GLBL.L vs. IGLH.L
GLBL.L (SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged) and IGLH.L (iShares Global Government Bond UCITS ETF GBP Hedged (Dist)) are both Global Bonds funds - GLBL.L tracks the Bloomberg Global Aggregate TR USD while IGLH.L tracks the Bloomberg Global Aggregate TR Hdg GBP. Both are passively managed. Over the past 5 years, GLBL.L returned -2.93%/yr vs -1.16%/yr for IGLH.L. At a 0.44 correlation, their price movements are largely independent. GLBL.L charges 0.10%/yr vs 0.25%/yr for IGLH.L.
Performance
GLBL.L vs. IGLH.L - Performance Comparison
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Returns By Period
In the year-to-date period, GLBL.L achieves a -1.47% return, which is significantly lower than IGLH.L's 2.41% return.
GLBL.L
- 1D
- 0.11%
- 1M
- 0.87%
- YTD
- -1.47%
- 6M
- -1.76%
- 1Y
- 0.11%
- 3Y*
- -2.10%
- 5Y*
- -2.93%
- 10Y*
- —
IGLH.L
- 1D
- -0.30%
- 1M
- 0.13%
- YTD
- 2.41%
- 6M
- -0.35%
- 1Y
- 1.81%
- 3Y*
- 2.04%
- 5Y*
- -1.16%
- 10Y*
- —
GLBL.L vs. IGLH.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GLBL.L SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged | -1.47% | -2.39% | -2.65% | -2.45% | -7.22% | -5.08% | 3.70% | 1.65% | 7.00% |
IGLH.L iShares Global Government Bond UCITS ETF GBP Hedged (Dist) | 2.41% | 0.63% | 0.79% | 4.70% | -13.61% | -2.47% | 5.04% | 5.48% | 0.88% |
Correlation
The correlation between GLBL.L and IGLH.L is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2018 | 0.44 |
The correlation between GLBL.L and IGLH.L shifts across timeframes, from 0.24 (1 year) to 0.45 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
GLBL.L vs. IGLH.L — Risk / Return Rank
GLBL.L
IGLH.L
GLBL.L vs. IGLH.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged (GLBL.L) and iShares Global Government Bond UCITS ETF GBP Hedged (Dist) (IGLH.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.
| GLBL.L | IGLH.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.31 | ||
| Sortino ratioReturn per unit of downside risk | -0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.08 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.02 | 0.52 | -0.50 |
| Martin ratioReturn relative to average drawdown | 0.04 | 1.55 | -1.51 |
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
| GLBL.L | IGLH.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.02 | 0.33 | -0.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.43 | -0.21 | -0.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.16 | 0.06 | -0.22 |
Drawdowns
GLBL.L vs. IGLH.L - Drawdown Comparison
The maximum GLBL.L drawdown since its inception was -25.17%, which is greater than IGLH.L's maximum drawdown of -18.45%. Use the drawdown chart below to compare losses from any high point for GLBL.L and IGLH.L.
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Drawdown Indicators
| GLBL.L | IGLH.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.17% | -18.45% | -6.72% |
Max Drawdown (1Y)Largest decline over 1 year | -5.16% | -3.39% | -1.77% |
Max Drawdown (3Y)Largest decline over 3 years | -8.09% | -4.52% | -3.57% |
Max Drawdown (5Y)Largest decline over 5 years | -18.62% | -16.90% | -1.72% |
Current DrawdownCurrent decline from peak | -24.05% | -9.40% | -14.65% |
Average DrawdownAverage peak-to-trough decline | -12.84% | -7.36% | -5.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.69% | 1.14% | +1.55% |
Volatility
GLBL.L vs. IGLH.L - Volatility Comparison
The current volatility for SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged (GLBL.L) is 1.36%, while iShares Global Government Bond UCITS ETF GBP Hedged (Dist) (IGLH.L) has a volatility of 1.54%. This indicates that GLBL.L experiences smaller price fluctuations and is considered to be less risky than IGLH.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLBL.L | IGLH.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.36% | 1.54% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 3.61% | 4.80% | -1.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.00% | 5.35% | -0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.74% | 5.43% | +1.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.27% | 4.75% | +2.52% |
GLBL.L vs. IGLH.L - Expense Ratio Comparison
GLBL.L has a 0.10% expense ratio, which is lower than IGLH.L's 0.25% 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
GLBL.L vs. IGLH.L - Dividend Comparison
GLBL.L's dividend yield for the trailing twelve months is around 0.03%, less than IGLH.L's 2.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
GLBL.L SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged | 0.03% | 0.03% | 0.03% | 0.02% | 0.01% | 0.01% | 0.02% | 0.02% | 0.01% |
IGLH.L iShares Global Government Bond UCITS ETF GBP Hedged (Dist) | 2.98% | 2.91% | 2.33% | 1.40% | 0.73% | 0.55% | 0.97% | 1.19% | 0.32% |
Frequently Asked Questions
GLBL.L and IGLH.L have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLBL.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLBL.L is cheaper with a 0.10% expense ratio, compared with 0.25% for IGLH.L.
GLBL.L tracks Bloomberg Global Aggregate TR USD, while IGLH.L tracks Bloomberg Global Aggregate TR Hdg GBP. They also come from different issuers: State Street and iShares. Their fees differ too: 0.10% for GLBL.L and 0.25% for IGLH.L.
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