IBTG.L vs. IGLN.L
IBTG.L (iShares $ Treasury Bond 1-3yr UCITS ETF GBP Hedged (Dist)) and IGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - IBTG.L is a Government Bonds fund tracking the iShares $ Treasury Bond 1-3yr UCITS ETF GBP Hedged (Dist), while IGLN.L is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 5 years, IBTG.L returned 1.54%/yr vs 17.70%/yr for IGLN.L. At a 0.12 correlation, their price movements are largely independent. IBTG.L charges 0.10%/yr vs 0.12%/yr for IGLN.L.
Performance
IBTG.L vs. IGLN.L - Performance Comparison
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Different Trading Currencies
IBTG.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, IBTG.L achieves a 0.68% return, which is significantly higher than IGLN.L's -6.52% return.
IBTG.L
- 1D
- 0.08%
- 1M
- 0.08%
- 6M
- 0.68%
- YTD
- 0.68%
- 1Y
- 3.11%
- 3Y*
- 4.05%
- 5Y*
- 1.54%
- 10Y*
- —
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%
IBTG.L vs. IGLN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IBTG.L iShares $ Treasury Bond 1-3yr UCITS ETF GBP Hedged (Dist) | 0.68% | 5.08% | 3.75% | 3.65% | -4.56% | -0.82% | 2.70% | 1.75% | 0.38% |
IGLN.L iShares Physical Gold ETC | -6.52% | 53.18% | 28.34% | 7.77% | 11.79% | -3.12% | 20.51% | 13.80% | 6.40% |
Correlation
The correlation between IBTG.L and IGLN.L is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Apr 10, 2018 | 0.12 |
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Return for Risk
IBTG.L vs. IGLN.L — Risk / Return Rank
IBTG.L
IGLN.L
IBTG.L vs. IGLN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ Treasury Bond 1-3yr UCITS ETF GBP Hedged (Dist) (IBTG.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.
| IBTG.L | IGLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.01 | ||
| Sortino ratioReturn per unit of downside risk | +1.72 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 1.16 | +0.41 |
| Calmar ratioReturn relative to maximum drawdown | 4.62 | 0.83 | +3.80 |
| Martin ratioReturn relative to average drawdown | 14.41 | 2.06 | +12.35 |
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Drawdowns
IBTG.L vs. IGLN.L - Drawdown Comparison
The maximum IBTG.L drawdown since its inception was -6.15%, smaller than the maximum IGLN.L drawdown of -41.67%. Use the drawdown chart below to compare losses from any high point for IBTG.L and IGLN.L.
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Drawdown Indicators
| IBTG.L | IGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.15% | -41.67% | +35.52% |
Max Drawdown (1Y)Largest decline over 1 year | -0.67% | -24.35% | +23.68% |
Max Drawdown (3Y)Largest decline over 3 years | -0.85% | -24.35% | +23.50% |
Max Drawdown (5Y)Largest decline over 5 years | -6.13% | -24.35% | +18.22% |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.35% | — |
Current DrawdownCurrent decline from peak | 0.00% | -24.35% | +24.35% |
Average DrawdownAverage peak-to-trough decline | -1.25% | -14.79% | +13.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.22% | 9.75% | -9.53% |
Volatility
IBTG.L vs. IGLN.L - Volatility Comparison
The current volatility for iShares $ Treasury Bond 1-3yr UCITS ETF GBP Hedged (Dist) (IBTG.L) is 0.45%, while iShares Physical Gold ETC (IGLN.L) has a volatility of 7.51%. This indicates that IBTG.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
| IBTG.L | IGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.45% | 7.51% | -7.06% |
Volatility (6M)Calculated over the trailing 6-month period | 1.14% | 22.51% | -21.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.73% | 25.62% | -23.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.43% | 17.25% | -14.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.07% | 15.78% | -13.71% |
IBTG.L vs. IGLN.L - Expense Ratio Comparison
IBTG.L has a 0.10% expense ratio, which is lower than IGLN.L's 0.12% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IBTG.L vs. IGLN.L - Dividend Comparison
IBTG.L's dividend yield for the trailing twelve months is around 3.87%, while IGLN.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IBTG.L iShares $ Treasury Bond 1-3yr UCITS ETF GBP Hedged (Dist) | 3.87% | 4.08% | 4.12% | 2.92% | 0.76% | 0.59% | 1.66% | 2.35% | 0.78% |
IGLN.L iShares Physical Gold ETC | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBTG.L and IGLN.L have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTG.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTG.L is cheaper with a 0.10% expense ratio, compared with 0.12% for IGLN.L.
IBTG.L is categorized as Government Bonds, while IGLN.L is Gold. IBTG.L tracks iShares $ Treasury Bond 1-3yr UCITS ETF GBP Hedged (Dist), while IGLN.L tracks LBMA Gold Price. Their fees differ too: 0.10% for IBTG.L and 0.12% for IGLN.L.
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