IBGX.L vs. IGLN.L
IBGX.L (iShares € Govt Bond 3-5yr UCITS ETF EUR (Dist)) and IGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - IBGX.L is a Government Bonds fund tracking the iShares € Govt Bond 3-5yr UCITS ETF EUR (Dist), while IGLN.L is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, IBGX.L returned 0.28%/yr vs 11.29%/yr for IGLN.L. At a 0.33 correlation, their price movements are largely independent. IBGX.L charges 0.20%/yr vs 0.12%/yr for IGLN.L.
Performance
IBGX.L vs. IGLN.L - Performance Comparison
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Different Trading Currencies
IBGX.L is traded in GBP, while IGLN.L is traded in USD. To make them comparable, the IGLN.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 higher than IGLN.L's -6.52% return. Over the past 10 years, IBGX.L has underperformed IGLN.L with an annualized return of 0.28%, while IGLN.L has yielded a comparatively higher 11.29% annualized 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%
IGLN.L
- 1D
- -1.85%
- 1M
- -7.84%
- 6M
- -12.98%
- YTD
- -6.52%
- 1Y
- 20.18%
- 3Y*
- 25.84%
- 5Y*
- 17.70%
- 10Y*
- 11.29%
IBGX.L vs. IGLN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% | -3.37% | 1.55% | 4.03% |
IGLN.L iShares Physical Gold ETC | -6.52% | 53.18% | 28.34% | 7.77% | 11.79% | -3.12% | 20.51% | 13.80% | 4.52% | 2.03% |
Correlation
The correlation between IBGX.L and IGLN.L is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2011 | 0.33 |
The correlation between IBGX.L and IGLN.L shifts across timeframes, from 0.20 (3 years) to 0.35 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
IBGX.L vs. IGLN.L — Risk / Return Rank
IBGX.L
IGLN.L
IBGX.L vs. IGLN.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 Physical Gold ETC (IGLN.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 | IGLN.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 | 0.93 | 1.16 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.43 | 0.83 | -1.26 |
| Martin ratioReturn relative to average drawdown | -1.07 | 2.06 | -3.14 |
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Drawdowns
IBGX.L vs. IGLN.L - Drawdown Comparison
The maximum IBGX.L drawdown since its inception was -25.93%, smaller than the maximum IGLN.L drawdown of -41.67%. Use the drawdown chart below to compare losses from any high point for IBGX.L and IGLN.L.
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Drawdown Indicators
| IBGX.L | IGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.93% | -41.67% | +15.74% |
Max Drawdown (1Y)Largest decline over 1 year | -4.83% | -24.35% | +19.52% |
Max Drawdown (3Y)Largest decline over 3 years | -4.83% | -24.35% | +19.52% |
Max Drawdown (5Y)Largest decline over 5 years | -12.06% | -24.35% | +12.29% |
Max Drawdown (10Y)Largest decline over 10 years | -18.07% | -24.35% | +6.28% |
Current DrawdownCurrent decline from peak | -10.77% | -24.35% | +13.58% |
Average DrawdownAverage peak-to-trough decline | -8.61% | -14.79% | +6.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.96% | 9.75% | -7.79% |
Volatility
IBGX.L vs. IGLN.L - Volatility Comparison
The current volatility for iShares € Govt Bond 3-5yr UCITS ETF EUR (Dist) (IBGX.L) is 1.17%, while iShares Physical Gold ETC (IGLN.L) has a volatility of 7.51%. This indicates that IBGX.L experiences smaller price fluctuations and is considered to be less risky than IGLN.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 | IGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 7.51% | -6.34% |
Volatility (6M)Calculated over the trailing 6-month period | 3.48% | 22.51% | -19.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.50% | 25.62% | -21.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.83% | 17.25% | -11.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.94% | 15.78% | -8.84% |
IBGX.L vs. IGLN.L - Expense Ratio Comparison
IBGX.L has a 0.20% expense ratio, which is higher than IGLN.L's 0.12% 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. IGLN.L - Dividend Comparison
IBGX.L's dividend yield for the trailing twelve months is around 2.52%, while IGLN.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) | 2.52% | 2.47% | 2.65% | 0.80% | 0.00% | 0.00% | 0.00% | 0.00% | 0.12% | 0.08% | 0.12% | 0.60% |
IGLN.L iShares Physical Gold ETC | 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 IGLN.L have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGLN.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGLN.L is cheaper with a 0.12% expense ratio, compared with 0.20% for IBGX.L.
IBGX.L is categorized as Government Bonds, while IGLN.L is Gold. IBGX.L tracks iShares € Govt Bond 3-5yr UCITS ETF EUR (Dist), while IGLN.L tracks LBMA Gold Price. Their fees differ too: 0.20% for IBGX.L and 0.12% for IGLN.L.
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