CU31.L vs. INXG.L
CU31.L (iShares USD Treasury Bond 1-3yr UCITS ETF (Acc)) and INXG.L (iShares £ Index-Linked Gilts UCITS ETF) are both Government Bonds funds from iShares - CU31.L tracks the ICE US Treasury 1-3 Year Index while INXG.L tracks the Bloomberg UK Government Inflation-Linked Bond Index. Both are passively managed. Over the past 10 years, CU31.L returned 2.48%/yr vs -1.18%/yr for INXG.L. At a 0.11 correlation, their price movements are largely independent. CU31.L charges 0.07%/yr vs 0.10%/yr for INXG.L.
Performance
CU31.L vs. INXG.L - Performance Comparison
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Different Trading Currencies
CU31.L is traded in GBp, while INXG.L is traded in GBP. To make them comparable, the INXG.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, CU31.L achieves a 0.66% return, which is significantly higher than INXG.L's 0.04% return. Over the past 10 years, CU31.L has outperformed INXG.L with an annualized return of 2.48%, while INXG.L has yielded a comparatively lower -1.18% annualized return.
CU31.L
- 1D
- 0.11%
- 1M
- 1.13%
- YTD
- 0.66%
- 6M
- 0.30%
- 1Y
- 4.42%
- 3Y*
- 1.49%
- 5Y*
- 2.92%
- 10Y*
- 2.48%
INXG.L
- 1D
- 0.44%
- 1M
- 1.08%
- YTD
- 0.04%
- 6M
- -0.73%
- 1Y
- 3.31%
- 3Y*
- -0.63%
- 5Y*
- -8.26%
- 10Y*
- -1.18%
CU31.L vs. INXG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CU31.L iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) | 0.66% | -1.98% | 5.81% | -1.58% | 7.82% | 0.48% | -0.40% | 0.29% | 7.25% | -8.69% |
INXG.L iShares £ Index-Linked Gilts UCITS ETF | 0.04% | 1.10% | -8.66% | 0.16% | -34.27% | 4.08% | 11.08% | 6.27% | -0.49% | 2.21% |
Correlation
The correlation between CU31.L and INXG.L is -0.21, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since May 14, 2013 | 0.11 |
The correlation between CU31.L and INXG.L shifts across timeframes, from -0.21 (1 year) to 0.11 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
CU31.L vs. INXG.L — Risk / Return Rank
CU31.L
INXG.L
CU31.L vs. INXG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (CU31.L) and iShares £ Index-Linked Gilts UCITS ETF (INXG.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.
| CU31.L | INXG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.39 | ||
| Sortino ratioReturn per unit of downside risk | +0.56 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.06 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.97 | 0.50 | +0.48 |
| Martin ratioReturn relative to average drawdown | 2.47 | 1.08 | +1.39 |
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
| CU31.L | INXG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.72 | 0.33 | +0.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.36 | -0.41 | +0.77 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | -0.07 | +0.34 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.28 | -0.71 | +0.98 |
Drawdowns
CU31.L vs. INXG.L - Drawdown Comparison
The maximum CU31.L drawdown since its inception was -18.80%, smaller than the maximum INXG.L drawdown of -99.05%. Use the drawdown chart below to compare losses from any high point for CU31.L and INXG.L.
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Drawdown Indicators
| CU31.L | INXG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.80% | -99.05% | +80.25% |
Max Drawdown (1Y)Largest decline over 1 year | -4.51% | -6.62% | +2.11% |
Max Drawdown (3Y)Largest decline over 3 years | -8.91% | -15.04% | +6.13% |
Max Drawdown (5Y)Largest decline over 5 years | -16.29% | -50.87% | +34.58% |
Max Drawdown (10Y)Largest decline over 10 years | -18.80% | -50.87% | +32.07% |
Current DrawdownCurrent decline from peak | -7.61% | -98.31% | +90.70% |
Average DrawdownAverage peak-to-trough decline | -8.23% | -97.27% | +89.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.78% | 3.06% | -1.28% |
Volatility
CU31.L vs. INXG.L - Volatility Comparison
The current volatility for iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (CU31.L) is 1.63%, while iShares £ Index-Linked Gilts UCITS ETF (INXG.L) has a volatility of 3.49%. This indicates that CU31.L experiences smaller price fluctuations and is considered to be less risky than INXG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CU31.L | INXG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.63% | 3.49% | -1.86% |
Volatility (6M)Calculated over the trailing 6-month period | 4.46% | 7.26% | -2.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.11% | 9.89% | -3.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.05% | 20.07% | -12.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.19% | 17.47% | -8.28% |
CU31.L vs. INXG.L - Expense Ratio Comparison
CU31.L has a 0.07% expense ratio, which is lower than INXG.L's 0.10% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CU31.L vs. INXG.L - Dividend Comparison
CU31.L has not paid dividends to shareholders, while INXG.L's dividend yield for the trailing twelve months is around 7.56%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CU31.L iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
INXG.L iShares £ Index-Linked Gilts UCITS ETF | 7.56% | 7.23% | 5.77% | 0.43% | 0.00% | 0.00% | 0.61% | 1.36% | 1.95% | 1.28% | 0.65% | 1.94% |
Frequently Asked Questions
CU31.L and INXG.L have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CU31.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CU31.L is cheaper with a 0.07% expense ratio, compared with 0.10% for INXG.L.
CU31.L tracks ICE US Treasury 1-3 Year Index, while INXG.L tracks Bloomberg UK Government Inflation-Linked Bond Index. Their fees differ too: 0.07% for CU31.L and 0.10% for INXG.L.
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