IBTM.L vs. IGLS.L
IBTM.L (iShares USD Treasury Bond 7-10yr UCITS ETF (Dist)) and IGLS.L (iShares UK Gilts 0-5yr UCITS ETF GBP (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 IGLS.L is a European Government Bonds fund tracking the FTSE Act UK Cnvt Gilts All Stocks TR GBP. Both are passively managed. Over the past 10 years, IBTM.L returned 1.18%/yr vs 0.91%/yr for IGLS.L. At a 0.47 correlation, their price movements are largely independent. Both charge a 0.07% expense ratio.
Performance
IBTM.L vs. IGLS.L - Performance Comparison
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Returns By Period
In the year-to-date period, IBTM.L achieves a -0.44% return, which is significantly lower than IGLS.L's 0.53% return. Over the past 10 years, IBTM.L has outperformed IGLS.L with an annualized return of 1.18%, while IGLS.L has yielded a comparatively lower 0.91% annualized return.
IBTM.L
- 1D
- -0.27%
- 1M
- 1.13%
- YTD
- -0.44%
- 6M
- -0.61%
- 1Y
- 4.98%
- 3Y*
- 0.81%
- 5Y*
- -0.07%
- 10Y*
- 1.18%
IGLS.L
- 1D
- 0.21%
- 1M
- 0.79%
- YTD
- 0.53%
- 6M
- 1.02%
- 1Y
- 2.97%
- 3Y*
- 4.62%
- 5Y*
- 1.36%
- 10Y*
- 0.91%
IBTM.L vs. IGLS.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) | -0.44% | 0.89% | 1.46% | -2.26% | -4.74% | -1.77% | 6.02% | 5.50% | 6.50% | -6.47% |
IGLS.L iShares UK Gilts 0-5yr UCITS ETF GBP (Dist) | 0.53% | 5.26% | 2.65% | 4.19% | -4.44% | -1.68% | 1.48% | 1.05% | 0.14% | -0.38% |
Correlation
The correlation between IBTM.L and IGLS.L is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Apr 17, 2009 | 0.47 |
Over the past year, the correlation between IBTM.L and IGLS.L has dropped to 0.11 - well below their long-term average of 0.47, suggesting their price drivers have been diverging.
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Return for Risk
IBTM.L vs. IGLS.L — Risk / Return Rank
IBTM.L
IGLS.L
IBTM.L vs. IGLS.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 UK Gilts 0-5yr UCITS ETF GBP (Dist) (IGLS.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.
| IBTM.L | IGLS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.70 | ||
| Sortino ratioReturn per unit of downside risk | -0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.29 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.89 | 1.52 | -0.63 |
| Martin ratioReturn relative to average drawdown | 2.08 | 5.12 | -3.04 |
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Drawdowns
IBTM.L vs. IGLS.L - Drawdown Comparison
The maximum IBTM.L drawdown since its inception was -52.39%, which is greater than IGLS.L's maximum drawdown of -9.54%. Use the drawdown chart below to compare losses from any high point for IBTM.L and IGLS.L.
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Drawdown Indicators
| IBTM.L | IGLS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.39% | -9.54% | -42.85% |
Max Drawdown (1Y)Largest decline over 1 year | -5.57% | -1.95% | -3.62% |
Max Drawdown (3Y)Largest decline over 3 years | -7.57% | -1.95% | -5.62% |
Max Drawdown (5Y)Largest decline over 5 years | -16.29% | -8.85% | -7.44% |
Max Drawdown (10Y)Largest decline over 10 years | -26.54% | -9.54% | -17.00% |
Current DrawdownCurrent decline from peak | -21.38% | -0.38% | -21.00% |
Average DrawdownAverage peak-to-trough decline | -20.63% | -1.19% | -19.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.38% | 0.58% | +1.80% |
Volatility
IBTM.L vs. IGLS.L - Volatility Comparison
iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) (IBTM.L) has a higher volatility of 1.55% compared to iShares UK Gilts 0-5yr UCITS ETF GBP (Dist) (IGLS.L) at 0.66%. This indicates that IBTM.L's price experiences larger fluctuations and is considered to be riskier than IGLS.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 | IGLS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.55% | 0.66% | +0.89% |
Volatility (6M)Calculated over the trailing 6-month period | 4.49% | 1.76% | +2.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.25% | 1.99% | +4.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.47% | 2.67% | +6.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.58% | 2.18% | +8.40% |
IBTM.L vs. IGLS.L - Expense Ratio Comparison
Both IBTM.L and IGLS.L have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IBTM.L vs. IGLS.L - Dividend Comparison
IBTM.L's dividend yield for the trailing twelve months is around 4.36%, more than IGLS.L's 3.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBTM.L iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) | 4.36% | 4.19% | 3.94% | 3.16% | 1.96% | 1.14% | 1.69% | 2.53% | 2.34% | 2.02% | 1.79% | 1.97% |
IGLS.L iShares UK Gilts 0-5yr UCITS ETF GBP (Dist) | 3.97% | 3.88% | 3.67% | 1.62% | 0.30% | 0.25% | 0.53% | 0.46% | 0.33% | 0.53% | 0.88% | 0.48% |
Frequently Asked Questions
IBTM.L and IGLS.L have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.07% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
IBTM.L and IGLS.L have the same expense ratio: 0.07% per year.
IBTM.L is categorized as Government Bonds, while IGLS.L is European Government Bonds. IBTM.L tracks ICE U.S. Treasury 7-10 Year Bond Index, while IGLS.L tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP.
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