IBGM.L vs. IGL5.L
IBGM.L (iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist)) and IGL5.L (iShares UK Gilts 0-5yr UCITS ETF GBP (Acc)) are both European Government Bonds funds from iShares - IBGM.L tracks the Bloomberg Euro Agg Govt TR EUR while IGL5.L tracks the FTSE Actuaries UK Conventional Gilts up to 5 Years Index (GBP). Both are passively managed. Over the past 3 years, IBGM.L returned 1.73%/yr vs 4.23%/yr for IGL5.L. A 0.61 correlation means they provide meaningful diversification when combined. IBGM.L charges 0.15%/yr vs 0.07%/yr for IGL5.L.
Performance
IBGM.L vs. IGL5.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 IGL5.L's 0.92% 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%
IGL5.L
- 1D
- 0.09%
- 1M
- 0.39%
- YTD
- 0.92%
- 6M
- 0.73%
- 1Y
- 3.04%
- 3Y*
- 4.23%
- 5Y*
- —
- 10Y*
- —
IBGM.L vs. IGL5.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IBGM.L iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) | -2.35% | 5.38% | -3.53% | 6.86% |
IGL5.L iShares UK Gilts 0-5yr UCITS ETF GBP (Acc) | 0.92% | 4.56% | 2.68% | 4.14% |
Correlation
The correlation between IBGM.L and IGL5.L is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since May 24, 2023 | 0.61 |
The correlation between IBGM.L and IGL5.L has been stable across timeframes, ranging from 0.56 to 0.61 - a consistent structural relationship.
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Return for Risk
IBGM.L vs. IGL5.L — Risk / Return Rank
IBGM.L
IGL5.L
IBGM.L vs. IGL5.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 iShares UK Gilts 0-5yr UCITS ETF GBP (Acc) (IGL5.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 | IGL5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.48 | ||
| Sortino ratioReturn per unit of downside risk | -2.13 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.30 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.00 | 1.63 | -1.63 |
| Martin ratioReturn relative to average drawdown | 0.01 | 5.55 | -5.55 |
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 | IGL5.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.00 | 1.48 | -1.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 1.88 | -1.67 |
Drawdowns
IBGM.L vs. IGL5.L - Drawdown Comparison
The maximum IBGM.L drawdown since its inception was -26.66%, which is greater than IGL5.L's maximum drawdown of -1.89%. Use the drawdown chart below to compare losses from any high point for IBGM.L and IGL5.L.
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Drawdown Indicators
| IBGM.L | IGL5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.66% | -1.89% | -24.77% |
Max Drawdown (1Y)Largest decline over 1 year | -6.20% | -1.89% | -4.31% |
Max Drawdown (3Y)Largest decline over 3 years | -6.85% | -1.89% | -4.96% |
Max Drawdown (5Y)Largest decline over 5 years | -21.27% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -26.66% | — | — |
Current DrawdownCurrent decline from peak | -5.51% | -0.64% | -4.87% |
Average DrawdownAverage peak-to-trough decline | -4.98% | -0.31% | -4.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.84% | 0.56% | +2.28% |
Volatility
IBGM.L vs. IGL5.L - Volatility Comparison
iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBGM.L) has a higher volatility of 2.59% compared to iShares UK Gilts 0-5yr UCITS ETF GBP (Acc) (IGL5.L) at 0.70%. This indicates that IBGM.L's price experiences larger fluctuations and is considered to be riskier than IGL5.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 | IGL5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.59% | 0.70% | +1.89% |
Volatility (6M)Calculated over the trailing 6-month period | 4.94% | 1.89% | +3.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.31% | 2.09% | +4.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 193.47% | 2.16% | +191.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 138.63% | 2.16% | +136.47% |
IBGM.L vs. IGL5.L - Expense Ratio Comparison
IBGM.L has a 0.15% expense ratio, which is higher than IGL5.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
IBGM.L vs. IGL5.L - Dividend Comparison
Neither IBGM.L nor IGL5.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
IGL5.L iShares UK Gilts 0-5yr UCITS ETF GBP (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% |
Frequently Asked Questions
IBGM.L and IGL5.L have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGL5.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGL5.L is cheaper with a 0.07% expense ratio, compared with 0.15% for IBGM.L.
IBGM.L tracks Bloomberg Euro Agg Govt TR EUR, while IGL5.L tracks FTSE Actuaries UK Conventional Gilts up to 5 Years Index (GBP). Their fees differ too: 0.15% for IBGM.L and 0.07% for IGL5.L.
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