020Y.L vs. IBGL.L
020Y.L (iShares € Govt Bond 20yr Target Duration UCITS ETF) and IBGL.L (iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist)) are both exchange-traded funds - 020Y.L is a European Government Bonds fund tracking the Markit iBoxx EUR Eurozone 20yr Target Duration Index, while IBGL.L is a Long-Term Bond fund tracking the Bloomberg Euro Government Bond 30 Year Term Index. Both are passively managed. Over the past 5 years, 020Y.L returned -10.85%/yr vs -8.12%/yr for IBGL.L. A 0.70 correlation means they provide meaningful diversification when combined. Both charge a 0.15% expense ratio.
Performance
020Y.L vs. IBGL.L - Performance Comparison
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Different Trading Currencies
020Y.L is traded in EUR, while IBGL.L is traded in GBP. To make them comparable, the IBGL.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with 020Y.L having a -1.08% return and IBGL.L slightly lower at -1.13%.
020Y.L
- 1D
- 0.65%
- 1M
- -3.49%
- 6M
- -2.00%
- YTD
- -1.08%
- 1Y
- -4.43%
- 3Y*
- -3.75%
- 5Y*
- -10.85%
- 10Y*
- —
IBGL.L
- 1D
- 0.36%
- 1M
- -2.82%
- 6M
- -2.22%
- YTD
- -1.13%
- 1Y
- -2.03%
- 3Y*
- -0.74%
- 5Y*
- -8.12%
- 10Y*
- -2.63%
020Y.L vs. IBGL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
020Y.L iShares € Govt Bond 20yr Target Duration UCITS ETF | -1.08% | -10.89% | -5.04% | 7.85% | -36.19% | -8.42% | 1.97% |
IBGL.L iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) | -1.13% | -5.97% | -0.48% | 9.78% | -34.04% | -7.38% | 4.24% |
Correlation
The correlation between 020Y.L and IBGL.L is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2020 | 0.70 |
The correlation between 020Y.L and IBGL.L shifts across timeframes, from 0.70 (all time) to 0.84 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
020Y.L vs. IBGL.L — Risk / Return Rank
020Y.L
IBGL.L
020Y.L vs. IBGL.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares € Govt Bond 20yr Target Duration UCITS ETF (020Y.L) and iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) (IBGL.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.
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.
| 020Y.L | IBGL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.25 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 0.97 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.62 | -0.31 | -0.31 |
| Martin ratioReturn relative to average drawdown | -1.13 | -0.64 | -0.49 |
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Drawdowns
020Y.L vs. IBGL.L - Drawdown Comparison
The maximum 020Y.L drawdown since its inception was -48.58%, which is greater than IBGL.L's maximum drawdown of -43.72%. Use the drawdown chart below to compare losses from any high point for 020Y.L and IBGL.L.
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Drawdown Indicators
| 020Y.L | IBGL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.58% | -43.72% | -4.86% |
Max Drawdown (1Y)Largest decline over 1 year | -7.16% | -6.45% | -0.71% |
Max Drawdown (3Y)Largest decline over 3 years | -19.23% | -12.07% | -7.16% |
Max Drawdown (5Y)Largest decline over 5 years | -47.47% | -42.08% | -5.39% |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.72% | — |
Current DrawdownCurrent decline from peak | -47.88% | -38.15% | -9.73% |
Average DrawdownAverage peak-to-trough decline | -32.93% | -14.95% | -17.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.93% | 3.16% | +0.77% |
Volatility
020Y.L vs. IBGL.L - Volatility Comparison
iShares € Govt Bond 20yr Target Duration UCITS ETF (020Y.L) has a higher volatility of 3.21% compared to iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) (IBGL.L) at 2.58%. This indicates that 020Y.L's price experiences larger fluctuations and is considered to be riskier than IBGL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 020Y.L | IBGL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.21% | 2.58% | +0.63% |
Volatility (6M)Calculated over the trailing 6-month period | 8.07% | 7.20% | +0.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.92% | 9.11% | +1.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.01% | 13.99% | +30.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.92% | 12.23% | +28.69% |
020Y.L vs. IBGL.L - Expense Ratio Comparison
Both 020Y.L and IBGL.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
020Y.L vs. IBGL.L - Dividend Comparison
020Y.L's dividend yield for the trailing twelve months is around 3.63%, less than IBGL.L's 3.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
020Y.L iShares € Govt Bond 20yr Target Duration UCITS ETF | 3.63% | 3.42% | 2.94% | 2.11% | 0.91% | 0.10% | 0.11% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IBGL.L iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) | 3.81% | 3.48% | 3.23% | 2.65% | 1.28% | 0.55% | 0.73% | 1.28% | 1.48% | 1.32% | 1.41% | 1.78% |
Frequently Asked Questions
020Y.L and IBGL.L have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
020Y.L and IBGL.L have the same expense ratio: 0.15% per year.
020Y.L is categorized as European Government Bonds, while IBGL.L is Long-Term Bond. 020Y.L tracks Markit iBoxx EUR Eurozone 20yr Target Duration Index, while IBGL.L tracks Bloomberg Euro Government Bond 30 Year Term Index.
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