IGDA.L vs. ICLU.L
IGDA.L (Invesco Dow Jones Islamic Global Developed Markets UCITS ETF USD Acc) and ICLU.L (Invesco USD AAA CLO UCITS ETF Acc) are both exchange-traded funds - IGDA.L is a Global Equities fund tracking the Dow Jones Islamic Market Developed Markets Index, while ICLU.L is a CLO fund actively managed by Invesco. IGDA.L is passively managed, while ICLU.L is actively managed. Over the past year, IGDA.L returned 28.90% vs 5.07% for ICLU.L. At a 0.04 correlation, their price movements are largely independent. IGDA.L charges 0.40%/yr vs 0.25%/yr for ICLU.L.
Performance
IGDA.L vs. ICLU.L - Performance Comparison
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Returns By Period
In the year-to-date period, IGDA.L achieves a 11.69% return, which is significantly higher than ICLU.L's 2.39% return.
IGDA.L
- 1D
- 0.49%
- 1M
- -0.71%
- YTD
- 11.69%
- 6M
- 11.40%
- 1Y
- 28.90%
- 3Y*
- 19.67%
- 5Y*
- —
- 10Y*
- —
ICLU.L
- 1D
- 0.00%
- 1M
- 0.38%
- YTD
- 2.39%
- 6M
- 2.46%
- 1Y
- 5.07%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IGDA.L vs. ICLU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IGDA.L Invesco Dow Jones Islamic Global Developed Markets UCITS ETF USD Acc | 11.69% | 16.26% |
ICLU.L Invesco USD AAA CLO UCITS ETF Acc | 2.39% | 4.22% |
Correlation
The correlation between IGDA.L and ICLU.L is -0.04, 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 | -0.04 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2025 | 0.04 |
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Return for Risk
IGDA.L vs. ICLU.L — Risk / Return Rank
IGDA.L
ICLU.L
IGDA.L vs. ICLU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dow Jones Islamic Global Developed Markets UCITS ETF USD Acc (IGDA.L) and Invesco USD AAA CLO UCITS ETF Acc (ICLU.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.
| IGDA.L | ICLU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.18 | ||
| Sortino ratioReturn per unit of downside risk | -3.33 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 2.26 | -0.91 |
| Calmar ratioReturn relative to maximum drawdown | 2.97 | 8.08 | -5.11 |
| Martin ratioReturn relative to average drawdown | 11.90 | 37.88 | -25.98 |
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Drawdowns
IGDA.L vs. ICLU.L - Drawdown Comparison
The maximum IGDA.L drawdown since its inception was -27.14%, which is greater than ICLU.L's maximum drawdown of -0.91%. Use the drawdown chart below to compare losses from any high point for IGDA.L and ICLU.L.
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Drawdown Indicators
| IGDA.L | ICLU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.14% | -0.91% | -26.23% |
Max Drawdown (1Y)Largest decline over 1 year | -9.69% | -0.63% | -9.06% |
Max Drawdown (3Y)Largest decline over 3 years | -20.14% | — | — |
Current DrawdownCurrent decline from peak | -4.05% | 0.00% | -4.05% |
Average DrawdownAverage peak-to-trough decline | -7.01% | -0.08% | -6.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.42% | 0.13% | +2.29% |
Volatility
IGDA.L vs. ICLU.L - Volatility Comparison
Invesco Dow Jones Islamic Global Developed Markets UCITS ETF USD Acc (IGDA.L) has a higher volatility of 4.98% compared to Invesco USD AAA CLO UCITS ETF Acc (ICLU.L) at 0.19%. This indicates that IGDA.L's price experiences larger fluctuations and is considered to be riskier than ICLU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGDA.L | ICLU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.98% | 0.19% | +4.79% |
Volatility (6M)Calculated over the trailing 6-month period | 11.56% | 0.83% | +10.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.63% | 1.22% | +13.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.72% | 1.44% | +16.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.72% | 1.44% | +16.28% |
IGDA.L vs. ICLU.L - Expense Ratio Comparison
IGDA.L has a 0.40% expense ratio, which is higher than ICLU.L's 0.25% expense ratio.
Dividends
IGDA.L vs. ICLU.L - Dividend Comparison
Neither IGDA.L nor ICLU.L has paid dividends to shareholders.
Frequently Asked Questions
IGDA.L and ICLU.L have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ICLU.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ICLU.L is cheaper with a 0.25% expense ratio, compared with 0.40% for IGDA.L.
IGDA.L is categorized as Global Equities, while ICLU.L is CLO. Their fees differ too: 0.40% for IGDA.L and 0.25% for ICLU.L.
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