Global Government Bond UCITS ETF - GBP Hedged Accumulating (VGGS)

About this fund

Fund objectives

The Fund employs a passive management – or indexing – investment approach, through physical acquisition of securities, and seeks to track the performance of the Bloomberg Global Treasury Developed Countries Float Adjusted Index (the “Index”).
The Fund will invest in a portfolio of local currency government bonds (including callable bonds) from developed countries (as determined by the index provider) that insofar as possible and practicable consists of a representative sample of the component securities of the Index.
The index is designed to reflect the universe of float adjusted fixed-rate, investment-grade, local currency government debt of developed (as determined by the index provider) countries. The bonds must have a maturity of at least one year.
To a lesser extent the Fund may invest in similar types of bonds outside the Index, but whose risk and return characteristics closely resemble the risk and return characteristics of constituents of the Index or of the Index as a whole.
The Fund invests in securities which are denominated in currencies other than the base currency. Movements in currency exchange rates can affect the return of investments. Currency hedging techniques are used to minimise the risks associated with movements in currency exchange rates, where the Fund invests in securities denominated in currencies other than the listing currency, but these risks cannot be eliminated entirely. As this document relates to a share class where such techniques are used, the performance (see "Performance") of this share class is shown against the currency hedged version of the Index.
The Fund attempts to remain fully invested except in extraordinary market, political or similar conditions where the Fund may temporarily depart from this investment policy to avoid losses.
While the Fund is expected to track the Index as closely as possible, it typically will not match the performance of the targeted Index exactly, due to various factors such as expenses to be paid by the Fund and regulatory constraints. Details of these factors and the anticipated tracking error of the Fund are set out in the Prospectus.

Fund facts

Share class inception

25 Mar 2025

Listing date

27 Mar 2025

Investment structure

Irish UCITS

Share Class Assets'

Total Assets

Risk indicator

Strategy

Index

Asset Class

Bond

Domicile

Ireland

Tax status

Austria, Italy, Switzerland and United Kingdom reporting

Investment method

Physical

Index ticker

H38855GB

Dividend schedule

—

Benchmark

Bloomberg Global Treasury Developed Countries Float Adjusted Index Hedged in GBP

Legal entity

Vanguard Funds PLC

Investment manager

Vanguard Asset Management, Ltd.
Global Fixed Income Team

The value of investments, and the income from them, may fall or rise and investors may get back less than they invested.

Performance

Risk and Volatility

Sorry, this information is not available yet. It will display a year after inception date.

Please note Beta and R-squared data will only display for funds with 3 full years of history.

The value of investments, and the income from them, may fall or rise and investors may get back less than they invested.

Portfolio data

Characteristics

Fundamentals	Fund	Benchmark	As at
Number of bonds	935	1,395	31 Dec 2025
	3.5%	3.5%	31 Jan 2026
	2.9%	2.8%	31 Dec 2025
	8.7 Years	8.7 Years	31 Dec 2025
	AA	AA	31 Dec 2025
	6.7 Years	6.7 Years	31 Dec 2025
Cash Investment	0.9%	—	31 Dec 2025

Market allocation

As at 31 Dec 2025

Country	Region	Fund	Benchmark	Variance +/-
United States of America	North America	46.80%	47.25%	-0.45%
Japan	Pacific	10.04%	10.03%	0.01%
France	Europe	7.45%	7.40%	0.05%
Italy	Europe	7.09%	6.95%	0.14%
United Kingdom	Europe	5.97%	6.12%	-0.15%
Germany	Europe	5.41%	5.87%	-0.46%
Spain	Europe	4.60%	4.45%	0.15%
Canada	North America	2.01%	2.06%	-0.05%
Australia	Pacific	1.57%	1.61%	-0.04%
Belgium	Europe	1.50%	1.55%	-0.05%
Netherlands	Europe	1.31%	1.30%	0.01%
Austria	Europe	1.11%	1.10%	0.01%
Other	Other	0.92%	0.00%	0.92%
Portugal	Europe	0.63%	0.60%	0.03%
Ireland	Europe	0.49%	0.44%	0.05%

Distribution by credit quality (% of funds)

As at 31 Dec 2025

Credit Rating	Fund	Benchmark	Variance +/-
AAA	12.17%	12.63%	-0.46%
AA	56.78%	57.01%	-0.23%
A	22.96%	22.99%	-0.02%
BBB	7.23%	7.04%	0.19%
Not Rated	0.85%	0.34%	0.51%
Total	100.00%	100.00%

