VAGS.L vs. IGL5.L
VAGS.L (Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Accumulating) and IGL5.L (iShares UK Gilts 0-5yr UCITS ETF GBP (Acc)) are both exchange-traded funds - VAGS.L is a Global Bonds fund tracking the Bloomberg Global Aggregate TR Hdg GBP, while IGL5.L is a European Government Bonds fund tracking the FTSE Actuaries UK Conventional Gilts up to 5 Years Index (GBP). Both are passively managed. Over the past 3 years, VAGS.L returned 3.76%/yr vs 4.23%/yr for IGL5.L. A 0.65 correlation means they provide meaningful diversification when combined. VAGS.L charges 0.10%/yr vs 0.07%/yr for IGL5.L.
Performance
VAGS.L vs. IGL5.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 IGL5.L's 0.92% 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*
- —
IGL5.L
- 1D
- 0.09%
- 1M
- 0.39%
- YTD
- 0.92%
- 6M
- 0.73%
- 1Y
- 3.04%
- 3Y*
- 4.23%
- 5Y*
- —
- 10Y*
- —
VAGS.L vs. IGL5.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% | 4.22% |
IGL5.L iShares UK Gilts 0-5yr UCITS ETF GBP (Acc) | 0.92% | 4.56% | 2.68% | 4.14% |
Correlation
The correlation between VAGS.L and IGL5.L is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since May 24, 2023 | 0.65 |
The correlation between VAGS.L and IGL5.L has been stable across timeframes, ranging from 0.61 to 0.65 - a consistent structural relationship.
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Return for Risk
VAGS.L vs. IGL5.L — Risk / Return Rank
VAGS.L
IGL5.L
VAGS.L vs. IGL5.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 iShares UK Gilts 0-5yr UCITS ETF GBP (Acc) (IGL5.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 | IGL5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.30 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.17 | 1.63 | -0.47 |
| Martin ratioReturn relative to average drawdown | 3.41 | 5.55 | -2.14 |
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 | IGL5.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.89 | 1.48 | -0.59 |
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 | 1.88 | -1.76 |
Drawdowns
VAGS.L vs. IGL5.L - Drawdown Comparison
The maximum VAGS.L drawdown since its inception was -17.99%, which is greater than IGL5.L's maximum drawdown of -1.89%. Use the drawdown chart below to compare losses from any high point for VAGS.L and IGL5.L.
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Drawdown Indicators
| VAGS.L | IGL5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.99% | -1.89% | -16.10% |
Max Drawdown (1Y)Largest decline over 1 year | -2.67% | -1.89% | -0.78% |
Max Drawdown (3Y)Largest decline over 3 years | -3.93% | -1.89% | -2.04% |
Max Drawdown (5Y)Largest decline over 5 years | -17.60% | — | — |
Current DrawdownCurrent decline from peak | -3.70% | -0.64% | -3.06% |
Average DrawdownAverage peak-to-trough decline | -6.65% | -0.31% | -6.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.91% | 0.56% | +0.35% |
Volatility
VAGS.L vs. IGL5.L - Volatility Comparison
Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Accumulating (VAGS.L) has a higher volatility of 1.44% compared to iShares UK Gilts 0-5yr UCITS ETF GBP (Acc) (IGL5.L) at 0.70%. This indicates that VAGS.L's price experiences larger fluctuations and is considered to be riskier than IGL5.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 | IGL5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.44% | 0.70% | +0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 2.76% | 1.89% | +0.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.51% | 2.09% | +1.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.86% | 2.16% | +2.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.57% | 2.16% | +2.41% |
VAGS.L vs. IGL5.L - Expense Ratio Comparison
VAGS.L has a 0.10% expense ratio, which is higher than IGL5.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
VAGS.L vs. IGL5.L - Dividend Comparison
Neither VAGS.L nor IGL5.L has paid dividends to shareholders.
Frequently Asked Questions
VAGS.L and IGL5.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGL5.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGL5.L is cheaper with a 0.07% expense ratio, compared with 0.10% for VAGS.L.
VAGS.L is categorized as Global Bonds, while IGL5.L is European Government Bonds. VAGS.L tracks Bloomberg Global Aggregate TR Hdg GBP, while IGL5.L tracks FTSE Actuaries UK Conventional Gilts up to 5 Years Index (GBP). They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.10% for VAGS.L and 0.07% for IGL5.L.
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