing 6-month period	2.85%	5.13%	-2.28%
Volatility (1Y) Calculated over the trailing 1-year period	3.69%	6.86%	-3.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.49%	7.09%	-1.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.48%	7.09%	-1.61%

V3GD.L vs. XCO2.L - Expense Ratio Comparison

Both V3GD.L and XCO2.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. XCO2.L - Dividend Comparison

V3GD.L's dividend yield for the trailing twelve months is around 4.37%, while XCO2.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%
XCO2.L Lyxor Global Green Bond 1-10 Y (DR) UCITS ETF - Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both V3GD.L and XCO2.L in my portfolio?

V3GD.L and XCO2.L have a correlation of 0.52, 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 XCO2.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 XCO2.L?

V3GD.L and XCO2.L have the same expense ratio: 0.15% per year.

What is the main difference between V3GD.L and XCO2.L?

V3GD.L tracks Bloomberg Gbl Agg Corp 0901 TR Hdg USD, while XCO2.L tracks Bloomberg Gbl Agg Corp TR USD. They also come from different issuers: Vanguard and Amundi.