IGF vs. GIN.L

Last updated Apr 2, 2026

Compare and contrast key facts about iShares Global Infrastructure ETF (IGF) and SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF Dist (GIN.L).

IGF and GIN.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IGF is a passively managed fund by iShares that tracks the performance of the S&P Global Infrastructure Index. It was launched on Dec 10, 2007. GIN.L is a passively managed fund by State Street that tracks the performance of the Morningstar EAA USD Mod Tgt Alloc NR USD. It was launched on Apr 14, 2015. Both IGF and GIN.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

IGF vs. GIN.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Infrastructure ETF (IGF) and SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF Dist (GIN.L). The values are adjusted to include any dividend payments, if applicable.

IGF vs. GIN.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IGF iShares Global Infrastructure ETF	9.55%	21.31%	14.81%	6.14%	-1.26%	11.57%	-6.50%	25.82%	-9.95%	19.31%
GIN.L SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF Dist	2.58%	11.36%	0.39%	6.85%	-13.64%	1,052.44%	6.99%	19.20%	-4.24%	12.82%

Different Trading Currencies

IGF is traded in USD, while GIN.L is traded in GBP. To make them comparable, the GIN.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, IGF achieves a 9.55% return, which is significantly higher than GIN.L's 2.69% return. Over the past 10 years, IGF has underperformed GIN.L with an annualized return of 8.84%, while GIN.L has yielded a comparatively higher 32.86% annualized return.

IGF

• 1D: 0.33%
• 1M: -2.57%
• YTD: 9.55%
• 6M: 11.40%
• 1Y: 26.48%
• 3Y*: 15.89%
• 5Y*: 11.45%
• 10Y*: 8.84%

GIN.L

• 1D: 0.00%
• 1M: -4.17%
• YTD: 2.69%
• 6M: 3.27%
• 1Y: 10.03%
• 3Y*: 6.70%
• 5Y*: 2.18%
• 10Y*: 32.86%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IGF vs. GIN.L - Expense Ratio Comparison

IGF has a 0.39% expense ratio, which is lower than GIN.L's 0.40% expense ratio.

GIN.L

SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF Dist

IGF

iShares Global Infrastructure ETF

Return for Risk

IGF vs. GIN.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IGF

IGF Risk / Return Rank: 92
IGF Sharpe Ratio Rank: 91
IGF Sortino Ratio Rank: 92
IGF Omega Ratio Rank: 92
IGF Calmar Ratio Rank: 90
IGF Martin Ratio Rank: 94

GIN.L

GIN.L Risk / Return Rank: 51
GIN.L Sharpe Ratio Rank: 45
GIN.L Sortino Ratio Rank: 41
GIN.L Omega Ratio Rank: 38
GIN.L Calmar Ratio Rank: 77
GIN.L Martin Ratio Rank: 55

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IGF vs. GIN.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Infrastructure ETF (IGF) and SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF Dist (GIN.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.

	IGF	GIN.L	Difference
Sharpe ratio Return per unit of total volatility	2.09	1.00	+1.09
Sortino ratio Return per unit of downside risk	2.76	1.40	+1.36
Omega ratio Gain probability vs. loss probability	1.42	1.19	+0.23
Calmar ratio Return relative to maximum drawdown	3.10	1.97	+1.12
Martin ratio Return relative to average drawdown	15.49	7.45	+8.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IGF vs. GIN.L - Sharpe Ratio Comparison

The current IGF Sharpe Ratio is 2.09, which is higher than the GIN.L Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of IGF and GIN.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IGF	GIN.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.09	1.00	+1.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	0.20	+0.63
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	0.10	+0.42
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	0.10	+0.14

Correlation

The correlation between IGF and GIN.L is 0.54, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

IGF vs. GIN.L - Dividend Comparison

IGF's dividend yield for the trailing twelve months is around 2.94%, while GIN.L has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IGF iShares Global Infrastructure ETF	2.94%	3.23%	3.21%	3.36%	2.67%	2.42%	2.33%	3.27%	3.52%	2.95%	2.98%	3.25%
GIN.L SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF Dist	0.00%	0.00%	0.00%	2.80%	2.47%	87.32%	2.23%	2.37%	2.16%	2.30%	2.17%	1.81%

Drawdowns

IGF vs. GIN.L - Drawdown Comparison

The maximum IGF drawdown since its inception was -58.33%, which is greater than GIN.L's maximum drawdown of -24.26%. Use the drawdown chart below to compare losses from any high point for IGF and GIN.L.

Drawdown Indicators

	IGF	GIN.L	Difference
Max Drawdown Largest peak-to-trough decline	-58.33%	-15.71%	-42.62%
Max Drawdown (1Y) Largest decline over 1 year	-8.74%	-4.18%	-4.56%
Max Drawdown (5Y) Largest decline over 5 years	-20.83%	-12.40%	-8.43%
Max Drawdown (10Y) Largest decline over 10 years	-42.11%	-15.71%	-26.40%
Current Drawdown Current decline from peak	-3.10%	-2.44%	-0.66%
Average Drawdown Average peak-to-trough decline	-11.95%	-3.87%	-8.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.75%	1.61%	+0.14%

Volatility

IGF vs. GIN.L - Volatility Comparison

iShares Global Infrastructure ETF (IGF) has a higher volatility of 3.90% compared to SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF Dist (GIN.L) at 2.64%. This indicates that IGF's price experiences larger fluctuations and is considered to be riskier than GIN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IGF	GIN.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.90%	2.64%	+1.26%
Volatility (6M) Calculated over the trailing 6-month period	7.33%	6.23%	+1.10%
Volatility (1Y) Calculated over the trailing 1-year period	12.73%	9.99%	+2.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.89%	442.42%	-428.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.80%	312.81%	-296.01%