GLTP.L vs. UKG5.L
GLTP.L (Invesco UK Gilts UCITS ETF Dist) 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, GLTP.L returned 1.93%/yr vs 4.01%/yr for UKG5.L. A 0.62 correlation means they provide meaningful diversification when combined. Both charge a 0.06% expense ratio.
Performance
GLTP.L vs. UKG5.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GLTP.L achieves a -1.59% return, which is significantly lower than UKG5.L's 0.48% return.
GLTP.L
- 1D
- -0.60%
- 1M
- 0.49%
- YTD
- -1.59%
- 6M
- -1.50%
- 1Y
- 2.00%
- 3Y*
- 1.93%
- 5Y*
- -4.83%
- 10Y*
- —
UKG5.L
- 1D
- -0.12%
- 1M
- 0.42%
- YTD
- 0.48%
- 6M
- 0.62%
- 1Y
- 3.06%
- 3Y*
- 4.01%
- 5Y*
- —
- 10Y*
- —
GLTP.L vs. UKG5.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GLTP.L Invesco UK Gilts UCITS ETF Dist | -1.59% | 5.35% | -4.39% | 3.50% | -24.95% | 2.27% |
UKG5.L L&G UK Gilt 0-5 Year UCITS ETF | 0.48% | 5.06% | 2.37% | 3.91% | -5.07% | -0.54% |
Correlation
The correlation between GLTP.L and UKG5.L is 0.84, 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 | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since May 17, 2021 | 0.62 |
Over the past year, GLTP.L and UKG5.L have become more correlated (0.84) than their long-term average of 0.62, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GLTP.L vs. UKG5.L — Risk / Return Rank
GLTP.L
UKG5.L
GLTP.L vs. UKG5.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco UK Gilts UCITS ETF Dist (GLTP.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.
| GLTP.L | UKG5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.32 | ||
| Sortino ratioReturn per unit of downside risk | -1.94 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.33 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.35 | 1.62 | -1.27 |
| Martin ratioReturn relative to average drawdown | 0.94 | 5.58 | -4.64 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| GLTP.L | UKG5.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.31 | 1.62 | -1.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.46 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.27 | 0.52 | -0.79 |
Drawdowns
GLTP.L vs. UKG5.L - Drawdown Comparison
The maximum GLTP.L drawdown since its inception was -37.02%, 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 GLTP.L and UKG5.L.
Loading charts...
Drawdown Indicators
| GLTP.L | UKG5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.02% | -8.78% | -28.24% |
Max Drawdown (1Y)Largest decline over 1 year | -5.69% | -1.87% | -3.82% |
Max Drawdown (3Y)Largest decline over 3 years | -7.66% | -1.87% | -5.79% |
Max Drawdown (5Y)Largest decline over 5 years | -34.89% | — | — |
Current DrawdownCurrent decline from peak | -28.56% | -0.69% | -27.87% |
Average DrawdownAverage peak-to-trough decline | -18.68% | -2.40% | -16.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.13% | 0.55% | +1.58% |
Volatility
GLTP.L vs. UKG5.L - Volatility Comparison
Invesco UK Gilts UCITS ETF Dist (GLTP.L) has a higher volatility of 3.00% compared to L&G UK Gilt 0-5 Year UCITS ETF (UKG5.L) at 0.90%. This indicates that GLTP.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.
Loading charts...
Volatility by Period
| GLTP.L | UKG5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.00% | 0.90% | +2.10% |
Volatility (6M)Calculated over the trailing 6-month period | 5.22% | 1.68% | +3.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.52% | 1.88% | +4.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.58% | 2.80% | +7.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.25% | 2.80% | +7.45% |
GLTP.L vs. UKG5.L - Expense Ratio Comparison
Both GLTP.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
GLTP.L vs. UKG5.L - Dividend Comparison
GLTP.L's dividend yield for the trailing twelve months is around 4.51%, more than UKG5.L's 3.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
GLTP.L Invesco UK Gilts UCITS ETF Dist | 4.51% | 4.39% | 4.33% | 3.24% | 1.62% | 0.81% | 0.81% | 0.72% |
UKG5.L L&G UK Gilt 0-5 Year UCITS ETF | 3.94% | 3.94% | 3.66% | 2.02% | 0.04% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GLTP.L and UKG5.L have a correlation of 0.84, 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.
GLTP.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.
Find the right allocation for GLTP.L and UKG5.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer