IBTM.L vs. IBGM.L
IBTM.L (iShares USD Treasury Bond 7-10yr UCITS ETF (Dist)) and IBGM.L (iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist)) are both exchange-traded funds - IBTM.L is a Government Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index, while IBGM.L is a European Government Bonds fund tracking the Bloomberg Euro Agg Govt TR EUR. Both are passively managed. Over the past 10 years, IBTM.L returned 2.30%/yr vs 31.19%/yr for IBGM.L. A 0.51 correlation means they provide meaningful diversification when combined. IBTM.L charges 0.07%/yr vs 0.15%/yr for IBGM.L.
Performance
IBTM.L vs. IBGM.L - Performance Comparison
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Returns By Period
In the year-to-date period, IBTM.L achieves a -0.03% return, which is significantly higher than IBGM.L's -2.55% return. Over the past 10 years, IBTM.L has underperformed IBGM.L with an annualized return of 2.30%, while IBGM.L has yielded a comparatively higher 31.19% annualized return.
IBTM.L
- 1D
- 0.15%
- 1M
- 1.68%
- YTD
- -0.03%
- 6M
- -0.91%
- 1Y
- 6.38%
- 3Y*
- 1.26%
- 5Y*
- 0.99%
- 10Y*
- 2.30%
IBGM.L
- 1D
- -0.45%
- 1M
- -1.02%
- YTD
- -2.55%
- 6M
- -2.91%
- 1Y
- -0.23%
- 3Y*
- 1.60%
- 5Y*
- 39.44%
- 10Y*
- 31.19%
IBTM.L vs. IBGM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBTM.L iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) | -0.03% | 2.28% | 2.56% | -1.50% | -4.38% | -1.34% | 6.45% | 6.25% | 7.34% | -5.92% |
IBGM.L iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) | -2.55% | 5.38% | -3.53% | 465.78% | -3.14% | -9.55% | 20.87% | 117.65% | 2.05% | 4.56% |
Correlation
The correlation between IBTM.L and IBGM.L is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2007 | 0.51 |
The correlation between IBTM.L and IBGM.L shifts across timeframes, from 0.38 (1 year) to 0.64 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
IBTM.L vs. IBGM.L — Risk / Return Rank
IBTM.L
IBGM.L
IBTM.L vs. IBGM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) (IBTM.L) and iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBGM.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.
| IBTM.L | IBGM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.07 | ||
| Sortino ratioReturn per unit of downside risk | +1.61 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.00 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.17 | -0.04 | +1.20 |
| Martin ratioReturn relative to average drawdown | 2.86 | -0.08 | +2.94 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IBTM.L | IBGM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.03 | -0.04 | +1.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.10 | 0.20 | -0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | 0.22 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.21 | +0.36 |
Drawdowns
IBTM.L vs. IBGM.L - Drawdown Comparison
The maximum IBTM.L drawdown since its inception was -25.39%, roughly equal to the maximum IBGM.L drawdown of -26.66%. Use the drawdown chart below to compare losses from any high point for IBTM.L and IBGM.L.
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Drawdown Indicators
| IBTM.L | IBGM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.39% | -26.66% | +1.27% |
Max Drawdown (1Y)Largest decline over 1 year | -5.58% | -6.20% | +0.62% |
Max Drawdown (3Y)Largest decline over 3 years | -6.93% | -6.85% | -0.08% |
Max Drawdown (5Y)Largest decline over 5 years | -15.83% | -21.27% | +5.44% |
Max Drawdown (10Y)Largest decline over 10 years | -25.39% | -26.66% | +1.27% |
Current DrawdownCurrent decline from peak | -17.49% | -5.70% | -11.79% |
Average DrawdownAverage peak-to-trough decline | -10.52% | -4.98% | -5.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.28% | 2.82% | -0.54% |
Volatility
IBTM.L vs. IBGM.L - Volatility Comparison
The current volatility for iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) (IBTM.L) is 1.86%, while iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBGM.L) has a volatility of 2.59%. This indicates that IBTM.L experiences smaller price fluctuations and is considered to be less risky than IBGM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTM.L | IBGM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.86% | 2.59% | -0.73% |
Volatility (6M)Calculated over the trailing 6-month period | 4.69% | 4.93% | -0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.35% | 6.31% | +0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.51% | 193.47% | -183.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.63% | 138.66% | -128.03% |
IBTM.L vs. IBGM.L - Expense Ratio Comparison
IBTM.L has a 0.07% expense ratio, which is lower than IBGM.L's 0.15% 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
IBTM.L vs. IBGM.L - Dividend Comparison
IBTM.L's dividend yield for the trailing twelve months is around 5.82%, while IBGM.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBGM.L iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) | 0.00% | 1.33% | 2.78% | 79.03% | 13.18% | 0.00% | 8.74% | 63.75% | 0.74% | 0.74% | 0.77% | 1.07% |
IBTM.L iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) | 5.82% | 5.55% | 5.00% | 3.93% | 2.34% | 1.57% | 2.13% | 3.25% | 3.07% | 2.64% | 2.40% | 3.01% |
Frequently Asked Questions
IBTM.L and IBGM.L have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTM.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTM.L is cheaper with a 0.07% expense ratio, compared with 0.15% for IBGM.L.
IBTM.L is categorized as Government Bonds, while IBGM.L is European Government Bonds. IBTM.L tracks ICE U.S. Treasury 7-10 Year Bond Index, while IBGM.L tracks Bloomberg Euro Agg Govt TR EUR. Their fees differ too: 0.07% for IBTM.L and 0.15% for IBGM.L.
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