GLTL.L vs. GILS.L
GLTL.L (SPDR Bloomberg 15+ Year Gilt UCITS ETF) and GILS.L (Lyxor Core UK Government Bond (DR) UCITS ETF - Dist) are both European Government Bonds funds - GLTL.L tracks the FTSE Act UK Cnvt Gilts All Stocks TR GBP while GILS.L tracks the FTSE Actuaries UK Conventional Gilts All Stocks. Both are passively managed. Over the past 10 years, GLTL.L returned -3.59%/yr vs -3.33%/yr for GILS.L. Their correlation of 0.85 suggests significant overlap in exposure. GLTL.L charges 0.15%/yr vs 0.05%/yr for GILS.L.
Performance
GLTL.L vs. GILS.L - Performance Comparison
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Different Trading Currencies
GLTL.L is traded in GBP, while GILS.L is traded in GBp. To make them comparable, the GILS.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, GLTL.L achieves a -3.57% return, which is significantly lower than GILS.L's -1.13% return. Over the past 10 years, GLTL.L has underperformed GILS.L with an annualized return of -3.59%, while GILS.L has yielded a comparatively higher -3.33% 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%
GILS.L
- 1D
- 0.22%
- 1M
- 1.40%
- YTD
- -1.13%
- 6M
- -4.27%
- 1Y
- -0.95%
- 3Y*
- -0.26%
- 5Y*
- -6.53%
- 10Y*
- -3.33%
GLTL.L vs. GILS.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% |
GILS.L Lyxor Core UK Government Bond (DR) UCITS ETF - Dist | -1.13% | 1.70% | -5.79% | 1.51% | -25.53% | -6.84% | 5.96% | 4.09% | -2.08% | -1.13% |
Correlation
The correlation between GLTL.L and GILS.L is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since May 29, 2012 | 0.85 |
The correlation between GLTL.L and GILS.L shifts across timeframes, from 0.85 (all time) to 0.96 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
GLTL.L vs. GILS.L — Risk / Return Rank
GLTL.L
GILS.L
GLTL.L vs. GILS.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 Lyxor Core UK Government Bond (DR) UCITS ETF - Dist (GILS.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 | GILS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 0.98 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.02 | -0.15 | +0.17 |
| Martin ratioReturn relative to average drawdown | 0.04 | -0.34 | +0.38 |
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 | GILS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.02 | -0.14 | +0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.55 | -0.65 | +0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.21 | -0.37 | +0.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.03 | 0.01 | -0.04 |
Drawdowns
GLTL.L vs. GILS.L - Drawdown Comparison
The maximum GLTL.L drawdown since its inception was -55.18%, which is greater than GILS.L's maximum drawdown of -38.75%. Use the drawdown chart below to compare losses from any high point for GLTL.L and GILS.L.
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Drawdown Indicators
| GLTL.L | GILS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.18% | -38.75% | -16.43% |
Max Drawdown (1Y)Largest decline over 1 year | -10.86% | -6.23% | -4.63% |
Max Drawdown (3Y)Largest decline over 3 years | -16.53% | -9.33% | -7.20% |
Max Drawdown (5Y)Largest decline over 5 years | -52.99% | -34.64% | -18.35% |
Max Drawdown (10Y)Largest decline over 10 years | -55.18% | -38.75% | -16.43% |
Current DrawdownCurrent decline from peak | -52.05% | -35.86% | -16.19% |
Average DrawdownAverage peak-to-trough decline | -19.76% | -12.02% | -7.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.27% | 2.78% | +1.49% |
Volatility
GLTL.L vs. GILS.L - Volatility Comparison
SPDR Bloomberg 15+ Year Gilt UCITS ETF (GLTL.L) has a higher volatility of 5.33% compared to Lyxor Core UK Government Bond (DR) UCITS ETF - Dist (GILS.L) at 2.44%. This indicates that GLTL.L's price experiences larger fluctuations and is considered to be riskier than GILS.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 | GILS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.33% | 2.44% | +2.89% |
Volatility (6M)Calculated over the trailing 6-month period | 9.67% | 5.64% | +4.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.50% | 6.67% | +5.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.75% | 10.11% | +9.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.01% | 9.06% | +7.95% |
GLTL.L vs. GILS.L - Expense Ratio Comparison
GLTL.L has a 0.15% expense ratio, which is higher than GILS.L's 0.05% 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. GILS.L - Dividend Comparison
GLTL.L's dividend yield for the trailing twelve months is around 5.12%, while GILS.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GILS.L Lyxor Core UK Government Bond (DR) UCITS ETF - Dist | 0.00% | 0.00% | 0.00% | 0.00% | 0.02% | 0.02% | 0.02% | 0.03% | 0.03% | 0.03% | 0.03% | 0.00% |
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
With a correlation of 0.93, GLTL.L and GILS.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, GILS.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GILS.L is cheaper with a 0.05% expense ratio, compared with 0.15% for GLTL.L.
GLTL.L tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP, while GILS.L tracks FTSE Actuaries UK Conventional Gilts All Stocks. They also come from different issuers: State Street and Lyxor. Their fees differ too: 0.15% for GLTL.L and 0.05% for GILS.L.
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