IBGX.L vs. IGL5.L
IBGX.L (iShares € Govt Bond 3-5yr UCITS ETF EUR (Dist)) and IGL5.L (iShares UK Gilts 0-5yr UCITS ETF GBP (Acc)) are both European Government Bonds funds from iShares - IBGX.L tracks the BBG EU Term 3-5 Year Index 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, IBGX.L returned 2.42%/yr vs 4.52%/yr for IGL5.L. At a 0.38 correlation, their price movements are largely independent. IBGX.L charges 0.15%/yr vs 0.07%/yr for IGL5.L.
Performance
IBGX.L vs. IGL5.L - Performance Comparison
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Returns By Period
In the year-to-date period, IBGX.L achieves a -3.15% return, which is significantly lower than IGL5.L's 1.26% return.
IBGX.L
- 1D
- -0.03%
- 1M
- -2.38%
- 6M
- -2.71%
- YTD
- -3.15%
- 1Y
- -2.04%
- 3Y*
- 2.42%
- 5Y*
- -0.64%
- 10Y*
- 0.29%
IGL5.L
- 1D
- -0.18%
- 1M
- 0.00%
- 6M
- 0.53%
- YTD
- 1.26%
- 1Y
- 2.73%
- 3Y*
- 4.52%
- 5Y*
- —
- 10Y*
- —
IBGX.L vs. IGL5.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IBGX.L iShares € Govt Bond 3-5yr UCITS ETF EUR (Dist) | -3.15% | 7.79% | -2.42% | 3.94% |
IGL5.L iShares UK Gilts 0-5yr UCITS ETF GBP (Acc) | 1.26% | 4.50% | 2.70% | 4.01% |
Correlation
The correlation between IBGX.L and IGL5.L is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since May 23, 2023 | 0.38 |
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Return for Risk
IBGX.L vs. IGL5.L — Risk / Return Rank
IBGX.L
IGL5.L
IBGX.L vs. IGL5.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 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.
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 | IGL5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.48 | ||
| Sortino ratioReturn per unit of downside risk | -2.12 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.22 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.43 | 1.40 | -1.83 |
| Martin ratioReturn relative to average drawdown | -1.04 | 4.69 | -5.73 |
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Drawdowns
IBGX.L vs. IGL5.L - Drawdown Comparison
The maximum IBGX.L drawdown since its inception was -25.93%, which is greater than IGL5.L's maximum drawdown of -2.00%. Use the drawdown chart below to compare losses from any high point for IBGX.L and IGL5.L.
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Drawdown Indicators
| IBGX.L | IGL5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.93% | -2.00% | -23.93% |
Max Drawdown (1Y)Largest decline over 1 year | -4.77% | -1.94% | -2.83% |
Max Drawdown (3Y)Largest decline over 3 years | -4.77% | -1.94% | -2.83% |
Max Drawdown (5Y)Largest decline over 5 years | -12.06% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -18.07% | — | — |
Current DrawdownCurrent decline from peak | -10.71% | -0.53% | -10.18% |
Average DrawdownAverage peak-to-trough decline | -8.61% | -0.31% | -8.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.96% | 0.58% | +1.38% |
Volatility
IBGX.L vs. IGL5.L - Volatility Comparison
iShares € Govt Bond 3-5yr UCITS ETF EUR (Dist) (IBGX.L) has a higher volatility of 1.17% compared to iShares UK Gilts 0-5yr UCITS ETF GBP (Acc) (IGL5.L) at 0.75%. This indicates that IBGX.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
| IBGX.L | IGL5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 0.75% | +0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 3.47% | 2.17% | +1.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.50% | 2.64% | +1.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.83% | 2.57% | +3.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.94% | 2.57% | +4.37% |
IBGX.L vs. IGL5.L - Expense Ratio Comparison
IBGX.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
IBGX.L vs. IGL5.L - Dividend Comparison
IBGX.L's dividend yield for the trailing twelve months is around 2.51%, while IGL5.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBGX.L iShares € Govt Bond 3-5yr UCITS ETF EUR (Dist) | 2.51% | 2.47% | 2.65% | 0.80% | 0.00% | 0.00% | 0.00% | 0.00% | 0.12% | 0.08% | 0.12% | 0.60% |
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
IBGX.L and IGL5.L have a correlation of 0.33, 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 IBGX.L.
IBGX.L tracks BBG EU Term 3-5 Year Index, while IGL5.L tracks FTSE Actuaries UK Conventional Gilts up to 5 Years Index (GBP). Their fees differ too: 0.15% for IBGX.L and 0.07% for IGL5.L.
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