VGEA.DE vs. SYBG.DE
VGEA.DE (Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating) and SYBG.DE (SPDR Bloomberg UK Gilt UCITS ETF) are both European Government Bonds funds - VGEA.DE tracks the Bloomberg Euro Aggregate Treasury while SYBG.DE tracks the Bloomberg UK Gilt. Both are passively managed. Over the past 5 years, VGEA.DE returned -1.94%/yr vs -4.68%/yr for SYBG.DE. A 0.62 correlation means they provide meaningful diversification when combined. VGEA.DE charges 0.07%/yr vs 0.15%/yr for SYBG.DE.
Performance
VGEA.DE vs. SYBG.DE - Performance Comparison
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Returns By Period
In the year-to-date period, VGEA.DE achieves a 1.25% return, which is significantly lower than SYBG.DE's 1.73% return.
VGEA.DE
- 1D
- 0.08%
- 1M
- 0.87%
- YTD
- 1.25%
- 6M
- 1.42%
- 1Y
- 1.29%
- 3Y*
- 2.50%
- 5Y*
- -1.94%
- 10Y*
- —
SYBG.DE
- 1D
- 0.06%
- 1M
- 2.08%
- YTD
- 1.73%
- 6M
- 2.20%
- 1Y
- 1.77%
- 3Y*
- 2.55%
- 5Y*
- -4.68%
- 10Y*
- -1.64%
VGEA.DE vs. SYBG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VGEA.DE Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating | 1.25% | 0.67% | 1.54% | 6.93% | -18.29% | -3.31% | 4.79% | 5.96% |
SYBG.DE SPDR Bloomberg UK Gilt UCITS ETF | 1.73% | 0.15% | 0.07% | 5.36% | -28.98% | 2.15% | 2.00% | 8.66% |
Correlation
The correlation between VGEA.DE and SYBG.DE is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 2019 | 0.62 |
The correlation between VGEA.DE and SYBG.DE has been stable across timeframes, ranging from 0.62 to 0.72 - a consistent structural relationship.
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Return for Risk
VGEA.DE vs. SYBG.DE — Risk / Return Rank
VGEA.DE
SYBG.DE
VGEA.DE vs. SYBG.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VGEA.DE) and SPDR Bloomberg UK Gilt UCITS ETF (SYBG.DE). 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.
| VGEA.DE | SYBG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.04 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.37 | 0.33 | +0.05 |
| Martin ratioReturn relative to average drawdown | 0.96 | 0.77 | +0.19 |
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Drawdowns
VGEA.DE vs. SYBG.DE - Drawdown Comparison
The maximum VGEA.DE drawdown since its inception was -22.35%, smaller than the maximum SYBG.DE drawdown of -36.66%. Use the drawdown chart below to compare losses from any high point for VGEA.DE and SYBG.DE.
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Drawdown Indicators
| VGEA.DE | SYBG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.35% | -36.66% | +14.31% |
Max Drawdown (1Y)Largest decline over 1 year | -3.47% | -5.42% | +1.95% |
Max Drawdown (3Y)Largest decline over 3 years | -3.92% | -8.78% | +4.86% |
Max Drawdown (5Y)Largest decline over 5 years | -21.48% | -36.25% | +14.77% |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.66% | — |
Current DrawdownCurrent decline from peak | -12.92% | -26.43% | +13.51% |
Average DrawdownAverage peak-to-trough decline | -10.35% | -13.42% | +3.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.35% | 2.08% | -0.73% |
Volatility
VGEA.DE vs. SYBG.DE - Volatility Comparison
The current volatility for Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VGEA.DE) is 1.03%, while SPDR Bloomberg UK Gilt UCITS ETF (SYBG.DE) has a volatility of 1.73%. This indicates that VGEA.DE experiences smaller price fluctuations and is considered to be less risky than SYBG.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGEA.DE | SYBG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 1.73% | -0.70% |
Volatility (6M)Calculated over the trailing 6-month period | 3.67% | 6.10% | -2.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.37% | 8.13% | -3.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.40% | 11.76% | -5.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.92% | 13.84% | -7.92% |
VGEA.DE vs. SYBG.DE - Expense Ratio Comparison
VGEA.DE has a 0.07% expense ratio, which is lower than SYBG.DE's 0.15% 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
VGEA.DE vs. SYBG.DE - Dividend Comparison
VGEA.DE has not paid dividends to shareholders, while SYBG.DE's dividend yield for the trailing twelve months is around 3.73%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SYBG.DE SPDR Bloomberg UK Gilt UCITS ETF | 3.73% | 3.64% | 2.65% | 1.69% | 1.22% | 0.82% | 1.11% | 1.14% | 1.27% | 1.60% | 1.77% | 1.89% |
VGEA.DE Vanguard EUR Eurozone Government Bond UCITS ETF 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
VGEA.DE and SYBG.DE have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGEA.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGEA.DE is cheaper with a 0.07% expense ratio, compared with 0.15% for SYBG.DE.
VGEA.DE tracks Bloomberg Euro Aggregate Treasury, while SYBG.DE tracks Bloomberg UK Gilt. They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.07% for VGEA.DE and 0.15% for SYBG.DE.
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