VGVA.L vs. VUAG.L

Last updated Apr 2, 2026

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

VGVA.L 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. VGVA.L 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 Feb 19, 2019. 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 VGVA.L 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

VGVA.L vs. VUAG.L - Performance Comparison

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

VGVA.L vs. VUAG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VGVA.L Vanguard UK Gilt UCITS ETF Accumulating	-1.23%	4.03%	-3.61%	3.26%	-27.03%	-5.38%	9.36%	4.38%
VUAG.L Vanguard S&P 500 UCITS ETF (USD) Accumulating	-3.06%	9.36%	27.33%	19.67%	-8.88%	30.97%	201.05%	9.30%

Returns By Period

In the year-to-date period, VGVA.L achieves a -1.23% return, which is significantly higher than VUAG.L's -3.06% return.

VGVA.L

• 1D: 0.65%
• 1M: -3.07%
• YTD: -1.23%
• 6M: 1.83%
• 1Y: 2.74%
• 3Y*: -0.00%
• 5Y*: -5.28%
• 10Y*: —

VUAG.L

• 1D: 1.60%
• 1M: -3.29%
• YTD: -3.06%
• 6M: 0.22%
• 1Y: 14.86%
• 3Y*: 15.78%
• 5Y*: 12.64%
• 10Y*: —

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

VGVA.L vs. VUAG.L - Expense Ratio Comparison

Both VGVA.L 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%.

VGVA.L

Vanguard UK Gilt UCITS ETF Accumulating

VUAG.L

Vanguard S&P 500 UCITS ETF (USD) Accumulating

Return for Risk

VGVA.L vs. VUAG.L — Risk / Return Rank

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

VGVA.L

VGVA.L Risk / Return Rank: 23
VGVA.L Sharpe Ratio Rank: 23
VGVA.L Sortino Ratio Rank: 21
VGVA.L Omega Ratio Rank: 20
VGVA.L Calmar Ratio Rank: 25
VGVA.L Martin Ratio Rank: 25

VUAG.L

VUAG.L Risk / Return Rank: 59
VUAG.L Sharpe Ratio Rank: 51
VUAG.L Sortino Ratio Rank: 50
VUAG.L Omega Ratio Rank: 51
VUAG.L Calmar Ratio Rank: 75
VUAG.L Martin Ratio Rank: 67

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.

VGVA.L vs. VUAG.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 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.

	VGVA.L	VUAG.L	Difference
Sharpe ratio Return per unit of total volatility	0.43	0.96	-0.54
Sortino ratio Return per unit of downside risk	0.62	1.40	-0.78
Omega ratio Gain probability vs. loss probability	1.08	1.20	-0.12
Calmar ratio Return relative to maximum drawdown	0.59	2.05	-1.46
Martin ratio Return relative to average drawdown	1.93	6.98	-5.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VGVA.L vs. VUAG.L - Sharpe Ratio Comparison

The current VGVA.L Sharpe Ratio is 0.43, which is lower than the VUAG.L Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of VGVA.L 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

	VGVA.L	VUAG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.43	0.96	-0.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.47	0.88	-1.35
Sharpe Ratio (All Time) Calculated using the full available price history	-0.26	0.84	-1.10

Correlation

The correlation between VGVA.L and VUAG.L is -0.05. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

VGVA.L vs. VUAG.L - Dividend Comparison

Neither VGVA.L nor VUAG.L has paid dividends to shareholders.

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

Drawdowns

VGVA.L vs. VUAG.L - Drawdown Comparison

The maximum VGVA.L drawdown since its inception was -39.28%, which is greater than VUAG.L's maximum drawdown of -25.61%. Use the drawdown chart below to compare losses from any high point for VGVA.L and VUAG.L.

Drawdown Indicators

	VGVA.L	VUAG.L	Difference
Max Drawdown Largest peak-to-trough decline	-39.28%	-25.61%	-13.67%
Max Drawdown (1Y) Largest decline over 1 year	-4.79%	-10.53%	+5.74%
Max Drawdown (5Y) Largest decline over 5 years	-37.05%	-20.88%	-16.17%
Current Drawdown Current decline from peak	-31.03%	-4.74%	-26.29%
Average Drawdown Average peak-to-trough decline	-19.66%	-3.57%	-16.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.46%	2.08%	-0.62%

Volatility

VGVA.L vs. VUAG.L - Volatility Comparison

The current volatility for Vanguard UK Gilt UCITS ETF Accumulating (VGVA.L) is 2.94%, while Vanguard S&P 500 UCITS ETF (USD) Accumulating (VUAG.L) has a volatility of 3.83%. This indicates that VGVA.L 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

	VGVA.L	VUAG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.94%	3.83%	-0.89%
Volatility (6M) Calculated over the trailing 6-month period	4.35%	8.28%	-3.93%
Volatility (1Y) Calculated over the trailing 1-year period	6.39%	15.40%	-9.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.21%	14.39%	-3.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.89%	36.50%	-25.61%