VAGS.L vs. VAGP.L
VAGS.L (Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Accumulating) and VAGP.L (Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing) are both Global Bonds funds from Vanguard tracking the Bloomberg Global Aggregate TR Hdg GBP. Both are passively managed. Over the past 5 years, VAGS.L returned 1.24%/yr vs -0.50%/yr for VAGP.L. Their correlation of 0.90 suggests significant overlap in exposure. Both charge a 0.10% expense ratio.
Performance
VAGS.L vs. VAGP.L - Performance Comparison
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Returns By Period
In the year-to-date period, VAGS.L achieves a 0.12% return, which is significantly lower than VAGP.L's 0.14% 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*
- —
VAGP.L
- 1D
- 0.09%
- 1M
- -0.55%
- 6M
- 0.06%
- YTD
- 0.14%
- 1Y
- 2.96%
- 3Y*
- 3.61%
- 5Y*
- -0.50%
- 10Y*
- —
VAGS.L vs. VAGP.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% |
VAGP.L Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing | 0.14% | 4.93% | 2.54% | 5.85% | -13.82% | -2.05% | 5.34% | 2.12% |
Correlation
The correlation between VAGS.L and VAGP.L is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2019 | 0.90 |
The correlation between VAGS.L and VAGP.L has been stable across timeframes, ranging from 0.86 to 0.91 - a consistent structural relationship.
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Return for Risk
VAGS.L vs. VAGP.L — Risk / Return Rank
VAGS.L
VAGP.L
VAGS.L vs. VAGP.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 Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing (VAGP.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 | VAGP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.15 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.10 | 1.06 | +0.04 |
| Martin ratioReturn relative to average drawdown | 2.95 | 2.85 | +0.10 |
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Drawdowns
VAGS.L vs. VAGP.L - Drawdown Comparison
The maximum VAGS.L drawdown since its inception was -16.34%, smaller than the maximum VAGP.L drawdown of -18.13%. Use the drawdown chart below to compare losses from any high point for VAGS.L and VAGP.L.
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Drawdown Indicators
| VAGS.L | VAGP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.34% | -18.13% | +1.79% |
Max Drawdown (1Y)Largest decline over 1 year | -2.67% | -2.77% | +0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -3.35% | -4.01% | +0.66% |
Max Drawdown (5Y)Largest decline over 5 years | -16.34% | -17.71% | +1.37% |
Current DrawdownCurrent decline from peak | -1.37% | -3.79% | +2.42% |
Average DrawdownAverage peak-to-trough decline | -4.07% | -6.61% | +2.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.00% | 1.04% | -0.04% |
Volatility
VAGS.L vs. VAGP.L - Volatility Comparison
Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Accumulating (VAGS.L) has a higher volatility of 1.12% compared to Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing (VAGP.L) at 0.96%. This indicates that VAGS.L's price experiences larger fluctuations and is considered to be riskier than VAGP.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 | VAGP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 0.96% | +0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 2.85% | 2.85% | 0.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.62% | 3.44% | +0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.92% | 4.80% | +0.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.58% | 4.48% | +0.10% |
VAGS.L vs. VAGP.L - Expense Ratio Comparison
Both VAGS.L and VAGP.L have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VAGS.L vs. VAGP.L - Dividend Comparison
VAGS.L has not paid dividends to shareholders, while VAGP.L's dividend yield for the trailing twelve months is around 3.55%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
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% |
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% |
Frequently Asked Questions
VAGS.L and VAGP.L have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.10% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
VAGS.L and VAGP.L have the same expense ratio: 0.10% per year.
Both ETFs track Bloomberg Global Aggregate TR Hdg GBP.
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