# Vanguard Global Government Bond UCITS ETF -Hedged- GBP (VGGP)

**Page:** https://fundology.uk/fund/vggp · ISIN IE000A2E14U6

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 13/11/2026, VGGP (Vanguard Global Government Bond UCITS ETF -Hedged- GBP, ISIN IE000A2E14U6) closed at £4.84 on the London Stock Exchange. Its ongoing charge is 0.10% a year (about £10 on £10,000). Over the year to 13/11/2026 its total return was −0.6%, or −4.1% after UK CPIH inflation.

## Summary

Vanguard Global Government Bond UCITS ETF -Hedged- GBP is an exchange-traded fund (ETF) from Vanguard, launched in 2025. It tracks the Bloomberg Global Treasury Developed Countries Float Adjusted Index - GBP - Benchmark TR Net Hedged. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.1% a year — about £10 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is paid out to holders as cash, usually a few times a year. It is currency-hedged: it aims to remove most of the effect of exchange-rate moves against the pound.

Latest close: **£4.84** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | VGGP |
| ISIN | IE000A2E14U6 |
| Category | Government bonds |
| Type | ETF |
| Provider | Vanguard |
| Tracks | Bloomberg Global Treasury Developed Countries Float Adjusted Index - GBP - Benchmark TR Net Hedged |
| Income | Distributing |
| Ongoing charge | 0.10% a year (£10 per £10,000) |
| Fund size | £2.8m |
| Launched | 2025 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 25/03/2025 |

## Income and distributions

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 14/11/2026, the latest distribution of VGGP was £0.012222 per share: it went ex-dividend on 15/10/2026 and was paid on 28/10/2026. In the 12 months to 14/11/2026 VGGP declared 12 distributions, together £0.168286 per share. VGGP has a distribution yield of 3.46% as at 31/10/2026.

Latest distributions of VGGP per share, as of 14/11/2026:

| Ex-dividend date | Payment date | Amount per share |
|---|---|---|
| 15/10/2026 | 28/10/2026 | £0.012222 |
| 17/09/2026 | 30/09/2026 | £0.013518 |
| 20/08/2026 | 02/09/2026 | £0.016541 |
| 16/07/2026 | 29/07/2026 | £0.012831 |
| 18/06/2026 | 01/07/2026 | £0.013971 |
| 21/05/2026 | 03/06/2026 | £0.016088 |
| 16/04/2026 | 29/04/2026 | £0.012648 |
| 19/03/2026 | 01/04/2026 | £0.013209 |

Distributions are not guaranteed: they can rise, fall or stop. Future dates are set and announced by the fund manager. 19 distributions are on record since 17/04/2025.

## Past returns (periods to 13/11/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | -0.60% | -4.12% | income reinvested |

Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of Vanguard Global Government Bond UCITS ETF -Hedged- GBP in pounds (price only, income paid out not included): 2026 to 13/11/2026 −3.8%. Returns of Vanguard Global Government Bond UCITS ETF -Hedged- GBP in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: −5.4%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2026 to 13/11/2026 | -3.8% | -6.8% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 3.70% | -6.08% |

## Largest fall

Volatility of Vanguard Global Government Bond UCITS ETF -Hedged- GBP in pounds, annualised from weekly returns to 13/11/2026: 3.7% over 1 year. Largest fall in the price of Vanguard Global Government Bond UCITS ETF -Hedged- GBP since March 2025, in pounds: −6.1% from 27/02/2026 to 25/09/2026. On 13/11/2026 the price of Vanguard Global Government Bond UCITS ETF -Hedged- GBP was 5.2% below its highest weekly close since March 2025 (27/02/2026), in pounds.

## Charges compared with similar funds

Ongoing charge of Vanguard Global Government Bond UCITS ETF -Hedged- GBP 0.10% a year. Compared on 14/11/2026, 184 of the 311 other government bond funds charge more, 39 the same and 88 less (share classes counted once).

## Funds tracking the same index

2 funds track Bloomberg Global Treasury Developed Countries Float Adjusted Index - GBP - Benchmark TR Net Hedged, this one included and share classes counted once; their ongoing charges range from 0.10% to 0.10% a year (13/11/2026).

| Fund | Ongoing charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| Vanguard Global Government Bond UCITS ETF -Hedged- GBP (this fund) | 0.10% | -0.6% | — | — |
| Vanguard Global Government Bond UCITS ETF Accum-Hedged- GBP | 0.10% | +0.2% | — | — |

Returns are as reported, in pounds, income reinvested unless marked "(price)".

## Charges & eligibility

- Ongoing charges figure (OCF): **0.10%** per year (as of 14/11/2026)
- Stocks and shares ISA eligible: usually (check with your platform)
- SIPP eligible: usually (check with your provider)
- ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify.

## What it holds

As of 31/10/2026, VGGP holds 1,186 positions, according to its published holdings. The largest is French Republic Government Bond OAT 2.40% 24/09/2028 at 0.64% of the fund; the ten largest make up 4.9%.

