VGOV.DE vs. CBUS.DE
VGOV.DE (Vanguard UK Gilt UCITS ETF Distributing) and CBUS.DE (iShares Core UK Gilts UCITS ETF (EUR Hedged) Dist) are both European Government Bonds funds - VGOV.DE tracks the FTSE Act UK Cnvt Gilts All Stocks TR GBP while CBUS.DE tracks the FTSE Actuaries UK Conventional Gilts All Stocks (EUR Hedged). Both are passively managed. Over the past 3 years, VGOV.DE returned 2.00%/yr vs 0.65%/yr for CBUS.DE. Their correlation of 0.85 suggests significant overlap in exposure. VGOV.DE charges 0.07%/yr vs 0.09%/yr for CBUS.DE.
Performance
VGOV.DE vs. CBUS.DE - Performance Comparison
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Returns By Period
In the year-to-date period, VGOV.DE achieves a -0.51% return, which is significantly higher than CBUS.DE's -1.94% return.
VGOV.DE
- 1D
- 0.07%
- 1M
- 0.49%
- YTD
- -0.51%
- 6M
- -0.16%
- 1Y
- -0.62%
- 3Y*
- 2.00%
- 5Y*
- -5.47%
- 10Y*
- —
CBUS.DE
- 1D
- 0.20%
- 1M
- 0.46%
- YTD
- -1.94%
- 6M
- -1.87%
- 1Y
- 0.16%
- 3Y*
- 0.65%
- 5Y*
- —
- 10Y*
- —
VGOV.DE vs. CBUS.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
VGOV.DE Vanguard UK Gilt UCITS ETF Distributing | -0.51% | 0.18% | -0.21% | 5.44% | 5.85% |
CBUS.DE iShares Core UK Gilts UCITS ETF (EUR Hedged) Dist | -1.94% | 3.15% | -5.02% | 2.14% | 5.57% |
Correlation
The correlation between VGOV.DE and CBUS.DE is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2022 | 0.85 |
The correlation between VGOV.DE and CBUS.DE has been stable across timeframes, ranging from 0.81 to 0.85 - a consistent structural relationship.
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Return for Risk
VGOV.DE vs. CBUS.DE — Risk / Return Rank
VGOV.DE
CBUS.DE
VGOV.DE vs. CBUS.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard UK Gilt UCITS ETF Distributing (VGOV.DE) and iShares Core UK Gilts UCITS ETF (EUR Hedged) Dist (CBUS.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.
| VGOV.DE | CBUS.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.01 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.13 | 0.02 | -0.14 |
| Martin ratioReturn relative to average drawdown | -0.29 | 0.04 | -0.33 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VGOV.DE | CBUS.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.08 | 0.01 | -0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.42 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.13 | 0.12 | -0.24 |
Drawdowns
VGOV.DE vs. CBUS.DE - Drawdown Comparison
The maximum VGOV.DE drawdown since its inception was -40.95%, which is greater than CBUS.DE's maximum drawdown of -12.79%. Use the drawdown chart below to compare losses from any high point for VGOV.DE and CBUS.DE.
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Drawdown Indicators
| VGOV.DE | CBUS.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.95% | -12.79% | -28.16% |
Max Drawdown (1Y)Largest decline over 1 year | -5.37% | -5.66% | +0.29% |
Max Drawdown (3Y)Largest decline over 3 years | -9.01% | -7.48% | -1.53% |
Max Drawdown (5Y)Largest decline over 5 years | -40.45% | — | — |
Current DrawdownCurrent decline from peak | -30.35% | -7.94% | -22.41% |
Average DrawdownAverage peak-to-trough decline | -16.60% | -7.22% | -9.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.35% | 2.18% | +0.17% |
Volatility
VGOV.DE vs. CBUS.DE - Volatility Comparison
Vanguard UK Gilt UCITS ETF Distributing (VGOV.DE) has a higher volatility of 3.34% compared to iShares Core UK Gilts UCITS ETF (EUR Hedged) Dist (CBUS.DE) at 2.39%. This indicates that VGOV.DE's price experiences larger fluctuations and is considered to be riskier than CBUS.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGOV.DE | CBUS.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.34% | 2.39% | +0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 6.15% | 4.93% | +1.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.99% | 6.13% | +1.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.87% | 8.34% | +4.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.86% | 8.34% | +3.52% |
VGOV.DE vs. CBUS.DE - Expense Ratio Comparison
VGOV.DE has a 0.07% expense ratio, which is lower than CBUS.DE's 0.09% 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
VGOV.DE vs. CBUS.DE - Dividend Comparison
VGOV.DE's dividend yield for the trailing twelve months is around 4.59%, more than CBUS.DE's 4.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CBUS.DE iShares Core UK Gilts UCITS ETF (EUR Hedged) Dist | 4.52% | 4.23% | 3.74% | 2.40% | 0.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VGOV.DE Vanguard UK Gilt UCITS ETF Distributing | 4.59% | 4.59% | 4.08% | 3.17% | 1.94% | 1.07% | 1.18% | 1.34% | 1.60% | 0.27% |
Frequently Asked Questions
VGOV.DE and CBUS.DE have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGOV.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGOV.DE is cheaper with a 0.07% expense ratio, compared with 0.09% for CBUS.DE.
VGOV.DE tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP, while CBUS.DE tracks FTSE Actuaries UK Conventional Gilts All Stocks (EUR Hedged). They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.07% for VGOV.DE and 0.09% for CBUS.DE.
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