XCOU.L vs. V3GP.L

Last updated Jun 5, 2026

XCOU.L (Lyxor Global Green Bond 1-10Y UCITS ETF USD Hedged Acc) and V3GP.L (Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Distributing) are both Global Corporate Bonds funds - XCOU.L tracks the Bloomberg Gbl Agg Corp 0901 TR Hdg USD while V3GP.L tracks the Bloomberg Gbl Agg Corp TR Hdg GBP. Both are passively managed. Over the past 3 years, XCOU.L returned 5.45%/yr vs 8.06%/yr for V3GP.L. A 0.55 correlation means they provide meaningful diversification when combined. Both charge a 0.15% expense ratio.

Performance

XCOU.L vs. V3GP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Lyxor Global Green Bond 1-10Y UCITS ETF USD Hedged Acc (XCOU.L) and Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Distributing (V3GP.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XCOU.L is traded in USD, while V3GP.L is traded in GBP. To make them comparable, the V3GP.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XCOU.L achieves a 0.81% return, which is significantly higher than V3GP.L's 0.35% return.

XCOU.L

• 1D: 0.20%
• 1M: 0.79%
• YTD: 0.81%
• 6M: 1.00%
• 1Y: 3.54%
• 3Y*: 5.45%
• 5Y*: —
• 10Y*: —

V3GP.L

• 1D: 0.28%
• 1M: -0.11%
• YTD: 0.35%
• 6M: 1.52%
• 1Y: 3.37%
• 3Y*: 8.06%
• 5Y*: -0.59%
• 10Y*: —

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

XCOU.L vs. V3GP.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XCOU.L Lyxor Global Green Bond 1-10Y UCITS ETF USD Hedged Acc	0.81%	5.28%	4.41%	8.47%	-4.52%
V3GP.L Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Distributing	0.35%	14.21%	1.83%	13.32%	-9.12%

Correlation

The correlation between XCOU.L and V3GP.L is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (All Time) Calculated using the full available price history since May 27, 2022	0.55

The correlation between XCOU.L and V3GP.L has been stable across timeframes, ranging from 0.50 to 0.55 - a consistent structural relationship.

Return for Risk

XCOU.L vs. V3GP.L — Risk / Return Rank

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

XCOU.L

XCOU.L Risk / Return Rank: 36
XCOU.L Sharpe Ratio Rank: 39
XCOU.L Sortino Ratio Rank: 39
XCOU.L Omega Ratio Rank: 39
XCOU.L Calmar Ratio Rank: 30
XCOU.L Martin Ratio Rank: 32

V3GP.L

V3GP.L Risk / Return Rank: 34
V3GP.L Sharpe Ratio Rank: 34
V3GP.L Sortino Ratio Rank: 34
V3GP.L Omega Ratio Rank: 33
V3GP.L Calmar Ratio Rank: 34
V3GP.L Martin Ratio Rank: 37

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.

XCOU.L vs. V3GP.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lyxor Global Green Bond 1-10Y UCITS ETF USD Hedged Acc (XCOU.L) and Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Distributing (V3GP.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.

	XCOU.L	V3GP.L	Difference
Sharpe ratio: Return per unit of total volatility	1.34	0.40	+0.94
Sortino ratio: Return per unit of downside risk	1.97	0.63	+1.34
Omega ratio: Gain probability vs. loss probability	1.25	1.07	+0.17
Calmar ratio: Return relative to maximum drawdown	1.43	0.55	+0.88
Martin ratio: Return relative to average drawdown	4.66	1.40	+3.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XCOU.L vs. V3GP.L - Sharpe Ratio Comparison

The current XCOU.L Sharpe Ratio is 1.34, which is higher than the V3GP.L Sharpe Ratio of 0.40. The chart below compares the historical Sharpe Ratios of XCOU.L and V3GP.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

	XCOU.L	V3GP.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.34	0.40	+0.94
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.05	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	-0.04	+0.89

Drawdowns

XCOU.L vs. V3GP.L - Drawdown Comparison

The maximum XCOU.L drawdown since its inception was -7.95%, smaller than the maximum V3GP.L drawdown of -37.48%. Use the drawdown chart below to compare losses from any high point for XCOU.L and V3GP.L.

Drawdown Indicators

	XCOU.L	V3GP.L	Difference
Max Drawdown Largest peak-to-trough decline	-7.95%	-37.48%	+29.53%
Max Drawdown (1Y) Largest decline over 1 year	-2.46%	-6.06%	+3.60%
Max Drawdown (3Y) Largest decline over 3 years	-2.46%	-11.45%	+8.99%
Max Drawdown (5Y) Largest decline over 5 years	—	-37.48%	—
Current Drawdown Current decline from peak	-0.77%	-3.52%	+2.75%
Average Drawdown Average peak-to-trough decline	-1.57%	-14.46%	+12.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.76%	2.40%	-1.64%

Volatility

XCOU.L vs. V3GP.L - Volatility Comparison

The current volatility for Lyxor Global Green Bond 1-10Y UCITS ETF USD Hedged Acc (XCOU.L) is 1.20%, while Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Distributing (V3GP.L) has a volatility of 2.79%. This indicates that XCOU.L experiences smaller price fluctuations and is considered to be less risky than V3GP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XCOU.L	V3GP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.20%	2.79%	-1.59%
Volatility (6M) Calculated over the trailing 6-month period	2.24%	6.16%	-3.92%
Volatility (1Y) Calculated over the trailing 1-year period	2.63%	8.46%	-5.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.10%	11.38%	-7.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.10%	11.36%	-7.26%

XCOU.L vs. V3GP.L - Expense Ratio Comparison

Both XCOU.L and V3GP.L have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

XCOU.L vs. V3GP.L - Dividend Comparison

XCOU.L has not paid dividends to shareholders, while V3GP.L's dividend yield for the trailing twelve months is around 4.37%.

Position	TTM	2025	2024	2023	2022	2021
V3GP.L Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Distributing	4.37%	4.43%	4.36%	4.10%	2.48%	0.71%
XCOU.L Lyxor Global Green Bond 1-10Y UCITS ETF USD Hedged Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XCOU.L and V3GP.L in my portfolio?

XCOU.L and V3GP.L have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XCOU.L or V3GP.L?

Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XCOU.L or V3GP.L?

XCOU.L and V3GP.L have the same expense ratio: 0.15% per year.

What is the main difference between XCOU.L and V3GP.L?

XCOU.L tracks Bloomberg Gbl Agg Corp 0901 TR Hdg USD, while V3GP.L tracks Bloomberg Gbl Agg Corp TR Hdg GBP. They also come from different issuers: Amundi and Vanguard.