IGLH.L vs. IRCP.L
IGLH.L (iShares Global Government Bond UCITS ETF GBP Hedged (Dist)) and IRCP.L (iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist)) are both exchange-traded funds - IGLH.L is a Global Bonds fund tracking the Bloomberg Global Aggregate TR Hdg GBP, while IRCP.L is a European Corporate Bonds fund tracking the Bloomberg MSCI EUR Corporate Interest Rate Hedged ESG SRI Index. Both are passively managed. Over the past 5 years, IGLH.L returned -1.71%/yr vs 2.55%/yr for IRCP.L. At a correlation of -0.05, they often move in opposite directions. Both charge a 0.25% expense ratio.
Performance
IGLH.L vs. IRCP.L - Performance Comparison
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Different Trading Currencies
IGLH.L is traded in GBP, while IRCP.L is traded in EUR. To make them comparable, the IRCP.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, IGLH.L achieves a 0.91% return, which is significantly higher than IRCP.L's -1.09% return.
IGLH.L
- 1D
- 0.22%
- 1M
- -0.62%
- 6M
- -0.41%
- YTD
- 0.91%
- 1Y
- 0.25%
- 3Y*
- 1.62%
- 5Y*
- -1.71%
- 10Y*
- —
IRCP.L
- 1D
- 0.11%
- 1M
- -1.28%
- 6M
- -0.66%
- YTD
- -1.09%
- 1Y
- 1.33%
- 3Y*
- 4.68%
- 5Y*
- 2.55%
- 10Y*
- 1.68%
IGLH.L vs. IRCP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IGLH.L iShares Global Government Bond UCITS ETF GBP Hedged (Dist) | 0.91% | 0.70% | 0.62% | 4.79% | -13.58% | -2.41% | 5.04% | 5.45% | 1.12% |
IRCP.L iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) | -1.09% | 9.79% | 1.63% | 3.04% | 2.28% | -6.16% | 6.54% | -1.90% | -0.60% |
Correlation
The correlation between IGLH.L and IRCP.L is -0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2018 | -0.05 |
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Return for Risk
IGLH.L vs. IRCP.L — Risk / Return Rank
IGLH.L
IRCP.L
IGLH.L vs. IRCP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Government Bond UCITS ETF GBP Hedged (Dist) (IGLH.L) and iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) (IRCP.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.
| IGLH.L | IRCP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.05 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.06 | 0.52 | -0.46 |
| Martin ratioReturn relative to average drawdown | 0.14 | 1.51 | -1.36 |
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Drawdowns
IGLH.L vs. IRCP.L - Drawdown Comparison
The maximum IGLH.L drawdown since its inception was -18.42%, roughly equal to the maximum IRCP.L drawdown of -19.15%. Use the drawdown chart below to compare losses from any high point for IGLH.L and IRCP.L.
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Drawdown Indicators
| IGLH.L | IRCP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.42% | -19.15% | +0.73% |
Max Drawdown (1Y)Largest decline over 1 year | -3.85% | -2.55% | -1.30% |
Max Drawdown (3Y)Largest decline over 3 years | -4.15% | -2.55% | -1.60% |
Max Drawdown (5Y)Largest decline over 5 years | -16.83% | -8.09% | -8.74% |
Max Drawdown (10Y)Largest decline over 10 years | — | -12.86% | — |
Current DrawdownCurrent decline from peak | -10.70% | -2.16% | -8.54% |
Average DrawdownAverage peak-to-trough decline | -7.44% | -5.61% | -1.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.72% | 0.88% | +0.84% |
Volatility
IGLH.L vs. IRCP.L - Volatility Comparison
iShares Global Government Bond UCITS ETF GBP Hedged (Dist) (IGLH.L) has a higher volatility of 1.19% compared to iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) (IRCP.L) at 1.09%. This indicates that IGLH.L's price experiences larger fluctuations and is considered to be riskier than IRCP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGLH.L | IRCP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.19% | 1.09% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 3.31% | 3.51% | -0.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.72% | 4.65% | +1.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.67% | 6.05% | -0.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.93% | 7.09% | -2.16% |
IGLH.L vs. IRCP.L - Expense Ratio Comparison
Both IGLH.L and IRCP.L have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IGLH.L vs. IRCP.L - Dividend Comparison
IGLH.L's dividend yield for the trailing twelve months is around 1.59%, less than IRCP.L's 2.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGLH.L iShares Global Government Bond UCITS ETF GBP Hedged (Dist) | 1.59% | 2.91% | 2.33% | 1.40% | 0.73% | 0.55% | 0.97% | 1.19% | 0.32% | 0.00% | 0.00% | 0.00% |
IRCP.L iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) | 2.58% | 2.91% | 3.70% | 2.52% | 0.43% | 0.70% | 0.82% | 0.92% | 0.58% | 0.71% | 1.35% | 1.47% |
Frequently Asked Questions
IGLH.L and IRCP.L have a correlation of -0.00, 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 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
IGLH.L and IRCP.L have the same expense ratio: 0.25% per year.
IGLH.L is categorized as Global Bonds, while IRCP.L is European Corporate Bonds. IGLH.L tracks Bloomberg Global Aggregate TR Hdg GBP, while IRCP.L tracks Bloomberg MSCI EUR Corporate Interest Rate Hedged ESG SRI Index.
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