XGSI.L vs. VAGP.L
XGSI.L (Xtrackers Global Government Bond UCITS ETF 3C USD hedged) and VAGP.L (Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing) are both Global Bonds funds - XGSI.L tracks the Bloomberg Global Aggregate TR Hdg USD while VAGP.L tracks the Bloomberg Global Aggregate TR Hdg GBP. Both are passively managed. Over the past 5 years, XGSI.L returned -0.67%/yr vs -1.29%/yr for VAGP.L. At a 0.43 correlation, their price movements are largely independent. XGSI.L charges 0.25%/yr vs 0.10%/yr for VAGP.L.
Performance
XGSI.L vs. VAGP.L - Performance Comparison
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Different Trading Currencies
XGSI.L is traded in USD, while VAGP.L is traded in GBP. To make them comparable, the VAGP.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, XGSI.L achieves a -0.36% return, which is significantly lower than VAGP.L's -0.06% return.
XGSI.L
- 1D
- 0.08%
- 1M
- 0.28%
- YTD
- -0.36%
- 6M
- -0.28%
- 1Y
- 2.05%
- 3Y*
- 2.69%
- 5Y*
- -0.67%
- 10Y*
- —
VAGP.L
- 1D
- 0.34%
- 1M
- -0.50%
- YTD
- -0.06%
- 6M
- 1.10%
- 1Y
- 2.26%
- 3Y*
- 6.42%
- 5Y*
- -1.29%
- 10Y*
- —
XGSI.L vs. VAGP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XGSI.L Xtrackers Global Government Bond UCITS ETF 3C USD hedged | -0.36% | 3.99% | 1.24% | 5.84% | -13.31% | -2.49% | 5.86% | 1.54% |
VAGP.L Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing | -0.06% | 12.88% | 0.80% | 11.42% | -23.02% | -2.91% | 8.54% | 6.73% |
Correlation
The correlation between XGSI.L and VAGP.L is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2019 | 0.43 |
The correlation between XGSI.L and VAGP.L shifts across timeframes, from 0.43 (all time) to 0.55 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
XGSI.L vs. VAGP.L — Risk / Return Rank
XGSI.L
VAGP.L
XGSI.L vs. VAGP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers Global Government Bond UCITS ETF 3C USD hedged (XGSI.L) and Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing (VAGP.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.
| XGSI.L | VAGP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.05 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.65 | 0.41 | +0.24 |
| Martin ratioReturn relative to average drawdown | 1.81 | 0.96 | +0.85 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XGSI.L | VAGP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.46 | 0.27 | +0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.13 | -0.12 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.12 | +0.10 |
Drawdowns
XGSI.L vs. VAGP.L - Drawdown Comparison
The maximum XGSI.L drawdown since its inception was -17.29%, smaller than the maximum VAGP.L drawdown of -35.75%. Use the drawdown chart below to compare losses from any high point for XGSI.L and VAGP.L.
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Drawdown Indicators
| XGSI.L | VAGP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.29% | -35.75% | +18.46% |
Max Drawdown (1Y)Largest decline over 1 year | -3.15% | -5.54% | +2.39% |
Max Drawdown (3Y)Largest decline over 3 years | -4.29% | -11.71% | +7.42% |
Max Drawdown (5Y)Largest decline over 5 years | -16.39% | -35.75% | +19.36% |
Current DrawdownCurrent decline from peak | -6.48% | -6.85% | +0.37% |
Average DrawdownAverage peak-to-trough decline | -5.68% | -11.63% | +5.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.13% | 2.34% | -1.21% |
Volatility
XGSI.L vs. VAGP.L - Volatility Comparison
The current volatility for Xtrackers Global Government Bond UCITS ETF 3C USD hedged (XGSI.L) is 1.47%, while Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing (VAGP.L) has a volatility of 2.78%. This indicates that XGSI.L experiences smaller price fluctuations and is considered to be less risky than VAGP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XGSI.L | VAGP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.47% | 2.78% | -1.31% |
Volatility (6M)Calculated over the trailing 6-month period | 2.87% | 6.28% | -3.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.41% | 8.32% | -3.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.30% | 10.78% | -5.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.77% | 10.80% | -6.03% |
XGSI.L vs. VAGP.L - Expense Ratio Comparison
XGSI.L has a 0.25% expense ratio, which is higher than VAGP.L's 0.10% 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
XGSI.L vs. VAGP.L - Dividend Comparison
XGSI.L has not paid dividends to shareholders, while VAGP.L's dividend yield for the trailing twelve months is around 3.55%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
VAGP.L Vanguard Global Aggregate Bond UCITS ETF GBP Hedged Distributing | 3.55% | 3.50% | 3.08% | 2.37% | 1.46% | 0.86% | 1.21% | 0.59% |
XGSI.L Xtrackers Global Government Bond UCITS ETF 3C USD hedged | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XGSI.L and VAGP.L have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VAGP.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VAGP.L is cheaper with a 0.10% expense ratio, compared with 0.25% for XGSI.L.
XGSI.L tracks Bloomberg Global Aggregate TR Hdg USD, while VAGP.L tracks Bloomberg Global Aggregate TR Hdg GBP. They also come from different issuers: DWS and Vanguard. Their fees differ too: 0.25% for XGSI.L and 0.10% for VAGP.L.
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