IGLH.L vs. SAAA.L
IGLH.L (iShares Global Government Bond UCITS ETF GBP Hedged (Dist)) and SAAA.L (iShares Global AAA-AA Government Bond UCITS ETF (Dist)) are both Global Bonds funds from iShares - IGLH.L tracks the Bloomberg Global Aggregate TR Hdg GBP while SAAA.L tracks the Bloomberg Global Aggregate TR USD. Both are passively managed. Over the past 5 years, IGLH.L returned -1.16%/yr vs -1.97%/yr for SAAA.L. A 0.60 correlation means they provide meaningful diversification when combined. IGLH.L charges 0.25%/yr vs 0.20%/yr for SAAA.L.
Performance
IGLH.L vs. SAAA.L - Performance Comparison
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Returns By Period
In the year-to-date period, IGLH.L achieves a 2.41% return, which is significantly higher than SAAA.L's 0.29% return.
IGLH.L
- 1D
- -0.30%
- 1M
- 0.13%
- YTD
- 2.41%
- 6M
- -0.35%
- 1Y
- 1.81%
- 3Y*
- 2.04%
- 5Y*
- -1.16%
- 10Y*
- —
SAAA.L
- 1D
- 0.19%
- 1M
- 0.80%
- YTD
- 0.29%
- 6M
- 0.21%
- 1Y
- 3.05%
- 3Y*
- 1.29%
- 5Y*
- -1.97%
- 10Y*
- 0.39%
IGLH.L vs. SAAA.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) | 2.41% | 0.63% | 0.79% | 4.70% | -13.61% | -2.47% | 5.04% | 5.48% | 0.88% |
SAAA.L iShares Global AAA-AA Government Bond UCITS ETF (Dist) | 0.29% | 2.96% | -3.46% | 2.32% | -11.40% | -6.94% | 8.12% | 1.61% | 5.91% |
Correlation
The correlation between IGLH.L and SAAA.L is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2018 | 0.60 |
The correlation between IGLH.L and SAAA.L shifts across timeframes, from 0.44 (1 year) to 0.66 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IGLH.L vs. SAAA.L — Risk / Return Rank
IGLH.L
SAAA.L
IGLH.L vs. SAAA.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 Global AAA-AA Government Bond UCITS ETF (Dist) (SAAA.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.
| IGLH.L | SAAA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.11 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.52 | 0.79 | -0.27 |
| Martin ratioReturn relative to average drawdown | 1.55 | 1.74 | -0.18 |
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
| IGLH.L | SAAA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.33 | 0.67 | -0.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.21 | -0.29 | +0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.05 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.06 | 0.12 | -0.06 |
Drawdowns
IGLH.L vs. SAAA.L - Drawdown Comparison
The maximum IGLH.L drawdown since its inception was -18.45%, smaller than the maximum SAAA.L drawdown of -24.70%. Use the drawdown chart below to compare losses from any high point for IGLH.L and SAAA.L.
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Drawdown Indicators
| IGLH.L | SAAA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.45% | -24.70% | +6.25% |
Max Drawdown (1Y)Largest decline over 1 year | -3.39% | -3.83% | +0.44% |
Max Drawdown (3Y)Largest decline over 3 years | -4.52% | -5.68% | +1.16% |
Max Drawdown (5Y)Largest decline over 5 years | -16.90% | -18.85% | +1.95% |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.70% | — |
Current DrawdownCurrent decline from peak | -9.40% | -18.59% | +9.19% |
Average DrawdownAverage peak-to-trough decline | -7.36% | -9.88% | +2.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.14% | 1.75% | -0.61% |
Volatility
IGLH.L vs. SAAA.L - Volatility Comparison
iShares Global Government Bond UCITS ETF GBP Hedged (Dist) (IGLH.L) has a higher volatility of 1.54% compared to iShares Global AAA-AA Government Bond UCITS ETF (Dist) (SAAA.L) at 1.36%. This indicates that IGLH.L's price experiences larger fluctuations and is considered to be riskier than SAAA.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 | SAAA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.54% | 1.36% | +0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 4.80% | 3.45% | +1.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.35% | 4.50% | +0.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.43% | 6.75% | -1.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.75% | 7.86% | -3.11% |
IGLH.L vs. SAAA.L - Expense Ratio Comparison
IGLH.L has a 0.25% expense ratio, which is higher than SAAA.L's 0.20% 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
IGLH.L vs. SAAA.L - Dividend Comparison
IGLH.L's dividend yield for the trailing twelve months is around 2.98%, more than SAAA.L's 2.68% 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) | 2.98% | 2.91% | 2.33% | 1.40% | 0.73% | 0.55% | 0.97% | 1.19% | 0.32% | 0.00% | 0.00% | 0.00% |
SAAA.L iShares Global AAA-AA Government Bond UCITS ETF (Dist) | 2.68% | 2.48% | 2.34% | 1.57% | 0.76% | 0.48% | 0.61% | 0.89% | 0.87% | 0.81% | 0.83% | 1.06% |
Frequently Asked Questions
IGLH.L and SAAA.L have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SAAA.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SAAA.L is cheaper with a 0.20% expense ratio, compared with 0.25% for IGLH.L.
IGLH.L tracks Bloomberg Global Aggregate TR Hdg GBP, while SAAA.L tracks Bloomberg Global Aggregate TR USD. Their fees differ too: 0.25% for IGLH.L and 0.20% for SAAA.L.
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