VAGF.DE vs. EXCS.L
VAGF.DE (Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Acc) and EXCS.L (iShares MSCI EM ex-China UCITS ETF USD (Acc)) are both exchange-traded funds - VAGF.DE is a Global Bonds fund tracking the Bloomberg Global Aggregate Float Adjusted and Scaled (EUR Hedged), while EXCS.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD. Both are passively managed. Over the past 3 years, VAGF.DE returned 2.14%/yr vs 23.81%/yr for EXCS.L. At a 0.06 correlation, their price movements are largely independent. VAGF.DE charges 0.10%/yr vs 0.18%/yr for EXCS.L.
Performance
VAGF.DE vs. EXCS.L - Performance Comparison
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Different Trading Currencies
VAGF.DE is traded in EUR, while EXCS.L is traded in GBP. To make them comparable, the EXCS.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, VAGF.DE achieves a -0.46% return, which is significantly lower than EXCS.L's 38.76% return.
VAGF.DE
- 1D
- 0.47%
- 1M
- 0.21%
- YTD
- -0.46%
- 6M
- -0.42%
- 1Y
- 1.28%
- 3Y*
- 2.14%
- 5Y*
- -1.75%
- 10Y*
- —
EXCS.L
- 1D
- 3.28%
- 1M
- 4.22%
- YTD
- 38.76%
- 6M
- 43.53%
- 1Y
- 66.03%
- 3Y*
- 23.81%
- 5Y*
- —
- 10Y*
- —
VAGF.DE vs. EXCS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VAGF.DE Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Acc | -0.46% | 3.03% | 0.83% | 4.52% | -14.84% | -0.54% |
EXCS.L iShares MSCI EM ex-China UCITS ETF USD (Acc) | 38.76% | 19.64% | 10.51% | 13.39% | -13.13% | -25.45% |
Correlation
The correlation between VAGF.DE and EXCS.L is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Nov 22, 2021 | 0.06 |
The correlation between VAGF.DE and EXCS.L shifts across timeframes, from 0.06 (all time) to 0.19 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VAGF.DE vs. EXCS.L — Risk / Return Rank
VAGF.DE
EXCS.L
VAGF.DE vs. EXCS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Acc (VAGF.DE) and iShares MSCI EM ex-China UCITS ETF USD (Acc) (EXCS.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| VAGF.DE | EXCS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.93 | ||
| Sortino ratioReturn per unit of downside risk | -3.70 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.56 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | 0.35 | 5.30 | -4.96 |
| Martin ratioReturn relative to average drawdown | 0.86 | 19.36 | -18.51 |
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Drawdowns
VAGF.DE vs. EXCS.L - Drawdown Comparison
The maximum VAGF.DE drawdown since its inception was -19.56%, smaller than the maximum EXCS.L drawdown of -36.91%. Use the drawdown chart below to compare losses from any high point for VAGF.DE and EXCS.L.
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Drawdown Indicators
| VAGF.DE | EXCS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.56% | -36.91% | +17.35% |
Max Drawdown (1Y)Largest decline over 1 year | -2.82% | -12.08% | +9.26% |
Max Drawdown (3Y)Largest decline over 3 years | -4.43% | -19.99% | +15.56% |
Max Drawdown (5Y)Largest decline over 5 years | -18.80% | — | — |
Current DrawdownCurrent decline from peak | -10.70% | -3.41% | -7.29% |
Average DrawdownAverage peak-to-trough decline | -8.98% | -22.29% | +13.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.14% | 3.31% | -2.17% |
Volatility
VAGF.DE vs. EXCS.L - Volatility Comparison
The current volatility for Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Acc (VAGF.DE) is 1.56%, while iShares MSCI EM ex-China UCITS ETF USD (Acc) (EXCS.L) has a volatility of 9.03%. This indicates that VAGF.DE experiences smaller price fluctuations and is considered to be less risky than EXCS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VAGF.DE | EXCS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.56% | 9.03% | -7.47% |
Volatility (6M)Calculated over the trailing 6-month period | 3.87% | 17.89% | -14.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.21% | 20.57% | -15.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.18% | 24.57% | -19.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.92% | 24.57% | -19.65% |
VAGF.DE vs. EXCS.L - Expense Ratio Comparison
VAGF.DE has a 0.10% expense ratio, which is lower than EXCS.L's 0.18% 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
VAGF.DE vs. EXCS.L - Dividend Comparison
Neither VAGF.DE nor EXCS.L has paid dividends to shareholders.
Frequently Asked Questions
VAGF.DE and EXCS.L have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VAGF.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VAGF.DE is cheaper with a 0.10% expense ratio, compared with 0.18% for EXCS.L.
VAGF.DE is categorized as Global Bonds, while EXCS.L is Emerging Markets Equities. VAGF.DE tracks Bloomberg Global Aggregate Float Adjusted and Scaled (EUR Hedged), while EXCS.L tracks MSCI EM NR USD. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.10% for VAGF.DE and 0.18% for EXCS.L.
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