GLTY.L vs. SPX5.L
GLTY.L (SPDR Bloomberg UK Gilt UCITS ETF) and SPX5.L (SPDR S&P 500 UCITS ETF) are both exchange-traded funds - GLTY.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, GLTY.L returned 283.79%/yr vs 16.32%/yr for SPX5.L. At a correlation of -0.08, they often move in opposite directions. GLTY.L charges 0.15%/yr vs 0.09%/yr for SPX5.L.
Performance
GLTY.L vs. SPX5.L - Performance Comparison
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Returns By Period
In the year-to-date period, GLTY.L achieves a -3.21% return, which is significantly lower than SPX5.L's 10.48% return. Over the past 10 years, GLTY.L has outperformed SPX5.L with an annualized return of 283.79%, while SPX5.L has yielded a comparatively lower 16.32% annualized return.
GLTY.L
- 1D
- -0.55%
- 1M
- 0.71%
- YTD
- -3.21%
- 6M
- -3.32%
- 1Y
- -1.70%
- 3Y*
- 0.59%
- 5Y*
- 73.54%
- 10Y*
- 283.79%
SPX5.L
- 1D
- -0.28%
- 1M
- 5.91%
- YTD
- 10.48%
- 6M
- 10.36%
- 1Y
- 29.09%
- 3Y*
- 19.31%
- 5Y*
- 14.91%
- 10Y*
- 16.32%
GLTY.L vs. SPX5.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GLTY.L SPDR Bloomberg UK Gilt UCITS ETF | -3.21% | 3.10% | -4.48% | 279.86% | 158.03% | 169.82% | 413.90% | 596.36% | 632.13% | 2,267.04% |
SPX5.L SPDR S&P 500 UCITS ETF | 10.48% | 9.34% | 27.47% | 19.75% | -9.01% | 30.96% | 13.52% | 26.74% | -0.04% | 11.63% |
Correlation
The correlation between GLTY.L and SPX5.L is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.00 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Jun 11, 2012 | -0.08 |
The correlation between GLTY.L and SPX5.L shifts across timeframes, from -0.08 (all time) to 0.16 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GLTY.L vs. SPX5.L — Risk / Return Rank
GLTY.L
SPX5.L
GLTY.L vs. SPX5.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 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.
| GLTY.L | SPX5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.00 | ||
| Sortino ratioReturn per unit of downside risk | -3.98 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.52 | -0.55 |
| Calmar ratioReturn relative to maximum drawdown | -0.27 | 4.09 | -4.36 |
| Martin ratioReturn relative to average drawdown | -0.61 | 15.04 | -15.65 |
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 | SPX5.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.24 | 2.76 | -3.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 1.05 | -0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.12 | 1.05 | +0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.82 | 1.04 | -0.22 |
Drawdowns
GLTY.L vs. SPX5.L - Drawdown Comparison
The maximum GLTY.L drawdown since its inception was -23.61%, smaller than the maximum SPX5.L drawdown of -25.45%. Use the drawdown chart below to compare losses from any high point for GLTY.L and SPX5.L.
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Drawdown Indicators
| GLTY.L | SPX5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.61% | -25.45% | +1.84% |
Max Drawdown (1Y)Largest decline over 1 year | -6.40% | -7.07% | +0.67% |
Max Drawdown (3Y)Largest decline over 3 years | -7.96% | -20.90% | +12.94% |
Max Drawdown (5Y)Largest decline over 5 years | -23.61% | -20.90% | -2.71% |
Max Drawdown (10Y)Largest decline over 10 years | -23.61% | -25.45% | +1.84% |
Current DrawdownCurrent decline from peak | -6.57% | -0.28% | -6.29% |
Average DrawdownAverage peak-to-trough decline | -3.92% | -3.18% | -0.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.79% | 1.93% | +0.86% |
Volatility
GLTY.L vs. SPX5.L - Volatility Comparison
SPDR Bloomberg UK Gilt UCITS ETF (GLTY.L) has a higher volatility of 2.87% compared to SPDR S&P 500 UCITS ETF (SPX5.L) at 2.67%. This indicates that GLTY.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
| GLTY.L | SPX5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.87% | 2.67% | +0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 5.51% | 7.17% | -1.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.94% | 10.57% | -3.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 135.35% | 14.22% | +121.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 251.64% | 15.52% | +236.12% |
GLTY.L vs. SPX5.L - Expense Ratio Comparison
GLTY.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
GLTY.L vs. SPX5.L - Dividend Comparison
GLTY.L has not paid dividends to shareholders, while SPX5.L's dividend yield for the trailing twelve months is around 0.89%.
| 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% |
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
GLTY.L and SPX5.L have a correlation of 0.16, 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 GLTY.L.
GLTY.L is categorized as European Government Bonds, while SPX5.L is S&P 500. GLTY.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 GLTY.L and 0.09% for SPX5.L.
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