V3GS.L vs. FSMP.L

Last updated Jun 5, 2026

V3GS.L (Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Accumulating) and FSMP.L (Fidelity Sustainable Global Corporate Bond Paris-Aligned Multifactor UCITS ETF ACC-GBP (hedged)) are both Global Corporate Bonds funds tracking the Bloomberg Gbl Agg Corp TR Hdg GBP, from Vanguard and Fidelity respectively. Both are passively managed. Over the past 5 years, V3GS.L returned 0.46%/yr vs 0.41%/yr for FSMP.L. Their correlation of 0.86 suggests significant overlap in exposure. V3GS.L charges 0.15%/yr vs 0.30%/yr for FSMP.L.

Performance

V3GS.L vs. FSMP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Accumulating (V3GS.L) and Fidelity Sustainable Global Corporate Bond Paris-Aligned Multifactor UCITS ETF ACC-GBP (hedged) (FSMP.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, V3GS.L achieves a 0.62% return, which is significantly higher than FSMP.L's 0.41% return.

V3GS.L

• 1D: 0.24%
• 1M: 0.84%
• YTD: 0.62%
• 6M: 0.78%
• 1Y: 4.39%
• 3Y*: 5.34%
• 5Y*: 0.46%
• 10Y*: —

FSMP.L

• 1D: 0.17%
• 1M: 0.83%
• YTD: 0.41%
• 6M: 0.66%
• 1Y: 4.52%
• 3Y*: 5.19%
• 5Y*: 0.41%
• 10Y*: —

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

V3GS.L vs. FSMP.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
V3GS.L Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Accumulating	0.62%	6.49%	3.15%	7.67%	-14.59%	1.06%
FSMP.L Fidelity Sustainable Global Corporate Bond Paris-Aligned Multifactor UCITS ETF ACC-GBP (hedged)	0.41%	6.37%	2.95%	8.01%	-15.03%	1.45%

Correlation

The correlation between V3GS.L and FSMP.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	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since May 26, 2021	0.86

The correlation between V3GS.L and FSMP.L has been stable across timeframes, ranging from 0.86 to 0.89 - a consistent structural relationship.

Return for Risk

V3GS.L vs. FSMP.L — Risk / Return Rank

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

V3GS.L

V3GS.L Risk / Return Rank: 33
V3GS.L Sharpe Ratio Rank: 32
V3GS.L Sortino Ratio Rank: 31
V3GS.L Omega Ratio Rank: 31
V3GS.L Calmar Ratio Rank: 34
V3GS.L Martin Ratio Rank: 37

FSMP.L

FSMP.L Risk / Return Rank: 34
FSMP.L Sharpe Ratio Rank: 34
FSMP.L Sortino Ratio Rank: 34
FSMP.L Omega Ratio Rank: 31
FSMP.L Calmar Ratio Rank: 34
FSMP.L Martin Ratio Rank: 35

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.

V3GS.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 GBP Hedged Accumulating (V3GS.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.

	V3GS.L	FSMP.L	Difference
Sharpe ratio: Return per unit of total volatility	1.14	1.18	-0.04
Sortino ratio: Return per unit of downside risk	1.65	1.76	-0.11
Omega ratio: Gain probability vs. loss probability	1.20	1.21	-0.01
Calmar ratio: Return relative to maximum drawdown	1.67	1.64	+0.04
Martin ratio: Return relative to average drawdown	5.58	5.28	+0.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

V3GS.L vs. FSMP.L - Sharpe Ratio Comparison

The current V3GS.L Sharpe Ratio is 1.14, which is comparable to the FSMP.L Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of V3GS.L and FSMP.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

	V3GS.L	FSMP.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.14	1.18	-0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.08	0.07	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	0.14	-0.05

Drawdowns

V3GS.L vs. FSMP.L - Drawdown Comparison

The maximum V3GS.L drawdown since its inception was -20.17%, roughly equal to the maximum FSMP.L drawdown of -20.12%. Use the drawdown chart below to compare losses from any high point for V3GS.L and FSMP.L.

Drawdown Indicators

	V3GS.L	FSMP.L	Difference
Max Drawdown Largest peak-to-trough decline	-20.17%	-20.12%	-0.05%
Max Drawdown (1Y) Largest decline over 1 year	-2.61%	-2.75%	+0.14%
Max Drawdown (3Y) Largest decline over 3 years	-3.80%	-4.39%	+0.59%
Max Drawdown (5Y) Largest decline over 5 years	-20.17%	-20.12%	-0.05%
Current Drawdown Current decline from peak	-0.61%	-0.63%	+0.02%
Average Drawdown Average peak-to-trough decline	-7.82%	-7.68%	-0.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.78%	0.85%	-0.07%

Volatility

V3GS.L vs. FSMP.L - Volatility Comparison

Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Accumulating (V3GS.L) and Fidelity Sustainable Global Corporate Bond Paris-Aligned Multifactor UCITS ETF ACC-GBP (hedged) (FSMP.L) have volatilities of 1.56% and 1.56%, 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

	V3GS.L	FSMP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.56%	1.56%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	3.02%	3.03%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	3.84%	3.83%	+0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.55%	5.91%	-0.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.55%	5.91%	-0.36%

V3GS.L vs. FSMP.L - Expense Ratio Comparison

V3GS.L has a 0.15% expense ratio, which is lower than FSMP.L's 0.30% expense ratio.

Dividends

V3GS.L vs. FSMP.L - Dividend Comparison

Neither V3GS.L nor FSMP.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both V3GS.L and FSMP.L in my portfolio?

V3GS.L and FSMP.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.

Which ETF is better, V3GS.L or FSMP.L?

On fees, V3GS.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, V3GS.L or FSMP.L?

V3GS.L is cheaper with a 0.15% expense ratio, compared with 0.30% for FSMP.L.

What is the main difference between V3GS.L and FSMP.L?

Both ETFs track Bloomberg Gbl Agg Corp TR Hdg GBP. They also come from different issuers: Vanguard and Fidelity. Their fees differ too: 0.15% for V3GS.L and 0.30% for FSMP.L.