VAGE.DE vs. IS0Z.DE
VAGE.DE (Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Dist) and IS0Z.DE (iShares Global AAA-AA Government Bond UCITS ETF (Dist)) are both Global Bonds funds - VAGE.DE tracks the Bloomberg Global Aggregate Float Adjusted and Scaled (EUR Hedged) while IS0Z.DE tracks the Bloomberg Global Government AAA-AA Capped Bond. Both are passively managed. Over the past 5 years, VAGE.DE returned -1.65%/yr vs -2.11%/yr for IS0Z.DE. A 0.75 correlation means they provide meaningful diversification when combined. VAGE.DE charges 0.10%/yr vs 0.20%/yr for IS0Z.DE.
Performance
VAGE.DE vs. IS0Z.DE - Performance Comparison
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Returns By Period
In the year-to-date period, VAGE.DE achieves a -0.58% return, which is significantly lower than IS0Z.DE's 1.29% return.
VAGE.DE
- 1D
- 0.10%
- 1M
- 0.16%
- YTD
- -0.58%
- 6M
- -0.57%
- 1Y
- 1.21%
- 3Y*
- 2.06%
- 5Y*
- -1.65%
- 10Y*
- —
IS0Z.DE
- 1D
- 0.06%
- 1M
- 0.78%
- YTD
- 1.29%
- 6M
- 1.06%
- 1Y
- 0.23%
- 3Y*
- 1.18%
- 5Y*
- -2.11%
- 10Y*
- -0.58%
VAGE.DE vs. IS0Z.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VAGE.DE Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Dist | -0.58% | 3.25% | 0.73% | 4.48% | -14.75% | -2.80% | 4.86% | 0.33% |
IS0Z.DE iShares Global AAA-AA Government Bond UCITS ETF (Dist) | 1.29% | -1.88% | 0.75% | 4.39% | -16.12% | -0.07% | 2.03% | 0.99% |
Correlation
The correlation between VAGE.DE and IS0Z.DE is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2019 | 0.75 |
The correlation between VAGE.DE and IS0Z.DE has been stable across timeframes, ranging from 0.71 to 0.79 - a consistent structural relationship.
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Return for Risk
VAGE.DE vs. IS0Z.DE — Risk / Return Rank
VAGE.DE
IS0Z.DE
VAGE.DE vs. IS0Z.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Dist (VAGE.DE) and iShares Global AAA-AA Government Bond UCITS ETF (Dist) (IS0Z.DE). 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.
| VAGE.DE | IS0Z.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.01 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.38 | 0.09 | +0.29 |
| Martin ratioReturn relative to average drawdown | 1.08 | 0.19 | +0.89 |
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
| VAGE.DE | IS0Z.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.34 | 0.06 | +0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.35 | -0.34 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.19 | 0.05 | -0.24 |
Drawdowns
VAGE.DE vs. IS0Z.DE - Drawdown Comparison
The maximum VAGE.DE drawdown since its inception was -19.43%, smaller than the maximum IS0Z.DE drawdown of -21.02%. Use the drawdown chart below to compare losses from any high point for VAGE.DE and IS0Z.DE.
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Drawdown Indicators
| VAGE.DE | IS0Z.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.43% | -21.02% | +1.59% |
Max Drawdown (1Y)Largest decline over 1 year | -3.14% | -2.50% | -0.64% |
Max Drawdown (3Y)Largest decline over 3 years | -4.34% | -5.11% | +0.77% |
Max Drawdown (5Y)Largest decline over 5 years | -18.63% | -19.65% | +1.02% |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.02% | — |
Current DrawdownCurrent decline from peak | -10.62% | -15.06% | +4.44% |
Average DrawdownAverage peak-to-trough decline | -8.88% | -7.48% | -1.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.12% | 1.21% | -0.09% |
Volatility
VAGE.DE vs. IS0Z.DE - Volatility Comparison
The current volatility for Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Dist (VAGE.DE) is 1.42%, while iShares Global AAA-AA Government Bond UCITS ETF (Dist) (IS0Z.DE) has a volatility of 1.69%. This indicates that VAGE.DE experiences smaller price fluctuations and is considered to be less risky than IS0Z.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VAGE.DE | IS0Z.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.42% | 1.69% | -0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 2.96% | 3.07% | -0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.57% | 3.82% | -0.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.69% | 6.19% | -1.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.49% | 5.66% | -1.17% |
VAGE.DE vs. IS0Z.DE - Expense Ratio Comparison
VAGE.DE has a 0.10% expense ratio, which is lower than IS0Z.DE's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VAGE.DE vs. IS0Z.DE - Dividend Comparison
VAGE.DE's dividend yield for the trailing twelve months is around 3.60%, more than IS0Z.DE's 2.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IS0Z.DE iShares Global AAA-AA Government Bond UCITS ETF (Dist) | 2.67% | 2.51% | 2.30% | 1.57% | 0.80% | 0.47% | 0.62% | 0.88% | 0.90% | 0.82% | 0.84% | 1.06% |
VAGE.DE Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Dist | 3.60% | 3.51% | 3.13% | 2.39% | 1.47% | 0.87% | 1.20% | 0.60% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VAGE.DE and IS0Z.DE have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VAGE.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VAGE.DE is cheaper with a 0.10% expense ratio, compared with 0.20% for IS0Z.DE.
VAGE.DE tracks Bloomberg Global Aggregate Float Adjusted and Scaled (EUR Hedged), while IS0Z.DE tracks Bloomberg Global Government AAA-AA Capped Bond. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.10% for VAGE.DE and 0.20% for IS0Z.DE.
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