IGL5.L vs. CMFP.L
IGL5.L (iShares UK Gilts 0-5yr UCITS ETF GBP (Acc)) and CMFP.L (L&G Longer Dated All Commodities UCITS ETF) are both exchange-traded funds - IGL5.L is a European Government Bonds fund tracking the FTSE Actuaries UK Conventional Gilts up to 5 Years Index (GBP), while CMFP.L is a Commodities fund tracking the Bloomberg Commodity 3 Month Forward. Both are passively managed. Over the past 3 years, IGL5.L returned 4.23%/yr vs 10.92%/yr for CMFP.L. At a correlation of -0.16, they often move in opposite directions. IGL5.L charges 0.07%/yr vs 0.30%/yr for CMFP.L.
Performance
IGL5.L vs. CMFP.L - Performance Comparison
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Different Trading Currencies
IGL5.L is traded in GBP, while CMFP.L is traded in GBp. To make them comparable, the CMFP.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, IGL5.L achieves a 0.92% return, which is significantly lower than CMFP.L's 19.16% return.
IGL5.L
- 1D
- 0.09%
- 1M
- 0.61%
- YTD
- 0.92%
- 6M
- 0.63%
- 1Y
- 3.10%
- 3Y*
- 4.23%
- 5Y*
- —
- 10Y*
- —
CMFP.L
- 1D
- -1.12%
- 1M
- -1.18%
- YTD
- 19.16%
- 6M
- 18.60%
- 1Y
- 32.00%
- 3Y*
- 10.92%
- 5Y*
- 13.29%
- 10Y*
- 9.22%
IGL5.L vs. CMFP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IGL5.L iShares UK Gilts 0-5yr UCITS ETF GBP (Acc) | 0.92% | 4.56% | 2.68% | 4.14% |
CMFP.L L&G Longer Dated All Commodities UCITS ETF | 19.16% | 8.49% | 6.86% | -1.11% |
Correlation
The correlation between IGL5.L and CMFP.L is -0.35, 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 | -0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.16 |
Correlation (All Time) Calculated using the full available price history since May 24, 2023 | -0.16 |
The correlation between IGL5.L and CMFP.L shifts across timeframes, from -0.35 (1 year) to -0.16 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
IGL5.L vs. CMFP.L — Risk / Return Rank
IGL5.L
CMFP.L
IGL5.L vs. CMFP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares UK Gilts 0-5yr UCITS ETF GBP (Acc) (IGL5.L) and L&G Longer Dated All Commodities UCITS ETF (CMFP.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.
| IGL5.L | CMFP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.68 | ||
| Sortino ratioReturn per unit of downside risk | -0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.39 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 4.81 | -3.18 |
| Martin ratioReturn relative to average drawdown | 5.55 | 11.77 | -6.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IGL5.L | CMFP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.48 | 2.16 | -0.68 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.89 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.66 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.88 | 0.27 | +1.61 |
Drawdowns
IGL5.L vs. CMFP.L - Drawdown Comparison
The maximum IGL5.L drawdown since its inception was -1.89%, smaller than the maximum CMFP.L drawdown of -50.47%. Use the drawdown chart below to compare losses from any high point for IGL5.L and CMFP.L.
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Drawdown Indicators
| IGL5.L | CMFP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.89% | -50.47% | +48.58% |
Max Drawdown (1Y)Largest decline over 1 year | -1.89% | -6.63% | +4.74% |
Max Drawdown (3Y)Largest decline over 3 years | -1.89% | -12.97% | +11.08% |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.51% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.95% | — |
Current DrawdownCurrent decline from peak | -0.64% | -3.64% | +3.00% |
Average DrawdownAverage peak-to-trough decline | -0.31% | -24.51% | +24.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 2.71% | -2.15% |
Volatility
IGL5.L vs. CMFP.L - Volatility Comparison
The current volatility for iShares UK Gilts 0-5yr UCITS ETF GBP (Acc) (IGL5.L) is 0.70%, while L&G Longer Dated All Commodities UCITS ETF (CMFP.L) has a volatility of 4.82%. This indicates that IGL5.L experiences smaller price fluctuations and is considered to be less risky than CMFP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGL5.L | CMFP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.70% | 4.82% | -4.12% |
Volatility (6M)Calculated over the trailing 6-month period | 1.89% | 12.18% | -10.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.09% | 14.73% | -12.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.16% | 14.86% | -12.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.16% | 13.92% | -11.76% |
IGL5.L vs. CMFP.L - Expense Ratio Comparison
IGL5.L has a 0.07% expense ratio, which is lower than CMFP.L's 0.30% expense ratio.
Dividends
IGL5.L vs. CMFP.L - Dividend Comparison
Neither IGL5.L nor CMFP.L has paid dividends to shareholders.
Frequently Asked Questions
IGL5.L and CMFP.L have a correlation of -0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGL5.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGL5.L is cheaper with a 0.07% expense ratio, compared with 0.30% for CMFP.L.
IGL5.L is categorized as European Government Bonds, while CMFP.L is Commodities. IGL5.L tracks FTSE Actuaries UK Conventional Gilts up to 5 Years Index (GBP), while CMFP.L tracks Bloomberg Commodity 3 Month Forward. They also come from different issuers: iShares and Legal & General. Their fees differ too: 0.07% for IGL5.L and 0.30% for CMFP.L.
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