VGOV.L vs. SGIL.L
VGOV.L (Vanguard UK Gilt UCITS ETF Distributing) and SGIL.L (iShares Global Inflation Linked Government Bond UCITS ETF USD (Acc)) are both exchange-traded funds - VGOV.L is a European Government Bonds fund tracking the FTSE Act UK Cnvt Gilts All Stocks TR GBP, while SGIL.L is a Inflation-Protected Bonds fund tracking the Bloomberg Gbl Infl Linked TR USD. Both are passively managed. Over the past 10 years, VGOV.L returned -1.29%/yr vs 1.78%/yr for SGIL.L. A 0.64 correlation means they provide meaningful diversification when combined. VGOV.L charges 0.07%/yr vs 0.20%/yr for SGIL.L.
Performance
VGOV.L vs. SGIL.L - Performance Comparison
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Returns By Period
In the year-to-date period, VGOV.L achieves a -1.28% return, which is significantly lower than SGIL.L's 1.14% return. Over the past 10 years, VGOV.L has underperformed SGIL.L with an annualized return of -1.29%, while SGIL.L has yielded a comparatively higher 1.78% annualized return.
VGOV.L
- 1D
- 0.28%
- 1M
- 1.61%
- YTD
- -1.28%
- 6M
- -1.26%
- 1Y
- 2.08%
- 3Y*
- 2.10%
- 5Y*
- -5.33%
- 10Y*
- -1.29%
SGIL.L
- 1D
- 0.01%
- 1M
- 0.35%
- YTD
- 1.14%
- 6M
- 0.44%
- 1Y
- 4.97%
- 3Y*
- 0.67%
- 5Y*
- -1.24%
- 10Y*
- 1.78%
VGOV.L vs. SGIL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGOV.L Vanguard UK Gilt UCITS ETF Distributing | -1.28% | 4.78% | -4.30% | 3.32% | -27.01% | -5.37% | 9.32% | 7.65% | 0.35% | 1.90% |
SGIL.L iShares Global Inflation Linked Government Bond UCITS ETF USD (Acc) | 1.14% | 1.15% | -1.44% | -0.60% | -12.55% | 4.21% | 8.42% | 4.53% | 1.56% | -1.38% |
Correlation
The correlation between VGOV.L and SGIL.L is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since May 24, 2012 | 0.64 |
Over the past year, the correlation between VGOV.L and SGIL.L has dropped to 0.34 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.
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Return for Risk
VGOV.L vs. SGIL.L — Risk / Return Rank
VGOV.L
SGIL.L
VGOV.L vs. SGIL.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard UK Gilt UCITS ETF Distributing (VGOV.L) and iShares Global Inflation Linked Government Bond UCITS ETF USD (Acc) (SGIL.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.L | SGIL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.66 | ||
| Sortino ratioReturn per unit of downside risk | -0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.17 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.36 | 1.56 | -1.20 |
| Martin ratioReturn relative to average drawdown | 0.96 | 3.06 | -2.10 |
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.L | SGIL.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.32 | 0.98 | -0.66 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.47 | -0.15 | -0.32 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.13 | 0.20 | -0.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.03 | 0.41 | -0.38 |
Drawdowns
VGOV.L vs. SGIL.L - Drawdown Comparison
The maximum VGOV.L drawdown since its inception was -39.28%, which is greater than SGIL.L's maximum drawdown of -20.23%. Use the drawdown chart below to compare losses from any high point for VGOV.L and SGIL.L.
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Drawdown Indicators
| VGOV.L | SGIL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.28% | -20.23% | -19.05% |
Max Drawdown (1Y)Largest decline over 1 year | -5.74% | -3.17% | -2.57% |
Max Drawdown (3Y)Largest decline over 3 years | -7.98% | -5.63% | -2.35% |
Max Drawdown (5Y)Largest decline over 5 years | -37.38% | -20.23% | -17.15% |
Max Drawdown (10Y)Largest decline over 10 years | -39.28% | -20.23% | -19.05% |
Current DrawdownCurrent decline from peak | -30.74% | -15.00% | -15.74% |
Average DrawdownAverage peak-to-trough decline | -12.39% | -6.79% | -5.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.16% | 1.62% | +0.54% |
Volatility
VGOV.L vs. SGIL.L - Volatility Comparison
Vanguard UK Gilt UCITS ETF Distributing (VGOV.L) has a higher volatility of 2.69% compared to iShares Global Inflation Linked Government Bond UCITS ETF USD (Acc) (SGIL.L) at 1.13%. This indicates that VGOV.L's price experiences larger fluctuations and is considered to be riskier than SGIL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGOV.L | SGIL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.69% | 1.13% | +1.56% |
Volatility (6M)Calculated over the trailing 6-month period | 5.24% | 3.56% | +1.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.47% | 5.03% | +1.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.44% | 8.38% | +3.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.15% | 8.97% | +1.18% |
VGOV.L vs. SGIL.L - Expense Ratio Comparison
VGOV.L has a 0.07% expense ratio, which is lower than SGIL.L's 0.20% 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.L vs. SGIL.L - Dividend Comparison
VGOV.L's dividend yield for the trailing twelve months is around 4.61%, while SGIL.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SGIL.L iShares Global Inflation Linked Government Bond UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VGOV.L Vanguard UK Gilt UCITS ETF Distributing | 4.61% | 4.51% | 4.14% | 3.16% | 1.87% | 1.09% | 1.16% | 1.38% | 1.57% | 1.62% | 1.62% | 1.92% |
Frequently Asked Questions
VGOV.L and SGIL.L have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGOV.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGOV.L is cheaper with a 0.07% expense ratio, compared with 0.20% for SGIL.L.
VGOV.L is categorized as European Government Bonds, while SGIL.L is Inflation-Protected Bonds. VGOV.L tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP, while SGIL.L tracks Bloomberg Gbl Infl Linked TR USD. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.07% for VGOV.L and 0.20% for SGIL.L.
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