VAGS.L vs. HBKS.L
VAGS.L (Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Accumulating) and HBKS.L (HSBC Global Sukuk UCITS ETF C USD) are both Global Bonds funds - VAGS.L tracks the Bloomberg Global Aggregate TR Hdg GBP while HBKS.L tracks the FTSE IdealRatings Sukuk Index. Both are passively managed. Over the past year, VAGS.L returned 3.31% vs 5.15% for HBKS.L. At a correlation of -0.01, they often move in opposite directions. VAGS.L charges 0.10%/yr vs 0.40%/yr for HBKS.L.
Performance
VAGS.L vs. HBKS.L - Performance Comparison
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Returns By Period
In the year-to-date period, VAGS.L achieves a 0.19% return, which is significantly lower than HBKS.L's 0.69% return.
VAGS.L
- 1D
- 0.14%
- 1M
- 0.08%
- YTD
- 0.19%
- 6M
- 0.50%
- 1Y
- 3.31%
- 3Y*
- 3.76%
- 5Y*
- -0.25%
- 10Y*
- —
HBKS.L
- 1D
- 0.31%
- 1M
- 1.44%
- YTD
- 0.69%
- 6M
- -0.75%
- 1Y
- 5.15%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VAGS.L vs. HBKS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
VAGS.L Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Accumulating | 0.19% | 4.96% | 2.39% | 4.93% |
HBKS.L HSBC Global Sukuk UCITS ETF C USD | 0.69% | -0.34% | 4.48% | 1.79% |
Correlation
The correlation between VAGS.L and HBKS.L is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023 | -0.01 |
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Return for Risk
VAGS.L vs. HBKS.L — Risk / Return Rank
VAGS.L
HBKS.L
VAGS.L vs. HBKS.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 HSBC Global Sukuk UCITS ETF C USD (HBKS.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 | HBKS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.13 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.17 | 0.96 | +0.21 |
| Martin ratioReturn relative to average drawdown | 3.41 | 2.08 | +1.33 |
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 | HBKS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.89 | 0.73 | +0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.05 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.35 | -0.23 |
Drawdowns
VAGS.L vs. HBKS.L - Drawdown Comparison
The maximum VAGS.L drawdown since its inception was -17.99%, which is greater than HBKS.L's maximum drawdown of -8.09%. Use the drawdown chart below to compare losses from any high point for VAGS.L and HBKS.L.
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Drawdown Indicators
| VAGS.L | HBKS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.99% | -8.09% | -9.90% |
Max Drawdown (1Y)Largest decline over 1 year | -2.67% | -5.33% | +2.66% |
Max Drawdown (3Y)Largest decline over 3 years | -3.93% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -17.60% | — | — |
Current DrawdownCurrent decline from peak | -3.70% | -2.83% | -0.87% |
Average DrawdownAverage peak-to-trough decline | -6.65% | -2.41% | -4.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.91% | 2.46% | -1.55% |
Volatility
VAGS.L vs. HBKS.L - Volatility Comparison
The current volatility for Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Accumulating (VAGS.L) is 1.44%, while HSBC Global Sukuk UCITS ETF C USD (HBKS.L) has a volatility of 1.91%. This indicates that VAGS.L experiences smaller price fluctuations and is considered to be less risky than HBKS.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 | HBKS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.44% | 1.91% | -0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 2.76% | 5.27% | -2.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.51% | 7.00% | -3.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.86% | 6.93% | -2.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.57% | 6.93% | -2.36% |
VAGS.L vs. HBKS.L - Expense Ratio Comparison
VAGS.L has a 0.10% expense ratio, which is lower than HBKS.L's 0.40% expense ratio.
Dividends
VAGS.L vs. HBKS.L - Dividend Comparison
Neither VAGS.L nor HBKS.L has paid dividends to shareholders.
Frequently Asked Questions
VAGS.L and HBKS.L have a correlation of -0.09, 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 0.40% for HBKS.L.
VAGS.L tracks Bloomberg Global Aggregate TR Hdg GBP, while HBKS.L tracks FTSE IdealRatings Sukuk Index. They also come from different issuers: Vanguard and HSBC. Their fees differ too: 0.10% for VAGS.L and 0.40% for HBKS.L.
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