VAGU.L vs. IRCP.L
VAGU.L (Vanguard Global Aggregate Bond UCITS ETF USD Hedged Accumulating) and IRCP.L (iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist)) 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 IRCP.L is a European Corporate Bonds fund tracking the Bloomberg MSCI EUR Corporate Interest Rate Hedged ESG SRI Index. Both are passively managed. Over the past 5 years, VAGU.L returned 0.04%/yr vs 2.09%/yr for IRCP.L. At a 0.13 correlation, their price movements are largely independent. VAGU.L charges 0.10%/yr vs 0.25%/yr for IRCP.L.
Performance
VAGU.L vs. IRCP.L - Performance Comparison
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Different Trading Currencies
VAGU.L is traded in USD, while IRCP.L is traded in EUR. To make them comparable, the IRCP.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, VAGU.L achieves a 0.37% return, which is significantly higher than IRCP.L's -1.23% 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*
- —
IRCP.L
- 1D
- -0.05%
- 1M
- -0.06%
- 6M
- -0.08%
- YTD
- -1.23%
- 1Y
- 1.61%
- 3Y*
- 5.78%
- 5Y*
- 2.09%
- 10Y*
- 1.95%
VAGU.L vs. IRCP.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% |
IRCP.L iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) | -1.23% | 18.21% | -0.11% | 8.46% | -8.58% | -7.04% | 9.77% | 1.92% |
Correlation
The correlation between VAGU.L and IRCP.L is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
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 | 0.13 |
The correlation between VAGU.L and IRCP.L shifts across timeframes, from 0.13 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VAGU.L vs. IRCP.L — Risk / Return Rank
VAGU.L
IRCP.L
VAGU.L vs. IRCP.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 ESG SRI UCITS ETF EUR (Dist) (IRCP.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 | IRCP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.65 | ||
| Sortino ratioReturn per unit of downside risk | +0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.04 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.17 | 0.28 | +0.89 |
| Martin ratioReturn relative to average drawdown | 2.98 | 0.65 | +2.33 |
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Drawdowns
VAGU.L vs. IRCP.L - Drawdown Comparison
The maximum VAGU.L drawdown since its inception was -17.42%, smaller than the maximum IRCP.L drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for VAGU.L and IRCP.L.
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Drawdown Indicators
| VAGU.L | IRCP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.42% | -33.94% | +16.52% |
Max Drawdown (1Y)Largest decline over 1 year | -2.70% | -5.66% | +2.96% |
Max Drawdown (3Y)Largest decline over 3 years | -3.78% | -6.44% | +2.66% |
Max Drawdown (5Y)Largest decline over 5 years | -17.10% | -24.27% | +7.17% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.61% | — |
Current DrawdownCurrent decline from peak | -1.39% | -3.96% | +2.57% |
Average DrawdownAverage peak-to-trough decline | -5.44% | -15.21% | +9.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.06% | 2.49% | -1.43% |
Volatility
VAGU.L vs. IRCP.L - Volatility Comparison
The current volatility for Vanguard Global Aggregate Bond UCITS ETF USD Hedged Accumulating (VAGU.L) is 1.06%, while iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) (IRCP.L) has a volatility of 1.60%. This indicates that VAGU.L experiences smaller price fluctuations and is considered to be less risky than IRCP.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 | IRCP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 1.60% | -0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 2.91% | 5.35% | -2.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.58% | 6.99% | -3.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.19% | 8.79% | -3.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.77% | 8.45% | -3.68% |
VAGU.L vs. IRCP.L - Expense Ratio Comparison
VAGU.L has a 0.10% expense ratio, which is lower than IRCP.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. IRCP.L - Dividend Comparison
VAGU.L has not paid dividends to shareholders, while IRCP.L's dividend yield for the trailing twelve months is around 2.58%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IRCP.L iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) | 2.58% | 2.91% | 3.70% | 2.52% | 0.43% | 0.70% | 0.82% | 0.92% | 0.58% | 0.71% | 1.35% | 1.47% |
VAGU.L Vanguard Global Aggregate Bond UCITS ETF USD Hedged Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VAGU.L and IRCP.L have a correlation of 0.32, 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 IRCP.L.
VAGU.L is categorized as Global Bonds, while IRCP.L is European Corporate Bonds. VAGU.L tracks Bloomberg Global Aggregate Float Adjusted and Scaled Index in USD, while IRCP.L tracks Bloomberg MSCI EUR Corporate Interest Rate Hedged ESG SRI Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.10% for VAGU.L and 0.25% for IRCP.L.
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