### Top holdings

Largest positions (as of 31/10/2026), as a percentage of the whole fund:

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | French Republic Government Bond OAT 2.40% 24/09/2028 | — | 0.64% |
| 2 | Italy Buoni Poliennali Del Tesoro 3.45% 15/07/2031 | — | 0.54% |
| 3 | Spain Government Bond 2.40% 31/05/2028 | — | 0.53% |
| 4 | French Republic Government Bond OAT 0.00% 25/11/2030 | — | 0.51% |
| 5 | Spain Government Bond 3.10% 30/07/2031 | — | 0.51% |
| 6 | United States Treasury Note/Bond 3.75% 30/04/2028 | — | 0.47% |
| 7 | French Republic Government Bond OAT 2.70% 25/02/2031 | — | 0.44% |
| 8 | United States Treasury Note/Bond 4.625% 15/02/2035 | — | 0.44% |
| 9 | United States Treasury Note/Bond 3.875% 15/08/2034 | — | 0.42% |
| 10 | United States Treasury Note/Bond 4.125% 30/06/2028 | — | 0.42% |

## Where it invests

Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed.

### By country

Added up from the fund’s published holdings, as of 31/10/2026.

| Country | Weight |
|---|---|
| United States | 47.5% |
| Japan | 10.3% |
| France | 6.8% |
| Italy | 6.4% |
| United Kingdom | 6.3% |
| Germany | 5.8% |
| Spain | 4.3% |
| Canada | 2.2% |
| Other countries | 9.5% |
| Not classified | 0.4% |

### By type of asset

Added up from the fund’s published holdings, as of 31/10/2026.

| Type of asset | Weight |
|---|---|
| Bonds | 99.1% |
| Cash and money market | 0.4% |

The 1,007 holdings on record (of 1,186 reported): https://fundology.uk/fund/vggp/holdings

## Questions people ask

**What is the ongoing charge of VGGP?**

The ongoing charge of VGGP is 0.10% a year — about £10 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of Vanguard Global Government Bond UCITS ETF -Hedged- GBP 0.10% a year. Compared on 14/11/2026, 184 of the 311 other government bond funds charge more, 39 the same and 88 less (share classes counted once).

**What does VGGP track?**

VGGP tracks the Bloomberg Global Treasury Developed Countries Float Adjusted Index - GBP - Benchmark TR Net Hedged.

**Is VGGP accumulating or distributing?**

VGGP is distributing: income is paid out to holders as cash, usually a few times a year. It pays out monthly.

**When does VGGP pay dividends?**

VGGP pays its income out monthly. In the 12 months to 14/11/2026 it went ex-dividend on 20/11/2025, 18/12/2025, 15/01/2026, 19/02/2026, 19/03/2026, 16/04/2026, 21/05/2026, 18/06/2026, 16/07/2026, 20/08/2026, 17/09/2026 and 15/10/2026. The latest distribution went ex-dividend on 15/10/2026 and was paid on 28/10/2026. Future dates are set and announced by the fund manager; distributions are not guaranteed and can change.

**What is VGGP’s dividend yield?**

VGGP has a distribution yield of 3.46% as at 31/10/2026. In UK fund terms, a distribution yield is the income expected to be paid over the next 12 months as a percentage of the price on that date — an estimate, not a promise. Yields change with the fund’s price and income; a yield describes the fund, not what any investor will receive.

**What is the ISIN of VGGP?**

The ISIN of VGGP is IE000A2E14U6. An ISIN identifies one exact share class of a fund; VGGP is its ticker on the London Stock Exchange.

**What does VGGP hold?**

As of 31/10/2026, VGGP holds 1,186 positions, according to its published holdings. The largest is French Republic Government Bond OAT 2.40% 24/09/2028 at 0.64% of the fund; the ten largest make up 4.9%. Its ten largest holdings are French Republic Government Bond OAT 2.40% 24/09/2028 (0.64%), Italy Buoni Poliennali Del Tesoro 3.45% 15/07/2031 (0.54%), Spain Government Bond 2.40% 31/05/2028 (0.53%), French Republic Government Bond OAT 0.00% 25/11/2030 (0.51%), Spain Government Bond 3.10% 30/07/2031 (0.51%), United States Treasury Note/Bond 3.75% 30/04/2028 (0.47%), French Republic Government Bond OAT 2.70% 25/02/2031 (0.44%), United States Treasury Note/Bond 4.625% 15/02/2035 (0.44%), United States Treasury Note/Bond 3.875% 15/08/2034 (0.42%) and United States Treasury Note/Bond 4.125% 30/06/2028 (0.42%).

**What were VGGP’s returns in each of the last five years?**

Calendar-year returns of VGGP in pounds (price only, income paid out not included): 2026 to 13/11/2026 −3.8%. Past performance is not a guide to future returns.

**How has VGGP done after inflation?**

Over the year to 13/11/2026 VGGP’s total return was −0.6%, or −4.1% after UK CPIH inflation. Past performance is not a guide to future returns.

## Fund documents

- [Fund page at Vanguard](https://www.vanguard.co.uk/professional/product/etf/bond/E073/global-government-bond-ucits-etf-gbp-hedged-distributing)
- [Key investor information document (KIID)](https://fund-docs.vanguard.com/ie000a2e14u6-en.pdf)
- [Factsheet](https://fund-docs.vanguard.com/Global_Government_Bond_UCITS_ETF_GBP_Hedged_Distributing_E073_EU_INT_UK_EN.pdf)
- Links checked 12/10/2026.

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.