IBGS.L vs. GILS.L
IBGS.L (iShares Euro Government Bond 1-3yr UCITS ETF (Dist)) and GILS.L (Lyxor Core UK Government Bond (DR) UCITS ETF - Dist) are both European Government Bonds funds - IBGS.L tracks the Bloomberg Euro Agg Govt 1-3 Yr TR EUR while GILS.L tracks the FTSE Actuaries UK Conventional Gilts All Stocks. Both are passively managed. Over the past 10 years, IBGS.L returned 1.38%/yr vs -3.32%/yr for GILS.L. At a 0.14 correlation, their price movements are largely independent. IBGS.L charges 0.15%/yr vs 0.05%/yr for GILS.L.
Performance
IBGS.L vs. GILS.L - Performance Comparison
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Different Trading Currencies
IBGS.L is traded in GBP, while GILS.L is traded in GBp. To make them comparable, the GILS.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, IBGS.L achieves a -1.02% return, which is significantly higher than GILS.L's -1.35% return. Over the past 10 years, IBGS.L has outperformed GILS.L with an annualized return of 1.38%, while GILS.L has yielded a comparatively lower -3.32% annualized return.
IBGS.L
- 1D
- -0.07%
- 1M
- 0.24%
- YTD
- -1.02%
- 6M
- -0.96%
- 1Y
- 3.54%
- 3Y*
- 2.79%
- 5Y*
- 0.92%
- 10Y*
- 1.38%
GILS.L
- 1D
- -0.60%
- 1M
- 0.61%
- YTD
- -1.35%
- 6M
- -4.24%
- 1Y
- -0.97%
- 3Y*
- -0.50%
- 5Y*
- -6.57%
- 10Y*
- -3.32%
IBGS.L vs. GILS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBGS.L iShares Euro Government Bond 1-3yr UCITS ETF (Dist) | -1.02% | 7.76% | -1.67% | 1.50% | 1.00% | -7.25% | 5.39% | -4.81% | 0.64% | 3.54% |
GILS.L Lyxor Core UK Government Bond (DR) UCITS ETF - Dist | -1.35% | 1.70% | -5.79% | 1.51% | -25.53% | -6.84% | 5.96% | 4.09% | -2.08% | -1.13% |
Correlation
The correlation between IBGS.L and GILS.L is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2010 | 0.14 |
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Return for Risk
IBGS.L vs. GILS.L — Risk / Return Rank
IBGS.L
GILS.L
IBGS.L vs. GILS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBGS.L) and Lyxor Core UK Government Bond (DR) UCITS ETF - Dist (GILS.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.
| IBGS.L | GILS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.99 | ||
| Sortino ratioReturn per unit of downside risk | +1.47 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 0.98 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | -0.15 | +1.51 |
| Martin ratioReturn relative to average drawdown | 3.05 | -0.35 | +3.39 |
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
| IBGS.L | GILS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.85 | -0.14 | +0.99 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.17 | -0.65 | +0.82 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | -0.37 | +0.56 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.01 | +0.24 |
Drawdowns
IBGS.L vs. GILS.L - Drawdown Comparison
The maximum IBGS.L drawdown since its inception was -16.59%, smaller than the maximum GILS.L drawdown of -38.75%. Use the drawdown chart below to compare losses from any high point for IBGS.L and GILS.L.
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Drawdown Indicators
| IBGS.L | GILS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.59% | -38.75% | +22.16% |
Max Drawdown (1Y)Largest decline over 1 year | -2.60% | -6.23% | +3.63% |
Max Drawdown (3Y)Largest decline over 3 years | -3.06% | -9.33% | +6.27% |
Max Drawdown (5Y)Largest decline over 5 years | -5.95% | -34.64% | +28.69% |
Max Drawdown (10Y)Largest decline over 10 years | -13.11% | -38.75% | +25.64% |
Current DrawdownCurrent decline from peak | -3.95% | -36.00% | +32.05% |
Average DrawdownAverage peak-to-trough decline | -5.92% | -12.01% | +6.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.16% | 2.77% | -1.61% |
Volatility
IBGS.L vs. GILS.L - Volatility Comparison
The current volatility for iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBGS.L) is 1.20%, while Lyxor Core UK Government Bond (DR) UCITS ETF - Dist (GILS.L) has a volatility of 2.51%. This indicates that IBGS.L experiences smaller price fluctuations and is considered to be less risky than GILS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBGS.L | GILS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 2.51% | -1.31% |
Volatility (6M)Calculated over the trailing 6-month period | 2.81% | 5.64% | -2.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.16% | 6.67% | -2.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.34% | 10.11% | -4.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.09% | 9.06% | -1.97% |
IBGS.L vs. GILS.L - Expense Ratio Comparison
IBGS.L has a 0.15% expense ratio, which is higher than GILS.L's 0.05% 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
IBGS.L vs. GILS.L - Dividend Comparison
IBGS.L's dividend yield for the trailing twelve months is around 2.18%, while GILS.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GILS.L Lyxor Core UK Government Bond (DR) UCITS ETF - Dist | 0.00% | 0.00% | 0.00% | 0.00% | 0.02% | 0.02% | 0.02% | 0.03% | 0.03% | 0.03% | 0.03% | 0.00% |
IBGS.L iShares Euro Government Bond 1-3yr UCITS ETF (Dist) | 2.18% | 2.39% | 2.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.04% | 0.28% |
Frequently Asked Questions
IBGS.L and GILS.L have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GILS.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GILS.L is cheaper with a 0.05% expense ratio, compared with 0.15% for IBGS.L.
IBGS.L tracks Bloomberg Euro Agg Govt 1-3 Yr TR EUR, while GILS.L tracks FTSE Actuaries UK Conventional Gilts All Stocks. They also come from different issuers: iShares and Lyxor. Their fees differ too: 0.15% for IBGS.L and 0.05% for GILS.L.
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