GILS.L vs. IBGM.L
GILS.L (Lyxor Core UK Government Bond (DR) UCITS ETF - Dist) and IBGM.L (iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist)) are both European Government Bonds funds - GILS.L tracks the FTSE Actuaries UK Conventional Gilts All Stocks while IBGM.L tracks the Bloomberg Euro Agg Govt TR EUR. Both are passively managed. Over the past 10 years, GILS.L returned -3.32%/yr vs 31.19%/yr for IBGM.L. At a 0.43 correlation, their price movements are largely independent. GILS.L charges 0.05%/yr vs 0.15%/yr for IBGM.L.
Performance
GILS.L vs. IBGM.L - Performance Comparison
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Different Trading Currencies
GILS.L is traded in GBp, while IBGM.L is traded in GBP. To make them comparable, the IBGM.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 IBGM.L's -2.55% return. Over the past 10 years, GILS.L has underperformed IBGM.L with an annualized return of -3.32%, while IBGM.L has yielded a comparatively higher 31.19% 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%
IBGM.L
- 1D
- -0.45%
- 1M
- -1.02%
- YTD
- -2.55%
- 6M
- -2.91%
- 1Y
- -0.23%
- 3Y*
- 1.60%
- 5Y*
- 39.44%
- 10Y*
- 31.19%
GILS.L vs. IBGM.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% |
IBGM.L iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) | -2.55% | 5.38% | -3.53% | 465.78% | -3.14% | -9.55% | 20.87% | 117.65% | 2.05% | 4.56% |
Correlation
The correlation between GILS.L and IBGM.L is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2010 | 0.43 |
The correlation between GILS.L and IBGM.L shifts across timeframes, from 0.43 (all time) to 0.65 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
GILS.L vs. IBGM.L — Risk / Return Rank
GILS.L
IBGM.L
GILS.L vs. IBGM.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 iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBGM.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 | IBGM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.00 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.15 | -0.04 | -0.12 |
| Martin ratioReturn relative to average drawdown | -0.35 | -0.08 | -0.27 |
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 | IBGM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.14 | -0.04 | -0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.65 | 0.20 | -0.85 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.37 | 0.22 | -0.59 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.01 | 0.21 | -0.20 |
Drawdowns
GILS.L vs. IBGM.L - Drawdown Comparison
The maximum GILS.L drawdown since its inception was -38.75%, which is greater than IBGM.L's maximum drawdown of -26.66%. Use the drawdown chart below to compare losses from any high point for GILS.L and IBGM.L.
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Drawdown Indicators
| GILS.L | IBGM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.75% | -26.66% | -12.09% |
Max Drawdown (1Y)Largest decline over 1 year | -6.23% | -6.20% | -0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -9.33% | -6.85% | -2.48% |
Max Drawdown (5Y)Largest decline over 5 years | -34.64% | -21.27% | -13.37% |
Max Drawdown (10Y)Largest decline over 10 years | -38.75% | -26.66% | -12.09% |
Current DrawdownCurrent decline from peak | -36.00% | -5.70% | -30.30% |
Average DrawdownAverage peak-to-trough decline | -12.01% | -4.98% | -7.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.77% | 2.82% | -0.05% |
Volatility
GILS.L vs. IBGM.L - Volatility Comparison
Lyxor Core UK Government Bond (DR) UCITS ETF - Dist (GILS.L) and iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBGM.L) have volatilities of 2.51% and 2.59%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GILS.L | IBGM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.51% | 2.59% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 5.64% | 4.93% | +0.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.67% | 6.31% | +0.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.11% | 193.47% | -183.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.06% | 138.66% | -129.60% |
GILS.L vs. IBGM.L - Expense Ratio Comparison
GILS.L has a 0.05% expense ratio, which is lower than IBGM.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. IBGM.L - Dividend Comparison
Neither GILS.L nor IBGM.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% |
IBGM.L iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) | 0.00% | 1.33% | 2.78% | 79.03% | 13.18% | 0.00% | 8.74% | 63.75% | 0.74% | 0.74% | 0.77% | 1.07% |
Frequently Asked Questions
GILS.L and IBGM.L have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 IBGM.L.
GILS.L tracks FTSE Actuaries UK Conventional Gilts All Stocks, while IBGM.L tracks Bloomberg Euro Agg Govt TR EUR. They also come from different issuers: Lyxor and iShares. Their fees differ too: 0.05% for GILS.L and 0.15% for IBGM.L.
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