Distribution by credit issuer (% of funds)

As at 31 Dec 2025

Issuers	Fund	Benchmark	Variance +/-
Treasury/Federal	99.50%	99.98%	-0.49%
Cash	0.92%	—	—
Other	-0.42%	0.02%	-0.44%
Total	100.00%	100.00%

Distribution by credit maturity (% of funds)

As at 31 Dec 2025

Maturity	Fund	Benchmark	Variance +/-
Under 1 Year	0.50%	0.02%	0.49%
1 - 5 Years	46.75%	47.09%	-0.34%
5 - 10 Years	26.67%	26.78%	-0.11%
10 - 15 Years	6.14%	6.42%	-0.28%
15 - 20 Years	7.80%	7.82%	-0.02%
20 - 25 Years	4.00%	3.96%	0.04%
Over 25 Years	8.13%	7.92%	0.21%
Total	100.00%	100.01%

Holdings details

As at 31 Dec 2025

Holding name	% of market value	Market value	Face amount	Coupon/Yield	Maturity date
Spain Government Bond	0.70389%	£920,184.46	770,000	3.10%	30 Jul 2031
Italy Buoni Poliennali Del Tesoro	0.70196%	£917,653.93	760,000	3.45%	15 Jul 2031
Italy Buoni Poliennali Del Tesoro	0.68766%	£898,966.93	800,000	0.25%	15 Mar 2028
French Republic Government Bond OAT	0.55286%	£722,746.12	610,000	2.75%	25 Oct 2027
French Republic Government Bond OAT	0.55225%	£721,941.86	680,000	0.00%	25 Nov 2029
United States Treasury Note/Bond	0.54775%	£716,064.38	696,000	4.50%	31 May 2029
United States Treasury Note/Bond	0.54232%	£708,968.75	700,000	4.00%	28 Feb 2030
Bundesschatzanweisungen	0.53098%	£694,139.94	590,000	2.20%	11 Mar 2027
United Kingdom Gilt	0.52955%	£692,274.80	510,000	4.13%	22 Jul 2029
United Kingdom Gilt	0.52238%	£682,892.30	510,000	4.00%	22 Oct 2031

Prices and distribution

Prices

NAV Price (GBP)

£5.22

Change

+£0.010.23%

At closure 13 Feb 2026

Market value (GBP)

£5.22

Change

+£0.030.51%

At closure 13 Feb 2026

NAV 52-week high

£5.22

At closure 14 Feb 2026

Market value 52-week high

£5.22

At closure 14 Feb 2026

NAV 52-week low

£5.00

At closure 14 Feb 2026

Market value 52-week low

£5.00

At closure 14 Feb 2026

NAV 52-week difference

£0.22

Change

+4.22%

At closure 14 Feb 2026

Market value 52-week difference

£0.22

Change

+4.24%

At closure 14 Feb 2026

Outstanding shares

8,987,027

At closure 31 Jan 2026

Historical Prices

Date	NAV (GBP)	Market price (GBP)
13 Feb 2026	£5.2159	£5.2180
12 Feb 2026	£5.2040	£5.1915
11 Feb 2026	£5.1868	£5.1915
10 Feb 2026	£5.1904	£5.1925
09 Feb 2026	£5.1748	£5.1700
06 Feb 2026	£5.1736	£5.1745
05 Feb 2026	£5.1732	£5.1720
04 Feb 2026	£5.1588	£5.1605
03 Feb 2026	£5.1575	£5.1595
02 Feb 2026	£5.1591	£5.1615

Distribution history

All dividends are reinvested for the "Accumulation" shares.

Purchase information

Currencies and stock exchanges

Listed currencies: GBP

Base currency: GBP

Exchanges: London Stock Exchange

Fund codes

Ticker iNav Bloomberg: IVGGSGBP
Bloomberg: VGGS LN
Citi: BLSL4D
ISIN: IE000AI6QNJ5
MEX ID: VRAACU
Reuters: VGGS.L
SEDOL: BTCH8V8
Exchange ticker: VGGS

Ticker iNav Bloomberg: IVGGSGBP
Bloomberg: VGGS LN
Citi: BLSL4D
ISIN: IE000AI6QNJ5
Reuters: VGGS.L
SEDOL: BTCH8V8
Exchange ticker: VGGS