IBGX.L vs. IB01.L

Last updated Jul 16, 2026

IBGX.L (iShares € Govt Bond 3-5yr UCITS ETF EUR (Dist)) and IB01.L (iShares USD Treasury Bond 0-1yr UCITS ETF (Acc)) are both Government Bonds funds from iShares - IBGX.L tracks the iShares € Govt Bond 3-5yr UCITS ETF EUR (Dist) while IB01.L tracks the ICE U.S. Treasury Short Bond Index. Both are passively managed. Over the past 5 years, IBGX.L returned -0.65%/yr vs 3.84%/yr for IB01.L. At a 0.34 correlation, their price movements are largely independent. IBGX.L charges 0.20%/yr vs 0.07%/yr for IB01.L.

Performance

IBGX.L vs. IB01.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares € Govt Bond 3-5yr UCITS ETF EUR (Dist) (IBGX.L) and iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IBGX.L is traded in GBP, while IB01.L is traded in USD. To make them comparable, the IB01.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, IBGX.L achieves a -3.21% return, which is significantly lower than IB01.L's 2.36% return.

IBGX.L

• 1D: -0.10%
• 1M: -2.31%
• 6M: -2.73%
• YTD: -3.21%
• 1Y: -1.79%
• 3Y*: 2.39%
• 5Y*: -0.65%
• 10Y*: 0.28%

IB01.L

• 1D: 0.00%
• 1M: 0.31%
• 6M: 2.09%
• YTD: 2.36%
• 1Y: 3.75%
• 3Y*: 3.84%
• 5Y*: 3.84%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IBGX.L vs. IB01.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
IBGX.L iShares € Govt Bond 3-5yr UCITS ETF EUR (Dist)	-3.21%	7.79%	-2.42%	3.20%	-5.19%	-7.77%	6.63%	-0.65%
IB01.L iShares USD Treasury Bond 0-1yr UCITS ETF (Acc)	1.42%	-3.10%	7.09%	-0.32%	13.10%	0.08%	-2.08%	0.44%

Correlation

The correlation between IBGX.L and IB01.L is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.22
Correlation (All Time) Calculated using the full available price history since Feb 20, 2019	0.34

The correlation between IBGX.L and IB01.L shifts across timeframes, from 0.14 (1 year) to 0.34 (all time), reflecting how their relationship changes across market environments.

Return for Risk

IBGX.L vs. IB01.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IBGX.L

IBGX.L Risk / Return Rank: 5
IBGX.L Sharpe Ratio Rank: 5
IBGX.L Sortino Ratio Rank: 5
IBGX.L Omega Ratio Rank: 5
IBGX.L Calmar Ratio Rank: 5
IBGX.L Martin Ratio Rank: 4

IB01.L

IB01.L Risk / Return Rank: 100
IB01.L Sharpe Ratio Rank: 100
IB01.L Sortino Ratio Rank: 100
IB01.L Omega Ratio Rank: 99
IB01.L Calmar Ratio Rank: 100
IB01.L Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IBGX.L vs. IB01.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares € Govt Bond 3-5yr UCITS ETF EUR (Dist) (IBGX.L) and iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.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.

	IBGX.L	IB01.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.47	0.58	-1.04
Sortino ratio: Return per unit of downside risk	-0.63	0.87	-1.49
Omega ratio: Gain probability vs. loss probability	0.93	1.10	-0.17
Calmar ratio: Return relative to maximum drawdown	-0.43	0.72	-1.16
Martin ratio: Return relative to average drawdown	-1.07	1.98	-3.05

IBGX.L vs. IB01.L - Sharpe Ratio Comparison

The current IBGX.L Sharpe Ratio is -0.47, which is lower than the IB01.L Sharpe Ratio of 0.58. The chart below compares the historical Sharpe Ratios of IBGX.L and IB01.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IBGX.L vs. IB01.L - Drawdown Comparison

The maximum IBGX.L drawdown since its inception was -25.93%, which is greater than IB01.L's maximum drawdown of -19.26%. Use the drawdown chart below to compare losses from any high point for IBGX.L and IB01.L.

Drawdown Indicators

	IBGX.L	IB01.L	Difference
Max Drawdown Largest peak-to-trough decline	-25.93%	-19.26%	-6.67%
Max Drawdown (1Y) Largest decline over 1 year	-4.83%	-5.16%	+0.33%
Max Drawdown (3Y) Largest decline over 3 years	-4.83%	-9.81%	+4.98%
Max Drawdown (5Y) Largest decline over 5 years	-12.06%	-15.94%	+3.88%
Max Drawdown (10Y) Largest decline over 10 years	-18.07%	—	—
Current Drawdown Current decline from peak	-10.77%	-5.58%	-5.19%
Average Drawdown Average peak-to-trough decline	-8.61%	-9.40%	+0.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.96%	1.89%	+0.07%

Volatility

IBGX.L vs. IB01.L - Volatility Comparison

The current volatility for iShares € Govt Bond 3-5yr UCITS ETF EUR (Dist) (IBGX.L) is 1.17%, while iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.L) has a volatility of 1.74%. This indicates that IBGX.L experiences smaller price fluctuations and is considered to be less risky than IB01.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBGX.L	IB01.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.17%	1.74%	-0.57%
Volatility (6M) Calculated over the trailing 6-month period	3.48%	4.96%	-1.48%
Volatility (1Y) Calculated over the trailing 1-year period	4.50%	6.50%	-2.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.83%	8.45%	-2.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.94%	8.76%	-1.82%

IBGX.L vs. IB01.L - Expense Ratio Comparison

IBGX.L has a 0.20% expense ratio, which is higher than IB01.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

IBGX.L vs. IB01.L - Dividend Comparison

IBGX.L's dividend yield for the trailing twelve months is around 2.52%, while IB01.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IB01.L iShares USD Treasury Bond 0-1yr UCITS ETF (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%
IBGX.L iShares € Govt Bond 3-5yr UCITS ETF EUR (Dist)	2.52%	2.47%	2.65%	0.80%	0.00%	0.00%	0.00%	0.00%	0.12%	0.08%	0.12%	0.60%

Frequently Asked Questions

Can I hold both IBGX.L and IB01.L in my portfolio?

IBGX.L and IB01.L have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IBGX.L or IB01.L?

On fees, IB01.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBGX.L or IB01.L?

IB01.L is cheaper with a 0.07% expense ratio, compared with 0.20% for IBGX.L.

What is the main difference between IBGX.L and IB01.L?

IBGX.L tracks iShares € Govt Bond 3-5yr UCITS ETF EUR (Dist), while IB01.L tracks ICE U.S. Treasury Short Bond Index. Their fees differ too: 0.20% for IBGX.L and 0.07% for IB01.L.