HBKS.L vs. IGLO.L
HBKS.L (HSBC Global Sukuk UCITS ETF C USD) and IGLO.L (iShares Global Government Bond UCITS) are both Global Bonds funds - HBKS.L tracks the FTSE IdealRatings Sukuk Index while IGLO.L tracks the Bloomberg Global Aggregate TR USD. Both are passively managed. Over the past year, HBKS.L returned 5.15% vs 1.03% for IGLO.L. At a 0.41 correlation, their price movements are largely independent. HBKS.L charges 0.40%/yr vs 0.20%/yr for IGLO.L.
Performance
HBKS.L vs. IGLO.L - Performance Comparison
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Different Trading Currencies
HBKS.L is traded in GBP, while IGLO.L is traded in USD. To make them comparable, the IGLO.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, HBKS.L achieves a 0.69% return, which is significantly higher than IGLO.L's -1.22% return.
HBKS.L
- 1D
- 0.31%
- 1M
- 1.44%
- YTD
- 0.69%
- 6M
- -0.75%
- 1Y
- 5.15%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IGLO.L
- 1D
- 0.04%
- 1M
- 0.33%
- YTD
- -1.22%
- 6M
- -1.38%
- 1Y
- 1.03%
- 3Y*
- -1.11%
- 5Y*
- -2.30%
- 10Y*
- -0.04%
HBKS.L vs. IGLO.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HBKS.L HSBC Global Sukuk UCITS ETF C USD | 0.69% | -0.34% | 4.48% | 1.79% |
IGLO.L iShares Global Government Bond UCITS | -1.22% | -0.49% | -1.96% | 3.78% |
Correlation
The correlation between HBKS.L and IGLO.L is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023 | 0.41 |
The correlation between HBKS.L and IGLO.L shifts across timeframes, from 0.30 (1 year) to 0.41 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HBKS.L vs. IGLO.L — Risk / Return Rank
HBKS.L
IGLO.L
HBKS.L vs. IGLO.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC Global Sukuk UCITS ETF C USD (HBKS.L) and iShares Global Government Bond UCITS (IGLO.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.
| HBKS.L | IGLO.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.57 | ||
| Sortino ratioReturn per unit of downside risk | +0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.03 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.96 | 0.20 | +0.76 |
| Martin ratioReturn relative to average drawdown | 2.08 | 0.39 | +1.69 |
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
| HBKS.L | IGLO.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.73 | 0.16 | +0.57 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.28 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.00 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.07 | +0.28 |
Drawdowns
HBKS.L vs. IGLO.L - Drawdown Comparison
The maximum HBKS.L drawdown since its inception was -8.09%, smaller than the maximum IGLO.L drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for HBKS.L and IGLO.L.
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Drawdown Indicators
| HBKS.L | IGLO.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.09% | -25.42% | +17.33% |
Max Drawdown (1Y)Largest decline over 1 year | -5.33% | -5.07% | -0.26% |
Max Drawdown (3Y)Largest decline over 3 years | — | -5.77% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.10% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -25.42% | — |
Current DrawdownCurrent decline from peak | -2.83% | -23.91% | +21.08% |
Average DrawdownAverage peak-to-trough decline | -2.41% | -11.01% | +8.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.46% | 2.61% | -0.15% |
Volatility
HBKS.L vs. IGLO.L - Volatility Comparison
HSBC Global Sukuk UCITS ETF C USD (HBKS.L) and iShares Global Government Bond UCITS (IGLO.L) have volatilities of 1.91% and 1.91%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HBKS.L | IGLO.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.91% | 1.91% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 5.27% | 5.14% | +0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.00% | 6.29% | +0.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.93% | 8.31% | -1.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.93% | 9.56% | -2.63% |
HBKS.L vs. IGLO.L - Expense Ratio Comparison
HBKS.L has a 0.40% expense ratio, which is higher than IGLO.L's 0.20% expense ratio.
Dividends
HBKS.L vs. IGLO.L - Dividend Comparison
HBKS.L has not paid dividends to shareholders, while IGLO.L's dividend yield for the trailing twelve months is around 3.11%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HBKS.L HSBC Global Sukuk UCITS ETF C USD | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IGLO.L iShares Global Government Bond UCITS | 3.11% | 2.86% | 2.51% | 1.47% | 0.78% | 0.63% | 0.99% | 1.21% | 1.07% | 0.93% | 1.09% | 0.60% |
Frequently Asked Questions
HBKS.L and IGLO.L have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGLO.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGLO.L is cheaper with a 0.20% expense ratio, compared with 0.40% for HBKS.L.
HBKS.L tracks FTSE IdealRatings Sukuk Index, while IGLO.L tracks Bloomberg Global Aggregate TR USD. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.40% for HBKS.L and 0.20% for IGLO.L.
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