VGOV.DE vs. VUAG.L

Last updated Apr 3, 2026

Compare and contrast key facts about Vanguard UK Gilt UCITS ETF Distributing (VGOV.DE) and Vanguard S&P 500 UCITS ETF (USD) Accumulating (VUAG.L).

VGOV.DE and VUAG.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VGOV.DE is a passively managed fund by Vanguard that tracks the performance of the FTSE Act UK Cnvt Gilts All Stocks TR GBP. It was launched on May 22, 2012. VUAG.L is a passively managed fund by Vanguard that tracks the performance of the S&P 500 Index. It was launched on May 14, 2019. Both VGOV.DE and VUAG.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

VGOV.DE vs. VUAG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Vanguard UK Gilt UCITS ETF Distributing (VGOV.DE) and Vanguard S&P 500 UCITS ETF (USD) Accumulating (VUAG.L). The values are adjusted to include any dividend payments, if applicable.

VGOV.DE vs. VUAG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VGOV.DE Vanguard UK Gilt UCITS ETF Distributing	-1.21%	0.18%	-0.21%	5.44%	-30.78%	1.88%	2.84%	7.00%
VUAG.L Vanguard S&P 500 UCITS ETF (USD) Accumulating	-2.65%	3.66%	33.47%	22.20%	-13.58%	39.49%	184.70%	12.82%

Different Trading Currencies

VGOV.DE is traded in EUR, while VUAG.L is traded in GBP. To make them comparable, the VUAG.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, VGOV.DE achieves a -1.21% return, which is significantly higher than VUAG.L's -2.65% return.

VGOV.DE

• 1D: 0.03%
• 1M: -2.24%
• YTD: -1.21%
• 6M: 1.97%
• 1Y: -1.23%
• 3Y*: -0.12%
• 5Y*: -5.73%
• 10Y*: —

VUAG.L

• 1D: -24.50%
• 1M: -2.59%
• YTD: -2.65%
• 6M: -0.06%
• 1Y: 9.79%
• 3Y*: 16.01%
• 5Y*: 12.18%
• 10Y*: —

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

VGOV.DE vs. VUAG.L - Expense Ratio Comparison

Both VGOV.DE and VUAG.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%.

VGOV.DE

Vanguard UK Gilt UCITS ETF Distributing

VUAG.L

Vanguard S&P 500 UCITS ETF (USD) Accumulating

Return for Risk

VGOV.DE vs. VUAG.L — Risk / Return Rank

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

VGOV.DE

VGOV.DE Risk / Return Rank: 7
VGOV.DE Sharpe Ratio Rank: 9
VGOV.DE Sortino Ratio Rank: 8
VGOV.DE Omega Ratio Rank: 8
VGOV.DE Calmar Ratio Rank: 6
VGOV.DE Martin Ratio Rank: 6

VUAG.L

VUAG.L Risk / Return Rank: 41
VUAG.L Sharpe Ratio Rank: 20
VUAG.L Sortino Ratio Rank: 27
VUAG.L Omega Ratio Rank: 60
VUAG.L Calmar Ratio Rank: 28
VUAG.L Martin Ratio Rank: 70

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.

VGOV.DE vs. VUAG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard UK Gilt UCITS ETF Distributing (VGOV.DE) and Vanguard S&P 500 UCITS ETF (USD) Accumulating (VUAG.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.

	VGOV.DE	VUAG.L	Difference
Sharpe ratio Return per unit of total volatility	-0.14	0.21	-0.36
Sortino ratio Return per unit of downside risk	-0.13	0.71	-0.84
Omega ratio Gain probability vs. loss probability	0.98	1.18	-0.20
Calmar ratio Return relative to maximum drawdown	-0.32	0.68	-1.00
Martin ratio Return relative to average drawdown	-0.75	6.66	-7.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VGOV.DE vs. VUAG.L - Sharpe Ratio Comparison

The current VGOV.DE Sharpe Ratio is -0.14, which is lower than the VUAG.L Sharpe Ratio of 0.21. The chart below compares the historical Sharpe Ratios of VGOV.DE and VUAG.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VGOV.DE	VUAG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.14	0.21	-0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.44	0.50	-0.94
Sharpe Ratio (All Time) Calculated using the full available price history	-0.14	0.76	-0.90

Correlation

The correlation between VGOV.DE and VUAG.L is 0.08, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

VGOV.DE vs. VUAG.L - Dividend Comparison

VGOV.DE's dividend yield for the trailing twelve months is around 4.59%, while VUAG.L has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
VUAG.L Vanguard S&P 500 UCITS ETF (USD) Accumulating	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	71.39%	0.00%	0.00%	0.00%

Drawdowns

VGOV.DE vs. VUAG.L - Drawdown Comparison

The maximum VGOV.DE drawdown since its inception was -40.95%, which is greater than VUAG.L's maximum drawdown of -33.02%. Use the drawdown chart below to compare losses from any high point for VGOV.DE and VUAG.L.

Drawdown Indicators

	VGOV.DE	VUAG.L	Difference
Max Drawdown Largest peak-to-trough decline	-40.95%	-25.61%	-15.34%
Max Drawdown (1Y) Largest decline over 1 year	-5.11%	-24.47%	+19.36%
Max Drawdown (5Y) Largest decline over 5 years	-40.45%	-24.47%	-15.98%
Current Drawdown Current decline from peak	-30.84%	-24.47%	-6.37%
Average Drawdown Average peak-to-trough decline	-16.32%	-3.58%	-12.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	2.48%	-0.39%

Volatility

VGOV.DE vs. VUAG.L - Volatility Comparison

The current volatility for Vanguard UK Gilt UCITS ETF Distributing (VGOV.DE) is 3.12%, while Vanguard S&P 500 UCITS ETF (USD) Accumulating (VUAG.L) has a volatility of 42.44%. This indicates that VGOV.DE experiences smaller price fluctuations and is considered to be less risky than VUAG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VGOV.DE	VUAG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.12%	42.44%	-39.32%
Volatility (6M) Calculated over the trailing 6-month period	5.12%	42.29%	-37.17%
Volatility (1Y) Calculated over the trailing 1-year period	8.48%	45.98%	-37.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.78%	24.45%	-11.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.88%	40.28%	-28.40%