GLTL.L vs. SPX5.L
GLTL.L (SPDR Bloomberg 15+ Year Gilt UCITS ETF) and SPX5.L (SPDR S&P 500 UCITS ETF) 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 SPX5.L is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, GLTL.L returned -3.59%/yr vs 16.17%/yr for SPX5.L. At a correlation of -0.09, they often move in opposite directions. GLTL.L charges 0.15%/yr vs 0.09%/yr for SPX5.L.
Performance
GLTL.L vs. SPX5.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 SPX5.L's 10.53% return. Over the past 10 years, GLTL.L has underperformed SPX5.L with an annualized return of -3.59%, while SPX5.L has yielded a comparatively higher 16.17% 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%
SPX5.L
- 1D
- 0.05%
- 1M
- 5.53%
- YTD
- 10.53%
- 6M
- 10.48%
- 1Y
- 29.15%
- 3Y*
- 19.03%
- 5Y*
- 14.92%
- 10Y*
- 16.17%
GLTL.L vs. SPX5.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% |
SPX5.L SPDR S&P 500 UCITS ETF | 10.53% | 9.34% | 27.47% | 19.75% | -9.01% | 30.96% | 13.52% | 26.74% | -0.04% | 11.63% |
Correlation
The correlation between GLTL.L and SPX5.L is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since May 28, 2012 | -0.09 |
The correlation between GLTL.L and SPX5.L shifts across timeframes, from -0.09 (all time) to 0.19 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GLTL.L vs. SPX5.L — Risk / Return Rank
GLTL.L
SPX5.L
GLTL.L vs. SPX5.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 SPDR S&P 500 UCITS ETF (SPX5.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 | SPX5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.75 | ||
| Sortino ratioReturn per unit of downside risk | -3.60 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.52 | -0.50 |
| Calmar ratioReturn relative to maximum drawdown | 0.02 | 4.10 | -4.09 |
| Martin ratioReturn relative to average drawdown | 0.04 | 15.08 | -15.03 |
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 | SPX5.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.02 | 2.76 | -2.75 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.55 | 1.05 | -1.60 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.21 | 1.04 | -1.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.03 | 1.04 | -1.07 |
Drawdowns
GLTL.L vs. SPX5.L - Drawdown Comparison
The maximum GLTL.L drawdown since its inception was -55.18%, which is greater than SPX5.L's maximum drawdown of -25.45%. Use the drawdown chart below to compare losses from any high point for GLTL.L and SPX5.L.
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Drawdown Indicators
| GLTL.L | SPX5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.18% | -25.45% | -29.73% |
Max Drawdown (1Y)Largest decline over 1 year | -10.86% | -7.07% | -3.79% |
Max Drawdown (3Y)Largest decline over 3 years | -16.53% | -20.90% | +4.37% |
Max Drawdown (5Y)Largest decline over 5 years | -52.99% | -20.90% | -32.09% |
Max Drawdown (10Y)Largest decline over 10 years | -55.18% | -25.45% | -29.73% |
Current DrawdownCurrent decline from peak | -52.05% | -0.22% | -51.83% |
Average DrawdownAverage peak-to-trough decline | -19.76% | -3.18% | -16.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.27% | 1.93% | +2.34% |
Volatility
GLTL.L vs. SPX5.L - Volatility Comparison
SPDR Bloomberg 15+ Year Gilt UCITS ETF (GLTL.L) has a higher volatility of 5.33% compared to SPDR S&P 500 UCITS ETF (SPX5.L) at 2.67%. This indicates that GLTL.L's price experiences larger fluctuations and is considered to be riskier than SPX5.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 | SPX5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.33% | 2.67% | +2.66% |
Volatility (6M)Calculated over the trailing 6-month period | 9.67% | 7.16% | +2.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.50% | 10.50% | +2.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.75% | 14.22% | +5.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.01% | 15.52% | +1.49% |
GLTL.L vs. SPX5.L - Expense Ratio Comparison
GLTL.L has a 0.15% expense ratio, which is higher than SPX5.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. SPX5.L - Dividend Comparison
GLTL.L's dividend yield for the trailing twelve months is around 5.12%, more than SPX5.L's 0.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SPX5.L SPDR S&P 500 UCITS ETF | 0.89% | 0.98% | 1.04% | 1.21% | 1.39% | 0.98% | 1.40% | 1.76% | 1.71% | 2.36% | 1.49% | 1.68% |
Frequently Asked Questions
GLTL.L and SPX5.L have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPX5.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPX5.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 SPX5.L is S&P 500. GLTL.L tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP, while SPX5.L tracks S&P 500 Index. Their fees differ too: 0.15% for GLTL.L and 0.09% for SPX5.L.
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