IBGL.MI vs. SPY
IBGL.MI (iShares € Govt Bond 15-30yr UCITS ETF EUR Dist) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - IBGL.MI is a European Government Bonds fund tracking the Bloomberg Euro Government Bond 30 Year Term Index, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, IBGL.MI returned -2.10%/yr vs 15.31%/yr for SPY. At a correlation of -0.02, they often move in opposite directions. IBGL.MI charges 0.15%/yr vs 0.09%/yr for SPY.
Performance
IBGL.MI vs. SPY - Performance Comparison
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Different Trading Currencies
IBGL.MI is traded in EUR, while SPY is traded in USD. To make them comparable, the SPY values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, IBGL.MI achieves a -0.06% return, which is significantly lower than SPY's 12.83% return. Over the past 10 years, IBGL.MI has underperformed SPY with an annualized return of -2.10%, while SPY has yielded a comparatively higher 15.31% annualized return.
IBGL.MI
- 1D
- -0.95%
- 1M
- 1.07%
- YTD
- -0.06%
- 6M
- -0.97%
- 1Y
- -3.37%
- 3Y*
- -0.04%
- 5Y*
- -7.32%
- 10Y*
- -2.10%
SPY
- 1D
- 0.00%
- 1M
- 6.36%
- YTD
- 12.83%
- 6M
- 12.12%
- 1Y
- 26.10%
- 3Y*
- 19.32%
- 5Y*
- 15.02%
- 10Y*
- 15.31%
IBGL.MI vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBGL.MI iShares € Govt Bond 15-30yr UCITS ETF EUR Dist | -0.06% | -5.53% | -0.17% | 10.21% | -34.75% | -7.00% | 11.97% | 15.43% | 3.11% | -1.15% |
SPY State Street SPDR S&P 500 ETF | 12.24% | 3.75% | 33.13% | 22.39% | -13.10% | 38.36% | 8.58% | 34.19% | -0.09% | 6.75% |
Correlation
The correlation between IBGL.MI and SPY is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Aug 27, 2007 | -0.02 |
The correlation between IBGL.MI and SPY shifts across timeframes, from -0.02 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IBGL.MI vs. SPY — Risk / Return Rank
IBGL.MI
SPY
IBGL.MI vs. SPY - 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.MI) and State Street SPDR S&P 500 ETF (SPY). 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.
| IBGL.MI | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.51 | ||
| Sortino ratioReturn per unit of downside risk | -3.23 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.40 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | -0.54 | 3.55 | -4.09 |
| Martin ratioReturn relative to average drawdown | -0.98 | 13.46 | -14.44 |
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
| IBGL.MI | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.36 | 2.15 | -2.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.54 | 0.89 | -1.43 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.18 | 0.83 | -1.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.62 | -0.35 |
Drawdowns
IBGL.MI vs. SPY - Drawdown Comparison
The maximum IBGL.MI drawdown since its inception was -43.83%, smaller than the maximum SPY drawdown of -49.85%. Use the drawdown chart below to compare losses from any high point for IBGL.MI and SPY.
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Drawdown Indicators
| IBGL.MI | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.83% | -49.85% | +6.02% |
Max Drawdown (1Y)Largest decline over 1 year | -6.26% | -7.38% | +1.12% |
Max Drawdown (3Y)Largest decline over 3 years | -12.10% | -23.87% | +11.77% |
Max Drawdown (5Y)Largest decline over 5 years | -42.23% | -23.87% | -18.36% |
Max Drawdown (10Y)Largest decline over 10 years | -43.83% | -33.22% | -10.61% |
Current DrawdownCurrent decline from peak | -37.45% | 0.00% | -37.45% |
Average DrawdownAverage peak-to-trough decline | -12.22% | -7.85% | -4.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.44% | 1.94% | +1.50% |
Volatility
IBGL.MI vs. SPY - Volatility Comparison
iShares € Govt Bond 15-30yr UCITS ETF EUR Dist (IBGL.MI) has a higher volatility of 3.70% compared to State Street SPDR S&P 500 ETF (SPY) at 2.13%. This indicates that IBGL.MI's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBGL.MI | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.70% | 2.13% | +1.57% |
Volatility (6M)Calculated over the trailing 6-month period | 7.20% | 8.54% | -1.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.28% | 12.27% | -2.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.56% | 16.96% | -3.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.50% | 18.46% | -6.96% |
IBGL.MI vs. SPY - Expense Ratio Comparison
IBGL.MI has a 0.15% expense ratio, which is higher than SPY'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
IBGL.MI vs. SPY - Dividend Comparison
IBGL.MI's dividend yield for the trailing twelve months is around 3.68%, more than SPY's 0.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBGL.MI iShares € Govt Bond 15-30yr UCITS ETF EUR Dist | 3.68% | 3.53% | 3.18% | 2.66% | 1.32% | 0.53% | 0.74% | 1.27% | 1.50% | 1.35% | 1.48% | 1.83% |
SPY State Street SPDR S&P 500 ETF | 0.98% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Frequently Asked Questions
IBGL.MI and SPY have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPY is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPY is cheaper with a 0.09% expense ratio, compared with 0.15% for IBGL.MI.
IBGL.MI is categorized as European Government Bonds, while SPY is S&P 500. IBGL.MI tracks Bloomberg Euro Government Bond 30 Year Term Index, while SPY tracks S&P 500 Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.15% for IBGL.MI and 0.09% for SPY.
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