IGAA.L vs. USFR.L
IGAA.L (iShares Emerging Asia Local Govt Bond UCITS ETF USD (Acc)) and USFR.L (WisdomTree USD Floating Rate Treasury Bond UCITS ETF USD) are both Government Bonds funds - IGAA.L tracks the iShares Emerging Asia Local Govt Bond UCITS ETF USD (Acc) while USFR.L tracks the Bloomberg US Treasury Floating Rate Bond Index. Both are passively managed. Over the past 5 years, IGAA.L returned -0.18%/yr vs 3.91%/yr for USFR.L. At a 0.02 correlation, their price movements are largely independent. IGAA.L charges 0.50%/yr vs 0.15%/yr for USFR.L.
Performance
IGAA.L vs. USFR.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 lower than USFR.L's 2.98% 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*
- —
USFR.L
- 1D
- 0.04%
- 1M
- 1.27%
- 6M
- 2.83%
- YTD
- 2.98%
- 1Y
- 4.86%
- 3Y*
- 5.01%
- 5Y*
- 3.91%
- 10Y*
- —
IGAA.L vs. USFR.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
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% | 6.81% |
USFR.L WisdomTree USD Floating Rate Treasury Bond UCITS ETF USD | 2.98% | 4.17% | 5.46% | 4.95% | 2.06% | -0.16% | 0.58% | 1.59% |
Correlation
The correlation between IGAA.L and USFR.L is -0.08, 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 | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2019 | 0.02 |
The correlation between IGAA.L and USFR.L shifts across timeframes, from -0.08 (1 year) to 0.03 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IGAA.L vs. USFR.L — Risk / Return Rank
IGAA.L
USFR.L
IGAA.L vs. USFR.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 WisdomTree USD Floating Rate Treasury Bond UCITS ETF USD (USFR.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 | USFR.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.82 | ||
| Sortino ratioReturn per unit of downside risk | -4.18 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.80 | -0.95 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 3.85 | -4.63 |
| Martin ratioReturn relative to average drawdown | -1.62 | 41.80 | -43.42 |
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Drawdowns
IGAA.L vs. USFR.L - Drawdown Comparison
The maximum IGAA.L drawdown since its inception was -21.59%, which is greater than USFR.L's maximum drawdown of -2.99%. Use the drawdown chart below to compare losses from any high point for IGAA.L and USFR.L.
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Drawdown Indicators
| IGAA.L | USFR.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.59% | -2.99% | -18.60% |
Max Drawdown (1Y)Largest decline over 1 year | -6.63% | -1.26% | -5.37% |
Max Drawdown (3Y)Largest decline over 3 years | -7.68% | -1.75% | -5.93% |
Max Drawdown (5Y)Largest decline over 5 years | -18.76% | -1.75% | -17.01% |
Current DrawdownCurrent decline from peak | -5.97% | 0.00% | -5.97% |
Average DrawdownAverage peak-to-trough decline | -5.56% | -0.09% | -5.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.19% | 0.12% | +3.07% |
Volatility
IGAA.L vs. USFR.L - Volatility Comparison
iShares Emerging Asia Local Govt Bond UCITS ETF USD (Acc) (IGAA.L) has a higher volatility of 1.46% compared to WisdomTree USD Floating Rate Treasury Bond UCITS ETF USD (USFR.L) at 0.89%. This indicates that IGAA.L's price experiences larger fluctuations and is considered to be riskier than USFR.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 | USFR.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.46% | 0.89% | +0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 4.91% | 1.22% | +3.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.60% | 2.55% | +3.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.29% | 2.77% | +3.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.13% | 2.70% | +3.43% |
IGAA.L vs. USFR.L - Expense Ratio Comparison
IGAA.L has a 0.50% expense ratio, which is higher than USFR.L's 0.15% expense ratio.
Dividends
IGAA.L vs. USFR.L - Dividend Comparison
IGAA.L has not paid dividends to shareholders, while USFR.L's dividend yield for the trailing twelve months is around 4.73%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
IGAA.L iShares Emerging Asia Local Govt Bond UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USFR.L WisdomTree USD Floating Rate Treasury Bond UCITS ETF USD | 4.73% | 4.32% | 5.24% | 4.58% | 0.78% | 0.00% | 0.57% | 1.09% |
Frequently Asked Questions
IGAA.L and USFR.L have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, USFR.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
USFR.L is cheaper with a 0.15% expense ratio, compared with 0.50% for IGAA.L.
IGAA.L tracks iShares Emerging Asia Local Govt Bond UCITS ETF USD (Acc), while USFR.L tracks Bloomberg US Treasury Floating Rate Bond Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.50% for IGAA.L and 0.15% for USFR.L.
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