IBGL.L vs. IBTU.L
IBGL.L (iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist)) and IBTU.L (iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist)) are both Government Bonds funds from iShares - IBGL.L tracks the iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) while IBTU.L tracks the ICE U.S. Treasury Short Bond Index. Both are passively managed. Over the past 5 years, IBGL.L returned -8.38%/yr vs 3.82%/yr for IBTU.L. At a 0.12 correlation, their price movements are largely independent. IBGL.L charges 0.20%/yr vs 0.07%/yr for IBTU.L.
Performance
IBGL.L vs. IBTU.L - Performance Comparison
Loading charts...
Different Trading Currencies
IBGL.L is traded in GBP, while IBTU.L is traded in USD. To make them comparable, the IBTU.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, IBGL.L achieves a -4.18% return, which is significantly lower than IBTU.L's 1.35% return.
IBGL.L
- 1D
- -0.40%
- 1M
- -4.05%
- 6M
- -4.44%
- YTD
- -4.18%
- 1Y
- -4.09%
- 3Y*
- -0.76%
- 5Y*
- -8.38%
- 10Y*
- -2.49%
IBTU.L
- 1D
- -1.04%
- 1M
- -0.48%
- 6M
- 1.14%
- YTD
- 1.35%
- 1Y
- 2.83%
- 3Y*
- 3.49%
- 5Y*
- 3.82%
- 10Y*
- —
IBGL.L vs. IBTU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IBGL.L iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) | -4.18% | -0.80% | -5.06% | 7.50% | -30.45% | -13.04% | 18.01% | 11.55% |
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 1.35% | -3.10% | 7.15% | -0.33% | 13.06% | 1.04% | -2.08% | 0.40% |
Correlation
The correlation between IBGL.L and IBTU.L is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2019 | 0.12 |
The correlation between IBGL.L and IBTU.L shifts across timeframes, from -0.11 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IBGL.L vs. IBTU.L — Risk / Return Rank
IBGL.L
IBTU.L
IBGL.L vs. IBTU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) (IBGL.L) and iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.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.
| IBGL.L | IBTU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.88 | ||
| Sortino ratioReturn per unit of downside risk | -1.22 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.08 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.50 | 0.56 | -1.06 |
| Martin ratioReturn relative to average drawdown | -1.08 | 1.51 | -2.58 |
Loading charts...
Drawdowns
IBGL.L vs. IBTU.L - Drawdown Comparison
The maximum IBGL.L drawdown since its inception was -46.77%, which is greater than IBTU.L's maximum drawdown of -19.03%. Use the drawdown chart below to compare losses from any high point for IBGL.L and IBTU.L.
Loading charts...
Drawdown Indicators
| IBGL.L | IBTU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.77% | -19.03% | -27.74% |
Max Drawdown (1Y)Largest decline over 1 year | -8.64% | -5.03% | -3.61% |
Max Drawdown (3Y)Largest decline over 3 years | -12.99% | -9.76% | -3.23% |
Max Drawdown (5Y)Largest decline over 5 years | -41.54% | -15.83% | -25.71% |
Max Drawdown (10Y)Largest decline over 10 years | -46.77% | — | — |
Current DrawdownCurrent decline from peak | -42.87% | -6.44% | -36.43% |
Average DrawdownAverage peak-to-trough decline | -14.72% | -9.18% | -5.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.99% | 1.87% | +2.12% |
Volatility
IBGL.L vs. IBTU.L - Volatility Comparison
iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) (IBGL.L) has a higher volatility of 2.80% compared to iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.L) at 2.18%. This indicates that IBGL.L's price experiences larger fluctuations and is considered to be riskier than IBTU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IBGL.L | IBTU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.80% | 2.18% | +0.62% |
Volatility (6M)Calculated over the trailing 6-month period | 7.55% | 5.17% | +2.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.44% | 6.70% | +2.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.81% | 8.47% | +5.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.87% | 8.72% | +4.15% |
IBGL.L vs. IBTU.L - Expense Ratio Comparison
IBGL.L has a 0.20% expense ratio, which is higher than IBTU.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
IBGL.L vs. IBTU.L - Dividend Comparison
IBGL.L's dividend yield for the trailing twelve months is around 3.83%, less than IBTU.L's 4.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBGL.L iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) | 3.83% | 3.48% | 3.23% | 2.65% | 1.28% | 0.55% | 0.73% | 1.28% | 1.48% | 1.32% | 1.41% | 1.78% |
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 4.05% | 4.43% | 6.82% | 3.99% | 0.44% | 0.10% | 1.28% | 1.21% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBGL.L and IBTU.L have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTU.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTU.L is cheaper with a 0.07% expense ratio, compared with 0.20% for IBGL.L.
IBGL.L tracks iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist), while IBTU.L tracks ICE U.S. Treasury Short Bond Index. Their fees differ too: 0.20% for IBGL.L and 0.07% for IBTU.L.
Find the right allocation for IBGL.L and IBTU.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer