GLCB.L vs. SXRU.DE
GLCB.L (SPDR Refinitiv Global Convertible Bond UCITS ETF) and SXRU.DE (iShares Dow Jones Industrial Average UCITS ETF (Acc)) are both exchange-traded funds - GLCB.L is a Convertible Bonds fund tracking the Refinitiv Global CB TR USD, while SXRU.DE is a Large Cap Blend Equities fund tracking the Dow Jones Industrial Average. Both are passively managed. Over the past 10 years, GLCB.L returned 6.26%/yr vs 13.47%/yr for SXRU.DE. At a 0.43 correlation, their price movements are largely independent. GLCB.L charges 0.50%/yr vs 0.33%/yr for SXRU.DE.
Performance
GLCB.L vs. SXRU.DE - Performance Comparison
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Different Trading Currencies
GLCB.L is traded in GBp, while SXRU.DE is traded in EUR. To make them comparable, the SXRU.DE values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, GLCB.L achieves a 18.03% return, which is significantly higher than SXRU.DE's 10.68% return. Over the past 10 years, GLCB.L has underperformed SXRU.DE with an annualized return of 6.26%, while SXRU.DE has yielded a comparatively higher 13.47% annualized return.
GLCB.L
- 1D
- -0.23%
- 1M
- 1.57%
- YTD
- 18.03%
- 6M
- 18.11%
- 1Y
- 35.75%
- 3Y*
- 16.76%
- 5Y*
- 6.83%
- 10Y*
- 6.26%
SXRU.DE
- 1D
- -0.25%
- 1M
- 5.50%
- YTD
- 10.68%
- 6M
- 10.80%
- 1Y
- 26.80%
- 3Y*
- 15.75%
- 5Y*
- 11.24%
- 10Y*
- 13.47%
GLCB.L vs. SXRU.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GLCB.L SPDR Refinitiv Global Convertible Bond UCITS ETF | 18.03% | 16.97% | 8.82% | 8.16% | -10.86% | -2.14% | 33.15% | 9.84% | -25.44% | 11.93% |
SXRU.DE iShares Dow Jones Industrial Average UCITS ETF (Acc) | 10.68% | 7.39% | 15.87% | 9.51% | 2.87% | 22.56% | 3.98% | 21.51% | 0.92% | 16.83% |
Correlation
The correlation between GLCB.L and SXRU.DE is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Oct 14, 2014 | 0.43 |
The correlation between GLCB.L and SXRU.DE shifts across timeframes, from 0.39 (1 year) to 0.54 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
GLCB.L vs. SXRU.DE — Risk / Return Rank
GLCB.L
SXRU.DE
GLCB.L vs. SXRU.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Refinitiv Global Convertible Bond UCITS ETF (GLCB.L) and iShares Dow Jones Industrial Average UCITS ETF (Acc) (SXRU.DE). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GLCB.L | SXRU.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.91 | ||
| Sortino ratioReturn per unit of downside risk | +1.21 | ||
| Omega ratioGain probability vs. loss probability | 1.61 | 1.41 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 6.95 | 3.68 | +3.27 |
| Martin ratioReturn relative to average drawdown | 22.84 | 12.09 | +10.76 |
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Drawdowns
GLCB.L vs. SXRU.DE - Drawdown Comparison
The maximum GLCB.L drawdown since its inception was -29.82%, roughly equal to the maximum SXRU.DE drawdown of -31.02%. Use the drawdown chart below to compare losses from any high point for GLCB.L and SXRU.DE.
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Drawdown Indicators
| GLCB.L | SXRU.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.82% | -31.02% | +1.20% |
Max Drawdown (1Y)Largest decline over 1 year | -5.12% | -7.25% | +2.13% |
Max Drawdown (3Y)Largest decline over 3 years | -8.41% | -19.25% | +10.84% |
Max Drawdown (5Y)Largest decline over 5 years | -19.80% | -19.25% | -0.55% |
Max Drawdown (10Y)Largest decline over 10 years | -29.82% | -28.94% | -0.88% |
Current DrawdownCurrent decline from peak | -2.25% | -0.25% | -2.00% |
Average DrawdownAverage peak-to-trough decline | -9.81% | -5.52% | -4.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.56% | 2.21% | -0.65% |
Volatility
GLCB.L vs. SXRU.DE - Volatility Comparison
SPDR Refinitiv Global Convertible Bond UCITS ETF (GLCB.L) has a higher volatility of 3.80% compared to iShares Dow Jones Industrial Average UCITS ETF (Acc) (SXRU.DE) at 3.13%. This indicates that GLCB.L's price experiences larger fluctuations and is considered to be riskier than SXRU.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLCB.L | SXRU.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.80% | 3.13% | +0.67% |
Volatility (6M)Calculated over the trailing 6-month period | 8.72% | 8.43% | +0.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.11% | 11.63% | -0.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.97% | 13.73% | -3.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.97% | 15.78% | -2.81% |
GLCB.L vs. SXRU.DE - Expense Ratio Comparison
GLCB.L has a 0.50% expense ratio, which is higher than SXRU.DE's 0.33% expense ratio.
Dividends
GLCB.L vs. SXRU.DE - Dividend Comparison
GLCB.L's dividend yield for the trailing twelve months is around 0.57%, while SXRU.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
GLCB.L SPDR Refinitiv Global Convertible Bond UCITS ETF | 0.57% | 0.66% | 0.47% | 0.23% | 0.23% | 0.17% | 0.31% | 0.43% | 0.35% | 0.38% |
SXRU.DE iShares Dow Jones Industrial Average UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GLCB.L and SXRU.DE have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SXRU.DE is cheaper at 0.33% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SXRU.DE is cheaper with a 0.33% expense ratio, compared with 0.50% for GLCB.L.
GLCB.L is categorized as Convertible Bonds, while SXRU.DE is Large Cap Blend Equities. GLCB.L tracks Refinitiv Global CB TR USD, while SXRU.DE tracks Dow Jones Industrial Average. They also come from different issuers: State Street and iShares. Their fees differ too: 0.50% for GLCB.L and 0.33% for SXRU.DE.
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