IGLA.L vs. GLAD.L
IGLA.L (iShares Global Govt Bond UCITS Acc) and GLAD.L (SPDR Bloomberg Global Aggregate Bond UCITS ETF USD Hedged (Acc)) are both Global Bonds funds - IGLA.L tracks the Bloomberg Global Aggregate TR USD while GLAD.L tracks the Bloomberg Global Aggregate TR Hdg USD. Both are passively managed. Over the past 5 years, IGLA.L returned -3.36%/yr vs 0.65%/yr for GLAD.L. A 0.77 correlation means they provide meaningful diversification when combined. IGLA.L charges 0.20%/yr vs 0.10%/yr for GLAD.L.
Performance
IGLA.L vs. GLAD.L - Performance Comparison
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Returns By Period
In the year-to-date period, IGLA.L achieves a -1.33% return, which is significantly lower than GLAD.L's 0.54% return.
IGLA.L
- 1D
- 0.19%
- 1M
- -0.05%
- YTD
- -1.33%
- 6M
- -1.11%
- 1Y
- 0.06%
- 3Y*
- 1.46%
- 5Y*
- -3.36%
- 10Y*
- —
GLAD.L
- 1D
- 0.15%
- 1M
- 0.14%
- YTD
- 0.54%
- 6M
- 0.72%
- 1Y
- 3.48%
- 3Y*
- 4.15%
- 5Y*
- 0.65%
- 10Y*
- —
IGLA.L vs. GLAD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IGLA.L iShares Global Govt Bond UCITS Acc | -1.33% | 6.09% | -2.98% | 3.99% | -17.80% | -6.85% | 9.45% | -0.33% |
GLAD.L SPDR Bloomberg Global Aggregate Bond UCITS ETF USD Hedged (Acc) | 0.54% | 4.72% | 3.23% | 6.73% | -11.24% | -1.59% | 5.21% | -0.04% |
Correlation
The correlation between IGLA.L and GLAD.L is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Oct 14, 2019 | 0.77 |
The correlation between IGLA.L and GLAD.L has been stable across timeframes, ranging from 0.73 to 0.82 - a consistent structural relationship.
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Return for Risk
IGLA.L vs. GLAD.L — Risk / Return Rank
IGLA.L
GLAD.L
IGLA.L vs. GLAD.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 SPDR Bloomberg Global Aggregate Bond UCITS ETF USD Hedged (Acc) (GLAD.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 | GLAD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.08 | ||
| Sortino ratioReturn per unit of downside risk | -1.53 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.20 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 0.01 | 1.51 | -1.50 |
| Martin ratioReturn relative to average drawdown | 0.04 | 4.60 | -4.56 |
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 | GLAD.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.01 | 1.09 | -1.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.47 | 0.15 | -0.61 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.10 | 0.23 | -0.32 |
Drawdowns
IGLA.L vs. GLAD.L - Drawdown Comparison
The maximum IGLA.L drawdown since its inception was -28.01%, which is greater than GLAD.L's maximum drawdown of -15.20%. Use the drawdown chart below to compare losses from any high point for IGLA.L and GLAD.L.
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Drawdown Indicators
| IGLA.L | GLAD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.01% | -15.20% | -12.81% |
Max Drawdown (1Y)Largest decline over 1 year | -4.27% | -2.30% | -1.97% |
Max Drawdown (3Y)Largest decline over 3 years | -7.95% | -3.78% | -4.17% |
Max Drawdown (5Y)Largest decline over 5 years | -25.86% | -15.05% | -10.81% |
Current DrawdownCurrent decline from peak | -19.18% | -1.01% | -18.17% |
Average DrawdownAverage peak-to-trough decline | -11.90% | -4.55% | -7.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.69% | 0.76% | +0.93% |
Volatility
IGLA.L vs. GLAD.L - Volatility Comparison
iShares Global Govt Bond UCITS Acc (IGLA.L) has a higher volatility of 2.06% compared to SPDR Bloomberg Global Aggregate Bond UCITS ETF USD Hedged (Acc) (GLAD.L) at 1.38%. This indicates that IGLA.L's price experiences larger fluctuations and is considered to be riskier than GLAD.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 | GLAD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.06% | 1.38% | +0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 4.19% | 2.63% | +1.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.54% | 3.19% | +2.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.22% | 4.48% | +2.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.74% | 4.27% | +2.47% |
IGLA.L vs. GLAD.L - Expense Ratio Comparison
IGLA.L has a 0.20% expense ratio, which is higher than GLAD.L's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IGLA.L vs. GLAD.L - Dividend Comparison
Neither IGLA.L nor GLAD.L has paid dividends to shareholders.
Frequently Asked Questions
IGLA.L and GLAD.L have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLAD.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLAD.L is cheaper with a 0.10% expense ratio, compared with 0.20% for IGLA.L.
IGLA.L tracks Bloomberg Global Aggregate TR USD, while GLAD.L tracks Bloomberg Global Aggregate TR Hdg USD. They also come from different issuers: iShares and State Street. Their fees differ too: 0.20% for IGLA.L and 0.10% for GLAD.L.
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