GIL5.L vs. ITEB.L
GIL5.L (Lyxor UK Government Bond 0-5Y (DR) UCITS ETF - Dist) and ITEB.L (iShares Italy Govt Bond UCITS ETF GBP Hedged (Dist)) are both European Government Bonds funds - GIL5.L tracks the FTSE Act UK Cnvt Gilts All Stocks TR GBP while ITEB.L tracks the Bloomberg Italy Treasury Bond Index. Both are passively managed. Over the past 3 years, GIL5.L returned 4.44%/yr vs 5.84%/yr for ITEB.L. A 0.57 correlation means they provide meaningful diversification when combined. GIL5.L charges 0.05%/yr vs 0.22%/yr for ITEB.L.
Performance
GIL5.L vs. ITEB.L - Performance Comparison
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Returns By Period
In the year-to-date period, GIL5.L achieves a 0.80% return, which is significantly higher than ITEB.L's 0.50% return.
GIL5.L
- 1D
- 0.00%
- 1M
- -0.11%
- 6M
- 0.57%
- YTD
- 0.80%
- 1Y
- 2.70%
- 3Y*
- 4.44%
- 5Y*
- 1.35%
- 10Y*
- —
ITEB.L
- 1D
- -0.18%
- 1M
- -0.92%
- 6M
- -0.22%
- YTD
- 0.50%
- 1Y
- 2.68%
- 3Y*
- 5.84%
- 5Y*
- —
- 10Y*
- —
GIL5.L vs. ITEB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GIL5.L Lyxor UK Government Bond 0-5Y (DR) UCITS ETF - Dist | 0.80% | 5.18% | 2.48% | 4.02% | 2.09% |
ITEB.L iShares Italy Govt Bond UCITS ETF GBP Hedged (Dist) | 0.50% | 5.10% | 6.13% | 10.70% | 0.86% |
Correlation
The correlation between GIL5.L and ITEB.L is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2022 | 0.57 |
The correlation between GIL5.L and ITEB.L has been stable across timeframes, ranging from 0.57 to 0.63 - a consistent structural relationship.
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Return for Risk
GIL5.L vs. ITEB.L — Risk / Return Rank
GIL5.L
ITEB.L
GIL5.L vs. ITEB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lyxor UK Government Bond 0-5Y (DR) UCITS ETF - Dist (GIL5.L) and iShares Italy Govt Bond UCITS ETF GBP Hedged (Dist) (ITEB.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.
| GIL5.L | ITEB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.70 | ||
| Sortino ratioReturn per unit of downside risk | +0.97 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.12 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.40 | 0.71 | +0.69 |
| Martin ratioReturn relative to average drawdown | 4.57 | 2.22 | +2.35 |
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Drawdowns
GIL5.L vs. ITEB.L - Drawdown Comparison
The maximum GIL5.L drawdown since its inception was -9.43%, which is greater than ITEB.L's maximum drawdown of -5.97%. Use the drawdown chart below to compare losses from any high point for GIL5.L and ITEB.L.
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Drawdown Indicators
| GIL5.L | ITEB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.43% | -5.97% | -3.46% |
Max Drawdown (1Y)Largest decline over 1 year | -1.92% | -4.03% | +2.11% |
Max Drawdown (3Y)Largest decline over 3 years | -1.92% | -4.03% | +2.11% |
Max Drawdown (5Y)Largest decline over 5 years | -8.73% | — | — |
Current DrawdownCurrent decline from peak | -0.34% | -1.61% | +1.27% |
Average DrawdownAverage peak-to-trough decline | -1.50% | -1.24% | -0.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.59% | 1.29% | -0.70% |
Volatility
GIL5.L vs. ITEB.L - Volatility Comparison
The current volatility for Lyxor UK Government Bond 0-5Y (DR) UCITS ETF - Dist (GIL5.L) is 0.54%, while iShares Italy Govt Bond UCITS ETF GBP Hedged (Dist) (ITEB.L) has a volatility of 1.12%. This indicates that GIL5.L experiences smaller price fluctuations and is considered to be less risky than ITEB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GIL5.L | ITEB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.54% | 1.12% | -0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 1.75% | 4.19% | -2.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.08% | 4.81% | -2.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.63% | 6.19% | -3.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.55% | 6.19% | -0.64% |
GIL5.L vs. ITEB.L - Expense Ratio Comparison
GIL5.L has a 0.05% expense ratio, which is lower than ITEB.L's 0.22% 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
GIL5.L vs. ITEB.L - Dividend Comparison
GIL5.L's dividend yield for the trailing twelve months is around 2.33%, less than ITEB.L's 2.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
GIL5.L Lyxor UK Government Bond 0-5Y (DR) UCITS ETF - Dist | 2.33% | 2.34% | 1.94% | 1.36% | 1.39% | 1.60% | 2.26% | 9.10% | 14.61% | 15.85% | 7.81% |
ITEB.L iShares Italy Govt Bond UCITS ETF GBP Hedged (Dist) | 2.87% | 2.81% | 2.58% | 2.25% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GIL5.L and ITEB.L have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GIL5.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GIL5.L is cheaper with a 0.05% expense ratio, compared with 0.22% for ITEB.L.
GIL5.L tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP, while ITEB.L tracks Bloomberg Italy Treasury Bond Index. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.05% for GIL5.L and 0.22% for ITEB.L.
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