ICBU.L vs. IGLN.L
ICBU.L (iShares USD Intermediate Credit Bond UCITS ETF) and IGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - ICBU.L is a Corporate Bonds fund tracking the Bloomberg US Corp Bond TR USD, while IGLN.L is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 5 years, ICBU.L returned 1.73%/yr vs 18.61%/yr for IGLN.L. At a 0.34 correlation, their price movements are largely independent. ICBU.L charges 0.15%/yr vs 0.25%/yr for IGLN.L.
Performance
ICBU.L vs. IGLN.L - Performance Comparison
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Returns By Period
In the year-to-date period, ICBU.L achieves a 0.45% return, which is significantly lower than IGLN.L's 3.70% return.
ICBU.L
- 1D
- 0.20%
- 1M
- 0.20%
- YTD
- 0.45%
- 6M
- 0.86%
- 1Y
- 4.93%
- 3Y*
- 5.47%
- 5Y*
- 1.73%
- 10Y*
- —
IGLN.L
- 1D
- 0.68%
- 1M
- -2.35%
- YTD
- 3.70%
- 6M
- 6.03%
- 1Y
- 32.37%
- 3Y*
- 31.55%
- 5Y*
- 18.61%
- 10Y*
- 13.42%
ICBU.L vs. IGLN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ICBU.L iShares USD Intermediate Credit Bond UCITS ETF | 0.45% | 7.60% | 4.08% | 6.74% | -9.04% | -1.35% | 6.50% | 9.92% | -0.45% | 1.36% |
IGLN.L iShares Physical Gold ETC | 3.70% | 64.92% | 26.14% | 13.44% | -0.09% | -4.03% | 24.16% | 18.28% | -1.31% | 2.35% |
Correlation
The correlation between ICBU.L and IGLN.L is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2017 | 0.34 |
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Return for Risk
ICBU.L vs. IGLN.L — Risk / Return Rank
ICBU.L
IGLN.L
ICBU.L vs. IGLN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Intermediate Credit Bond UCITS ETF (ICBU.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.
| ICBU.L | IGLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.32 | ||
| Sortino ratioReturn per unit of downside risk | +0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.25 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.29 | 1.86 | +0.44 |
| Martin ratioReturn relative to average drawdown | 8.55 | 4.79 | +3.76 |
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
| ICBU.L | IGLN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.62 | 1.30 | +0.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.40 | 1.07 | -0.67 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.86 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 0.46 | +0.16 |
Drawdowns
ICBU.L vs. IGLN.L - Drawdown Comparison
The maximum ICBU.L drawdown since its inception was -13.92%, smaller than the maximum IGLN.L drawdown of -45.24%. Use the drawdown chart below to compare losses from any high point for ICBU.L and IGLN.L.
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Drawdown Indicators
| ICBU.L | IGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.92% | -45.24% | +31.32% |
Max Drawdown (1Y)Largest decline over 1 year | -2.14% | -17.36% | +15.22% |
Max Drawdown (3Y)Largest decline over 3 years | -3.24% | -17.36% | +14.12% |
Max Drawdown (5Y)Largest decline over 5 years | -13.92% | -21.15% | +7.23% |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.15% | — |
Current DrawdownCurrent decline from peak | -0.67% | -15.66% | +14.99% |
Average DrawdownAverage peak-to-trough decline | -2.78% | -19.80% | +17.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.57% | 6.74% | -6.17% |
Volatility
ICBU.L vs. IGLN.L - Volatility Comparison
The current volatility for iShares USD Intermediate Credit Bond UCITS ETF (ICBU.L) is 1.35%, while iShares Physical Gold ETC (IGLN.L) has a volatility of 6.36%. This indicates that ICBU.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
| ICBU.L | IGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 6.36% | -5.01% |
Volatility (6M)Calculated over the trailing 6-month period | 2.46% | 21.73% | -19.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.03% | 24.78% | -21.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.31% | 17.36% | -13.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.42% | 15.54% | -11.12% |
ICBU.L vs. IGLN.L - Expense Ratio Comparison
ICBU.L has a 0.15% 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
ICBU.L vs. IGLN.L - Dividend Comparison
ICBU.L's dividend yield for the trailing twelve months is around 5.54%, while IGLN.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
ICBU.L iShares USD Intermediate Credit Bond UCITS ETF | 5.54% | 4.21% | 3.78% | 2.77% | 1.93% | 1.93% | 2.78% | 2.93% | 2.65% | 0.44% |
IGLN.L iShares Physical Gold ETC | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ICBU.L and IGLN.L have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ICBU.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ICBU.L is cheaper with a 0.15% expense ratio, compared with 0.25% for IGLN.L.
ICBU.L is categorized as Corporate Bonds, while IGLN.L is Gold. ICBU.L tracks Bloomberg US Corp Bond TR USD, while IGLN.L tracks LBMA Gold Price. Their fees differ too: 0.15% for ICBU.L and 0.25% for IGLN.L.
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