IGLA.L vs. IAAA.L
IGLA.L (iShares Global Govt Bond UCITS Acc) and IAAA.L (iShares Global AAA-AA Government Bond UCITS) 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 -3.36%/yr vs -3.01%/yr for IAAA.L. A 0.59 correlation means they provide meaningful diversification when combined. Both charge a 0.20% expense ratio.
Performance
IGLA.L vs. IAAA.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 IAAA.L's 0.13% 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*
- —
IAAA.L
- 1D
- 0.19%
- 1M
- 0.02%
- YTD
- 0.13%
- 6M
- 1.27%
- 1Y
- 2.00%
- 3Y*
- 3.96%
- 5Y*
- -3.01%
- 10Y*
- -0.36%
IGLA.L vs. IAAA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGLA.L iShares Global Govt Bond UCITS Acc | -1.33% | 6.09% | -2.98% | 3.99% | -17.80% | -6.85% | 9.45% | 5.84% | -0.51% | 1.32% |
IAAA.L iShares Global AAA-AA Government Bond UCITS | 0.13% | 10.70% | -5.21% | 8.69% | -21.12% | -8.15% | 12.09% | 4.75% | -2.34% | 1.23% |
Correlation
The correlation between IGLA.L and IAAA.L is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Oct 24, 2017 | 0.59 |
The correlation between IGLA.L and IAAA.L has been stable across timeframes, ranging from 0.57 to 0.59 - a consistent structural relationship.
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Return for Risk
IGLA.L vs. IAAA.L — Risk / Return Rank
IGLA.L
IAAA.L
IGLA.L vs. IAAA.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 Government Bond UCITS (IAAA.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 | IAAA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.54 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.07 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.01 | 0.77 | -0.75 |
| Martin ratioReturn relative to average drawdown | 0.04 | 1.90 | -1.86 |
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 | IAAA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.01 | 0.36 | -0.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.47 | -0.42 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.06 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.10 | -0.07 | -0.03 |
Drawdowns
IGLA.L vs. IAAA.L - Drawdown Comparison
The maximum IGLA.L drawdown since its inception was -28.01%, smaller than the maximum IAAA.L drawdown of -32.79%. Use the drawdown chart below to compare losses from any high point for IGLA.L and IAAA.L.
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Drawdown Indicators
| IGLA.L | IAAA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.01% | -32.79% | +4.78% |
Max Drawdown (1Y)Largest decline over 1 year | -4.27% | -4.11% | -0.16% |
Max Drawdown (3Y)Largest decline over 3 years | -7.95% | -10.21% | +2.26% |
Max Drawdown (5Y)Largest decline over 5 years | -25.86% | -30.57% | +4.71% |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.79% | — |
Current DrawdownCurrent decline from peak | -19.18% | -17.30% | -1.88% |
Average DrawdownAverage peak-to-trough decline | -11.90% | -10.59% | -1.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.69% | 1.98% | -0.29% |
Volatility
IGLA.L vs. IAAA.L - Volatility Comparison
The current volatility for iShares Global Govt Bond UCITS Acc (IGLA.L) is 2.06%, while iShares Global AAA-AA Government Bond UCITS (IAAA.L) has a volatility of 2.59%. This indicates that IGLA.L experiences smaller price fluctuations and is considered to be less risky than IAAA.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 | IAAA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.06% | 2.59% | -0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 4.19% | 5.78% | -1.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.54% | 8.83% | -3.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.22% | 11.26% | -4.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.74% | 9.36% | -2.62% |
IGLA.L vs. IAAA.L - Expense Ratio Comparison
Both IGLA.L and IAAA.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. IAAA.L - Dividend Comparison
IGLA.L has not paid dividends to shareholders, while IAAA.L's dividend yield for the trailing twelve months is around 2.69%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAAA.L iShares Global AAA-AA Government Bond UCITS | 2.69% | 2.46% | 2.37% | 1.52% | 0.76% | 0.49% | 0.56% | 0.88% | 0.94% | 0.77% | 0.89% | 1.08% |
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% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IGLA.L and IAAA.L have a correlation of 0.57, 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 IAAA.L have the same expense ratio: 0.20% per year.
Both ETFs track Bloomberg Global Aggregate TR USD.
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