GBPUSD=X vs. IEF
GBPUSD=X (GBP/USD) is a currency, while IEF (iShares 7-10 Year Treasury Bond ETF) is Government Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index. Over the past 10 years, GBPUSD=X returned -0.52%/yr vs 0.59%/yr for IEF. At a 0.02 correlation, their price movements are largely independent.
Performance
GBPUSD=X vs. IEF - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with GBPUSD=X having a -0.45% return and IEF slightly lower at -0.47%. Over the past 10 years, GBPUSD=X has underperformed IEF with an annualized return of -0.52%, while IEF has yielded a comparatively higher 0.59% annualized return.
GBPUSD=X
- 1D
- -0.16%
- 1M
- -0.95%
- YTD
- -0.45%
- 6M
- 0.22%
- 1Y
- -1.60%
- 3Y*
- 2.03%
- 5Y*
- -1.04%
- 10Y*
- -0.52%
IEF
- 1D
- -0.17%
- 1M
- 0.19%
- YTD
- -0.47%
- 6M
- -0.18%
- 1Y
- 3.39%
- 3Y*
- 2.86%
- 5Y*
- -1.24%
- 10Y*
- 0.59%
GBPUSD=X vs. IEF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GBPUSD=X GBP/USD | -0.45% | 7.55% | -1.67% | 5.28% | -10.69% | -0.91% | 3.06% | 4.01% | -5.66% | 9.52% |
IEF iShares 7-10 Year Treasury Bond ETF | -0.47% | 8.03% | -0.63% | 3.64% | -15.15% | -3.33% | 10.01% | 8.03% | 0.99% | 2.55% |
Correlation
The correlation between GBPUSD=X and IEF is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2007 | 0.02 |
Over the past year, GBPUSD=X and IEF have become more correlated (0.33) than their long-term average of 0.02, meaning their price movements have been converging.
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Return for Risk
GBPUSD=X vs. IEF — Risk / Return Rank
GBPUSD=X
IEF
GBPUSD=X vs. IEF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GBP/USD (GBPUSD=X) and iShares 7-10 Year Treasury Bond ETF (IEF). 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.
| GBPUSD=X | IEF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.93 | ||
| Sortino ratioReturn per unit of downside risk | -1.36 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.12 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.25 | 0.84 | -1.08 |
| Martin ratioReturn relative to average drawdown | -0.47 | 2.35 | -2.82 |
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Drawdowns
GBPUSD=X vs. IEF - Drawdown Comparison
The maximum GBPUSD=X drawdown since its inception was -49.29%, which is greater than IEF's maximum drawdown of -23.93%. Use the drawdown chart below to compare losses from any high point for GBPUSD=X and IEF.
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Drawdown Indicators
| GBPUSD=X | IEF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.29% | -23.93% | -25.36% |
Max Drawdown (1Y)Largest decline over 1 year | -5.26% | -4.07% | -1.19% |
Max Drawdown (3Y)Largest decline over 3 years | -9.34% | -7.74% | -1.60% |
Max Drawdown (5Y)Largest decline over 5 years | -24.23% | -21.40% | -2.83% |
Max Drawdown (10Y)Largest decline over 10 years | -27.99% | -23.93% | -4.06% |
Current DrawdownCurrent decline from peak | -36.44% | -11.18% | -25.26% |
Average DrawdownAverage peak-to-trough decline | -31.18% | -5.35% | -25.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.56% | 1.45% | +1.11% |
Volatility
GBPUSD=X vs. IEF - Volatility Comparison
The current volatility for GBP/USD (GBPUSD=X) is 1.22%, while iShares 7-10 Year Treasury Bond ETF (IEF) has a volatility of 1.62%. This indicates that GBPUSD=X experiences smaller price fluctuations and is considered to be less risky than IEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBPUSD=X | IEF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 1.62% | -0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 4.96% | 3.42% | +1.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.25% | 4.72% | +1.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.24% | 7.71% | +0.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.09% | 6.63% | +2.46% |
Frequently Asked Questions
GBPUSD=X and IEF have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IEF has higher volatility (1.62%) compared to GBPUSD=X (1.22%). In terms of maximum drawdown, GBPUSD=X dropped -49.29% vs IEF's -23.93%.
IEF currently has the higher Sharpe Ratio (0.72 vs -0.21), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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