GLTL.L vs. ERNS.L
GLTL.L (SPDR Bloomberg 15+ Year Gilt UCITS ETF) and ERNS.L (iShares £ Ultrashort Bond UCITS ETF GBP (Dist)) are both exchange-traded funds - GLTL.L is a European Government Bonds fund tracking the FTSE Act UK Cnvt Gilts All Stocks TR GBP, while ERNS.L is a Ultrashort Bond fund actively managed by iShares. GLTL.L is passively managed, while ERNS.L is actively managed. Over the past 10 years, GLTL.L returned -3.59%/yr vs 2.20%/yr for ERNS.L. At a 0.07 correlation, their price movements are largely independent. GLTL.L charges 0.15%/yr vs 0.09%/yr for ERNS.L.
Performance
GLTL.L vs. ERNS.L - Performance Comparison
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Returns By Period
In the year-to-date period, GLTL.L achieves a -3.57% return, which is significantly lower than ERNS.L's 1.58% return. Over the past 10 years, GLTL.L has underperformed ERNS.L with an annualized return of -3.59%, while ERNS.L has yielded a comparatively higher 2.20% annualized return.
GLTL.L
- 1D
- 0.41%
- 1M
- 2.69%
- YTD
- -3.57%
- 6M
- -4.08%
- 1Y
- 0.19%
- 3Y*
- -0.97%
- 5Y*
- -10.85%
- 10Y*
- -3.59%
ERNS.L
- 1D
- 0.06%
- 1M
- 0.37%
- YTD
- 1.58%
- 6M
- 2.00%
- 1Y
- 4.44%
- 3Y*
- 5.11%
- 5Y*
- 3.62%
- 10Y*
- 2.20%
GLTL.L vs. ERNS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GLTL.L SPDR Bloomberg 15+ Year Gilt UCITS ETF | -3.57% | 3.16% | -10.46% | 1.26% | -40.67% | -6.57% | 13.60% | 11.56% | 0.21% | 3.33% |
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 1.58% | 4.84% | 5.54% | 4.76% | 1.54% | 0.13% | 0.77% | 1.27% | 0.58% | 0.57% |
Correlation
The correlation between GLTL.L and ERNS.L is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2013 | 0.07 |
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Return for Risk
GLTL.L vs. ERNS.L — Risk / Return Rank
GLTL.L
ERNS.L
GLTL.L vs. ERNS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg 15+ Year Gilt UCITS ETF (GLTL.L) and iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.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.
| GLTL.L | ERNS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.28 | ||
| Sortino ratioReturn per unit of downside risk | -9.38 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 2.39 | -1.38 |
| Calmar ratioReturn relative to maximum drawdown | 0.02 | 20.38 | -20.36 |
| Martin ratioReturn relative to average drawdown | 0.04 | 108.76 | -108.72 |
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
| GLTL.L | ERNS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.02 | 5.30 | -5.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.55 | 4.34 | -4.89 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.21 | 2.38 | -2.59 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.03 | 2.23 | -2.26 |
Drawdowns
GLTL.L vs. ERNS.L - Drawdown Comparison
The maximum GLTL.L drawdown since its inception was -55.18%, which is greater than ERNS.L's maximum drawdown of -1.51%. Use the drawdown chart below to compare losses from any high point for GLTL.L and ERNS.L.
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Drawdown Indicators
| GLTL.L | ERNS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.18% | -1.51% | -53.67% |
Max Drawdown (1Y)Largest decline over 1 year | -10.86% | -0.22% | -10.64% |
Max Drawdown (3Y)Largest decline over 3 years | -16.53% | -0.22% | -16.31% |
Max Drawdown (5Y)Largest decline over 5 years | -52.99% | -0.36% | -52.63% |
Max Drawdown (10Y)Largest decline over 10 years | -55.18% | -1.51% | -53.67% |
Current DrawdownCurrent decline from peak | -52.05% | 0.00% | -52.05% |
Average DrawdownAverage peak-to-trough decline | -19.76% | -0.05% | -19.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.27% | 0.04% | +4.23% |
Volatility
GLTL.L vs. ERNS.L - Volatility Comparison
SPDR Bloomberg 15+ Year Gilt UCITS ETF (GLTL.L) has a higher volatility of 5.33% compared to iShares £ Ultrashort Bond UCITS ETF GBP (Dist) (ERNS.L) at 0.36%. This indicates that GLTL.L's price experiences larger fluctuations and is considered to be riskier than ERNS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLTL.L | ERNS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.33% | 0.36% | +4.97% |
Volatility (6M)Calculated over the trailing 6-month period | 9.67% | 0.68% | +8.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.50% | 0.84% | +11.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.75% | 0.83% | +18.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.01% | 0.92% | +16.09% |
GLTL.L vs. ERNS.L - Expense Ratio Comparison
GLTL.L has a 0.15% expense ratio, which is higher than ERNS.L's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GLTL.L vs. ERNS.L - Dividend Comparison
GLTL.L's dividend yield for the trailing twelve months is around 5.12%, less than ERNS.L's 5.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERNS.L iShares £ Ultrashort Bond UCITS ETF GBP (Dist) | 5.65% | 4.65% | 5.42% | 4.54% | 1.14% | 0.28% | 0.75% | 1.04% | 0.74% | 0.52% | 0.81% | 0.72% |
GLTL.L SPDR Bloomberg 15+ Year Gilt UCITS ETF | 5.12% | 4.77% | 4.39% | 2.97% | 1.63% | 0.87% | 1.01% | 1.43% | 1.55% | 1.86% | 1.99% | 2.51% |
Frequently Asked Questions
GLTL.L and ERNS.L have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ERNS.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ERNS.L is cheaper with a 0.09% expense ratio, compared with 0.15% for GLTL.L.
GLTL.L is categorized as European Government Bonds, while ERNS.L is Ultrashort Bond. They also come from different issuers: State Street and iShares. Their fees differ too: 0.15% for GLTL.L and 0.09% for ERNS.L.
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