IGLA.L vs. GAAA.L
IGLA.L (iShares Global Govt Bond UCITS Acc) and GAAA.L (iShares Global AAA-AA Govt Bond UCITS ETF USD (Acc)) are both Global Bonds funds from iShares tracking the Bloomberg Global Aggregate TR USD. Both are passively managed. Over the past 5 years, IGLA.L returned -3.39%/yr vs -3.06%/yr for GAAA.L. Their correlation of 0.86 suggests significant overlap in exposure. Both charge a 0.20% expense ratio.
Performance
IGLA.L vs. GAAA.L - Performance Comparison
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Returns By Period
In the year-to-date period, IGLA.L achieves a -1.51% return, which is significantly lower than GAAA.L's -0.07% return.
IGLA.L
- 1D
- -0.51%
- 1M
- -0.71%
- YTD
- -1.51%
- 6M
- -1.30%
- 1Y
- 0.25%
- 3Y*
- 1.30%
- 5Y*
- -3.39%
- 10Y*
- —
GAAA.L
- 1D
- -0.58%
- 1M
- -0.68%
- YTD
- -0.07%
- 6M
- 0.43%
- 1Y
- 2.16%
- 3Y*
- 3.71%
- 5Y*
- -3.06%
- 10Y*
- —
IGLA.L vs. GAAA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IGLA.L iShares Global Govt Bond UCITS Acc | -1.51% | 6.09% | -2.98% | 3.99% | -17.80% | -6.85% | 9.45% | 5.84% | 0.24% |
GAAA.L iShares Global AAA-AA Govt Bond UCITS ETF USD (Acc) | -0.07% | 10.43% | -5.07% | 8.26% | -20.61% | -8.76% | 12.37% | 4.92% | -1.16% |
Correlation
The correlation between IGLA.L and GAAA.L is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Jul 4, 2018 | 0.86 |
The correlation between IGLA.L and GAAA.L has been stable across timeframes, ranging from 0.86 to 0.89 - a consistent structural relationship.
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Return for Risk
IGLA.L vs. GAAA.L — Risk / Return Rank
IGLA.L
GAAA.L
IGLA.L vs. GAAA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Govt Bond UCITS Acc (IGLA.L) and iShares Global AAA-AA Govt Bond UCITS ETF USD (Acc) (GAAA.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.
| IGLA.L | GAAA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.06 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.06 | 0.42 | -0.36 |
| Martin ratioReturn relative to average drawdown | 0.15 | 1.11 | -0.96 |
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
| IGLA.L | GAAA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.05 | 0.30 | -0.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.47 | -0.34 | -0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.10 | -0.07 | -0.03 |
Drawdowns
IGLA.L vs. GAAA.L - Drawdown Comparison
The maximum IGLA.L drawdown since its inception was -28.01%, smaller than the maximum GAAA.L drawdown of -33.06%. Use the drawdown chart below to compare losses from any high point for IGLA.L and GAAA.L.
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Drawdown Indicators
| IGLA.L | GAAA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.01% | -33.06% | +5.05% |
Max Drawdown (1Y)Largest decline over 1 year | -4.27% | -5.08% | +0.81% |
Max Drawdown (3Y)Largest decline over 3 years | -7.95% | -10.29% | +2.34% |
Max Drawdown (5Y)Largest decline over 5 years | -25.86% | -30.55% | +4.69% |
Current DrawdownCurrent decline from peak | -19.33% | -17.85% | -1.48% |
Average DrawdownAverage peak-to-trough decline | -11.90% | -13.80% | +1.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.68% | 1.94% | -0.26% |
Volatility
IGLA.L vs. GAAA.L - Volatility Comparison
The current volatility for iShares Global Govt Bond UCITS Acc (IGLA.L) is 2.10%, while iShares Global AAA-AA Govt Bond UCITS ETF USD (Acc) (GAAA.L) has a volatility of 2.56%. This indicates that IGLA.L experiences smaller price fluctuations and is considered to be less risky than GAAA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGLA.L | GAAA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.10% | 2.56% | -0.46% |
Volatility (6M)Calculated over the trailing 6-month period | 4.19% | 5.61% | -1.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.54% | 7.23% | -1.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.22% | 8.91% | -1.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.74% | 7.96% | -1.22% |
IGLA.L vs. GAAA.L - Expense Ratio Comparison
Both IGLA.L and GAAA.L have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IGLA.L vs. GAAA.L - Dividend Comparison
Neither IGLA.L nor GAAA.L has paid dividends to shareholders.
Frequently Asked Questions
IGLA.L and GAAA.L have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
IGLA.L and GAAA.L have the same expense ratio: 0.20% per year.
Both ETFs track Bloomberg Global Aggregate TR USD.
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