CEUG.L vs. IGLS.L
CEUG.L (iShares MSCI EMU UCITS ETF GBP Hedged (Dist)) and IGLS.L (iShares UK Gilts 0-5yr UCITS ETF GBP (Dist)) are both exchange-traded funds - CEUG.L is a Europe Equities fund tracking the MSCI Europe NR EUR, while IGLS.L is a European Government Bonds fund tracking the FTSE Act UK Cnvt Gilts All Stocks TR GBP. Both are passively managed. Over the past 5 years, CEUG.L returned 12.03%/yr vs 1.32%/yr for IGLS.L. At a 0.01 correlation, their price movements are largely independent. CEUG.L charges 0.12%/yr vs 0.07%/yr for IGLS.L.
Performance
CEUG.L vs. IGLS.L - Performance Comparison
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Returns By Period
In the year-to-date period, CEUG.L achieves a 9.89% return, which is significantly higher than IGLS.L's 0.26% return.
CEUG.L
- 1D
- 0.43%
- 1M
- 4.93%
- YTD
- 9.89%
- 6M
- 11.74%
- 1Y
- 20.38%
- 3Y*
- 17.97%
- 5Y*
- 12.03%
- 10Y*
- —
IGLS.L
- 1D
- 0.08%
- 1M
- 0.40%
- YTD
- 0.26%
- 6M
- 0.72%
- 1Y
- 3.13%
- 3Y*
- 4.24%
- 5Y*
- 1.32%
- 10Y*
- 0.89%
CEUG.L vs. IGLS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
CEUG.L iShares MSCI EMU UCITS ETF GBP Hedged (Dist) | 9.89% | 26.75% | 10.82% | 20.52% | -10.51% | 22.89% | -0.23% | 26.22% | -13.84% |
IGLS.L iShares UK Gilts 0-5yr UCITS ETF GBP (Dist) | 0.26% | 5.26% | 2.65% | 4.19% | -4.45% | -1.68% | 1.49% | 1.05% | 0.27% |
Correlation
The correlation between CEUG.L and IGLS.L is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2018 | 0.01 |
Over the past year, CEUG.L and IGLS.L have become more correlated (0.32) than their long-term average of 0.01, meaning their price movements have been converging.
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Return for Risk
CEUG.L vs. IGLS.L — Risk / Return Rank
CEUG.L
IGLS.L
CEUG.L vs. IGLS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EMU UCITS ETF GBP Hedged (Dist) (CEUG.L) and iShares UK Gilts 0-5yr UCITS ETF GBP (Dist) (IGLS.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.
| CEUG.L | IGLS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.31 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.03 | 1.59 | +0.44 |
| Martin ratioReturn relative to average drawdown | 7.54 | 5.45 | +2.09 |
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
| CEUG.L | IGLS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.44 | 1.56 | -0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.74 | 0.49 | +0.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.41 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.69 | -0.11 |
Drawdowns
CEUG.L vs. IGLS.L - Drawdown Comparison
The maximum CEUG.L drawdown since its inception was -38.52%, which is greater than IGLS.L's maximum drawdown of -9.54%. Use the drawdown chart below to compare losses from any high point for CEUG.L and IGLS.L.
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Drawdown Indicators
| CEUG.L | IGLS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.52% | -9.54% | -28.98% |
Max Drawdown (1Y)Largest decline over 1 year | -9.98% | -1.95% | -8.03% |
Max Drawdown (3Y)Largest decline over 3 years | -15.34% | -1.95% | -13.39% |
Max Drawdown (5Y)Largest decline over 5 years | -24.07% | -8.85% | -15.22% |
Max Drawdown (10Y)Largest decline over 10 years | — | -9.54% | — |
Current DrawdownCurrent decline from peak | -0.12% | -0.65% | +0.53% |
Average DrawdownAverage peak-to-trough decline | -5.52% | -1.10% | -4.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.70% | 0.57% | +2.13% |
Volatility
CEUG.L vs. IGLS.L - Volatility Comparison
iShares MSCI EMU UCITS ETF GBP Hedged (Dist) (CEUG.L) has a higher volatility of 5.01% compared to iShares UK Gilts 0-5yr UCITS ETF GBP (Dist) (IGLS.L) at 0.77%. This indicates that CEUG.L's price experiences larger fluctuations and is considered to be riskier than IGLS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CEUG.L | IGLS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.01% | 0.77% | +4.24% |
Volatility (6M)Calculated over the trailing 6-month period | 11.39% | 1.75% | +9.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.07% | 1.99% | +12.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.17% | 2.67% | +13.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.04% | 2.18% | +15.86% |
CEUG.L vs. IGLS.L - Expense Ratio Comparison
CEUG.L has a 0.12% expense ratio, which is higher than IGLS.L's 0.07% 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
CEUG.L vs. IGLS.L - Dividend Comparison
CEUG.L's dividend yield for the trailing twelve months is around 2.35%, less than IGLS.L's 3.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEUG.L iShares MSCI EMU UCITS ETF GBP Hedged (Dist) | 2.35% | 2.53% | 2.80% | 2.73% | 2.84% | 1.81% | 1.77% | 3.05% | 0.38% | 0.00% | 0.00% | 0.00% |
IGLS.L iShares UK Gilts 0-5yr UCITS ETF GBP (Dist) | 3.99% | 3.88% | 3.67% | 1.62% | 0.30% | 0.25% | 0.53% | 0.46% | 0.33% | 0.53% | 0.88% | 0.48% |
Frequently Asked Questions
CEUG.L and IGLS.L have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGLS.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGLS.L is cheaper with a 0.07% expense ratio, compared with 0.12% for CEUG.L.
CEUG.L is categorized as Europe Equities, while IGLS.L is European Government Bonds. CEUG.L tracks MSCI Europe NR EUR, while IGLS.L tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP. Their fees differ too: 0.12% for CEUG.L and 0.07% for IGLS.L.
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