PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
FRGP.L vs. IB01.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FRGP.L vs. IB01.L

Last updated Jul 16, 2026
Documentation

FRGP.L (iShares France Govt Bond UCITS ETF GBP Hedged (Dist)) and IB01.L (iShares USD Treasury Bond 0-1yr UCITS ETF (Acc)) are both Government Bonds funds from iShares - FRGP.L tracks the iShares France Govt Bond UCITS ETF GBP Hedged (Dist) while IB01.L tracks the ICE U.S. Treasury Short Bond Index. Both are passively managed. Over the past 3 years, FRGP.L returned 2.90%/yr vs 3.84%/yr for IB01.L. At a correlation of -0.16, they often move in opposite directions.

Performance

FRGP.L vs. IB01.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares France Govt Bond UCITS ETF GBP Hedged (Dist) (FRGP.L) and iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.L). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

FRGP.L is traded in GBP, while IB01.L is traded in USD. To make them comparable, the IB01.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, FRGP.L achieves a 0.66% return, which is significantly lower than IB01.L's 2.36% return.

FRGP.L

1D
-0.15%
1M
-0.95%
6M
0.05%
YTD
0.66%
1Y
1.92%
3Y*
2.90%
5Y*
—
10Y*
—

IB01.L

1D
0.00%
1M
0.31%
6M
2.09%
YTD
2.36%
1Y
3.75%
3Y*
3.84%
5Y*
3.84%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

FRGP.L vs. IB01.L - Yearly Performance Comparison

2026 (YTD)2025202420232022
FRGP.L
iShares France Govt Bond UCITS ETF GBP Hedged (Dist)		0.66%2.22%0.16%7.60%-1.64%
IB01.L
iShares USD Treasury Bond 0-1yr UCITS ETF (Acc)		1.42%-3.10%7.09%-0.32%-5.58%

Correlation

The correlation between FRGP.L and IB01.L is -0.27, 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

-0.27

Correlation (3Y)
Calculated over the trailing 3-year period

-0.17

Correlation (All Time)
Calculated using the full available price history since Oct 6, 2022

-0.16

The correlation between FRGP.L and IB01.L shifts across timeframes, from -0.27 (1 year) to -0.16 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares France Govt Bond UCITS ETF GBP Hedged (Dist)

iShares USD Treasury Bond 0-1yr UCITS ETF (Acc)

Often compared with IB01.L:
IB01.L vs. VDST.LIB01.L vs. IBTA.LIB01.L vs. BOXXIB01.L vs. FLOA.LIB01.L vs. ERNA.LIB01.L vs. XEON.DEIB01.L vs. VGSH

Return for Risk

FRGP.L vs. IB01.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FRGP.L
FRGP.L Risk / Return Rank: 1616
Overall Rank
FRGP.L Sharpe Ratio Rank: 1616
Sharpe Ratio Rank
FRGP.L Sortino Ratio Rank: 1414
Sortino Ratio Rank
FRGP.L Omega Ratio Rank: 1414
Omega Ratio Rank
FRGP.L Calmar Ratio Rank: 1616
Calmar Ratio Rank
FRGP.L Martin Ratio Rank: 1717
Martin Ratio Rank
IB01.L
IB01.L Risk / Return Rank: 100100
Overall Rank
IB01.L Sharpe Ratio Rank: 100100
Sharpe Ratio Rank
IB01.L Sortino Ratio Rank: 100100
Sortino Ratio Rank
IB01.L Omega Ratio Rank: 9999
Omega Ratio Rank
IB01.L Calmar Ratio Rank: 100100
Calmar Ratio Rank
IB01.L Martin Ratio Rank: 100100
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FRGP.L vs. IB01.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares France Govt Bond UCITS ETF GBP Hedged (Dist) (FRGP.L) and iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.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.

FRGP.LIB01.LDifference
Sharpe ratioReturn per unit of total volatility
0.37
0.58

-0.20

Sortino ratioReturn per unit of downside risk
0.57
0.87

-0.30

Omega ratioGain probability vs. loss probability

1.07

1.10

-0.03

Calmar ratioReturn relative to maximum drawdown

0.51

0.72

-0.21

Martin ratioReturn relative to average drawdown

1.31

1.98

-0.67

FRGP.L vs. IB01.L - Sharpe Ratio Comparison

The current FRGP.L Sharpe Ratio is 0.37, which is lower than the IB01.L Sharpe Ratio of 0.58. The chart below compares the historical Sharpe Ratios of FRGP.L and IB01.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

FRGP.L vs. IB01.L - Drawdown Comparison

The maximum FRGP.L drawdown since its inception was -6.67%, smaller than the maximum IB01.L drawdown of -19.26%. Use the drawdown chart below to compare losses from any high point for FRGP.L and IB01.L.

Loading charts...

Drawdown Indicators

FRGP.LIB01.LDifference

Max Drawdown

Largest peak-to-trough decline

-6.67%

-19.26%

+12.59%

Max Drawdown (1Y)

Largest decline over 1 year

-3.35%

-5.16%

+1.81%

Max Drawdown (3Y)

Largest decline over 3 years

-4.24%

-9.81%

+5.57%

Max Drawdown (5Y)

Largest decline over 5 years

—

-15.94%

—

Current Drawdown

Current decline from peak

-2.12%

-5.58%

+3.46%

Average Drawdown

Average peak-to-trough decline

-2.09%

-9.40%

+7.31%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.31%

1.89%

-0.58%

Volatility

FRGP.L vs. IB01.L - Volatility Comparison

The current volatility for iShares France Govt Bond UCITS ETF GBP Hedged (Dist) (FRGP.L) is 1.32%, while iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.L) has a volatility of 1.74%. This indicates that FRGP.L experiences smaller price fluctuations and is considered to be less risky than IB01.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

FRGP.LIB01.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.32%

1.74%

-0.42%

Volatility (6M)

Calculated over the trailing 6-month period

3.74%

4.96%

-1.22%

Volatility (1Y)

Calculated over the trailing 1-year period

4.59%

6.50%

-1.91%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.26%

8.45%

-2.19%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.26%

8.76%

-2.50%

Dividends

FRGP.L vs. IB01.L - Dividend Comparison

FRGP.L's dividend yield for the trailing twelve months is around 2.91%, while IB01.L has not paid dividends to shareholders.

PositionTTM202520242023
FRGP.L
iShares France Govt Bond UCITS ETF GBP Hedged (Dist)		2.91%2.83%2.36%1.82%
IB01.L
iShares USD Treasury Bond 0-1yr UCITS ETF (Acc)		0.00%0.00%0.00%0.00%

Frequently Asked Questions

FRGP.L and IB01.L have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FRGP.L tracks iShares France Govt Bond UCITS ETF GBP Hedged (Dist), while IB01.L tracks ICE U.S. Treasury Short Bond Index.

Portfolio Optimizer

Find the right allocation for FRGP.L and IB01.L

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer