VGVA.L vs. IBGS.L
VGVA.L (Vanguard UK Gilt UCITS ETF Accumulating) and IBGS.L (iShares Euro Government Bond 1-3yr UCITS ETF (Dist)) are both European Government Bonds funds - VGVA.L tracks the FTSE Act UK Cnvt Gilts All Stocks TR GBP while IBGS.L tracks the Bloomberg Euro Agg Govt 1-3 Yr TR EUR. Both are passively managed. Over the past 5 years, VGVA.L returned -2.90%/yr vs 0.97%/yr for IBGS.L. At a 0.16 correlation, their price movements are largely independent. VGVA.L charges 0.07%/yr vs 0.15%/yr for IBGS.L.
Performance
VGVA.L vs. IBGS.L - Performance Comparison
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Returns By Period
In the year-to-date period, VGVA.L achieves a 0.63% return, which is significantly higher than IBGS.L's -0.90% return.
VGVA.L
- 1D
- 0.00%
- 1M
- 1.81%
- YTD
- 0.63%
- 6M
- 0.87%
- 1Y
- 2.81%
- 3Y*
- 5.32%
- 5Y*
- -2.90%
- 10Y*
- —
IBGS.L
- 1D
- -0.07%
- 1M
- -0.03%
- YTD
- -0.90%
- 6M
- -0.70%
- 1Y
- 2.21%
- 3Y*
- 3.02%
- 5Y*
- 0.97%
- 10Y*
- 0.74%
VGVA.L vs. IBGS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VGVA.L Vanguard UK Gilt UCITS ETF Accumulating | 0.63% | 6.05% | 0.25% | 6.72% | -25.85% | -4.33% | 10.58% | 7.04% |
IBGS.L iShares Euro Government Bond 1-3yr UCITS ETF (Dist) | -0.90% | 7.76% | -1.67% | 1.49% | 1.00% | -7.24% | 5.38% | -2.50% |
Correlation
The correlation between VGVA.L and IBGS.L is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 2019 | 0.16 |
The correlation between VGVA.L and IBGS.L shifts across timeframes, from 0.10 (1 year) to 0.21 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VGVA.L vs. IBGS.L — Risk / Return Rank
VGVA.L
IBGS.L
VGVA.L vs. IBGS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard UK Gilt UCITS ETF Accumulating (VGVA.L) and iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBGS.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.
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.
| VGVA.L | IBGS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.09 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.49 | 0.85 | -0.36 |
| Martin ratioReturn relative to average drawdown | 1.25 | 1.76 | -0.51 |
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Drawdowns
VGVA.L vs. IBGS.L - Drawdown Comparison
The maximum VGVA.L drawdown since its inception was -37.39%, smaller than the maximum IBGS.L drawdown of -99.26%. Use the drawdown chart below to compare losses from any high point for VGVA.L and IBGS.L.
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Drawdown Indicators
| VGVA.L | IBGS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.39% | -99.26% | +61.87% |
Max Drawdown (1Y)Largest decline over 1 year | -5.76% | -2.59% | -3.17% |
Max Drawdown (3Y)Largest decline over 3 years | -6.89% | -3.05% | -3.84% |
Max Drawdown (5Y)Largest decline over 5 years | -36.32% | -5.95% | -30.37% |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.11% | — |
Current DrawdownCurrent decline from peak | -20.16% | -98.93% | +78.77% |
Average DrawdownAverage peak-to-trough decline | -16.24% | -94.44% | +78.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.24% | 1.25% | +0.99% |
Volatility
VGVA.L vs. IBGS.L - Volatility Comparison
Vanguard UK Gilt UCITS ETF Accumulating (VGVA.L) has a higher volatility of 1.63% compared to iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBGS.L) at 0.84%. This indicates that VGVA.L's price experiences larger fluctuations and is considered to be riskier than IBGS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGVA.L | IBGS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.63% | 0.84% | +0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 5.32% | 2.73% | +2.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.57% | 4.10% | +2.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.31% | 5.33% | +5.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.84% | 6.78% | +4.06% |
VGVA.L vs. IBGS.L - Expense Ratio Comparison
VGVA.L has a 0.07% expense ratio, which is lower than IBGS.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
VGVA.L vs. IBGS.L - Dividend Comparison
VGVA.L has not paid dividends to shareholders, while IBGS.L's dividend yield for the trailing twelve months is around 2.18%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBGS.L iShares Euro Government Bond 1-3yr UCITS ETF (Dist) | 2.18% | 2.39% | 2.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.04% | 0.28% |
VGVA.L Vanguard UK Gilt UCITS ETF Accumulating | 0.00% | 1.84% | 3.99% | 3.09% | 1.85% | 1.08% | 1.12% | 1.09% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VGVA.L and IBGS.L have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGVA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGVA.L is cheaper with a 0.07% expense ratio, compared with 0.15% for IBGS.L.
VGVA.L tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP, while IBGS.L tracks Bloomberg Euro Agg Govt 1-3 Yr TR EUR. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.07% for VGVA.L and 0.15% for IBGS.L.
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