IAUP.L vs. IBTS.L
IAUP.L (iShares Gold Producers UCITS ETF USD Acc) and IBTS.L (iShares $ Treasury Bond 1-3yr UCITS ETF) are both exchange-traded funds - IAUP.L is a Gold fund tracking the S&P Commodity Producers Gold Index, while IBTS.L is a Government Bonds fund tracking the ICE U.S. Treasury 1-3 Year Bond Index. Both are passively managed. Over the past 10 years, IAUP.L returned 13.00%/yr vs 1.79%/yr for IBTS.L. At a correlation of -0.05, they often move in opposite directions. IAUP.L charges 0.55%/yr vs 0.07%/yr for IBTS.L.
Performance
IAUP.L vs. IBTS.L - Performance Comparison
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Different Trading Currencies
IAUP.L is traded in USD, while IBTS.L is traded in GBP. To make them comparable, the IBTS.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IAUP.L achieves a -5.97% return, which is significantly lower than IBTS.L's 0.27% return. Over the past 10 years, IAUP.L has outperformed IBTS.L with an annualized return of 13.00%, while IBTS.L has yielded a comparatively lower 1.79% annualized return.
IAUP.L
- 1D
- -0.83%
- 1M
- -14.34%
- YTD
- -5.97%
- 6M
- 0.57%
- 1Y
- 53.86%
- 3Y*
- 39.07%
- 5Y*
- 17.21%
- 10Y*
- 13.00%
IBTS.L
- 1D
- 0.32%
- 1M
- -0.22%
- YTD
- 0.27%
- 6M
- 0.74%
- 1Y
- 3.40%
- 3Y*
- 4.18%
- 5Y*
- 1.82%
- 10Y*
- 1.79%
IAUP.L vs. IBTS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAUP.L iShares Gold Producers UCITS ETF USD Acc | -5.97% | 153.99% | 11.49% | 9.43% | -11.06% | -10.31% | 23.60% | 45.60% | -9.55% | 6.68% |
IBTS.L iShares $ Treasury Bond 1-3yr UCITS ETF | 0.27% | 5.49% | 4.02% | 3.79% | -3.89% | -0.28% | 2.72% | 4.39% | 1.15% | 0.10% |
Correlation
The correlation between IAUP.L and IBTS.L is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Sep 19, 2011 | -0.05 |
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Return for Risk
IAUP.L vs. IBTS.L — Risk / Return Rank
IAUP.L
IBTS.L
IAUP.L vs. IBTS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Producers UCITS ETF USD Acc (IAUP.L) and iShares $ Treasury Bond 1-3yr UCITS ETF (IBTS.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.
| IAUP.L | IBTS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.40 | ||
| Sortino ratioReturn per unit of downside risk | +0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.14 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.80 | 3.17 | -1.37 |
| Martin ratioReturn relative to average drawdown | 4.67 | 9.07 | -4.40 |
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
| IAUP.L | IBTS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.22 | 0.82 | +0.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.49 | 0.36 | +0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.38 | 0.35 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.07 | 0.08 | 0.00 |
Drawdowns
IAUP.L vs. IBTS.L - Drawdown Comparison
The maximum IAUP.L drawdown since its inception was -79.88%, which is greater than IBTS.L's maximum drawdown of -16.87%. Use the drawdown chart below to compare losses from any high point for IAUP.L and IBTS.L.
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Drawdown Indicators
| IAUP.L | IBTS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.88% | -16.87% | -63.01% |
Max Drawdown (1Y)Largest decline over 1 year | -29.72% | -1.07% | -28.65% |
Max Drawdown (3Y)Largest decline over 3 years | -29.72% | -1.45% | -28.27% |
Max Drawdown (5Y)Largest decline over 5 years | -44.90% | -6.87% | -38.03% |
Max Drawdown (10Y)Largest decline over 10 years | -51.26% | -7.24% | -44.02% |
Current DrawdownCurrent decline from peak | -29.72% | -0.52% | -29.20% |
Average DrawdownAverage peak-to-trough decline | -48.71% | -10.08% | -38.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.50% | 0.37% | +11.13% |
Volatility
IAUP.L vs. IBTS.L - Volatility Comparison
iShares Gold Producers UCITS ETF USD Acc (IAUP.L) has a higher volatility of 14.40% compared to iShares $ Treasury Bond 1-3yr UCITS ETF (IBTS.L) at 1.37%. This indicates that IAUP.L's price experiences larger fluctuations and is considered to be riskier than IBTS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAUP.L | IBTS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.40% | 1.37% | +13.03% |
Volatility (6M)Calculated over the trailing 6-month period | 35.45% | 3.33% | +32.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.96% | 4.12% | +39.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.45% | 5.04% | +30.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.61% | 5.08% | +29.53% |
IAUP.L vs. IBTS.L - Expense Ratio Comparison
IAUP.L has a 0.55% expense ratio, which is higher than IBTS.L's 0.07% expense ratio.
Dividends
IAUP.L vs. IBTS.L - Dividend Comparison
IAUP.L has not paid dividends to shareholders, while IBTS.L's dividend yield for the trailing twelve months is around 3.97%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAUP.L iShares Gold Producers UCITS ETF USD Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IBTS.L iShares $ Treasury Bond 1-3yr UCITS ETF | 3.97% | 4.22% | 4.12% | 3.08% | 0.75% | 0.61% | 1.84% | 2.39% | 1.49% | 1.01% | 0.67% | 0.49% |
Frequently Asked Questions
IAUP.L and IBTS.L have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTS.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTS.L is cheaper with a 0.07% expense ratio, compared with 0.55% for IAUP.L.
IAUP.L is categorized as Gold, while IBTS.L is Government Bonds. IAUP.L tracks S&P Commodity Producers Gold Index, while IBTS.L tracks ICE U.S. Treasury 1-3 Year Bond Index. Their fees differ too: 0.55% for IAUP.L and 0.07% for IBTS.L.
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