VGVA.L vs. VHYD.L
VGVA.L (Vanguard UK Gilt UCITS ETF Accumulating) and VHYD.L (Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing) are both exchange-traded funds - VGVA.L is a European Government Bonds fund tracking the FTSE Act UK Cnvt Gilts All Stocks TR GBP, while VHYD.L is a Dividend fund tracking the FTSE All-World High Dividend Yield Index. Both are passively managed. Over the past 5 years, VGVA.L returned -3.99%/yr vs 12.48%/yr for VHYD.L. Their -0.03 correlation means they have often moved in opposite directions in the past. VGVA.L charges 0.07%/yr vs 0.29%/yr for VHYD.L.
Performance
VGVA.L vs. VHYD.L - Performance Comparison
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Different Trading Currencies
VGVA.L is traded in GBP, while VHYD.L is traded in USD. To make them comparable, the VHYD.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, VGVA.L achieves a -1.55% return, which is significantly lower than VHYD.L's 15.58% return.
VGVA.L
- 1D
- 0.64%
- 1M
- -1.83%
- 6M
- -1.64%
- YTD
- -1.55%
- 1Y
- 1.75%
- 3Y*
- 4.34%
- 5Y*
- -3.99%
- 10Y*
- —
- ALL TIME*
- -0.86%
VHYD.L
- 1D
- 0.91%
- 1M
- 1.70%
- 6M
- 13.32%
- YTD
- 15.58%
- 1Y
- 26.20%
- 3Y*
- 16.48%
- 5Y*
- 12.48%
- 10Y*
- 9.91%
- ALL TIME*
- 9.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| £469.28K | £535.32K | £606.62K | |
| £1.73M | £8.24M | £3.88M |
VGVA.L vs. VHYD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VGVA.L Vanguard UK Gilt UCITS ETF Accumulating | -1.55% | 6.05% | 0.25% | 6.72% | -25.85% | -4.33% | 10.58% | 7.04% |
VHYD.L Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing | 15.58% | 17.98% | 11.23% | 5.86% | 5.79% | 18.96% | -3.24% | 9.07% |
Correlation
The correlation between VGVA.L and VHYD.L is 0.37, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.37 |
Correlation (3Y) Balances recent behavior with more history. | 0.22 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.07 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 2019 | -0.03 |
The correlation between VGVA.L and VHYD.L shifts across timeframes, from -0.03 (all time) to 0.37 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VGVA.L vs. VHYD.L — Risk / Return Rank
VGVA.L
VHYD.L
VGVA.L vs. VHYD.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 Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing (VHYD.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 | VHYD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.27 | ||
| Sortino ratioReturn per unit of downside risk | -3.02 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.48 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | 0.28 | 3.76 | -3.47 |
| Martin ratioReturn relative to average drawdown | 0.69 | 13.69 | -13.00 |
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Drawdowns
VGVA.L vs. VHYD.L - Drawdown Comparison
The maximum VGVA.L drawdown since its inception was -37.39%, which is greater than VHYD.L's maximum drawdown of -29.43%. Use the drawdown chart below to compare losses from any high point for VGVA.L and VHYD.L.
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Drawdown Indicators
| VGVA.L | VHYD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.39% | -29.43% | -7.96% |
Max Drawdown (1Y)Largest decline over 1 year | -5.76% | -6.91% | +1.15% |
Max Drawdown (3Y)Largest decline over 3 years | -6.89% | -12.99% | +6.10% |
Max Drawdown (5Y)Largest decline over 5 years | -36.32% | -12.99% | -23.33% |
Max Drawdown (10Y)Largest decline over 10 years | — | -29.43% | — |
Current DrawdownCurrent decline from peak | -21.88% | 0.00% | -21.88% |
Average DrawdownAverage peak-to-trough decline | -16.30% | -3.67% | -12.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.37% | 1.90% | +0.47% |
Volatility
VGVA.L vs. VHYD.L - Volatility Comparison
The current volatility for Vanguard UK Gilt UCITS ETF Accumulating (VGVA.L) is 1.86%, while Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing (VHYD.L) has a volatility of 2.81%. This indicates that VGVA.L experiences smaller price fluctuations and is considered to be less risky than VHYD.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 | VHYD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.86% | 2.81% | -0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 5.51% | 8.54% | -3.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.56% | 10.35% | -3.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.29% | 12.22% | -0.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.80% | 14.69% | -3.89% |
VGVA.L vs. VHYD.L - Expense Ratio Comparison
VGVA.L has a 0.07% expense ratio, which is lower than VHYD.L's 0.29% expense ratio.
Dividends
VGVA.L vs. VHYD.L - Dividend Comparison
VGVA.L has not paid dividends to shareholders, while VHYD.L's dividend yield for the trailing twelve months is around 2.49%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VHYD.L Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing | 2.49% | 2.77% | 3.15% | 3.31% | 3.72% | 3.14% | 2.90% | 3.23% | 3.77% | 2.96% | 3.16% | 3.32% |
Frequently Asked Questions
VGVA.L and VHYD.L have a correlation of 0.37, 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 0.29% for VHYD.L.
VGVA.L is categorized as European Government Bonds, while VHYD.L is Dividend. VGVA.L tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP, while VHYD.L tracks FTSE All-World High Dividend Yield Index. Their fees differ too: 0.07% for VGVA.L and 0.29% for VHYD.L.
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