GLBL.L vs. SGLO.L
GLBL.L (SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged) and SGLO.L (iShares Global Government Bond UCITS ETF USD (Dist)) are both Global Bonds funds tracking the Bloomberg Global Aggregate TR USD, from State Street and iShares respectively. Both are passively managed. Over the past 5 years, GLBL.L returned -2.93%/yr vs -1.81%/yr for SGLO.L. Their correlation of 0.94 suggests significant overlap in exposure. GLBL.L charges 0.10%/yr vs 0.20%/yr for SGLO.L.
Performance
GLBL.L vs. SGLO.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 SGLO.L's -0.79% 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*
- —
SGLO.L
- 1D
- -0.11%
- 1M
- 0.41%
- YTD
- -0.79%
- 6M
- -1.34%
- 1Y
- 1.82%
- 3Y*
- -0.41%
- 5Y*
- -1.81%
- 10Y*
- 0.35%
GLBL.L vs. SGLO.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% | 7.05% |
SGLO.L iShares Global Government Bond UCITS ETF USD (Dist) | -0.79% | 0.31% | -1.33% | -1.35% | -7.72% | -5.44% | 5.97% | 2.82% | 8.88% |
Correlation
The correlation between GLBL.L and SGLO.L is 0.89, 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 | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jan 31, 2018 | 0.94 |
The correlation between GLBL.L and SGLO.L has been stable across timeframes, ranging from 0.89 to 0.94 - a consistent structural relationship.
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Return for Risk
GLBL.L vs. SGLO.L — Risk / Return Rank
GLBL.L
SGLO.L
GLBL.L vs. SGLO.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 USD (Dist) (SGLO.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 | SGLO.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.07 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.02 | 0.45 | -0.43 |
| Martin ratioReturn relative to average drawdown | 0.04 | 0.90 | -0.86 |
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 | SGLO.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.02 | 0.37 | -0.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.43 | -0.24 | -0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.04 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.16 | 0.19 | -0.34 |
Drawdowns
GLBL.L vs. SGLO.L - Drawdown Comparison
The maximum GLBL.L drawdown since its inception was -25.17%, roughly equal to the maximum SGLO.L drawdown of -25.55%. Use the drawdown chart below to compare losses from any high point for GLBL.L and SGLO.L.
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Drawdown Indicators
| GLBL.L | SGLO.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.17% | -25.55% | +0.38% |
Max Drawdown (1Y)Largest decline over 1 year | -5.16% | -4.26% | -0.90% |
Max Drawdown (3Y)Largest decline over 3 years | -8.09% | -5.41% | -2.68% |
Max Drawdown (5Y)Largest decline over 5 years | -18.62% | -16.48% | -2.14% |
Max Drawdown (10Y)Largest decline over 10 years | — | -25.55% | — |
Current DrawdownCurrent decline from peak | -24.05% | -22.83% | -1.22% |
Average DrawdownAverage peak-to-trough decline | -12.84% | -10.09% | -2.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.69% | 2.14% | +0.55% |
Volatility
GLBL.L vs. SGLO.L - Volatility Comparison
SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged (GLBL.L) has a higher volatility of 1.36% compared to iShares Global Government Bond UCITS ETF USD (Dist) (SGLO.L) at 1.24%. This indicates that GLBL.L's price experiences larger fluctuations and is considered to be riskier than SGLO.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 | SGLO.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.36% | 1.24% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 3.61% | 3.88% | -0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.00% | 5.24% | -0.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.74% | 7.47% | -0.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.27% | 8.77% | -1.50% |
GLBL.L vs. SGLO.L - Expense Ratio Comparison
GLBL.L has a 0.10% expense ratio, which is lower than SGLO.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
GLBL.L vs. SGLO.L - Dividend Comparison
GLBL.L's dividend yield for the trailing twelve months is around 0.03%, less than SGLO.L's 4.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% |
SGLO.L iShares Global Government Bond UCITS ETF USD (Dist) | 4.16% | 3.86% | 3.15% | 1.87% | 0.95% | 0.85% | 1.35% | 1.60% | 1.37% | 1.26% | 1.34% | 0.89% |
Frequently Asked Questions
GLBL.L and SGLO.L have a correlation of 0.89, 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 0.20% for SGLO.L.
Both ETFs track Bloomberg Global Aggregate TR USD. They also come from different issuers: State Street and iShares. Their fees differ too: 0.10% for GLBL.L and 0.20% for SGLO.L.
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