VAGS.L vs. LQDH.L
VAGS.L (Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Accumulating) and LQDH.L (iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist)) are both exchange-traded funds - VAGS.L is a Global Bonds fund tracking the Bloomberg Global Aggregate TR Hdg GBP, while LQDH.L is a Global Corporate Bonds fund tracking the IBOXX US Dollar Liquid Investment Grade IR Hedged Index (USD). Both are passively managed. Over the past 5 years, VAGS.L returned 1.24%/yr vs 5.85%/yr for LQDH.L. At a correlation of -0.16, they often move in opposite directions. VAGS.L charges 0.10%/yr vs 0.25%/yr for LQDH.L.
Performance
VAGS.L vs. LQDH.L - Performance Comparison
Loading charts...
Different Trading Currencies
VAGS.L is traded in GBP, while LQDH.L is traded in USD. To make them comparable, the LQDH.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 0.12% return, which is significantly lower than LQDH.L's 2.61% return.
VAGS.L
- 1D
- 0.15%
- 1M
- -0.58%
- 6M
- 0.08%
- YTD
- 0.12%
- 1Y
- 2.94%
- 3Y*
- 5.61%
- 5Y*
- 1.24%
- 10Y*
- —
LQDH.L
- 1D
- 0.23%
- 1M
- -1.43%
- 6M
- 1.43%
- YTD
- 2.61%
- 1Y
- 4.32%
- 3Y*
- 6.30%
- 5Y*
- 5.85%
- 10Y*
- 4.13%
VAGS.L vs. LQDH.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VAGS.L Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Accumulating | 0.12% | 6.58% | 5.57% | 8.56% | -12.52% | -1.30% | 6.52% | 1.98% |
LQDH.L iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) | 2.61% | -2.55% | 10.16% | 5.96% | 12.21% | 1.87% | -2.19% | -0.04% |
Correlation
The correlation between VAGS.L and LQDH.L is -0.22, 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 | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.19 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2019 | -0.16 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VAGS.L vs. LQDH.L — Risk / Return Rank
VAGS.L
LQDH.L
VAGS.L vs. LQDH.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 $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) (LQDH.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| VAGS.L | LQDH.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.11 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.10 | 1.06 | +0.04 |
| Martin ratioReturn relative to average drawdown | 2.95 | 2.84 | +0.11 |
Loading charts...
Drawdowns
VAGS.L vs. LQDH.L - Drawdown Comparison
The maximum VAGS.L drawdown since its inception was -16.34%, smaller than the maximum LQDH.L drawdown of -17.83%. Use the drawdown chart below to compare losses from any high point for VAGS.L and LQDH.L.
Loading charts...
Drawdown Indicators
| VAGS.L | LQDH.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.34% | -17.83% | +1.49% |
Max Drawdown (1Y)Largest decline over 1 year | -2.67% | -4.07% | +1.40% |
Max Drawdown (3Y)Largest decline over 3 years | -3.35% | -9.62% | +6.27% |
Max Drawdown (5Y)Largest decline over 5 years | -16.34% | -10.90% | -5.44% |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.83% | — |
Current DrawdownCurrent decline from peak | -1.37% | -2.51% | +1.14% |
Average DrawdownAverage peak-to-trough decline | -4.07% | -4.31% | +0.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.00% | 1.52% | -0.52% |
Volatility
VAGS.L vs. LQDH.L - Volatility Comparison
The current volatility for Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Accumulating (VAGS.L) is 1.12%, while iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) (LQDH.L) has a volatility of 1.82%. This indicates that VAGS.L experiences smaller price fluctuations and is considered to be less risky than LQDH.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VAGS.L | LQDH.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 1.82% | -0.70% |
Volatility (6M)Calculated over the trailing 6-month period | 2.85% | 5.37% | -2.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.62% | 7.01% | -3.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.92% | 8.94% | -4.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.58% | 9.87% | -5.29% |
VAGS.L vs. LQDH.L - Expense Ratio Comparison
VAGS.L has a 0.10% expense ratio, which is lower than LQDH.L's 0.25% 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. LQDH.L - Dividend Comparison
VAGS.L has not paid dividends to shareholders, while LQDH.L's dividend yield for the trailing twelve months is around 4.33%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LQDH.L iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) | 4.33% | 4.66% | 5.52% | 4.83% | 2.07% | 1.55% | 2.45% | 3.52% | 2.87% | 2.14% | 2.46% | 3.25% |
VAGS.L Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Accumulating | 0.00% | 1.43% | 3.03% | 2.33% | 1.45% | 0.87% | 0.91% | 0.10% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VAGS.L and LQDH.L have a correlation of -0.22, 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 0.25% for LQDH.L.
VAGS.L is categorized as Global Bonds, while LQDH.L is Global Corporate Bonds. VAGS.L tracks Bloomberg Global Aggregate TR Hdg GBP, while LQDH.L tracks IBOXX US Dollar Liquid Investment Grade IR Hedged Index (USD). They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.10% for VAGS.L and 0.25% for LQDH.L.
Find the right allocation for VAGS.L and LQDH.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer