IBTU.L vs. IGLN.L
IBTU.L (iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist)) and IGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - IBTU.L is a Government Bonds fund tracking the ICE U.S. Treasury Short Bond Index, while IGLN.L is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 5 years, IBTU.L returned 3.38%/yr vs 18.61%/yr for IGLN.L. At a 0.08 correlation, their price movements are largely independent. IBTU.L charges 0.07%/yr vs 0.25%/yr for IGLN.L.
Performance
IBTU.L vs. IGLN.L - Performance Comparison
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Returns By Period
In the year-to-date period, IBTU.L achieves a 1.39% return, which is significantly lower than IGLN.L's 3.70% return.
IBTU.L
- 1D
- 0.01%
- 1M
- 0.28%
- YTD
- 1.39%
- 6M
- 1.77%
- 1Y
- 3.95%
- 3Y*
- 4.74%
- 5Y*
- 3.38%
- 10Y*
- —
IGLN.L
- 1D
- 0.68%
- 1M
- -4.75%
- YTD
- 3.70%
- 6M
- 6.00%
- 1Y
- 33.05%
- 3Y*
- 31.55%
- 5Y*
- 18.61%
- 10Y*
- 13.42%
IBTU.L vs. IGLN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 1.39% | 4.36% | 5.23% | 4.96% | 1.09% | -0.01% | 0.96% | 1.94% |
IGLN.L iShares Physical Gold ETC | 3.70% | 64.92% | 26.14% | 13.44% | -0.09% | -4.03% | 24.16% | 14.16% |
Correlation
The correlation between IBTU.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 | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2019 | 0.08 |
The correlation between IBTU.L and IGLN.L shifts across timeframes, from -0.09 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IBTU.L vs. IGLN.L — Risk / Return Rank
IBTU.L
IGLN.L
IBTU.L vs. IGLN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.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.
| IBTU.L | IGLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +6.82 | ||
| Sortino ratioReturn per unit of downside risk | +15.52 | ||
| Omega ratioGain probability vs. loss probability | 3.95 | 1.25 | +2.70 |
| Calmar ratioReturn relative to maximum drawdown | 24.79 | 1.86 | +22.93 |
| Martin ratioReturn relative to average drawdown | 183.92 | 4.79 | +179.13 |
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
| IBTU.L | IGLN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 8.12 | 1.30 | +6.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 6.79 | 1.07 | +5.72 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.86 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 5.05 | 0.46 | +4.60 |
Drawdowns
IBTU.L vs. IGLN.L - Drawdown Comparison
The maximum IBTU.L drawdown since its inception was -0.62%, smaller than the maximum IGLN.L drawdown of -45.24%. Use the drawdown chart below to compare losses from any high point for IBTU.L and IGLN.L.
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Drawdown Indicators
| IBTU.L | IGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.62% | -45.24% | +44.62% |
Max Drawdown (1Y)Largest decline over 1 year | -0.16% | -17.36% | +17.20% |
Max Drawdown (3Y)Largest decline over 3 years | -0.16% | -17.36% | +17.20% |
Max Drawdown (5Y)Largest decline over 5 years | -0.29% | -21.15% | +20.86% |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.15% | — |
Current DrawdownCurrent decline from peak | 0.00% | -15.66% | +15.66% |
Average DrawdownAverage peak-to-trough decline | -0.03% | -19.80% | +19.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 6.74% | -6.72% |
Volatility
IBTU.L vs. IGLN.L - Volatility Comparison
The current volatility for iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.L) is 0.08%, while iShares Physical Gold ETC (IGLN.L) has a volatility of 6.36%. This indicates that IBTU.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
| IBTU.L | IGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.08% | 6.36% | -6.28% |
Volatility (6M)Calculated over the trailing 6-month period | 0.31% | 21.73% | -21.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.49% | 24.78% | -24.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.50% | 17.36% | -16.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.54% | 15.54% | -15.00% |
IBTU.L vs. IGLN.L - Expense Ratio Comparison
IBTU.L has a 0.07% expense ratio, which is lower than IGLN.L's 0.25% 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
IBTU.L vs. IGLN.L - Dividend Comparison
IBTU.L's dividend yield for the trailing twelve months is around 4.07%, while IGLN.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 4.07% | 4.43% | 6.82% | 3.99% | 0.44% | 0.10% | 1.28% | 1.21% |
IGLN.L iShares Physical Gold ETC | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBTU.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, IBTU.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTU.L is cheaper with a 0.07% expense ratio, compared with 0.25% for IGLN.L.
IBTU.L is categorized as Government Bonds, while IGLN.L is Gold. IBTU.L tracks ICE U.S. Treasury Short Bond Index, while IGLN.L tracks LBMA Gold Price. Their fees differ too: 0.07% for IBTU.L and 0.25% for IGLN.L.
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