VAGP.L vs. ENGY.L
VAGP.L (Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing) and ENGY.L (SPDR® MSCI Europe Energy UCITS ETF) are both exchange-traded funds - VAGP.L is a Global Bonds fund tracking the Bloomberg Global Aggregate TR Hdg GBP, while ENGY.L is a Energy Equities fund tracking the MSCI World/Energy NR USD. Both are passively managed. Over the past 5 years, VAGP.L returned -0.24%/yr vs 20.14%/yr for ENGY.L. At a correlation of -0.19, they often move in opposite directions. VAGP.L charges 0.10%/yr vs 0.18%/yr for ENGY.L.
Performance
VAGP.L vs. ENGY.L - Performance Comparison
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Different Trading Currencies
VAGP.L is traded in GBP, while ENGY.L is traded in EUR. To make them comparable, the ENGY.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, VAGP.L achieves a 0.19% return, which is significantly lower than ENGY.L's 33.72% return.
VAGP.L
- 1D
- 0.29%
- 1M
- 0.35%
- YTD
- 0.19%
- 6M
- 0.36%
- 1Y
- 3.24%
- 3Y*
- 3.74%
- 5Y*
- -0.24%
- 10Y*
- —
ENGY.L
- 1D
- -0.83%
- 1M
- -2.30%
- YTD
- 33.72%
- 6M
- 29.46%
- 1Y
- 58.29%
- 3Y*
- 17.64%
- 5Y*
- 20.14%
- 10Y*
- 12.60%
VAGP.L vs. ENGY.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VAGP.L Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing | 0.19% | 4.96% | 2.51% | 5.84% | -13.81% | -2.03% | 5.31% | 2.30% |
ENGY.L SPDR® MSCI Europe Energy UCITS ETF | 33.72% | 20.88% | -9.65% | 5.12% | 45.92% | 28.63% | -28.47% | -4.07% |
Correlation
The correlation between VAGP.L and ENGY.L is -0.25, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.19 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2019 | -0.19 |
The correlation between VAGP.L and ENGY.L shifts across timeframes, from -0.25 (1 year) to -0.15 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VAGP.L vs. ENGY.L — Risk / Return Rank
VAGP.L
ENGY.L
VAGP.L vs. ENGY.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing (VAGP.L) and SPDR® MSCI Europe Energy UCITS ETF (ENGY.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.
| VAGP.L | ENGY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.61 | ||
| Sortino ratioReturn per unit of downside risk | -1.66 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.45 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 1.15 | 4.81 | -3.66 |
| Martin ratioReturn relative to average drawdown | 3.41 | 14.43 | -11.02 |
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
| VAGP.L | ENGY.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.97 | 2.58 | -1.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.05 | 0.89 | -0.94 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.60 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.52 | -0.40 |
Drawdowns
VAGP.L vs. ENGY.L - Drawdown Comparison
The maximum VAGP.L drawdown since its inception was -18.13%, smaller than the maximum ENGY.L drawdown of -56.06%. Use the drawdown chart below to compare losses from any high point for VAGP.L and ENGY.L.
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Drawdown Indicators
| VAGP.L | ENGY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.13% | -56.06% | +37.93% |
Max Drawdown (1Y)Largest decline over 1 year | -2.80% | -12.05% | +9.25% |
Max Drawdown (3Y)Largest decline over 3 years | -4.04% | -26.58% | +22.54% |
Max Drawdown (5Y)Largest decline over 5 years | -17.70% | -26.58% | +8.88% |
Max Drawdown (10Y)Largest decline over 10 years | — | -56.06% | — |
Current DrawdownCurrent decline from peak | -3.76% | -7.25% | +3.49% |
Average DrawdownAverage peak-to-trough decline | -6.70% | -13.56% | +6.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 4.03% | -3.08% |
Volatility
VAGP.L vs. ENGY.L - Volatility Comparison
The current volatility for Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing (VAGP.L) is 1.43%, while SPDR® MSCI Europe Energy UCITS ETF (ENGY.L) has a volatility of 7.88%. This indicates that VAGP.L experiences smaller price fluctuations and is considered to be less risky than ENGY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VAGP.L | ENGY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.43% | 7.88% | -6.45% |
Volatility (6M)Calculated over the trailing 6-month period | 2.79% | 19.12% | -16.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.35% | 22.52% | -19.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.78% | 24.24% | -19.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.50% | 29.35% | -24.85% |
VAGP.L vs. ENGY.L - Expense Ratio Comparison
VAGP.L has a 0.10% expense ratio, which is lower than ENGY.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
VAGP.L vs. ENGY.L - Dividend Comparison
VAGP.L's dividend yield for the trailing twelve months is around 3.55%, while ENGY.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
ENGY.L SPDR® MSCI Europe Energy UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VAGP.L Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing | 3.55% | 3.50% | 3.08% | 2.37% | 1.46% | 0.86% | 1.21% | 0.59% |
Frequently Asked Questions
VAGP.L and ENGY.L have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VAGP.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VAGP.L is cheaper with a 0.10% expense ratio, compared with 0.18% for ENGY.L.
VAGP.L is categorized as Global Bonds, while ENGY.L is Energy Equities. VAGP.L tracks Bloomberg Global Aggregate TR Hdg GBP, while ENGY.L tracks MSCI World/Energy NR USD. They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.10% for VAGP.L and 0.18% for ENGY.L.
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