VETY.L vs. GBPG.L

Last updated Jun 5, 2026

VETY.L (Vanguard EUR Eurozone Government Bond UCITS ETF Distributing) and GBPG.L (Goldman Sachs Access UK Gilts 1-10 Years UCITS ETF Class GBP (Dist)) are both European Government Bonds funds - VETY.L tracks the Bloomberg Euro Agg Govt TR EUR while GBPG.L tracks the FTSE Act UK Cnvt Gilts All Stocks TR GBP. Both are passively managed. Over the past 3 years, VETY.L returned 0.38%/yr vs 3.68%/yr for GBPG.L. A 0.62 correlation means they provide meaningful diversification when combined. Both charge a 0.07% expense ratio.

Performance

VETY.L vs. GBPG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Vanguard EUR Eurozone Government Bond UCITS ETF Distributing (VETY.L) and Goldman Sachs Access UK Gilts 1-10 Years UCITS ETF Class GBP (Dist) (GBPG.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VETY.L achieves a -2.03% return, which is significantly lower than GBPG.L's 3.08% return.

VETY.L

• 1D: 0.19%
• 1M: -0.19%
• YTD: -2.03%
• 6M: -2.18%
• 1Y: 0.09%
• 3Y*: 0.38%
• 5Y*: -3.27%
• 10Y*: 0.12%

GBPG.L

• 1D: 0.21%
• 1M: 0.55%
• YTD: 3.08%
• 6M: 0.27%
• 1Y: 3.00%
• 3Y*: 3.68%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

VETY.L vs. GBPG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
VETY.L Vanguard EUR Eurozone Government Bond UCITS ETF Distributing	-2.03%	2.82%	-5.14%	5.08%	-13.54%	-3.40%
GBPG.L Goldman Sachs Access UK Gilts 1-10 Years UCITS ETF Class GBP (Dist)	3.08%	2.23%	0.17%	4.28%	90.38%	-1.08%

Correlation

The correlation between VETY.L and GBPG.L is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (All Time) Calculated using the full available price history since Sep 10, 2021	0.62

The correlation between VETY.L and GBPG.L has been stable across timeframes, ranging from 0.54 to 0.62 - a consistent structural relationship.

Return for Risk

VETY.L vs. GBPG.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VETY.L

VETY.L Risk / Return Rank: 8
VETY.L Sharpe Ratio Rank: 9
VETY.L Sortino Ratio Rank: 8
VETY.L Omega Ratio Rank: 8
VETY.L Calmar Ratio Rank: 9
VETY.L Martin Ratio Rank: 9

GBPG.L

GBPG.L Risk / Return Rank: 19
GBPG.L Sharpe Ratio Rank: 17
GBPG.L Sortino Ratio Rank: 16
GBPG.L Omega Ratio Rank: 20
GBPG.L Calmar Ratio Rank: 21
GBPG.L Martin Ratio Rank: 21

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VETY.L vs. GBPG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard EUR Eurozone Government Bond UCITS ETF Distributing (VETY.L) and Goldman Sachs Access UK Gilts 1-10 Years UCITS ETF Class GBP (Dist) (GBPG.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.

	VETY.L	GBPG.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.04	0.49	-0.53
Sortino ratio: Return per unit of downside risk	-0.02	0.72	-0.74
Omega ratio: Gain probability vs. loss probability	1.00	1.12	-0.12
Calmar ratio: Return relative to maximum drawdown	-0.05	0.90	-0.95
Martin ratio: Return relative to average drawdown	-0.10	2.44	-2.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VETY.L vs. GBPG.L - Sharpe Ratio Comparison

The current VETY.L Sharpe Ratio is -0.04, which is lower than the GBPG.L Sharpe Ratio of 0.49. The chart below compares the historical Sharpe Ratios of VETY.L and GBPG.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VETY.L	GBPG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.04	0.49	-0.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.43	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.01	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.04	0.47	-0.42

Drawdowns

VETY.L vs. GBPG.L - Drawdown Comparison

The maximum VETY.L drawdown since its inception was -26.39%, which is greater than GBPG.L's maximum drawdown of -7.18%. Use the drawdown chart below to compare losses from any high point for VETY.L and GBPG.L.

Drawdown Indicators

	VETY.L	GBPG.L	Difference
Max Drawdown Largest peak-to-trough decline	-26.39%	-7.18%	-19.21%
Max Drawdown (1Y) Largest decline over 1 year	-5.11%	-3.16%	-1.95%
Max Drawdown (3Y) Largest decline over 3 years	-7.67%	-3.30%	-4.37%
Max Drawdown (5Y) Largest decline over 5 years	-20.49%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-26.39%	—	—
Current Drawdown Current decline from peak	-23.46%	-1.70%	-21.76%
Average Drawdown Average peak-to-trough decline	-12.50%	-1.69%	-10.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.44%	1.17%	+1.27%

Volatility

VETY.L vs. GBPG.L - Volatility Comparison

Vanguard EUR Eurozone Government Bond UCITS ETF Distributing (VETY.L) has a higher volatility of 1.84% compared to Goldman Sachs Access UK Gilts 1-10 Years UCITS ETF Class GBP (Dist) (GBPG.L) at 1.51%. This indicates that VETY.L's price experiences larger fluctuations and is considered to be riskier than GBPG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VETY.L	GBPG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.84%	1.51%	+0.33%
Volatility (6M) Calculated over the trailing 6-month period	4.28%	5.31%	-1.03%
Volatility (1Y) Calculated over the trailing 1-year period	5.64%	5.83%	-0.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.56%	35.50%	-27.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.54%	35.50%	-26.96%

VETY.L vs. GBPG.L - Expense Ratio Comparison

Both VETY.L and GBPG.L have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

VETY.L vs. GBPG.L - Dividend Comparison

VETY.L has not paid dividends to shareholders, while GBPG.L's dividend yield for the trailing twelve months is around 4.09%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
GBPG.L Goldman Sachs Access UK Gilts 1-10 Years UCITS ETF Class GBP (Dist)	4.09%	4.13%	4.10%	3.35%	62.57%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VETY.L Vanguard EUR Eurozone Government Bond UCITS ETF Distributing	0.00%	0.00%	0.28%	2.11%	0.54%	0.09%	0.17%	0.60%	0.63%	0.54%	0.37%

Frequently Asked Questions

Can I hold both VETY.L and GBPG.L in my portfolio?

VETY.L and GBPG.L have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VETY.L or GBPG.L?

Both ETFs have the same 0.07% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VETY.L or GBPG.L?

VETY.L and GBPG.L have the same expense ratio: 0.07% per year.

What is the main difference between VETY.L and GBPG.L?

VETY.L tracks Bloomberg Euro Agg Govt TR EUR, while GBPG.L tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP. They also come from different issuers: Vanguard and Goldman Sachs.