IBGM.L vs. GLTS.L
IBGM.L (iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist)) and GLTS.L (SPDR Bloomberg 1-5 Year Gilt UCITS ETF) are both European Government Bonds funds - IBGM.L tracks the Bloomberg Euro Agg Govt TR EUR while GLTS.L tracks the FTSE Act UK Cnvt Gilts All Stocks TR GBP. Both are passively managed. Over the past 10 years, IBGM.L returned 31.18%/yr vs 0.65%/yr for GLTS.L. At a 0.49 correlation, their price movements are largely independent. Both charge a 0.15% expense ratio.
Performance
IBGM.L vs. GLTS.L - Performance Comparison
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Returns By Period
In the year-to-date period, IBGM.L achieves a -2.35% return, which is significantly lower than GLTS.L's 0.31% return. Over the past 10 years, IBGM.L has outperformed GLTS.L with an annualized return of 31.18%, while GLTS.L has yielded a comparatively lower 0.65% annualized return.
IBGM.L
- 1D
- 0.20%
- 1M
- -1.36%
- YTD
- -2.35%
- 6M
- -2.29%
- 1Y
- 0.51%
- 3Y*
- 1.73%
- 5Y*
- 39.50%
- 10Y*
- 31.18%
GLTS.L
- 1D
- 0.14%
- 1M
- 0.50%
- YTD
- 0.31%
- 6M
- 0.61%
- 1Y
- 2.84%
- 3Y*
- 4.00%
- 5Y*
- 0.80%
- 10Y*
- 0.65%
IBGM.L vs. GLTS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBGM.L iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) | -2.35% | 5.38% | -3.53% | 465.78% | -3.14% | -9.55% | 20.87% | 117.65% | 2.05% | 4.56% |
GLTS.L SPDR Bloomberg 1-5 Year Gilt UCITS ETF | 0.31% | 5.40% | 1.76% | 3.70% | -5.72% | -1.91% | 1.77% | 1.11% | 0.41% | -0.65% |
Correlation
The correlation between IBGM.L and GLTS.L is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since May 22, 2012 | 0.49 |
The correlation between IBGM.L and GLTS.L shifts across timeframes, from 0.47 (1 year) to 0.59 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IBGM.L vs. GLTS.L — Risk / Return Rank
IBGM.L
GLTS.L
IBGM.L vs. GLTS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBGM.L) and SPDR Bloomberg 1-5 Year Gilt UCITS ETF (GLTS.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.
| IBGM.L | GLTS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.25 | ||
| Sortino ratioReturn per unit of downside risk | -1.78 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.23 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.00 | 1.34 | -1.34 |
| Martin ratioReturn relative to average drawdown | 0.01 | 4.26 | -4.26 |
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
| IBGM.L | GLTS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.00 | 1.25 | -1.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 0.24 | -0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | 0.25 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 0.34 | -0.13 |
Drawdowns
IBGM.L vs. GLTS.L - Drawdown Comparison
The maximum IBGM.L drawdown since its inception was -26.66%, which is greater than GLTS.L's maximum drawdown of -11.18%. Use the drawdown chart below to compare losses from any high point for IBGM.L and GLTS.L.
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Drawdown Indicators
| IBGM.L | GLTS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.66% | -11.18% | -15.48% |
Max Drawdown (1Y)Largest decline over 1 year | -6.20% | -2.22% | -3.98% |
Max Drawdown (3Y)Largest decline over 3 years | -6.85% | -2.22% | -4.63% |
Max Drawdown (5Y)Largest decline over 5 years | -21.27% | -10.44% | -10.83% |
Max Drawdown (10Y)Largest decline over 10 years | -26.66% | -11.18% | -15.48% |
Current DrawdownCurrent decline from peak | -5.51% | -0.91% | -4.60% |
Average DrawdownAverage peak-to-trough decline | -4.98% | -1.72% | -3.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.84% | 0.70% | +2.14% |
Volatility
IBGM.L vs. GLTS.L - Volatility Comparison
iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBGM.L) has a higher volatility of 2.59% compared to SPDR Bloomberg 1-5 Year Gilt UCITS ETF (GLTS.L) at 0.84%. This indicates that IBGM.L's price experiences larger fluctuations and is considered to be riskier than GLTS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBGM.L | GLTS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.59% | 0.84% | +1.75% |
Volatility (6M)Calculated over the trailing 6-month period | 4.94% | 2.01% | +2.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.31% | 2.39% | +3.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 193.47% | 3.25% | +190.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 138.63% | 2.62% | +136.01% |
IBGM.L vs. GLTS.L - Expense Ratio Comparison
Both IBGM.L and GLTS.L have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IBGM.L vs. GLTS.L - Dividend Comparison
IBGM.L has not paid dividends to shareholders, while GLTS.L's dividend yield for the trailing twelve months is around 3.63%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLTS.L SPDR Bloomberg 1-5 Year Gilt UCITS ETF | 3.63% | 3.44% | 2.74% | 1.30% | 0.18% | 0.13% | 0.46% | 0.60% | 0.39% | 0.52% | 0.88% | 0.98% |
IBGM.L iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) | 0.00% | 1.33% | 2.78% | 79.03% | 13.18% | 0.00% | 8.74% | 63.75% | 0.74% | 0.74% | 0.77% | 1.07% |
Frequently Asked Questions
IBGM.L and GLTS.L have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
IBGM.L and GLTS.L have the same expense ratio: 0.15% per year.
IBGM.L tracks Bloomberg Euro Agg Govt TR EUR, while GLTS.L tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP. They also come from different issuers: iShares and State Street.
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