IEF vs. GBPUSD=X
IEF (iShares 7-10 Year Treasury Bond ETF) is Government Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index, while GBPUSD=X (GBP/USD) is a currency. Over the past 10 years, IEF returned 0.59%/yr vs -0.52%/yr for GBPUSD=X. At a 0.02 correlation, their price movements are largely independent.
Performance
IEF vs. GBPUSD=X - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both investments are quite close, with IEF having a -0.47% return and GBPUSD=X slightly higher at -0.45%. Over the past 10 years, IEF has outperformed GBPUSD=X with an annualized return of 0.59%, while GBPUSD=X has yielded a comparatively lower -0.52% annualized return.
IEF
- 1D
- -0.17%
- 1M
- 0.19%
- YTD
- -0.47%
- 6M
- -0.18%
- 1Y
- 3.39%
- 3Y*
- 2.86%
- 5Y*
- -1.24%
- 10Y*
- 0.59%
GBPUSD=X
- 1D
- -0.16%
- 1M
- -0.95%
- YTD
- -0.45%
- 6M
- 0.22%
- 1Y
- -1.60%
- 3Y*
- 2.03%
- 5Y*
- -1.04%
- 10Y*
- -0.52%
IEF vs. GBPUSD=X - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEF iShares 7-10 Year Treasury Bond ETF | -0.47% | 8.03% | -0.63% | 3.64% | -15.15% | -3.33% | 10.01% | 8.03% | 0.99% | 2.55% |
GBPUSD=X GBP/USD | -0.45% | 7.55% | -1.67% | 5.28% | -10.69% | -0.91% | 3.06% | 4.01% | -5.66% | 9.52% |
Correlation
The correlation between IEF and GBPUSD=X is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2007 | 0.02 |
Over the past year, IEF and GBPUSD=X have become more correlated (0.33) than their long-term average of 0.02, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IEF vs. GBPUSD=X — Risk / Return Rank
IEF
GBPUSD=X
IEF vs. GBPUSD=X - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 7-10 Year Treasury Bond ETF (IEF) and GBP/USD (GBPUSD=X). 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.
| IEF | GBPUSD=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.93 | ||
| Sortino ratioReturn per unit of downside risk | +1.36 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 0.97 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | -0.25 | +1.08 |
| Martin ratioReturn relative to average drawdown | 2.35 | -0.47 | +2.82 |
Loading charts...
Drawdowns
IEF vs. GBPUSD=X - Drawdown Comparison
The maximum IEF drawdown since its inception was -23.93%, smaller than the maximum GBPUSD=X drawdown of -49.29%. Use the drawdown chart below to compare losses from any high point for IEF and GBPUSD=X.
Loading charts...
Drawdown Indicators
| IEF | GBPUSD=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.93% | -49.29% | +25.36% |
Max Drawdown (1Y)Largest decline over 1 year | -4.07% | -5.26% | +1.19% |
Max Drawdown (3Y)Largest decline over 3 years | -7.74% | -9.34% | +1.60% |
Max Drawdown (5Y)Largest decline over 5 years | -21.40% | -24.23% | +2.83% |
Max Drawdown (10Y)Largest decline over 10 years | -23.93% | -27.99% | +4.06% |
Current DrawdownCurrent decline from peak | -11.18% | -36.44% | +25.26% |
Average DrawdownAverage peak-to-trough decline | -5.35% | -31.18% | +25.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.45% | 2.56% | -1.11% |
Volatility
IEF vs. GBPUSD=X - Volatility Comparison
iShares 7-10 Year Treasury Bond ETF (IEF) has a higher volatility of 1.62% compared to GBP/USD (GBPUSD=X) at 1.22%. This indicates that IEF's price experiences larger fluctuations and is considered to be riskier than GBPUSD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IEF | GBPUSD=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 1.22% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 3.42% | 4.96% | -1.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.72% | 6.25% | -1.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.71% | 8.24% | -0.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.63% | 9.09% | -2.46% |
Frequently Asked Questions
IEF and GBPUSD=X have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IEF has higher volatility (1.62%) compared to GBPUSD=X (1.22%). In terms of maximum drawdown, IEF dropped -23.93% vs GBPUSD=X's -49.29%.
IEF currently has the higher Sharpe Ratio (0.72 vs -0.21), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for IEF and GBPUSD=X
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer