FTWG.L vs. IBTU.L
FTWG.L (Invesco FTSE All-World UCITS ETF USD Dist) and IBTU.L (iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist)) are both exchange-traded funds - FTWG.L is a Global Equities fund tracking the FTSE All-World Index, while IBTU.L is a Government Bonds fund tracking the ICE U.S. Treasury Short Bond Index. Both are passively managed. Over the past year, FTWG.L returned 29.13% vs 7.31% for IBTU.L. At a 0.13 correlation, their price movements are largely independent. FTWG.L charges 0.15%/yr vs 0.07%/yr for IBTU.L.
Performance
FTWG.L vs. IBTU.L - Performance Comparison
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Different Trading Currencies
FTWG.L is traded in GBp, while IBTU.L is traded in USD. To make them comparable, the IBTU.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, FTWG.L achieves a 12.01% return, which is significantly higher than IBTU.L's 3.84% return.
FTWG.L
- 1D
- 0.62%
- 1M
- 1.84%
- YTD
- 12.01%
- 6M
- 12.72%
- 1Y
- 29.13%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBTU.L
- 1D
- 0.18%
- 1M
- 2.34%
- YTD
- 3.84%
- 6M
- 4.30%
- 1Y
- 7.31%
- 3Y*
- 3.46%
- 5Y*
- 4.50%
- 10Y*
- —
FTWG.L vs. IBTU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FTWG.L Invesco FTSE All-World UCITS ETF USD Dist | 12.01% | 14.12% | 19.92% | -13.67% |
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 3.84% | -3.10% | 7.15% | 2.72% |
Correlation
The correlation between FTWG.L and IBTU.L is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2023 | 0.13 |
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Return for Risk
FTWG.L vs. IBTU.L — Risk / Return Rank
FTWG.L
IBTU.L
FTWG.L vs. IBTU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE All-World UCITS ETF USD Dist (FTWG.L) and iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.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.
| FTWG.L | IBTU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.62 | ||
| Sortino ratioReturn per unit of downside risk | +2.13 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.19 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 4.08 | 1.45 | +2.63 |
| Martin ratioReturn relative to average drawdown | 16.22 | 3.95 | +12.28 |
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Drawdowns
FTWG.L vs. IBTU.L - Drawdown Comparison
The maximum FTWG.L drawdown since its inception was -22.14%, which is greater than IBTU.L's maximum drawdown of -19.03%. Use the drawdown chart below to compare losses from any high point for FTWG.L and IBTU.L.
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Drawdown Indicators
| FTWG.L | IBTU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.14% | -19.03% | -3.11% |
Max Drawdown (1Y)Largest decline over 1 year | -7.11% | -5.03% | -2.08% |
Max Drawdown (3Y)Largest decline over 3 years | -22.14% | -9.76% | -12.38% |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.83% | — |
Current DrawdownCurrent decline from peak | -0.93% | -4.14% | +3.21% |
Average DrawdownAverage peak-to-trough decline | -6.63% | -9.22% | +2.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.79% | 1.85% | -0.06% |
Volatility
FTWG.L vs. IBTU.L - Volatility Comparison
Invesco FTSE All-World UCITS ETF USD Dist (FTWG.L) has a higher volatility of 3.65% compared to iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.L) at 1.66%. This indicates that FTWG.L's price experiences larger fluctuations and is considered to be riskier than IBTU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FTWG.L | IBTU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.65% | 1.66% | +1.99% |
Volatility (6M)Calculated over the trailing 6-month period | 8.13% | 5.09% | +3.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.70% | 6.69% | +4.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.72% | 8.46% | +8.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.72% | 8.74% | +7.98% |
FTWG.L vs. IBTU.L - Expense Ratio Comparison
FTWG.L has a 0.15% expense ratio, which is higher than IBTU.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
FTWG.L vs. IBTU.L - Dividend Comparison
FTWG.L's dividend yield for the trailing twelve months is around 1.25%, less than IBTU.L's 4.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
FTWG.L Invesco FTSE All-World UCITS ETF USD Dist | 1.25% | 1.34% | 1.50% | 0.70% | 0.00% | 0.00% | 0.00% | 0.00% |
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 4.06% | 4.43% | 6.82% | 3.99% | 0.44% | 0.10% | 1.28% | 1.21% |
Frequently Asked Questions
FTWG.L and IBTU.L have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTU.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTU.L is cheaper with a 0.07% expense ratio, compared with 0.15% for FTWG.L.
FTWG.L is categorized as Global Equities, while IBTU.L is Government Bonds. FTWG.L tracks FTSE All-World Index, while IBTU.L tracks ICE U.S. Treasury Short Bond Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.15% for FTWG.L and 0.07% for IBTU.L.
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