IGAA.L vs. IGLN.L
IGAA.L (iShares Emerging Asia Local Govt Bond UCITS ETF USD (Acc)) and IGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - IGAA.L is a Government Bonds fund tracking the iShares Emerging Asia Local Govt Bond UCITS ETF USD (Acc), while IGLN.L is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 5 years, IGAA.L returned -0.18%/yr vs 17.30%/yr for IGLN.L. At a 0.33 correlation, their price movements are largely independent. IGAA.L charges 0.50%/yr vs 0.12%/yr for IGLN.L.
Performance
IGAA.L vs. IGLN.L - Performance Comparison
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Returns By Period
In the year-to-date period, IGAA.L achieves a -4.55% return, which is significantly higher than IGLN.L's -6.13% return.
IGAA.L
- 1D
- -0.35%
- 1M
- -0.87%
- 6M
- -4.22%
- YTD
- -4.55%
- 1Y
- -5.18%
- 3Y*
- 1.27%
- 5Y*
- -0.18%
- 10Y*
- —
IGLN.L
- 1D
- -0.82%
- 1M
- -7.02%
- 6M
- -12.44%
- YTD
- -6.13%
- 1Y
- 21.47%
- 3Y*
- 27.22%
- 5Y*
- 17.30%
- 10Y*
- 11.58%
IGAA.L vs. IGLN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IGAA.L iShares Emerging Asia Local Govt Bond UCITS ETF USD (Acc) | -4.55% | 5.88% | 1.45% | 4.93% | -8.03% | -4.34% | 9.11% | 9.15% | -0.00% |
IGLN.L iShares Physical Gold ETC | -6.13% | 64.93% | 26.14% | 13.44% | -0.09% | -4.03% | 24.16% | 18.30% | -1.56% |
Correlation
The correlation between IGAA.L and IGLN.L is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since May 31, 2018 | 0.33 |
The correlation between IGAA.L and IGLN.L shifts across timeframes, from 0.33 (all time) to 0.45 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IGAA.L vs. IGLN.L — Risk / Return Rank
IGAA.L
IGLN.L
IGAA.L vs. IGLN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Emerging Asia Local Govt Bond UCITS ETF USD (Acc) (IGAA.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.
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.
| IGAA.L | IGLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.73 | ||
| Sortino ratioReturn per unit of downside risk | -2.47 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.16 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 0.88 | -1.65 |
| Martin ratioReturn relative to average drawdown | -1.62 | 2.15 | -3.77 |
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Drawdowns
IGAA.L vs. IGLN.L - Drawdown Comparison
The maximum IGAA.L drawdown since its inception was -21.59%, smaller than the maximum IGLN.L drawdown of -45.25%. Use the drawdown chart below to compare losses from any high point for IGAA.L and IGLN.L.
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Drawdown Indicators
| IGAA.L | IGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.59% | -45.25% | +23.66% |
Max Drawdown (1Y)Largest decline over 1 year | -6.63% | -24.39% | +17.76% |
Max Drawdown (3Y)Largest decline over 3 years | -7.68% | -24.39% | +16.71% |
Max Drawdown (5Y)Largest decline over 5 years | -18.76% | -24.39% | +5.63% |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.39% | — |
Current DrawdownCurrent decline from peak | -5.97% | -23.66% | +17.69% |
Average DrawdownAverage peak-to-trough decline | -5.56% | -19.73% | +14.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.19% | 9.97% | -6.78% |
Volatility
IGAA.L vs. IGLN.L - Volatility Comparison
The current volatility for iShares Emerging Asia Local Govt Bond UCITS ETF USD (Acc) (IGAA.L) is 1.46%, while iShares Physical Gold ETC (IGLN.L) has a volatility of 7.59%. This indicates that IGAA.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
| IGAA.L | IGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.46% | 7.59% | -6.13% |
Volatility (6M)Calculated over the trailing 6-month period | 4.91% | 23.02% | -18.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.60% | 26.39% | -20.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.29% | 17.79% | -11.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.13% | 15.74% | -9.61% |
IGAA.L vs. IGLN.L - Expense Ratio Comparison
IGAA.L has a 0.50% expense ratio, which is higher than IGLN.L's 0.12% expense ratio.
Dividends
IGAA.L vs. IGLN.L - Dividend Comparison
Neither IGAA.L nor IGLN.L has paid dividends to shareholders.
Frequently Asked Questions
IGAA.L and IGLN.L have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGLN.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGLN.L is cheaper with a 0.12% expense ratio, compared with 0.50% for IGAA.L.
IGAA.L is categorized as Government Bonds, while IGLN.L is Gold. IGAA.L tracks iShares Emerging Asia Local Govt Bond UCITS ETF USD (Acc), while IGLN.L tracks LBMA Gold Price. Their fees differ too: 0.50% for IGAA.L and 0.12% for IGLN.L.
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