VGOV.L vs. XGLE.L
VGOV.L (Vanguard UK Gilt UCITS ETF Distributing) and XGLE.L (Xtrackers Eurozone Government Bond UCITS ETF 1C) are both European Government Bonds funds - VGOV.L tracks the FTSE Act UK Cnvt Gilts All Stocks TR GBP while XGLE.L tracks the Bloomberg Euro Agg Govt TR EUR. Both are passively managed. Over the past 10 years, VGOV.L returned -1.29%/yr vs 0.62%/yr for XGLE.L. At a 0.49 correlation, their price movements are largely independent. VGOV.L charges 0.07%/yr vs 0.15%/yr for XGLE.L.
Performance
VGOV.L vs. XGLE.L - Performance Comparison
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Different Trading Currencies
VGOV.L is traded in GBP, while XGLE.L is traded in EUR. To make them comparable, the XGLE.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, VGOV.L achieves a -1.28% return, which is significantly lower than XGLE.L's -0.67% return. Over the past 10 years, VGOV.L has underperformed XGLE.L with an annualized return of -1.29%, while XGLE.L has yielded a comparatively higher 0.62% 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%
XGLE.L
- 1D
- 0.19%
- 1M
- 0.83%
- YTD
- -0.67%
- 6M
- -0.96%
- 1Y
- 2.65%
- 3Y*
- 2.50%
- 5Y*
- -2.15%
- 10Y*
- 0.62%
VGOV.L vs. XGLE.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% |
XGLE.L Xtrackers Eurozone Government Bond UCITS ETF 1C | -0.67% | 5.95% | -2.94% | 4.66% | -14.01% | -9.34% | 10.68% | 0.57% | 1.78% | 4.23% |
Correlation
The correlation between VGOV.L and XGLE.L is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since May 25, 2012 | 0.49 |
The correlation between VGOV.L and XGLE.L shifts across timeframes, from 0.49 (all time) to 0.62 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VGOV.L vs. XGLE.L — Risk / Return Rank
VGOV.L
XGLE.L
VGOV.L vs. XGLE.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 Xtrackers Eurozone Government Bond UCITS ETF 1C (XGLE.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 | XGLE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.08 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.36 | 0.58 | -0.22 |
| Martin ratioReturn relative to average drawdown | 0.96 | 1.30 | -0.34 |
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 | XGLE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.32 | 0.47 | -0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.47 | -0.29 | -0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.13 | 0.07 | -0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.03 | 0.24 | -0.21 |
Drawdowns
VGOV.L vs. XGLE.L - Drawdown Comparison
The maximum VGOV.L drawdown since its inception was -39.28%, which is greater than XGLE.L's maximum drawdown of -26.78%. Use the drawdown chart below to compare losses from any high point for VGOV.L and XGLE.L.
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Drawdown Indicators
| VGOV.L | XGLE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.28% | -26.78% | -12.50% |
Max Drawdown (1Y)Largest decline over 1 year | -5.74% | -4.53% | -1.21% |
Max Drawdown (3Y)Largest decline over 3 years | -7.98% | -6.20% | -1.78% |
Max Drawdown (5Y)Largest decline over 5 years | -37.38% | -20.99% | -16.39% |
Max Drawdown (10Y)Largest decline over 10 years | -39.28% | -26.78% | -12.50% |
Current DrawdownCurrent decline from peak | -30.74% | -18.89% | -11.85% |
Average DrawdownAverage peak-to-trough decline | -12.39% | -10.13% | -2.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.16% | 2.04% | +0.12% |
Volatility
VGOV.L vs. XGLE.L - Volatility Comparison
Vanguard UK Gilt UCITS ETF Distributing (VGOV.L) has a higher volatility of 2.69% compared to Xtrackers Eurozone Government Bond UCITS ETF 1C (XGLE.L) at 2.02%. This indicates that VGOV.L's price experiences larger fluctuations and is considered to be riskier than XGLE.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 | XGLE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.69% | 2.02% | +0.67% |
Volatility (6M)Calculated over the trailing 6-month period | 5.24% | 4.33% | +0.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.47% | 5.58% | +0.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.44% | 7.50% | +3.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.15% | 8.54% | +1.61% |
VGOV.L vs. XGLE.L - Expense Ratio Comparison
VGOV.L has a 0.07% expense ratio, which is lower than XGLE.L'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
VGOV.L vs. XGLE.L - Dividend Comparison
VGOV.L's dividend yield for the trailing twelve months is around 4.61%, while XGLE.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
XGLE.L Xtrackers Eurozone Government Bond UCITS ETF 1C | 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
VGOV.L and XGLE.L have a correlation of 0.55, 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 0.15% for XGLE.L.
VGOV.L tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP, while XGLE.L tracks Bloomberg Euro Agg Govt TR EUR. They also come from different issuers: Vanguard and DWS. Their fees differ too: 0.07% for VGOV.L and 0.15% for XGLE.L.
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