VAGU.L vs. HLQD.L
VAGU.L (Vanguard Global Aggregate Bond UCITS ETF USD Hedged Accumulating) and HLQD.L (iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Acc)) are both exchange-traded funds - VAGU.L is a Global Bonds fund tracking the Bloomberg Global Aggregate Float Adjusted and Scaled Index in USD, while HLQD.L is a USD Corporate Bond fund tracking the IBOXX US Dollar Liquid Investment Grade IR Hedged Index (USD). Both are passively managed. Over the past 5 years, VAGU.L returned 0.04%/yr vs 5.41%/yr for HLQD.L. At a correlation of -0.03, they often move in opposite directions. VAGU.L charges 0.10%/yr vs 0.25%/yr for HLQD.L.
Performance
VAGU.L vs. HLQD.L - Performance Comparison
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Returns By Period
In the year-to-date period, VAGU.L achieves a 0.37% return, which is significantly lower than HLQD.L's 2.24% return.
VAGU.L
- 1D
- 0.19%
- 1M
- -0.52%
- 6M
- 0.30%
- YTD
- 0.37%
- 1Y
- 3.17%
- 3Y*
- 3.94%
- 5Y*
- 0.04%
- 10Y*
- —
HLQD.L
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 1.96%
- YTD
- 2.24%
- 1Y
- 4.73%
- 3Y*
- 7.42%
- 5Y*
- 5.41%
- 10Y*
- —
VAGU.L vs. HLQD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VAGU.L Vanguard Global Aggregate Bond UCITS ETF USD Hedged Accumulating | 0.37% | 4.95% | 2.72% | 6.90% | -12.61% | -2.00% | 5.90% | 3.01% |
HLQD.L iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Acc) | 2.24% | 5.47% | 8.15% | 11.14% | 0.41% | 1.25% | 0.54% | 5.83% |
Correlation
The correlation between VAGU.L and HLQD.L is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2019 | -0.03 |
The correlation between VAGU.L and HLQD.L shifts across timeframes, from -0.03 (all time) to 0.10 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VAGU.L vs. HLQD.L — Risk / Return Rank
VAGU.L
HLQD.L
VAGU.L vs. HLQD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Global Aggregate Bond UCITS ETF USD Hedged Accumulating (VAGU.L) and iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Acc) (HLQD.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.
| VAGU.L | HLQD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.27 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.17 | 3.40 | -2.23 |
| Martin ratioReturn relative to average drawdown | 2.98 | 10.85 | -7.87 |
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Drawdowns
VAGU.L vs. HLQD.L - Drawdown Comparison
The maximum VAGU.L drawdown since its inception was -17.42%, smaller than the maximum HLQD.L drawdown of -21.96%. Use the drawdown chart below to compare losses from any high point for VAGU.L and HLQD.L.
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Drawdown Indicators
| VAGU.L | HLQD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.42% | -21.96% | +4.54% |
Max Drawdown (1Y)Largest decline over 1 year | -2.70% | -1.39% | -1.31% |
Max Drawdown (3Y)Largest decline over 3 years | -3.78% | -3.08% | -0.70% |
Max Drawdown (5Y)Largest decline over 5 years | -17.10% | -6.39% | -10.71% |
Current DrawdownCurrent decline from peak | -1.39% | -0.41% | -0.98% |
Average DrawdownAverage peak-to-trough decline | -5.44% | -1.33% | -4.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.06% | 0.44% | +0.62% |
Volatility
VAGU.L vs. HLQD.L - Volatility Comparison
Vanguard Global Aggregate Bond UCITS ETF USD Hedged Accumulating (VAGU.L) has a higher volatility of 1.06% compared to iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Acc) (HLQD.L) at 0.82%. This indicates that VAGU.L's price experiences larger fluctuations and is considered to be riskier than HLQD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VAGU.L | HLQD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 0.82% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 2.91% | 2.35% | +0.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.58% | 3.29% | +0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.19% | 4.36% | +0.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.77% | 6.08% | -1.31% |
VAGU.L vs. HLQD.L - Expense Ratio Comparison
VAGU.L has a 0.10% expense ratio, which is lower than HLQD.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
VAGU.L vs. HLQD.L - Dividend Comparison
Neither VAGU.L nor HLQD.L has paid dividends to shareholders.
Frequently Asked Questions
VAGU.L and HLQD.L have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VAGU.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VAGU.L is cheaper with a 0.10% expense ratio, compared with 0.25% for HLQD.L.
VAGU.L is categorized as Global Bonds, while HLQD.L is USD Corporate Bond. VAGU.L tracks Bloomberg Global Aggregate Float Adjusted and Scaled Index in USD, while HLQD.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 VAGU.L and 0.25% for HLQD.L.
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