VHVG.L vs. VGVA.L

Last updated Jun 5, 2026

VHVG.L (Vanguard FTSE Developed World UCITS ETF Acc) and VGVA.L (Vanguard UK Gilt UCITS ETF Accumulating) are both exchange-traded funds - VHVG.L is a Global Equities fund tracking the MSCI ACWI NR USD, while VGVA.L is a European Government Bonds fund tracking the FTSE Act UK Cnvt Gilts All Stocks TR GBP. Both are passively managed. Over the past 5 years, VHVG.L returned 13.30%/yr vs -5.33%/yr for VGVA.L. At a correlation of -0.02, they often move in opposite directions. VHVG.L charges 0.12%/yr vs 0.07%/yr for VGVA.L.

Performance

VHVG.L vs. VGVA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Vanguard FTSE Developed World UCITS ETF Acc (VHVG.L) and Vanguard UK Gilt UCITS ETF Accumulating (VGVA.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VHVG.L achieves a 11.81% return, which is significantly higher than VGVA.L's -1.19% return.

VHVG.L

• 1D: -0.07%
• 1M: 5.52%
• YTD: 11.81%
• 6M: 12.27%
• 1Y: 29.87%
• 3Y*: 18.37%
• 5Y*: 13.30%
• 10Y*: —

VGVA.L

• 1D: 0.28%
• 1M: 1.61%
• YTD: -1.19%
• 6M: -1.36%
• 1Y: 2.14%
• 3Y*: 2.10%
• 5Y*: -5.33%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VHVG.L Vanguard FTSE Developed World UCITS ETF Acc	11.81%	13.85%	19.99%	17.54%	-8.66%	23.31%	12.56%	1.61%
VGVA.L Vanguard UK Gilt UCITS ETF Accumulating	-1.19%	4.03%	-3.61%	3.26%	-27.03%	-5.38%	9.36%	-4.57%

Correlation

The correlation between VHVG.L and VGVA.L is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.04
Correlation (All Time) Calculated using the full available price history since Sep 27, 2019	-0.02

The correlation between VHVG.L and VGVA.L shifts across timeframes, from -0.02 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

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

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

VHVG.L

VHVG.L Risk / Return Rank: 86
VHVG.L Sharpe Ratio Rank: 88
VHVG.L Sortino Ratio Rank: 88
VHVG.L Omega Ratio Rank: 88
VHVG.L Calmar Ratio Rank: 82
VHVG.L Martin Ratio Rank: 85

VGVA.L

VGVA.L Risk / Return Rank: 14
VGVA.L Sharpe Ratio Rank: 14
VGVA.L Sortino Ratio Rank: 13
VGVA.L Omega Ratio Rank: 13
VGVA.L Calmar Ratio Rank: 14
VGVA.L Martin Ratio Rank: 14

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.

VHVG.L vs. VGVA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed World UCITS ETF Acc (VHVG.L) and Vanguard UK Gilt UCITS ETF Accumulating (VGVA.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.

	VHVG.L	VGVA.L	Difference
Sharpe ratio: Return per unit of total volatility	2.90	0.33	+2.57
Sortino ratio: Return per unit of downside risk	3.99	0.49	+3.50
Omega ratio: Gain probability vs. loss probability	1.55	1.06	+0.49
Calmar ratio: Return relative to maximum drawdown	4.29	0.37	+3.92
Martin ratio: Return relative to average drawdown	17.65	1.00	+16.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current VHVG.L Sharpe Ratio is 2.90, which is higher than the VGVA.L Sharpe Ratio of 0.33. The chart below compares the historical Sharpe Ratios of VHVG.L and VGVA.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VHVG.L	VGVA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.90	0.33	+2.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.03	-0.47	+1.50
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	-0.25	+1.14

Drawdowns

VHVG.L vs. VGVA.L - Drawdown Comparison

The maximum VHVG.L drawdown since its inception was -25.41%, smaller than the maximum VGVA.L drawdown of -39.28%. Use the drawdown chart below to compare losses from any high point for VHVG.L and VGVA.L.

Drawdown Indicators

	VHVG.L	VGVA.L	Difference
Max Drawdown Largest peak-to-trough decline	-25.41%	-39.28%	+13.87%
Max Drawdown (1Y) Largest decline over 1 year	-6.94%	-5.75%	-1.19%
Max Drawdown (3Y) Largest decline over 3 years	-17.96%	-7.88%	-10.08%
Max Drawdown (5Y) Largest decline over 5 years	-17.96%	-37.05%	+19.09%
Current Drawdown Current decline from peak	-0.36%	-31.00%	+30.64%
Average Drawdown Average peak-to-trough decline	-3.28%	-19.93%	+16.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	2.13%	-0.44%

Volatility

VHVG.L vs. VGVA.L - Volatility Comparison

Vanguard FTSE Developed World UCITS ETF Acc (VHVG.L) and Vanguard UK Gilt UCITS ETF Accumulating (VGVA.L) have volatilities of 2.72% and 2.79%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VHVG.L	VGVA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.72%	2.79%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	7.53%	5.27%	+2.26%
Volatility (1Y) Calculated over the trailing 1-year period	10.27%	6.53%	+3.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.97%	11.28%	+1.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.06%	10.86%	+4.20%

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

VHVG.L has a 0.12% expense ratio, which is higher than VGVA.L's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VHVG.L vs. VGVA.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both VHVG.L and VGVA.L in my portfolio?

VHVG.L and VGVA.L have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VHVG.L or VGVA.L?

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.

Which ETF is cheaper, VHVG.L or VGVA.L?

VGVA.L is cheaper with a 0.07% expense ratio, compared with 0.12% for VHVG.L.

What is the main difference between VHVG.L and VGVA.L?

VHVG.L is categorized as Global Equities, while VGVA.L is European Government Bonds. VHVG.L tracks MSCI ACWI NR USD, while VGVA.L tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP. Their fees differ too: 0.12% for VHVG.L and 0.07% for VGVA.L.