GLAD.L vs. IGLA.L
GLAD.L (SPDR Bloomberg Global Aggregate Bond UCITS ETF USD Hedged (Acc)) and IGLA.L (iShares Global Govt Bond UCITS Acc) are both Global Bonds funds - GLAD.L tracks the Bloomberg Global Aggregate TR Hdg USD while IGLA.L tracks the Bloomberg Global Aggregate TR USD. Both are passively managed. Over the past 5 years, GLAD.L returned 0.62%/yr vs -3.39%/yr for IGLA.L. A 0.77 correlation means they provide meaningful diversification when combined. GLAD.L charges 0.10%/yr vs 0.20%/yr for IGLA.L.
Performance
GLAD.L vs. IGLA.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GLAD.L achieves a 0.39% return, which is significantly higher than IGLA.L's -1.51% return.
GLAD.L
- 1D
- -0.40%
- 1M
- 0.15%
- YTD
- 0.39%
- 6M
- 0.51%
- 1Y
- 3.45%
- 3Y*
- 4.04%
- 5Y*
- 0.62%
- 10Y*
- —
IGLA.L
- 1D
- -0.51%
- 1M
- -0.71%
- YTD
- -1.51%
- 6M
- -1.30%
- 1Y
- 0.25%
- 3Y*
- 1.30%
- 5Y*
- -3.39%
- 10Y*
- —
GLAD.L vs. IGLA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GLAD.L SPDR Bloomberg Global Aggregate Bond UCITS ETF USD Hedged (Acc) | 0.39% | 4.72% | 3.23% | 6.73% | -11.24% | -1.59% | 5.21% | -0.04% |
IGLA.L iShares Global Govt Bond UCITS Acc | -1.51% | 6.09% | -2.98% | 3.99% | -17.80% | -6.85% | 9.45% | -0.33% |
Correlation
The correlation between GLAD.L and IGLA.L is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Oct 14, 2019 | 0.77 |
The correlation between GLAD.L and IGLA.L has been stable across timeframes, ranging from 0.73 to 0.82 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GLAD.L vs. IGLA.L — Risk / Return Rank
GLAD.L
IGLA.L
GLAD.L vs. IGLA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Global Aggregate Bond UCITS ETF USD Hedged (Acc) (GLAD.L) and iShares Global Govt Bond UCITS Acc (IGLA.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.
| GLAD.L | IGLA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.03 | ||
| Sortino ratioReturn per unit of downside risk | +1.46 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.01 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 0.06 | +1.44 |
| Martin ratioReturn relative to average drawdown | 4.57 | 0.15 | +4.42 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| GLAD.L | IGLA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.08 | 0.05 | +1.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.14 | -0.47 | +0.61 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | -0.10 | +0.32 |
Drawdowns
GLAD.L vs. IGLA.L - Drawdown Comparison
The maximum GLAD.L drawdown since its inception was -15.20%, smaller than the maximum IGLA.L drawdown of -28.01%. Use the drawdown chart below to compare losses from any high point for GLAD.L and IGLA.L.
Loading charts...
Drawdown Indicators
| GLAD.L | IGLA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.20% | -28.01% | +12.81% |
Max Drawdown (1Y)Largest decline over 1 year | -2.30% | -4.27% | +1.97% |
Max Drawdown (3Y)Largest decline over 3 years | -3.78% | -7.95% | +4.17% |
Max Drawdown (5Y)Largest decline over 5 years | -15.05% | -25.86% | +10.81% |
Current DrawdownCurrent decline from peak | -1.16% | -19.33% | +18.17% |
Average DrawdownAverage peak-to-trough decline | -4.55% | -11.90% | +7.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.75% | 1.68% | -0.93% |
Volatility
GLAD.L vs. IGLA.L - Volatility Comparison
The current volatility for SPDR Bloomberg Global Aggregate Bond UCITS ETF USD Hedged (Acc) (GLAD.L) is 1.38%, while iShares Global Govt Bond UCITS Acc (IGLA.L) has a volatility of 2.10%. This indicates that GLAD.L experiences smaller price fluctuations and is considered to be less risky than IGLA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GLAD.L | IGLA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.38% | 2.10% | -0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 2.65% | 4.19% | -1.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.19% | 5.54% | -2.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.48% | 7.22% | -2.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.27% | 6.74% | -2.47% |
GLAD.L vs. IGLA.L - Expense Ratio Comparison
GLAD.L has a 0.10% expense ratio, which is lower than IGLA.L's 0.20% 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
GLAD.L vs. IGLA.L - Dividend Comparison
Neither GLAD.L nor IGLA.L has paid dividends to shareholders.
Frequently Asked Questions
GLAD.L and IGLA.L have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLAD.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLAD.L is cheaper with a 0.10% expense ratio, compared with 0.20% for IGLA.L.
GLAD.L tracks Bloomberg Global Aggregate TR Hdg USD, while IGLA.L tracks Bloomberg Global Aggregate TR USD. They also come from different issuers: State Street and iShares. Their fees differ too: 0.10% for GLAD.L and 0.20% for IGLA.L.
Find the right allocation for GLAD.L and IGLA.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer