IBTS.L vs. IAUP.L
IBTS.L (iShares $ Treasury Bond 1-3yr UCITS ETF) and IAUP.L (iShares Gold Producers UCITS ETF USD Acc) are both exchange-traded funds - IBTS.L is a Government Bonds fund tracking the ICE U.S. Treasury 1-3 Year Bond Index, while IAUP.L is a Gold fund tracking the S&P Commodity Producers Gold Index. Both are passively managed. Over the past 10 years, IBTS.L returned 2.47%/yr vs 13.75%/yr for IAUP.L. At a correlation of -0.10, they often move in opposite directions. IBTS.L charges 0.07%/yr vs 0.55%/yr for IAUP.L.
Performance
IBTS.L vs. IAUP.L - Performance Comparison
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Different Trading Currencies
IBTS.L is traded in GBP, while IAUP.L is traded in USD. To make them comparable, the IAUP.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, IBTS.L achieves a 1.16% return, which is significantly higher than IAUP.L's -5.05% return. Over the past 10 years, IBTS.L has underperformed IAUP.L with an annualized return of 2.47%, while IAUP.L has yielded a comparatively higher 13.75% annualized return.
IBTS.L
- 1D
- 0.26%
- 1M
- 1.96%
- YTD
- 1.16%
- 6M
- 0.62%
- 1Y
- 4.86%
- 3Y*
- 2.17%
- 5Y*
- 2.98%
- 10Y*
- 2.47%
IAUP.L
- 1D
- -0.86%
- 1M
- -12.49%
- YTD
- -5.05%
- 6M
- 0.41%
- 1Y
- 55.97%
- 3Y*
- 36.35%
- 5Y*
- 18.53%
- 10Y*
- 13.75%
IBTS.L vs. IAUP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBTS.L iShares $ Treasury Bond 1-3yr UCITS ETF | 1.16% | -1.91% | 5.79% | -1.41% | 7.61% | 0.64% | -0.34% | 0.37% | 7.22% | -8.60% |
IAUP.L iShares Gold Producers UCITS ETF USD Acc | -5.05% | 135.89% | 13.44% | 3.96% | -0.48% | -9.46% | 19.97% | 40.06% | -4.18% | -2.54% |
Correlation
The correlation between IBTS.L and IAUP.L is -0.32, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Sep 19, 2011 | -0.10 |
Over the past year, the inverse relationship between IBTS.L and IAUP.L has strengthened: their correlation has moved from -0.10 to -0.32, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
IBTS.L vs. IAUP.L — Risk / Return Rank
IBTS.L
IAUP.L
IBTS.L vs. IAUP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ Treasury Bond 1-3yr UCITS ETF (IBTS.L) and iShares Gold Producers UCITS ETF USD Acc (IAUP.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.
| IBTS.L | IAUP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.23 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.07 | 1.92 | -0.85 |
| Martin ratioReturn relative to average drawdown | 2.72 | 5.02 | -2.30 |
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
| IBTS.L | IAUP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.79 | 1.32 | -0.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | 0.56 | -0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | 0.41 | -0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.11 | +0.01 |
Drawdowns
IBTS.L vs. IAUP.L - Drawdown Comparison
The maximum IBTS.L drawdown since its inception was -45.91%, smaller than the maximum IAUP.L drawdown of -79.77%. Use the drawdown chart below to compare losses from any high point for IBTS.L and IAUP.L.
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Drawdown Indicators
| IBTS.L | IAUP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.91% | -79.77% | +33.86% |
Max Drawdown (1Y)Largest decline over 1 year | -4.51% | -28.98% | +24.47% |
Max Drawdown (3Y)Largest decline over 3 years | -8.89% | -28.98% | +20.09% |
Max Drawdown (5Y)Largest decline over 5 years | -16.29% | -34.46% | +18.17% |
Max Drawdown (10Y)Largest decline over 10 years | -19.02% | -43.97% | +24.95% |
Current DrawdownCurrent decline from peak | -7.04% | -28.98% | +21.94% |
Average DrawdownAverage peak-to-trough decline | -11.03% | -42.79% | +31.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.78% | 11.12% | -9.34% |
Volatility
IBTS.L vs. IAUP.L - Volatility Comparison
The current volatility for iShares $ Treasury Bond 1-3yr UCITS ETF (IBTS.L) is 1.67%, while iShares Gold Producers UCITS ETF USD Acc (IAUP.L) has a volatility of 13.61%. This indicates that IBTS.L experiences smaller price fluctuations and is considered to be less risky than IAUP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTS.L | IAUP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.67% | 13.61% | -11.94% |
Volatility (6M)Calculated over the trailing 6-month period | 4.37% | 34.14% | -29.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.10% | 42.37% | -36.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.09% | 33.01% | -24.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.24% | 33.42% | -24.18% |
IBTS.L vs. IAUP.L - Expense Ratio Comparison
IBTS.L has a 0.07% expense ratio, which is lower than IAUP.L's 0.55% expense ratio.
Dividends
IBTS.L vs. IAUP.L - Dividend Comparison
IBTS.L's dividend yield for the trailing twelve months is around 3.97%, while IAUP.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAUP.L iShares Gold Producers UCITS ETF USD Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IBTS.L iShares $ Treasury Bond 1-3yr UCITS ETF | 3.97% | 4.22% | 4.12% | 3.08% | 0.75% | 0.61% | 1.84% | 2.39% | 1.49% | 1.01% | 0.67% | 0.49% |
Frequently Asked Questions
IBTS.L and IAUP.L have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTS.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTS.L is cheaper with a 0.07% expense ratio, compared with 0.55% for IAUP.L.
IBTS.L is categorized as Government Bonds, while IAUP.L is Gold. IBTS.L tracks ICE U.S. Treasury 1-3 Year Bond Index, while IAUP.L tracks S&P Commodity Producers Gold Index. Their fees differ too: 0.07% for IBTS.L and 0.55% for IAUP.L.
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