IGEA.L vs. USFR.L
IGEA.L (iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist)) and USFR.L (WisdomTree USD Floating Rate Treasury Bond UCITS ETF USD) are both Government Bonds funds - IGEA.L tracks the iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) while USFR.L tracks the Bloomberg US Treasury Floating Rate Bond Index. Both are passively managed. Over the past 5 years, IGEA.L returned -0.49%/yr vs 3.91%/yr for USFR.L. At a 0.02 correlation, their price movements are largely independent. IGEA.L charges 0.50%/yr vs 0.15%/yr for USFR.L.
Performance
IGEA.L vs. USFR.L - Performance Comparison
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Returns By Period
In the year-to-date period, IGEA.L achieves a -5.98% return, which is significantly lower than USFR.L's 2.98% return.
IGEA.L
- 1D
- -0.23%
- 1M
- -0.62%
- 6M
- -5.73%
- YTD
- -5.98%
- 1Y
- -6.63%
- 3Y*
- 0.73%
- 5Y*
- -0.49%
- 10Y*
- 1.01%
USFR.L
- 1D
- 0.04%
- 1M
- 1.27%
- 6M
- 2.83%
- YTD
- 2.98%
- 1Y
- 4.86%
- 3Y*
- 5.01%
- 5Y*
- 3.91%
- 10Y*
- —
IGEA.L vs. USFR.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IGEA.L iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) | -5.98% | 5.84% | 1.57% | 4.77% | -7.79% | -4.40% | 9.11% | 6.70% |
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 IGEA.L and USFR.L is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2019 | 0.02 |
The correlation between IGEA.L and USFR.L shifts across timeframes, from -0.14 (1 year) to 0.02 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IGEA.L vs. USFR.L — Risk / Return Rank
IGEA.L
USFR.L
IGEA.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 (Dist) (IGEA.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.
| IGEA.L | USFR.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.99 | ||
| Sortino ratioReturn per unit of downside risk | -4.37 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.80 | -0.98 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | 3.85 | -4.62 |
| Martin ratioReturn relative to average drawdown | -1.46 | 41.80 | -43.26 |
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Drawdowns
IGEA.L vs. USFR.L - Drawdown Comparison
The maximum IGEA.L drawdown since its inception was -21.51%, 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 IGEA.L and USFR.L.
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Drawdown Indicators
| IGEA.L | USFR.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.51% | -2.99% | -18.52% |
Max Drawdown (1Y)Largest decline over 1 year | -8.59% | -1.26% | -7.33% |
Max Drawdown (3Y)Largest decline over 3 years | -8.59% | -1.75% | -6.84% |
Max Drawdown (5Y)Largest decline over 5 years | -18.81% | -1.75% | -17.06% |
Max Drawdown (10Y)Largest decline over 10 years | -21.51% | — | — |
Current DrawdownCurrent decline from peak | -7.77% | 0.00% | -7.77% |
Average DrawdownAverage peak-to-trough decline | -5.94% | -0.09% | -5.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.53% | 0.12% | +4.41% |
Volatility
IGEA.L vs. USFR.L - Volatility Comparison
iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) (IGEA.L) has a higher volatility of 1.16% compared to WisdomTree USD Floating Rate Treasury Bond UCITS ETF USD (USFR.L) at 0.89%. This indicates that IGEA.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
| IGEA.L | USFR.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 0.89% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 5.25% | 1.22% | +4.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.06% | 2.55% | +3.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.40% | 2.77% | +3.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.33% | 2.70% | +3.63% |
IGEA.L vs. USFR.L - Expense Ratio Comparison
IGEA.L has a 0.50% expense ratio, which is higher than USFR.L's 0.15% expense ratio.
Dividends
IGEA.L vs. USFR.L - Dividend Comparison
IGEA.L's dividend yield for the trailing twelve months is around 1.78%, less than USFR.L's 4.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGEA.L iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) | 1.78% | 3.24% | 3.07% | 2.87% | 2.96% | 2.42% | 2.80% | 2.46% | 2.57% | 2.02% | 3.01% | 1.18% |
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% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IGEA.L and USFR.L have a correlation of -0.14, 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 IGEA.L.
IGEA.L tracks iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist), 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 IGEA.L and 0.15% for USFR.L.
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