XAGG.TO vs. IUGA.L

Last updated Jul 18, 2026

XAGG.TO (iShares U.S. Aggregate Bond Index ETF) and IUGA.L (iShares US Aggregate Bond UCITS ETF GBP Hedged (Dist)) are both exchange-traded funds - XAGG.TO is a Total Bond Market fund tracking the Bloomberg US Aggregate Bond Index, while IUGA.L is a Intermediate Core Bond fund tracking the Bloomberg US Aggregate Bond (GBP Hedged) Index. Both are passively managed. Over the past 3 years, XAGG.TO returned 5.35%/yr vs 6.37%/yr for IUGA.L. At a 0.13 correlation, their price movements are largely independent. XAGG.TO charges 0.10%/yr vs 0.30%/yr for IUGA.L.

Performance

XAGG.TO vs. IUGA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares U.S. Aggregate Bond Index ETF (XAGG.TO) and iShares US Aggregate Bond UCITS ETF GBP Hedged (Dist) (IUGA.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XAGG.TO is traded in CAD, while IUGA.L is traded in GBP. To make them comparable, the IUGA.L values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XAGG.TO achieves a 2.48% return, which is significantly higher than IUGA.L's 2.09% return.

XAGG.TO

• 1D: 0.03%
• 1M: -0.68%
• 6M: 0.83%
• YTD: 2.48%
• 1Y: 6.31%
• 3Y*: 5.35%
• 5Y*: —
• 10Y*: —

IUGA.L

• 1D: -0.12%
• 1M: 0.89%
• 6M: 1.49%
• YTD: 2.09%
• 1Y: 6.64%
• 3Y*: 6.37%
• 5Y*: 0.75%
• 10Y*: —

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

XAGG.TO vs. IUGA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XAGG.TO iShares U.S. Aggregate Bond Index ETF	2.48%	1.66%	10.15%	1.14%	-6.66%	1.36%
IUGA.L iShares US Aggregate Bond UCITS ETF GBP Hedged (Dist)	2.09%	9.52%	7.66%	6.92%	-18.26%	-1.81%

Correlation

The correlation between XAGG.TO and IUGA.L is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (All Time) Calculated using the full available price history since Jul 27, 2021	0.13

The correlation between XAGG.TO and IUGA.L shifts across timeframes, from 0.05 (1 year) to 0.16 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

XAGG.TO vs. IUGA.L — Risk / Return Rank

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

XAGG.TO

XAGG.TO Risk / Return Rank: 44
XAGG.TO Sharpe Ratio Rank: 46
XAGG.TO Sortino Ratio Rank: 46
XAGG.TO Omega Ratio Rank: 56
XAGG.TO Calmar Ratio Rank: 40
XAGG.TO Martin Ratio Rank: 32

IUGA.L

IUGA.L Risk / Return Rank: 34
IUGA.L Sharpe Ratio Rank: 34
IUGA.L Sortino Ratio Rank: 33
IUGA.L Omega Ratio Rank: 33
IUGA.L Calmar Ratio Rank: 36
IUGA.L Martin Ratio Rank: 34

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.

XAGG.TO vs. IUGA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Aggregate Bond Index ETF (XAGG.TO) and iShares US Aggregate Bond UCITS ETF GBP Hedged (Dist) (IUGA.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.

	XAGG.TO	IUGA.L	Difference
Sharpe ratio: Return per unit of total volatility	1.26	0.73	+0.53
Sortino ratio: Return per unit of downside risk	1.83	1.10	+0.73
Omega ratio: Gain probability vs. loss probability	1.27	1.12	+0.14
Calmar ratio: Return relative to maximum drawdown	1.59	1.20	+0.40
Martin ratio: Return relative to average drawdown	3.58	3.08	+0.50

XAGG.TO vs. IUGA.L - Sharpe Ratio Comparison

The current XAGG.TO Sharpe Ratio is 1.26, which is higher than the IUGA.L Sharpe Ratio of 0.73. The chart below compares the historical Sharpe Ratios of XAGG.TO and IUGA.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.

Drawdowns

XAGG.TO vs. IUGA.L - Drawdown Comparison

The maximum XAGG.TO drawdown since its inception was -12.65%, smaller than the maximum IUGA.L drawdown of -31.78%. Use the drawdown chart below to compare losses from any high point for XAGG.TO and IUGA.L.

Drawdown Indicators

	XAGG.TO	IUGA.L	Difference
Max Drawdown Largest peak-to-trough decline	-12.65%	-31.78%	+19.13%
Max Drawdown (1Y) Largest decline over 1 year	-4.32%	-5.53%	+1.21%
Max Drawdown (3Y) Largest decline over 3 years	-6.64%	-8.54%	+1.90%
Max Drawdown (5Y) Largest decline over 5 years	—	-30.46%	—
Current Drawdown Current decline from peak	-2.01%	-1.33%	-0.68%
Average Drawdown Average peak-to-trough decline	-5.22%	-8.99%	+3.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	2.15%	-0.23%

Volatility

XAGG.TO vs. IUGA.L - Volatility Comparison

The current volatility for iShares U.S. Aggregate Bond Index ETF (XAGG.TO) is 1.46%, while iShares US Aggregate Bond UCITS ETF GBP Hedged (Dist) (IUGA.L) has a volatility of 1.83%. This indicates that XAGG.TO experiences smaller price fluctuations and is considered to be less risky than IUGA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XAGG.TO	IUGA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.46%	1.83%	-0.37%
Volatility (6M) Calculated over the trailing 6-month period	4.17%	6.69%	-2.52%
Volatility (1Y) Calculated over the trailing 1-year period	5.47%	9.04%	-3.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.03%	12.79%	-5.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.03%	12.42%	-5.39%

XAGG.TO vs. IUGA.L - Expense Ratio Comparison

XAGG.TO has a 0.10% expense ratio, which is lower than IUGA.L's 0.30% expense ratio.

Dividends

XAGG.TO vs. IUGA.L - Dividend Comparison

XAGG.TO's dividend yield for the trailing twelve months is around 4.10%, more than IUGA.L's 3.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
IUGA.L iShares US Aggregate Bond UCITS ETF GBP Hedged (Dist)	3.86%	3.68%	3.51%	2.96%	2.25%	1.65%	2.05%	2.64%	1.45%
XAGG.TO iShares U.S. Aggregate Bond Index ETF	4.10%	3.87%	3.07%	2.59%	1.67%	1.04%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XAGG.TO and IUGA.L in my portfolio?

XAGG.TO and IUGA.L have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XAGG.TO or IUGA.L?

On fees, XAGG.TO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XAGG.TO or IUGA.L?

XAGG.TO is cheaper with a 0.10% expense ratio, compared with 0.30% for IUGA.L.

What is the main difference between XAGG.TO and IUGA.L?

XAGG.TO is categorized as Total Bond Market, while IUGA.L is Intermediate Core Bond. XAGG.TO tracks Bloomberg US Aggregate Bond Index, while IUGA.L tracks Bloomberg US Aggregate Bond (GBP Hedged) Index. Their fees differ too: 0.10% for XAGG.TO and 0.30% for IUGA.L.