GILS.L vs. GLTY.L
GILS.L (Lyxor Core UK Government Bond (DR) UCITS ETF - Dist) and GLTY.L (SPDR Bloomberg UK Gilt UCITS ETF) are both European Government Bonds funds - GILS.L tracks the FTSE Actuaries UK Conventional Gilts All Stocks while GLTY.L tracks the FTSE Act UK Cnvt Gilts All Stocks TR GBP. Both are passively managed. Over the past 10 years, GILS.L returned -3.32%/yr vs 283.79%/yr for GLTY.L. Their correlation of 0.83 suggests significant overlap in exposure. GILS.L charges 0.05%/yr vs 0.15%/yr for GLTY.L.
Performance
GILS.L vs. GLTY.L - Performance Comparison
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Different Trading Currencies
GILS.L is traded in GBp, while GLTY.L is traded in GBP. To make them comparable, the GLTY.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, GILS.L achieves a -1.35% return, which is significantly higher than GLTY.L's -3.21% return. Over the past 10 years, GILS.L has underperformed GLTY.L with an annualized return of -3.32%, while GLTY.L has yielded a comparatively higher 283.79% annualized return.
GILS.L
- 1D
- -0.60%
- 1M
- 0.61%
- YTD
- -1.35%
- 6M
- -4.24%
- 1Y
- -0.97%
- 3Y*
- -0.50%
- 5Y*
- -6.57%
- 10Y*
- -3.32%
GLTY.L
- 1D
- -0.55%
- 1M
- 0.71%
- YTD
- -3.21%
- 6M
- -3.32%
- 1Y
- -1.70%
- 3Y*
- 0.59%
- 5Y*
- 73.54%
- 10Y*
- 283.79%
GILS.L vs. GLTY.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GILS.L Lyxor Core UK Government Bond (DR) UCITS ETF - Dist | -1.35% | 1.70% | -5.79% | 1.51% | -25.53% | -6.84% | 5.96% | 4.09% | -2.08% | -1.13% |
GLTY.L SPDR Bloomberg UK Gilt UCITS ETF | -3.21% | 3.10% | -4.48% | 279.86% | 158.03% | 169.82% | 413.90% | 596.36% | 632.13% | 2,267.04% |
Correlation
The correlation between GILS.L and GLTY.L is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jun 11, 2012 | 0.83 |
The correlation between GILS.L and GLTY.L shifts across timeframes, from 0.83 (all time) to 0.97 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
GILS.L vs. GLTY.L — Risk / Return Rank
GILS.L
GLTY.L
GILS.L vs. GLTY.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lyxor Core UK Government Bond (DR) UCITS ETF - Dist (GILS.L) and SPDR Bloomberg UK Gilt UCITS ETF (GLTY.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.
| GILS.L | GLTY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 0.96 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.15 | -0.27 | +0.11 |
| Martin ratioReturn relative to average drawdown | -0.35 | -0.61 | +0.26 |
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
| GILS.L | GLTY.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.14 | -0.24 | +0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.65 | 0.54 | -1.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.37 | 1.12 | -1.49 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.01 | 0.82 | -0.81 |
Drawdowns
GILS.L vs. GLTY.L - Drawdown Comparison
The maximum GILS.L drawdown since its inception was -38.75%, which is greater than GLTY.L's maximum drawdown of -23.61%. Use the drawdown chart below to compare losses from any high point for GILS.L and GLTY.L.
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Drawdown Indicators
| GILS.L | GLTY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.75% | -23.61% | -15.14% |
Max Drawdown (1Y)Largest decline over 1 year | -6.23% | -6.40% | +0.17% |
Max Drawdown (3Y)Largest decline over 3 years | -9.33% | -7.96% | -1.37% |
Max Drawdown (5Y)Largest decline over 5 years | -34.64% | -23.61% | -11.03% |
Max Drawdown (10Y)Largest decline over 10 years | -38.75% | -23.61% | -15.14% |
Current DrawdownCurrent decline from peak | -36.00% | -6.57% | -29.43% |
Average DrawdownAverage peak-to-trough decline | -12.01% | -3.92% | -8.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.77% | 2.79% | -0.02% |
Volatility
GILS.L vs. GLTY.L - Volatility Comparison
The current volatility for Lyxor Core UK Government Bond (DR) UCITS ETF - Dist (GILS.L) is 2.51%, while SPDR Bloomberg UK Gilt UCITS ETF (GLTY.L) has a volatility of 2.87%. This indicates that GILS.L experiences smaller price fluctuations and is considered to be less risky than GLTY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GILS.L | GLTY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.51% | 2.87% | -0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 5.64% | 5.51% | +0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.67% | 6.94% | -0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.11% | 135.35% | -125.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.06% | 251.64% | -242.58% |
GILS.L vs. GLTY.L - Expense Ratio Comparison
GILS.L has a 0.05% expense ratio, which is lower than GLTY.L's 0.15% 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
GILS.L vs. GLTY.L - Dividend Comparison
Neither GILS.L nor GLTY.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GILS.L Lyxor Core UK Government Bond (DR) UCITS ETF - Dist | 0.00% | 0.00% | 0.00% | 0.00% | 0.02% | 0.02% | 0.02% | 0.03% | 0.03% | 0.03% | 0.03% | 0.00% |
GLTY.L SPDR Bloomberg UK Gilt UCITS ETF | 0.00% | 1.74% | 2.72% | 74.77% | 114.99% | 84.01% | 106.35% | 119.69% | 125.98% | 157.59% | 81.07% | 1.87% |
Frequently Asked Questions
With a correlation of 0.94, GILS.L and GLTY.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, GILS.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GILS.L is cheaper with a 0.05% expense ratio, compared with 0.15% for GLTY.L.
GILS.L tracks FTSE Actuaries UK Conventional Gilts All Stocks, while GLTY.L tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP. They also come from different issuers: Lyxor and State Street. Their fees differ too: 0.05% for GILS.L and 0.15% for GLTY.L.
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