GLTY.L vs. IGLS.L
GLTY.L (SPDR Bloomberg UK Gilt UCITS ETF) and IGLS.L (iShares UK Gilts 0-5yr UCITS ETF GBP (Dist)) are both European Government Bonds funds tracking the FTSE Act UK Cnvt Gilts All Stocks TR GBP, from State Street and iShares respectively. Both are passively managed. Over the past 10 years, GLTY.L returned 283.96%/yr vs 0.89%/yr for IGLS.L. A 0.73 correlation means they provide meaningful diversification when combined. GLTY.L charges 0.15%/yr vs 0.07%/yr for IGLS.L.
Performance
GLTY.L vs. IGLS.L - Performance Comparison
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Returns By Period
In the year-to-date period, GLTY.L achieves a -3.03% return, which is significantly lower than IGLS.L's 0.26% return. Over the past 10 years, GLTY.L has outperformed IGLS.L with an annualized return of 283.96%, while IGLS.L has yielded a comparatively lower 0.89% annualized return.
GLTY.L
- 1D
- 0.18%
- 1M
- 1.50%
- YTD
- -3.03%
- 6M
- -3.19%
- 1Y
- -1.74%
- 3Y*
- 0.81%
- 5Y*
- 73.61%
- 10Y*
- 283.96%
IGLS.L
- 1D
- 0.08%
- 1M
- 0.69%
- YTD
- 0.26%
- 6M
- 0.63%
- 1Y
- 3.12%
- 3Y*
- 4.24%
- 5Y*
- 1.32%
- 10Y*
- 0.89%
GLTY.L vs. IGLS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GLTY.L SPDR Bloomberg UK Gilt UCITS ETF | -3.03% | 3.10% | -4.48% | 279.86% | 158.03% | 169.82% | 413.90% | 596.36% | 632.13% | 2,267.04% |
IGLS.L iShares UK Gilts 0-5yr UCITS ETF GBP (Dist) | 0.26% | 5.26% | 2.65% | 4.19% | -4.45% | -1.68% | 1.49% | 1.05% | 0.13% | -0.38% |
Correlation
The correlation between GLTY.L and IGLS.L is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Jun 11, 2012 | 0.73 |
The correlation between GLTY.L and IGLS.L has been stable across timeframes, ranging from 0.73 to 0.83 - a consistent structural relationship.
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Return for Risk
GLTY.L vs. IGLS.L — Risk / Return Rank
GLTY.L
IGLS.L
GLTY.L vs. IGLS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg UK Gilt UCITS ETF (GLTY.L) and iShares UK Gilts 0-5yr UCITS ETF GBP (Dist) (IGLS.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.
| GLTY.L | IGLS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.81 | ||
| Sortino ratioReturn per unit of downside risk | -2.55 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.31 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.27 | 1.59 | -1.86 |
| Martin ratioReturn relative to average drawdown | -0.62 | 5.45 | -6.07 |
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
| GLTY.L | IGLS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.25 | 1.56 | -1.81 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 0.49 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.12 | 0.41 | +0.72 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.82 | 0.69 | +0.13 |
Drawdowns
GLTY.L vs. IGLS.L - Drawdown Comparison
The maximum GLTY.L drawdown since its inception was -23.61%, which is greater than IGLS.L's maximum drawdown of -9.54%. Use the drawdown chart below to compare losses from any high point for GLTY.L and IGLS.L.
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Drawdown Indicators
| GLTY.L | IGLS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.61% | -9.54% | -14.07% |
Max Drawdown (1Y)Largest decline over 1 year | -6.40% | -1.95% | -4.45% |
Max Drawdown (3Y)Largest decline over 3 years | -7.96% | -1.95% | -6.01% |
Max Drawdown (5Y)Largest decline over 5 years | -23.61% | -8.85% | -14.76% |
Max Drawdown (10Y)Largest decline over 10 years | -23.61% | -9.54% | -14.07% |
Current DrawdownCurrent decline from peak | -6.40% | -0.65% | -5.75% |
Average DrawdownAverage peak-to-trough decline | -3.92% | -1.10% | -2.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.80% | 0.57% | +2.23% |
Volatility
GLTY.L vs. IGLS.L - Volatility Comparison
SPDR Bloomberg UK Gilt UCITS ETF (GLTY.L) has a higher volatility of 2.79% compared to iShares UK Gilts 0-5yr UCITS ETF GBP (Dist) (IGLS.L) at 0.77%. This indicates that GLTY.L's price experiences larger fluctuations and is considered to be riskier than IGLS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLTY.L | IGLS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.79% | 0.77% | +2.02% |
Volatility (6M)Calculated over the trailing 6-month period | 5.50% | 1.75% | +3.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.94% | 1.99% | +4.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 135.35% | 2.67% | +132.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 251.59% | 2.18% | +249.41% |
GLTY.L vs. IGLS.L - Expense Ratio Comparison
GLTY.L has a 0.15% expense ratio, which is higher than IGLS.L's 0.07% 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
GLTY.L vs. IGLS.L - Dividend Comparison
GLTY.L has not paid dividends to shareholders, while IGLS.L's dividend yield for the trailing twelve months is around 3.99%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLTY.L SPDR Bloomberg UK Gilt UCITS ETF | 0.00% | 1.74% | 2.72% | 74.77% | 114.99% | 84.01% | 106.35% | 119.69% | 125.98% | 157.59% | 81.07% | 1.87% |
IGLS.L iShares UK Gilts 0-5yr UCITS ETF GBP (Dist) | 3.99% | 3.88% | 3.67% | 1.62% | 0.30% | 0.25% | 0.53% | 0.46% | 0.33% | 0.53% | 0.88% | 0.48% |
Frequently Asked Questions
GLTY.L and IGLS.L have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGLS.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGLS.L is cheaper with a 0.07% expense ratio, compared with 0.15% for GLTY.L.
Both ETFs track FTSE Act UK Cnvt Gilts All Stocks TR GBP. They also come from different issuers: State Street and iShares. Their fees differ too: 0.15% for GLTY.L and 0.07% for IGLS.L.
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