GLTA.L vs. UKG5.L
GLTA.L (Invesco UK Gilts UCITS ETF Acc) and UKG5.L (L&G UK Gilt 0-5 Year UCITS ETF) are both European Government Bonds funds tracking the FTSE Act UK Cnvt Gilts All Stocks TR GBP, from Invesco and Legal & General respectively. Both are passively managed. Over the past 3 years, GLTA.L returned 2.19%/yr vs 4.11%/yr for UKG5.L. A 0.62 correlation means they provide meaningful diversification when combined. Both charge a 0.06% expense ratio.
Performance
GLTA.L vs. UKG5.L - Performance Comparison
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Returns By Period
In the year-to-date period, GLTA.L achieves a -1.16% return, which is significantly lower than UKG5.L's 0.57% return.
GLTA.L
- 1D
- 0.22%
- 1M
- 1.66%
- YTD
- -1.16%
- 6M
- -1.33%
- 1Y
- 1.96%
- 3Y*
- 2.19%
- 5Y*
- -4.77%
- 10Y*
- —
UKG5.L
- 1D
- 0.09%
- 1M
- 0.74%
- YTD
- 0.57%
- 6M
- 0.66%
- 1Y
- 3.09%
- 3Y*
- 4.11%
- 5Y*
- —
- 10Y*
- —
GLTA.L vs. UKG5.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GLTA.L Invesco UK Gilts UCITS ETF Acc | -1.16% | 4.99% | -4.18% | 3.52% | -25.15% | 2.53% |
UKG5.L L&G UK Gilt 0-5 Year UCITS ETF | 0.57% | 5.06% | 2.37% | 3.91% | -5.07% | -0.54% |
Correlation
The correlation between GLTA.L and UKG5.L is 0.86, 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 | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since May 17, 2021 | 0.62 |
Over the past year, GLTA.L and UKG5.L have become more correlated (0.86) than their long-term average of 0.62, meaning their price movements have been converging.
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Return for Risk
GLTA.L vs. UKG5.L — Risk / Return Rank
GLTA.L
UKG5.L
GLTA.L vs. UKG5.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco UK Gilts UCITS ETF Acc (GLTA.L) and L&G UK Gilt 0-5 Year UCITS ETF (UKG5.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.
| GLTA.L | UKG5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.34 | ||
| Sortino ratioReturn per unit of downside risk | -1.98 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.34 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.34 | 1.64 | -1.30 |
| Martin ratioReturn relative to average drawdown | 0.90 | 5.63 | -4.72 |
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
| GLTA.L | UKG5.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.30 | 1.64 | -1.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.45 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.29 | 0.53 | -0.82 |
Drawdowns
GLTA.L vs. UKG5.L - Drawdown Comparison
The maximum GLTA.L drawdown since its inception was -36.99%, which is greater than UKG5.L's maximum drawdown of -8.78%. Use the drawdown chart below to compare losses from any high point for GLTA.L and UKG5.L.
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Drawdown Indicators
| GLTA.L | UKG5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.99% | -8.78% | -28.21% |
Max Drawdown (1Y)Largest decline over 1 year | -5.70% | -1.87% | -3.83% |
Max Drawdown (3Y)Largest decline over 3 years | -7.70% | -1.87% | -5.83% |
Max Drawdown (5Y)Largest decline over 5 years | -34.87% | — | — |
Current DrawdownCurrent decline from peak | -28.33% | -0.60% | -27.73% |
Average DrawdownAverage peak-to-trough decline | -19.08% | -2.40% | -16.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.17% | 0.55% | +1.62% |
Volatility
GLTA.L vs. UKG5.L - Volatility Comparison
Invesco UK Gilts UCITS ETF Acc (GLTA.L) has a higher volatility of 2.77% compared to L&G UK Gilt 0-5 Year UCITS ETF (UKG5.L) at 0.86%. This indicates that GLTA.L's price experiences larger fluctuations and is considered to be riskier than UKG5.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLTA.L | UKG5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.77% | 0.86% | +1.91% |
Volatility (6M)Calculated over the trailing 6-month period | 5.12% | 1.68% | +3.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.47% | 1.88% | +4.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.56% | 2.80% | +7.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.31% | 2.80% | +7.51% |
GLTA.L vs. UKG5.L - Expense Ratio Comparison
Both GLTA.L and UKG5.L have an expense ratio of 0.06%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
GLTA.L vs. UKG5.L - Dividend Comparison
GLTA.L has not paid dividends to shareholders, while UKG5.L's dividend yield for the trailing twelve months is around 3.94%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
GLTA.L Invesco UK Gilts UCITS ETF Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UKG5.L L&G UK Gilt 0-5 Year UCITS ETF | 3.94% | 3.94% | 3.66% | 2.02% | 0.04% |
Frequently Asked Questions
GLTA.L and UKG5.L have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.06% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
GLTA.L and UKG5.L have the same expense ratio: 0.06% per year.
Both ETFs track FTSE Act UK Cnvt Gilts All Stocks TR GBP. They also come from different issuers: Invesco and Legal & General.
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