GSPX.L vs. IGLS.L
GSPX.L (iShares Core S&P 500 UCITS ETF) and IGLS.L (iShares UK Gilts 0-5yr UCITS ETF GBP (Dist)) are both exchange-traded funds - GSPX.L is a S&P 500 fund tracking the S&P 500 Index, while IGLS.L is a European Government Bonds fund tracking the FTSE Act UK Cnvt Gilts All Stocks TR GBP. Both are passively managed. Over the past 5 years, GSPX.L returned 12.13%/yr vs 1.36%/yr for IGLS.L. At a correlation of -0.00, they often move in opposite directions. GSPX.L charges 0.10%/yr vs 0.07%/yr for IGLS.L.
Performance
GSPX.L vs. IGLS.L - Performance Comparison
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Returns By Period
In the year-to-date period, GSPX.L achieves a 8.24% return, which is significantly higher than IGLS.L's 0.53% return.
GSPX.L
- 1D
- 2.38%
- 1M
- 0.64%
- YTD
- 8.24%
- 6M
- 9.38%
- 1Y
- 24.05%
- 3Y*
- 20.06%
- 5Y*
- 12.13%
- 10Y*
- —
IGLS.L
- 1D
- 0.21%
- 1M
- 0.79%
- YTD
- 0.53%
- 6M
- 1.02%
- 1Y
- 2.97%
- 3Y*
- 4.62%
- 5Y*
- 1.36%
- 10Y*
- 0.91%
GSPX.L vs. IGLS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GSPX.L iShares Core S&P 500 UCITS ETF | 8.24% | 17.16% | 24.72% | 24.87% | -20.64% | 28.96% | 15.11% | 27.76% | -7.71% |
IGLS.L iShares UK Gilts 0-5yr UCITS ETF GBP (Dist) | 0.53% | 5.26% | 2.65% | 4.19% | -4.44% | -1.68% | 1.48% | 1.05% | 0.31% |
Correlation
The correlation between GSPX.L and IGLS.L is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2018 | -0.00 |
The correlation between GSPX.L and IGLS.L shifts across timeframes, from -0.00 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GSPX.L vs. IGLS.L — Risk / Return Rank
GSPX.L
IGLS.L
GSPX.L vs. IGLS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P 500 UCITS ETF (GSPX.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GSPX.L | IGLS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.51 | ||
| Sortino ratioReturn per unit of downside risk | +0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.29 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.86 | 1.52 | +1.35 |
| Martin ratioReturn relative to average drawdown | 12.14 | 5.12 | +7.02 |
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Drawdowns
GSPX.L vs. IGLS.L - Drawdown Comparison
The maximum GSPX.L drawdown since its inception was -34.98%, 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 GSPX.L and IGLS.L.
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Drawdown Indicators
| GSPX.L | IGLS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.98% | -9.54% | -25.44% |
Max Drawdown (1Y)Largest decline over 1 year | -8.37% | -1.95% | -6.42% |
Max Drawdown (3Y)Largest decline over 3 years | -18.97% | -1.95% | -17.02% |
Max Drawdown (5Y)Largest decline over 5 years | -25.80% | -8.85% | -16.95% |
Max Drawdown (10Y)Largest decline over 10 years | — | -9.54% | — |
Current DrawdownCurrent decline from peak | -2.12% | -0.38% | -1.74% |
Average DrawdownAverage peak-to-trough decline | -5.61% | -1.19% | -4.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.98% | 0.58% | +1.40% |
Volatility
GSPX.L vs. IGLS.L - Volatility Comparison
iShares Core S&P 500 UCITS ETF (GSPX.L) has a higher volatility of 4.22% compared to iShares UK Gilts 0-5yr UCITS ETF GBP (Dist) (IGLS.L) at 0.66%. This indicates that GSPX.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
| GSPX.L | IGLS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.22% | 0.66% | +3.56% |
Volatility (6M)Calculated over the trailing 6-month period | 9.03% | 1.76% | +7.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.98% | 1.99% | +9.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.12% | 2.67% | +13.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.69% | 2.18% | +15.51% |
GSPX.L vs. IGLS.L - Expense Ratio Comparison
GSPX.L has a 0.10% 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
GSPX.L vs. IGLS.L - Dividend Comparison
GSPX.L's dividend yield for the trailing twelve months is around 0.82%, less than IGLS.L's 3.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GSPX.L iShares Core S&P 500 UCITS ETF | 0.82% | 0.89% | 0.99% | 1.15% | 1.40% | 0.96% | 1.31% | 1.50% | 0.11% | 0.00% | 0.00% | 0.00% |
IGLS.L iShares UK Gilts 0-5yr UCITS ETF GBP (Dist) | 3.97% | 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
GSPX.L and IGLS.L have a correlation of 0.28, 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 0.10% for GSPX.L.
GSPX.L is categorized as S&P 500, while IGLS.L is European Government Bonds. GSPX.L tracks S&P 500 Index, while IGLS.L tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP. Their fees differ too: 0.10% for GSPX.L and 0.07% for IGLS.L.
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