IGLA.L vs. GLBL.L
IGLA.L (iShares Global Govt Bond UCITS Acc) and GLBL.L (SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged) are both Global Bonds funds tracking the Bloomberg Global Aggregate TR USD, from iShares and State Street respectively. Both are passively managed. Over the past 5 years, IGLA.L returned -3.23%/yr vs -1.61%/yr for GLBL.L. A 0.61 correlation means they provide meaningful diversification when combined. IGLA.L charges 0.20%/yr vs 0.10%/yr for GLBL.L.
Performance
IGLA.L vs. GLBL.L - Performance Comparison
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Different Trading Currencies
IGLA.L is traded in USD, while GLBL.L is traded in GBP. To make them comparable, the GLBL.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IGLA.L achieves a -1.47% return, which is significantly lower than GLBL.L's -0.43% return.
IGLA.L
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- -1.47%
- 6M
- -1.47%
- 1Y
- -0.84%
- 3Y*
- 1.24%
- 5Y*
- -3.23%
- 10Y*
- —
GLBL.L
- 1D
- 0.05%
- 1M
- -0.40%
- YTD
- -0.43%
- 6M
- -0.31%
- 1Y
- 0.98%
- 3Y*
- 3.14%
- 5Y*
- -1.61%
- 10Y*
- —
IGLA.L vs. GLBL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IGLA.L iShares Global Govt Bond UCITS Acc | -1.47% | 6.00% | -2.81% | 3.91% | -17.80% | -6.85% | 9.45% | 5.84% | -2.20% |
GLBL.L SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged | -0.43% | 8.25% | -1.64% | 4.83% | -16.04% | -4.83% | 8.54% | 7.45% | -31.22% |
Correlation
The correlation between IGLA.L and GLBL.L is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Jan 26, 2018 | 0.61 |
The correlation between IGLA.L and GLBL.L shifts across timeframes, from 0.59 (1 year) to 0.70 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IGLA.L vs. GLBL.L — Risk / Return Rank
IGLA.L
GLBL.L
IGLA.L vs. GLBL.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 Barclays Global Aggregate Bond UCITS USD unhedged (GLBL.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IGLA.L | GLBL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.47 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.03 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.19 | 0.25 | -0.44 |
| Martin ratioReturn relative to average drawdown | -0.46 | 0.65 | -1.11 |
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Drawdowns
IGLA.L vs. GLBL.L - Drawdown Comparison
The maximum IGLA.L drawdown since its inception was -28.01%, smaller than the maximum GLBL.L drawdown of -40.58%. Use the drawdown chart below to compare losses from any high point for IGLA.L and GLBL.L.
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Drawdown Indicators
| IGLA.L | GLBL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.01% | -40.58% | +12.57% |
Max Drawdown (1Y)Largest decline over 1 year | -4.33% | -3.96% | -0.37% |
Max Drawdown (3Y)Largest decline over 3 years | -7.97% | -7.06% | -0.91% |
Max Drawdown (5Y)Largest decline over 5 years | -25.86% | -24.63% | -1.23% |
Current DrawdownCurrent decline from peak | -19.29% | -28.78% | +9.49% |
Average DrawdownAverage peak-to-trough decline | -11.93% | -29.64% | +17.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.83% | 1.52% | +0.31% |
Volatility
IGLA.L vs. GLBL.L - Volatility Comparison
The current volatility for iShares Global Govt Bond UCITS Acc (IGLA.L) is 1.39%, while SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged (GLBL.L) has a volatility of 1.64%. This indicates that IGLA.L experiences smaller price fluctuations and is considered to be less risky than GLBL.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 | GLBL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.39% | 1.64% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 4.22% | 4.42% | -0.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.53% | 5.64% | -0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.26% | 7.48% | -0.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.75% | 12.13% | -5.38% |
IGLA.L vs. GLBL.L - Expense Ratio Comparison
IGLA.L has a 0.20% expense ratio, which is higher than GLBL.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. GLBL.L - Dividend Comparison
IGLA.L has not paid dividends to shareholders, while GLBL.L's dividend yield for the trailing twelve months is around 3.10%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
GLBL.L SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged | 3.10% | 3.14% | 2.76% | 2.05% | 1.39% | 1.22% | 1.54% | 1.67% | 1.06% |
IGLA.L iShares Global Govt Bond UCITS Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IGLA.L and GLBL.L have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLBL.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLBL.L is cheaper with a 0.10% expense ratio, compared with 0.20% for IGLA.L.
Both ETFs track Bloomberg Global Aggregate TR USD. They also come from different issuers: iShares and State Street. Their fees differ too: 0.20% for IGLA.L and 0.10% for GLBL.L.
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