IGL5.L vs. VGGS.L
IGL5.L (iShares UK Gilts 0-5yr UCITS ETF GBP (Acc)) and VGGS.L (Vanguard Global Government Bond UCITS ETF GBP Hedged Accumulating) 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 VGGS.L is a International Government Bonds fund tracking the Bloomberg Global Treasury Developed Countries Float Adjusted (GBP Hedged) Index. Both are passively managed. Over the past year, IGL5.L returned 3.10% vs 2.21% for VGGS.L. A 0.61 correlation means they provide meaningful diversification when combined. IGL5.L charges 0.07%/yr vs 0.10%/yr for VGGS.L.
Performance
IGL5.L vs. VGGS.L - Performance Comparison
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Returns By Period
In the year-to-date period, IGL5.L achieves a 0.92% return, which is significantly higher than VGGS.L's -0.06% return.
IGL5.L
- 1D
- 0.09%
- 1M
- 0.61%
- YTD
- 0.92%
- 6M
- 0.63%
- 1Y
- 3.10%
- 3Y*
- 4.23%
- 5Y*
- —
- 10Y*
- —
VGGS.L
- 1D
- 0.16%
- 1M
- 0.40%
- YTD
- -0.06%
- 6M
- 0.05%
- 1Y
- 2.21%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IGL5.L vs. VGGS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IGL5.L iShares UK Gilts 0-5yr UCITS ETF GBP (Acc) | 0.92% | 2.38% |
VGGS.L Vanguard Global Government Bond UCITS ETF GBP Hedged Accumulating | -0.06% | 2.38% |
Correlation
The correlation between IGL5.L and VGGS.L is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Apr 24, 2025 | 0.61 |
The correlation between IGL5.L and VGGS.L has been stable across timeframes, ranging from 0.61 to 0.64 - a consistent structural relationship.
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Return for Risk
IGL5.L vs. VGGS.L — Risk / Return Rank
IGL5.L
VGGS.L
IGL5.L vs. VGGS.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 Vanguard Global Government Bond UCITS ETF GBP Hedged Accumulating (VGGS.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 | VGGS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.82 | ||
| Sortino ratioReturn per unit of downside risk | +1.20 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.11 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 0.72 | +0.91 |
| Martin ratioReturn relative to average drawdown | 5.55 | 2.07 | +3.48 |
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 | VGGS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.48 | 0.66 | +0.82 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.88 | 0.65 | +1.23 |
Drawdowns
IGL5.L vs. VGGS.L - Drawdown Comparison
The maximum IGL5.L drawdown since its inception was -1.89%, smaller than the maximum VGGS.L drawdown of -3.11%. Use the drawdown chart below to compare losses from any high point for IGL5.L and VGGS.L.
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Drawdown Indicators
| IGL5.L | VGGS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.89% | -3.11% | +1.22% |
Max Drawdown (1Y)Largest decline over 1 year | -1.89% | -3.11% | +1.22% |
Max Drawdown (3Y)Largest decline over 3 years | -1.89% | — | — |
Current DrawdownCurrent decline from peak | -0.64% | -1.78% | +1.14% |
Average DrawdownAverage peak-to-trough decline | -0.31% | -0.78% | +0.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 1.08% | -0.52% |
Volatility
IGL5.L vs. VGGS.L - Volatility Comparison
The current volatility for iShares UK Gilts 0-5yr UCITS ETF GBP (Acc) (IGL5.L) is 0.70%, while Vanguard Global Government Bond UCITS ETF GBP Hedged Accumulating (VGGS.L) has a volatility of 1.49%. This indicates that IGL5.L experiences smaller price fluctuations and is considered to be less risky than VGGS.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 | VGGS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.70% | 1.49% | -0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 1.89% | 2.70% | -0.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.09% | 3.41% | -1.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.16% | 3.54% | -1.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.16% | 3.54% | -1.38% |
IGL5.L vs. VGGS.L - Expense Ratio Comparison
IGL5.L has a 0.07% expense ratio, which is lower than VGGS.L's 0.10% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IGL5.L vs. VGGS.L - Dividend Comparison
Neither IGL5.L nor VGGS.L has paid dividends to shareholders.
Frequently Asked Questions
IGL5.L and VGGS.L have a correlation of 0.64, 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 0.10% for VGGS.L.
IGL5.L is categorized as European Government Bonds, while VGGS.L is International Government Bonds. IGL5.L tracks FTSE Actuaries UK Conventional Gilts up to 5 Years Index (GBP), while VGGS.L tracks Bloomberg Global Treasury Developed Countries Float Adjusted (GBP Hedged) Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.07% for IGL5.L and 0.10% for VGGS.L.
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