GLAG.MI vs. IWFQ.L
GLAG.MI (SPDR Bloomberg Global Aggregate Bond UCITS ETF (Dist)) and IWFQ.L (iShares MSCI World Quality Factor UCITS) are both exchange-traded funds - GLAG.MI is a Global Bonds fund tracking the Bloomberg Global Aggregate Bond Index, while IWFQ.L is a Global Equities fund tracking the MSCI ACWI NR USD. Both are passively managed. Over the past 5 years, GLAG.MI returned -1.07%/yr vs 11.16%/yr for IWFQ.L. At a 0.10 correlation, their price movements are largely independent. GLAG.MI charges 0.10%/yr vs 0.30%/yr for IWFQ.L.
Performance
GLAG.MI vs. IWFQ.L - Performance Comparison
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Different Trading Currencies
GLAG.MI is traded in EUR, while IWFQ.L is traded in GBp. To make them comparable, the IWFQ.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, GLAG.MI achieves a 0.94% return, which is significantly lower than IWFQ.L's 8.64% return.
GLAG.MI
- 1D
- 0.02%
- 1M
- 0.79%
- YTD
- 0.94%
- 6M
- 0.42%
- 1Y
- 0.22%
- 3Y*
- 0.34%
- 5Y*
- -1.07%
- 10Y*
- —
IWFQ.L
- 1D
- 0.00%
- 1M
- 3.45%
- YTD
- 8.64%
- 6M
- 9.25%
- 1Y
- 17.85%
- 3Y*
- 14.69%
- 5Y*
- 11.16%
- 10Y*
- 11.96%
GLAG.MI vs. IWFQ.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GLAG.MI SPDR Bloomberg Global Aggregate Bond UCITS ETF (Dist) | 0.94% | -4.81% | 4.42% | 1.76% | -11.19% | 2.81% | -0.84% | 8.95% | 5.77% |
IWFQ.L iShares MSCI World Quality Factor UCITS | 9.67% | 1.80% | 24.66% | 21.68% | -14.21% | 33.31% | 4.90% | 33.87% | -1.21% |
Correlation
The correlation between GLAG.MI and IWFQ.L is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Feb 21, 2018 | 0.10 |
The correlation between GLAG.MI and IWFQ.L shifts across timeframes, from 0.10 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GLAG.MI vs. IWFQ.L — Risk / Return Rank
GLAG.MI
IWFQ.L
GLAG.MI vs. IWFQ.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Global Aggregate Bond UCITS ETF (Dist) (GLAG.MI) and iShares MSCI World Quality Factor UCITS (IWFQ.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.
| GLAG.MI | IWFQ.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.65 | ||
| Sortino ratioReturn per unit of downside risk | -2.36 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.32 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.10 | 2.73 | -2.63 |
| Martin ratioReturn relative to average drawdown | 0.20 | 10.99 | -10.80 |
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
| GLAG.MI | IWFQ.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.06 | 1.71 | -1.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.18 | 0.79 | -0.97 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.80 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.14 | 0.76 | -0.62 |
Drawdowns
GLAG.MI vs. IWFQ.L - Drawdown Comparison
The maximum GLAG.MI drawdown since its inception was -16.12%, smaller than the maximum IWFQ.L drawdown of -31.50%. Use the drawdown chart below to compare losses from any high point for GLAG.MI and IWFQ.L.
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Drawdown Indicators
| GLAG.MI | IWFQ.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.12% | -31.50% | +15.38% |
Max Drawdown (1Y)Largest decline over 1 year | -2.30% | -6.51% | +4.21% |
Max Drawdown (3Y)Largest decline over 3 years | -7.59% | -20.22% | +12.63% |
Max Drawdown (5Y)Largest decline over 5 years | -15.05% | -20.22% | +5.17% |
Max Drawdown (10Y)Largest decline over 10 years | — | -31.50% | — |
Current DrawdownCurrent decline from peak | -11.60% | -0.71% | -10.89% |
Average DrawdownAverage peak-to-trough decline | -7.11% | -4.65% | -2.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.19% | 1.62% | -0.43% |
Volatility
GLAG.MI vs. IWFQ.L - Volatility Comparison
The current volatility for SPDR Bloomberg Global Aggregate Bond UCITS ETF (Dist) (GLAG.MI) is 0.98%, while iShares MSCI World Quality Factor UCITS (IWFQ.L) has a volatility of 2.23%. This indicates that GLAG.MI experiences smaller price fluctuations and is considered to be less risky than IWFQ.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLAG.MI | IWFQ.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 2.23% | -1.25% |
Volatility (6M)Calculated over the trailing 6-month period | 2.63% | 7.32% | -4.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.73% | 10.38% | -6.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.88% | 14.12% | -8.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.61% | 14.98% | -9.37% |
GLAG.MI vs. IWFQ.L - Expense Ratio Comparison
GLAG.MI has a 0.10% expense ratio, which is lower than IWFQ.L's 0.30% expense ratio.
Dividends
GLAG.MI vs. IWFQ.L - Dividend Comparison
GLAG.MI's dividend yield for the trailing twelve months is around 2.68%, while IWFQ.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
GLAG.MI SPDR Bloomberg Global Aggregate Bond UCITS ETF (Dist) | 2.68% | 2.96% | 2.46% | 1.86% | 1.39% | 0.98% | 1.40% | 1.50% | 0.81% |
IWFQ.L iShares MSCI World Quality Factor UCITS | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GLAG.MI and IWFQ.L have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLAG.MI is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLAG.MI is cheaper with a 0.10% expense ratio, compared with 0.30% for IWFQ.L.
GLAG.MI is categorized as Global Bonds, while IWFQ.L is Global Equities. GLAG.MI tracks Bloomberg Global Aggregate Bond Index, while IWFQ.L tracks MSCI ACWI NR USD. They also come from different issuers: State Street and iShares. Their fees differ too: 0.10% for GLAG.MI and 0.30% for IWFQ.L.
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