VAGP.L vs. VETY.L
VAGP.L (Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing) and VETY.L (Vanguard EUR Eurozone Government Bond UCITS ETF Distributing) are both exchange-traded funds - VAGP.L is a Global Bonds fund tracking the Bloomberg Global Aggregate TR Hdg GBP, while VETY.L is a European Government Bonds fund tracking the Bloomberg Euro Agg Govt TR EUR. Both are passively managed. Over the past 5 years, VAGP.L returned -0.24%/yr vs -3.27%/yr for VETY.L. A 0.57 correlation means they provide meaningful diversification when combined. VAGP.L charges 0.10%/yr vs 0.07%/yr for VETY.L.
Performance
VAGP.L vs. VETY.L - Performance Comparison
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Returns By Period
In the year-to-date period, VAGP.L achieves a 0.19% return, which is significantly higher than VETY.L's -2.03% 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*
- —
VETY.L
- 1D
- 0.19%
- 1M
- 0.54%
- YTD
- -2.03%
- 6M
- -2.33%
- 1Y
- -0.25%
- 3Y*
- 0.38%
- 5Y*
- -3.27%
- 10Y*
- 0.12%
VAGP.L vs. VETY.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% |
VETY.L Vanguard EUR Eurozone Government Bond UCITS ETF Distributing | -2.03% | 2.82% | -5.14% | 5.08% | -13.54% | -9.76% | 10.66% | -3.23% |
Correlation
The correlation between VAGP.L and VETY.L is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2019 | 0.57 |
The correlation between VAGP.L and VETY.L has been stable across timeframes, ranging from 0.56 to 0.63 - a consistent structural relationship.
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Return for Risk
VAGP.L vs. VETY.L — Risk / Return Rank
VAGP.L
VETY.L
VAGP.L vs. VETY.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 Vanguard EUR Eurozone Government Bond UCITS ETF Distributing (VETY.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 | VETY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.01 | ||
| Sortino ratioReturn per unit of downside risk | +1.41 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.00 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.15 | -0.05 | +1.20 |
| Martin ratioReturn relative to average drawdown | 3.41 | -0.10 | +3.51 |
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 | VETY.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.97 | -0.04 | +1.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.05 | -0.43 | +0.38 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.01 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.04 | +0.07 |
Drawdowns
VAGP.L vs. VETY.L - Drawdown Comparison
The maximum VAGP.L drawdown since its inception was -18.13%, smaller than the maximum VETY.L drawdown of -26.39%. Use the drawdown chart below to compare losses from any high point for VAGP.L and VETY.L.
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Drawdown Indicators
| VAGP.L | VETY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.13% | -26.39% | +8.26% |
Max Drawdown (1Y)Largest decline over 1 year | -2.80% | -5.11% | +2.31% |
Max Drawdown (3Y)Largest decline over 3 years | -4.04% | -7.67% | +3.63% |
Max Drawdown (5Y)Largest decline over 5 years | -17.70% | -20.49% | +2.79% |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.39% | — |
Current DrawdownCurrent decline from peak | -3.76% | -23.46% | +19.70% |
Average DrawdownAverage peak-to-trough decline | -6.70% | -12.50% | +5.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 2.44% | -1.49% |
Volatility
VAGP.L vs. VETY.L - Volatility Comparison
The current volatility for Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing (VAGP.L) is 1.43%, while Vanguard EUR Eurozone Government Bond UCITS ETF Distributing (VETY.L) has a volatility of 1.84%. This indicates that VAGP.L experiences smaller price fluctuations and is considered to be less risky than VETY.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 | VETY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.43% | 1.84% | -0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 2.79% | 4.28% | -1.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.35% | 5.64% | -2.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.78% | 7.56% | -2.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.50% | 8.54% | -4.04% |
VAGP.L vs. VETY.L - Expense Ratio Comparison
VAGP.L has a 0.10% expense ratio, which is higher than VETY.L's 0.07% expense ratio. However, 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. VETY.L - Dividend Comparison
VAGP.L's dividend yield for the trailing twelve months is around 3.55%, while VETY.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% |
VETY.L Vanguard EUR Eurozone Government Bond UCITS ETF Distributing | 0.00% | 0.00% | 0.28% | 2.11% | 0.54% | 0.09% | 0.17% | 0.60% | 0.63% | 0.54% | 0.37% |
Frequently Asked Questions
VAGP.L and VETY.L have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VETY.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VETY.L is cheaper with a 0.07% expense ratio, compared with 0.10% for VAGP.L.
VAGP.L is categorized as Global Bonds, while VETY.L is European Government Bonds. VAGP.L tracks Bloomberg Global Aggregate TR Hdg GBP, while VETY.L tracks Bloomberg Euro Agg Govt TR EUR. Their fees differ too: 0.10% for VAGP.L and 0.07% for VETY.L.
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