- Issuer
- iShares
- Inception Date
- Aug 30, 2024
- Category
- Government Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- iShares Spain Govt Bond UCITS ETF GBP Hedged (Dist)
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
SPPB.L Performance Chart
iShares Spain Govt Bond UCITS ETF GBP Hedged (Dist) (SPPB.L) is up 0.9% since the beginning of the year. SPPB.L is currently trading at £5 per share.
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Returns By Period
iShares Spain Govt Bond UCITS ETF GBP Hedged (Dist) (SPPB.L) has returned 0.85% so far this year and 3.26% over the past 12 months.
iShares Spain Govt Bond UCITS ETF GBP Hedged (Dist)
- 1D
- -0.37%
- 1M
- -0.63%
- 6M
- 0.48%
- YTD
- 0.85%
- 1Y
- 3.26%
- 3Y*
- 4.93%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.66%
- 1M
- -0.64%
- 6M
- 8.66%
- YTD
- 10.17%
- 1Y
- 19.99%
- 3Y*
- 17.60%
- 5Y*
- 12.23%
- 10Y*
- 13.06%
SPPB.L Monthly Returns History
Based on dividend-adjusted daily data since Oct 6, 2022, SPPB.L's average daily return is +0.02%, while the average monthly return is +0.35%. At this rate, an investment would double in approximately 16.5 years.
Historically, 63% of months were positive and 37% were negative. The best month was Dec 2023 with a return of +4.0%, while the worst month was Dec 2022 at -3.8%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 2 months.
On a daily basis, SPPB.L closed higher 39% of trading days. The best single day was Mar 15, 2023 with a return of +2.1%, while the worst single day was Mar 5, 2025 at -1.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.56% | 1.67% | -2.38% | 0.56% | 1.12% | 0.67% | -1.30% | 0.85% | |||||
| 2025 | -0.00% | 0.76% | -1.50% | 2.10% | 0.37% | -0.17% | 0.19% | -0.19% | 0.94% | 1.12% | 0.18% | -0.25% | 3.56% |
| 2024 | -0.58% | -0.78% | 1.18% | -0.97% | 0.20% | 0.31% | 2.36% | 0.38% | 1.53% | -0.56% | 2.46% | -1.23% | 4.29% |
| 2023 | 1.86% | -2.23% | 2.69% | -0.20% | 0.40% | -0.21% | 0.00% | 0.41% | -2.22% | 0.62% | 2.87% | 3.95% | 8.02% |
| 2022 | 0.96% | 2.23% | -3.77% | -0.67% |
Benchmark Metrics
iShares Spain Govt Bond UCITS ETF GBP Hedged (Dist) has an annualized alpha of 4.54%, beta of 0.02, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since October 06, 2022.
- This ETF participated in 27.77% of S&P 500 Index downside but only 25.50% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.02 may look defensive, but with R2 of 0.00 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.00 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 4.54%
- Beta
- 0.02
- R²
- 0.00
- Upside Capture
- 25.50%
- Downside Capture
- 27.77%
Return for Risk
Risk / Return Rank
SPPB.L ranks 26 for risk / return — below 26% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for iShares Spain Govt Bond UCITS ETF GBP Hedged (Dist) (SPPB.L) and compare them to S&P 500 Index.
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.
| SPPB.L | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.88 | ||
| Sortino ratioReturn per unit of downside risk | -1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.31 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.05 | 2.50 | -1.45 |
| Martin ratioReturn relative to average drawdown | 3.13 | 9.11 | -5.98 |
Dividends
Dividend History
iShares Spain Govt Bond UCITS ETF GBP Hedged (Dist) provided a 2.48% dividend yield over the last twelve months, with an annual payout of £0.13 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Dividend | £0.13 | £0.13 | £0.10 | £0.07 |
Dividend yield | 2.48% | 2.37% | 1.89% | 1.29% |
Monthly Dividends
The table displays the monthly dividend distributions for iShares Spain Govt Bond UCITS ETF GBP Hedged (Dist). The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | £0.07 | £0.00 | £0.07 | |||||
| 2025 | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | £0.06 | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | £0.07 | £0.13 |
| 2024 | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | £0.05 | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | £0.05 | £0.10 |
| 2023 | £0.03 | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | £0.04 | £0.07 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the iShares Spain Govt Bond UCITS ETF GBP Hedged (Dist). A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the iShares Spain Govt Bond UCITS ETF GBP Hedged (Dist) was 6.07%, occurring on Mar 2, 2023. Recovery took 192 trading sessions.
The current iShares Spain Govt Bond UCITS ETF GBP Hedged (Dist) drawdown is 1.36%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-6.07%Mar 2023 | 2mo 24d | 9mo 8d | 12mo 2dDec 2022 - Dec 2023 | — |
-3.64%Mar 2025 | 2mo 25d | 2mo 25d | 5mo 20dDec 2024 - May 2025 | 2025 selloff2025 |
-3.29%Mar 2026 | 25d | — | 4mo 16dMar 2026 - now | — |
-2.69%Feb 2024 | 1mo 17d | 5mo 4d | 6mo 21dDec 2023 - Jul 2024 | — |
-2.20%Nov 2022 | 10d | 3d | 13dOct 2022 - Nov 2022 | Bear market2022 |
Drawdown Indicators
| SPPB.L | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.07% | -37.07% | +31.00% |
Max Drawdown (1Y)Largest decline over 1 year | -3.29% | -8.03% | +4.74% |
Max Drawdown (3Y)Largest decline over 3 years | -3.64% | -22.15% | +18.51% |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.15% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.01% | — |
Current DrawdownCurrent decline from peak | -1.36% | -1.42% | +0.06% |
Average DrawdownAverage peak-to-trough decline | -1.61% | -5.29% | +3.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | 2.20% | -1.10% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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