V3GS.L vs. V3GP.L
V3GS.L (Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Accumulating) and V3GP.L (Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Distributing) are both Global Corporate Bonds funds from Vanguard tracking the Bloomberg Gbl Agg Corp TR Hdg GBP. Both are passively managed. Over the past 5 years, V3GS.L returned 0.46%/yr vs 0.47%/yr for V3GP.L. With a 0.96 correlation, they move nearly in lockstep. Both charge a 0.15% expense ratio.
Performance
V3GS.L vs. V3GP.L - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with V3GS.L having a 0.62% return and V3GP.L slightly lower at 0.59%.
V3GS.L
- 1D
- 0.24%
- 1M
- 0.84%
- YTD
- 0.62%
- 6M
- 0.78%
- 1Y
- 4.39%
- 3Y*
- 5.34%
- 5Y*
- 0.46%
- 10Y*
- —
V3GP.L
- 1D
- 0.23%
- 1M
- 0.75%
- YTD
- 0.59%
- 6M
- 0.77%
- 1Y
- 4.36%
- 3Y*
- 5.34%
- 5Y*
- 0.47%
- 10Y*
- —
V3GS.L vs. V3GP.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% |
V3GP.L Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Distributing | 0.59% | 6.20% | 3.56% | 7.64% | -14.57% | 1.05% |
Correlation
The correlation between V3GS.L and V3GP.L is 0.90, 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 | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since May 26, 2021 | 0.96 |
The correlation between V3GS.L and V3GP.L has been stable across timeframes, ranging from 0.90 to 0.96 - a consistent structural relationship.
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Return for Risk
V3GS.L vs. V3GP.L — Risk / Return Rank
V3GS.L
V3GP.L
V3GS.L vs. V3GP.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 Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Distributing (V3GP.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 | V3GP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.21 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | 1.63 | +0.05 |
| Martin ratioReturn relative to average drawdown | 5.58 | 5.57 | +0.01 |
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
| V3GS.L | V3GP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.14 | 1.21 | -0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | 0.09 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.10 | 0.10 | 0.00 |
Drawdowns
V3GS.L vs. V3GP.L - Drawdown Comparison
The maximum V3GS.L drawdown since its inception was -20.17%, roughly equal to the maximum V3GP.L drawdown of -20.15%. Use the drawdown chart below to compare losses from any high point for V3GS.L and V3GP.L.
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Drawdown Indicators
| V3GS.L | V3GP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.17% | -20.15% | -0.02% |
Max Drawdown (1Y)Largest decline over 1 year | -2.61% | -2.67% | +0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -3.80% | -3.83% | +0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -20.17% | -20.15% | -0.02% |
Current DrawdownCurrent decline from peak | -0.61% | -0.64% | +0.03% |
Average DrawdownAverage peak-to-trough decline | -7.82% | -7.78% | -0.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 0.78% | 0.00% |
Volatility
V3GS.L vs. V3GP.L - Volatility Comparison
Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Accumulating (V3GS.L) has a higher volatility of 1.56% compared to Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Distributing (V3GP.L) at 1.43%. This indicates that V3GS.L's price experiences larger fluctuations and is considered to be riskier than V3GP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| V3GS.L | V3GP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.56% | 1.43% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 3.02% | 2.80% | +0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.84% | 3.60% | +0.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.55% | 5.42% | +0.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.55% | 5.42% | +0.13% |
V3GS.L vs. V3GP.L - Expense Ratio Comparison
Both V3GS.L and V3GP.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
V3GS.L vs. V3GP.L - Dividend Comparison
V3GS.L has not paid dividends to shareholders, while V3GP.L's dividend yield for the trailing twelve months is around 4.37%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
V3GP.L Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Distributing | 4.37% | 4.43% | 4.36% | 4.10% | 2.48% | 0.71% |
V3GS.L Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.90, V3GS.L and V3GP.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.
Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
V3GS.L and V3GP.L have the same expense ratio: 0.15% per year.
Both ETFs track Bloomberg Gbl Agg Corp TR Hdg GBP.
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