IEAH.L vs. GOVD.L
IEAH.L (iShares Core € Corp Bond UCITS ETF GBP Hedged (Dist)) and GOVD.L (Lyxor Core Global Government Bond (DR) UCITS ETF - Dist) are both Global Bonds funds - IEAH.L tracks the iShares Core € Corp Bond UCITS ETF GBP Hedged (Dist) while GOVD.L tracks the Bloomberg Global Aggregate TR USD. Both are passively managed. Over the past 5 years, IEAH.L returned 0.94%/yr vs -3.00%/yr for GOVD.L. At a 0.32 correlation, their price movements are largely independent. IEAH.L charges 0.25%/yr vs 0.09%/yr for GOVD.L.
Performance
IEAH.L vs. GOVD.L - Performance Comparison
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Returns By Period
In the year-to-date period, IEAH.L achieves a -0.36% return, which is significantly higher than GOVD.L's -2.04% return.
IEAH.L
- 1D
- -0.17%
- 1M
- -0.36%
- 6M
- -0.75%
- YTD
- -0.36%
- 1Y
- 1.69%
- 3Y*
- 5.52%
- 5Y*
- 0.94%
- 10Y*
- —
GOVD.L
- 1D
- -0.52%
- 1M
- -1.37%
- 6M
- -1.87%
- YTD
- -2.04%
- 1Y
- -0.76%
- 3Y*
- 0.17%
- 5Y*
- -3.00%
- 10Y*
- —
IEAH.L vs. GOVD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IEAH.L iShares Core € Corp Bond UCITS ETF GBP Hedged (Dist) | -0.36% | 5.19% | 5.53% | 8.98% | -12.43% | -0.56% | 4.46% |
GOVD.L Lyxor Core Global Government Bond (DR) UCITS ETF - Dist | -2.04% | -0.20% | -1.78% | -1.14% | -8.48% | -5.98% | -22.93% |
Correlation
The correlation between IEAH.L and GOVD.L is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Jun 24, 2020 | 0.32 |
The correlation between IEAH.L and GOVD.L shifts across timeframes, from 0.20 (1 year) to 0.34 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
IEAH.L vs. GOVD.L — Risk / Return Rank
IEAH.L
GOVD.L
IEAH.L vs. GOVD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core € Corp Bond UCITS ETF GBP Hedged (Dist) (IEAH.L) and Lyxor Core Global Government Bond (DR) UCITS ETF - Dist (GOVD.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.
| IEAH.L | GOVD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.32 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.48 | -0.03 | +0.51 |
| Martin ratioReturn relative to average drawdown | 1.50 | -0.03 | +1.53 |
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Drawdowns
IEAH.L vs. GOVD.L - Drawdown Comparison
The maximum IEAH.L drawdown since its inception was -16.50%, smaller than the maximum GOVD.L drawdown of -38.07%. Use the drawdown chart below to compare losses from any high point for IEAH.L and GOVD.L.
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Drawdown Indicators
| IEAH.L | GOVD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.50% | -38.07% | +21.57% |
Max Drawdown (1Y)Largest decline over 1 year | -3.10% | -27.42% | +24.32% |
Max Drawdown (3Y)Largest decline over 3 years | -3.10% | -27.42% | +24.32% |
Max Drawdown (5Y)Largest decline over 5 years | -16.50% | -27.42% | +10.92% |
Current DrawdownCurrent decline from peak | -0.75% | -37.04% | +36.29% |
Average DrawdownAverage peak-to-trough decline | -3.60% | -32.00% | +28.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.00% | 22.98% | -21.98% |
Volatility
IEAH.L vs. GOVD.L - Volatility Comparison
The current volatility for iShares Core € Corp Bond UCITS ETF GBP Hedged (Dist) (IEAH.L) is 0.73%, while Lyxor Core Global Government Bond (DR) UCITS ETF - Dist (GOVD.L) has a volatility of 41.47%. This indicates that IEAH.L experiences smaller price fluctuations and is considered to be less risky than GOVD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEAH.L | GOVD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.73% | 41.47% | -40.74% |
Volatility (6M)Calculated over the trailing 6-month period | 2.94% | 120.69% | -117.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.65% | 149.55% | -145.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.69% | 67.46% | -62.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.02% | 61.82% | -56.80% |
IEAH.L vs. GOVD.L - Expense Ratio Comparison
IEAH.L has a 0.25% expense ratio, which is higher than GOVD.L's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IEAH.L vs. GOVD.L - Dividend Comparison
IEAH.L's dividend yield for the trailing twelve months is around 3.27%, more than GOVD.L's 2.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
GOVD.L Lyxor Core Global Government Bond (DR) UCITS ETF - Dist | 2.74% | 2.68% | 2.45% | 1.64% | 1.28% | 1.23% | 0.48% | 0.00% | 0.00% |
IEAH.L iShares Core € Corp Bond UCITS ETF GBP Hedged (Dist) | 3.27% | 3.23% | 3.27% | 2.42% | 0.77% | 0.75% | 0.78% | 1.04% | 0.31% |
Frequently Asked Questions
IEAH.L and GOVD.L have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GOVD.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GOVD.L is cheaper with a 0.09% expense ratio, compared with 0.25% for IEAH.L.
IEAH.L tracks iShares Core € Corp Bond UCITS ETF GBP Hedged (Dist), while GOVD.L tracks Bloomberg Global Aggregate TR USD. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.25% for IEAH.L and 0.09% for GOVD.L.
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