VAGS.L vs. EGOV.L
VAGS.L (Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Accumulating) and EGOV.L (UBS ETF (LU) J.P. Morgan Global Government ESG Liquid Bond UCITS ETF (USD) A-acc) are both Global Bonds funds - VAGS.L tracks the Bloomberg Global Aggregate TR Hdg GBP while EGOV.L tracks the Bloomberg Global Aggregate TR USD. Both are passively managed. Over the past 5 years, VAGS.L returned 1.48%/yr vs -2.09%/yr for EGOV.L. At a 0.49 correlation, their price movements are largely independent. VAGS.L charges 0.10%/yr vs 0.15%/yr for EGOV.L.
Performance
VAGS.L vs. EGOV.L - Performance Comparison
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Different Trading Currencies
VAGS.L is traded in GBP, while EGOV.L is traded in GBp. To make them comparable, the EGOV.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, VAGS.L achieves a -0.19% return, which is significantly higher than EGOV.L's -1.22% return.
VAGS.L
- 1D
- -0.39%
- 1M
- -0.31%
- YTD
- -0.19%
- 6M
- 0.12%
- 1Y
- 2.91%
- 3Y*
- 5.77%
- 5Y*
- 1.48%
- 10Y*
- —
EGOV.L
- 1D
- -0.11%
- 1M
- -0.04%
- YTD
- -1.22%
- 6M
- -1.50%
- 1Y
- 0.61%
- 3Y*
- -0.89%
- 5Y*
- -2.09%
- 10Y*
- —
VAGS.L vs. EGOV.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VAGS.L Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Accumulating | -0.19% | 6.58% | 5.57% | 8.56% | -12.52% | -1.30% | 6.71% | -0.13% |
EGOV.L UBS ETF (LU) J.P. Morgan Global Government ESG Liquid Bond UCITS ETF (USD) A-acc | -1.22% | 0.21% | -2.55% | -1.25% | -7.09% | -5.75% | 5.54% | -1.92% |
Correlation
The correlation between VAGS.L and EGOV.L is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Oct 23, 2019 | 0.49 |
The correlation between VAGS.L and EGOV.L shifts across timeframes, from 0.49 (all time) to 0.60 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VAGS.L vs. EGOV.L — Risk / Return Rank
VAGS.L
EGOV.L
VAGS.L vs. EGOV.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Accumulating (VAGS.L) and UBS ETF (LU) J.P. Morgan Global Government ESG Liquid Bond UCITS ETF (USD) A-acc (EGOV.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.
| VAGS.L | EGOV.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.69 | ||
| Sortino ratioReturn per unit of downside risk | +0.96 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.03 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 0.14 | +0.95 |
| Martin ratioReturn relative to average drawdown | 3.16 | 0.27 | +2.89 |
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
| VAGS.L | EGOV.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.82 | 0.13 | +0.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.30 | -0.13 | +0.43 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | -0.14 | +0.57 |
Drawdowns
VAGS.L vs. EGOV.L - Drawdown Comparison
The maximum VAGS.L drawdown since its inception was -16.34%, smaller than the maximum EGOV.L drawdown of -25.11%. Use the drawdown chart below to compare losses from any high point for VAGS.L and EGOV.L.
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Drawdown Indicators
| VAGS.L | EGOV.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.34% | -25.11% | +8.77% |
Max Drawdown (1Y)Largest decline over 1 year | -2.67% | -4.49% | +1.82% |
Max Drawdown (3Y)Largest decline over 3 years | -3.39% | -21.20% | +17.81% |
Max Drawdown (5Y)Largest decline over 5 years | -16.34% | -21.20% | +4.86% |
Current DrawdownCurrent decline from peak | -1.68% | -23.05% | +21.37% |
Average DrawdownAverage peak-to-trough decline | -4.12% | -16.50% | +12.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 2.26% | -1.34% |
Volatility
VAGS.L vs. EGOV.L - Volatility Comparison
Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Accumulating (VAGS.L) has a higher volatility of 1.45% compared to UBS ETF (LU) J.P. Morgan Global Government ESG Liquid Bond UCITS ETF (USD) A-acc (EGOV.L) at 1.28%. This indicates that VAGS.L's price experiences larger fluctuations and is considered to be riskier than EGOV.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VAGS.L | EGOV.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.45% | 1.28% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.79% | 3.31% | -0.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.54% | 4.51% | -0.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.90% | 16.40% | -11.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.60% | 15.15% | -10.55% |
VAGS.L vs. EGOV.L - Expense Ratio Comparison
VAGS.L has a 0.10% expense ratio, which is lower than EGOV.L's 0.15% 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
VAGS.L vs. EGOV.L - Dividend Comparison
Neither VAGS.L nor EGOV.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
EGOV.L UBS ETF (LU) J.P. Morgan Global Government ESG Liquid Bond UCITS ETF (USD) A-acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VAGS.L Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Accumulating | 0.00% | 1.43% | 3.03% | 2.33% | 1.45% | 0.87% | 1.08% | 0.10% |
Frequently Asked Questions
VAGS.L and EGOV.L have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VAGS.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VAGS.L is cheaper with a 0.10% expense ratio, compared with 0.15% for EGOV.L.
VAGS.L tracks Bloomberg Global Aggregate TR Hdg GBP, while EGOV.L tracks Bloomberg Global Aggregate TR USD. They also come from different issuers: Vanguard and UBS. Their fees differ too: 0.10% for VAGS.L and 0.15% for EGOV.L.
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