IBGY.L vs. GILS.L
IBGY.L (iShares € Govt Bond 5-7yr UCITS ETF EUR (Dist)) and GILS.L (Lyxor Core UK Government Bond (DR) UCITS ETF - Dist) are both European Government Bonds funds - IBGY.L tracks the BBG Euro Government Bond 5-7 Year Term Index while GILS.L tracks the FTSE Actuaries UK Conventional Gilts All Stocks. Both are passively managed. Over the past 10 years, IBGY.L returned -0.02%/yr vs -1.37%/yr for GILS.L. At a 0.39 correlation, their price movements are largely independent. IBGY.L charges 0.15%/yr vs 0.05%/yr for GILS.L.
Performance
IBGY.L vs. GILS.L - Performance Comparison
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Different Trading Currencies
IBGY.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, IBGY.L achieves a -4.44% return, which is significantly lower than GILS.L's -0.92% return. Over the past 10 years, IBGY.L has outperformed GILS.L with an annualized return of -0.02%, while GILS.L has yielded a comparatively lower -1.37% annualized return.
IBGY.L
- 1D
- -0.78%
- 1M
- -2.84%
- 6M
- -2.70%
- YTD
- -4.44%
- 1Y
- -2.77%
- 3Y*
- 2.31%
- 5Y*
- -1.77%
- 10Y*
- -0.02%
GILS.L
- 1D
- 0.14%
- 1M
- -1.01%
- 6M
- -1.65%
- YTD
- -0.92%
- 1Y
- 2.65%
- 3Y*
- 2.49%
- 5Y*
- -4.70%
- 10Y*
- -1.37%
IBGY.L vs. GILS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBGY.L iShares € Govt Bond 5-7yr UCITS ETF EUR (Dist) | -4.44% | 7.76% | -2.63% | 4.85% | -10.06% | -8.35% | 8.45% | -0.79% | 1.40% | 3.93% |
GILS.L Lyxor Core UK Government Bond (DR) UCITS ETF - Dist | -0.92% | 4.90% | -3.33% | 3.69% | -23.92% | -5.15% | 8.11% | 6.67% | 0.55% | 1.74% |
Correlation
The correlation between IBGY.L and GILS.L is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2010 | 0.39 |
The correlation between IBGY.L and GILS.L shifts across timeframes, from 0.39 (all time) to 0.58 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
IBGY.L vs. GILS.L — Risk / Return Rank
IBGY.L
GILS.L
IBGY.L vs. GILS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares € Govt Bond 5-7yr UCITS ETF EUR (Dist) (IBGY.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.
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.
| IBGY.L | GILS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.96 | ||
| Sortino ratioReturn per unit of downside risk | -1.32 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.08 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | 0.49 | -0.96 |
| Martin ratioReturn relative to average drawdown | -1.04 | 1.19 | -2.23 |
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Drawdowns
IBGY.L vs. GILS.L - Drawdown Comparison
The maximum IBGY.L drawdown since its inception was -22.02%, smaller than the maximum GILS.L drawdown of -35.61%. Use the drawdown chart below to compare losses from any high point for IBGY.L and GILS.L.
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Drawdown Indicators
| IBGY.L | GILS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.02% | -35.61% | +13.59% |
Max Drawdown (1Y)Largest decline over 1 year | -5.89% | -5.42% | -0.47% |
Max Drawdown (3Y)Largest decline over 3 years | -5.89% | -6.96% | +1.07% |
Max Drawdown (5Y)Largest decline over 5 years | -16.81% | -33.38% | +16.57% |
Max Drawdown (10Y)Largest decline over 10 years | -22.02% | -35.61% | +13.59% |
Current DrawdownCurrent decline from peak | -15.22% | -26.23% | +11.01% |
Average DrawdownAverage peak-to-trough decline | -10.11% | -10.02% | -0.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.70% | 2.22% | +0.48% |
Volatility
IBGY.L vs. GILS.L - Volatility Comparison
The current volatility for iShares € Govt Bond 5-7yr UCITS ETF EUR (Dist) (IBGY.L) is 1.44%, while Lyxor Core UK Government Bond (DR) UCITS ETF - Dist (GILS.L) has a volatility of 1.77%. This indicates that IBGY.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
| IBGY.L | GILS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.44% | 1.77% | -0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 4.41% | 4.99% | -0.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.35% | 6.03% | -0.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.83% | 9.87% | -3.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.51% | 8.76% | -1.25% |
IBGY.L vs. GILS.L - Expense Ratio Comparison
IBGY.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
IBGY.L vs. GILS.L - Dividend Comparison
IBGY.L has not paid dividends to shareholders, while GILS.L's dividend yield for the trailing twelve months is around 3.15%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GILS.L Lyxor Core UK Government Bond (DR) UCITS ETF - Dist | 3.15% | 3.13% | 2.67% | 2.06% | 2.41% | 1.87% | 2.05% | 2.50% | 2.73% | 2.80% | 2.62% | 0.00% |
IBGY.L iShares € Govt Bond 5-7yr UCITS ETF EUR (Dist) | 0.00% | 2.60% | 2.59% | 0.84% | 0.00% | 0.00% | 0.13% | 0.51% | 0.34% | 0.22% | 0.48% | 0.35% |
Frequently Asked Questions
IBGY.L and GILS.L have a correlation of 0.50, 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 IBGY.L.
IBGY.L tracks BBG Euro Government Bond 5-7 Year Term Index, 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 IBGY.L and 0.05% for GILS.L.
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