IGLO.L vs. BNDW
IGLO.L (iShares Global Government Bond UCITS) and BNDW (Vanguard Total World Bond ETF) are both Global Bonds funds - IGLO.L tracks the Bloomberg Global Aggregate TR USD while BNDW tracks the Bloomberg Global Aggregate Float Adjusted Composite Index. Both are passively managed. Over the past 5 years, IGLO.L returned -3.35%/yr vs 0.25%/yr for BNDW. A 0.65 correlation means they provide meaningful diversification when combined. IGLO.L charges 0.20%/yr vs 0.05%/yr for BNDW.
Performance
IGLO.L vs. BNDW - Performance Comparison
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Returns By Period
In the year-to-date period, IGLO.L achieves a -1.63% return, which is significantly lower than BNDW's 0.54% return.
IGLO.L
- 1D
- 0.19%
- 1M
- -0.07%
- YTD
- -1.63%
- 6M
- -1.00%
- 1Y
- -0.09%
- 3Y*
- 1.45%
- 5Y*
- -3.35%
- 10Y*
- -0.82%
BNDW
- 1D
- 0.12%
- 1M
- 0.42%
- YTD
- 0.54%
- 6M
- 0.44%
- 1Y
- 3.25%
- 3Y*
- 4.07%
- 5Y*
- 0.25%
- 10Y*
- —
IGLO.L vs. BNDW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IGLO.L iShares Global Government Bond UCITS | -1.63% | 7.14% | -3.65% | 4.00% | -17.69% | -6.89% | 9.38% | 5.53% | 1.17% |
BNDW Vanguard Total World Bond ETF | 0.54% | 5.02% | 2.42% | 7.18% | -12.88% | -2.10% | 6.22% | 8.37% | 1.21% |
Correlation
The correlation between IGLO.L and BNDW is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2018 | 0.65 |
The correlation between IGLO.L and BNDW has been stable across timeframes, ranging from 0.64 to 0.70 - a consistent structural relationship.
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Return for Risk
IGLO.L vs. BNDW — Risk / Return Rank
IGLO.L
BNDW
IGLO.L vs. BNDW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Government Bond UCITS (IGLO.L) and Vanguard Total World Bond ETF (BNDW). 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.
| IGLO.L | BNDW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.99 | ||
| Sortino ratioReturn per unit of downside risk | -1.37 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.17 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 1.21 | -1.23 |
| Martin ratioReturn relative to average drawdown | -0.05 | 3.42 | -3.47 |
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
| IGLO.L | BNDW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.02 | 0.98 | -0.99 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.45 | 0.05 | -0.50 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.12 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.38 | -0.25 |
Drawdowns
IGLO.L vs. BNDW - Drawdown Comparison
The maximum IGLO.L drawdown since its inception was -28.01%, which is greater than BNDW's maximum drawdown of -17.22%. Use the drawdown chart below to compare losses from any high point for IGLO.L and BNDW.
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Drawdown Indicators
| IGLO.L | BNDW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.01% | -17.22% | -10.79% |
Max Drawdown (1Y)Largest decline over 1 year | -4.28% | -2.70% | -1.58% |
Max Drawdown (3Y)Largest decline over 3 years | -7.93% | -4.27% | -3.66% |
Max Drawdown (5Y)Largest decline over 5 years | -25.88% | -16.93% | -8.95% |
Max Drawdown (10Y)Largest decline over 10 years | -28.01% | — | — |
Current DrawdownCurrent decline from peak | -19.08% | -1.42% | -17.66% |
Average DrawdownAverage peak-to-trough decline | -8.75% | -4.98% | -3.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.67% | 0.96% | +0.71% |
Volatility
IGLO.L vs. BNDW - Volatility Comparison
iShares Global Government Bond UCITS (IGLO.L) has a higher volatility of 2.20% compared to Vanguard Total World Bond ETF (BNDW) at 1.31%. This indicates that IGLO.L's price experiences larger fluctuations and is considered to be riskier than BNDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGLO.L | BNDW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.20% | 1.31% | +0.89% |
Volatility (6M)Calculated over the trailing 6-month period | 4.36% | 2.63% | +1.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.89% | 3.36% | +2.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.46% | 5.21% | +2.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.66% | 4.90% | +1.76% |
IGLO.L vs. BNDW - Expense Ratio Comparison
IGLO.L has a 0.20% expense ratio, which is higher than BNDW's 0.05% 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
IGLO.L vs. BNDW - Dividend Comparison
IGLO.L's dividend yield for the trailing twelve months is around 3.09%, less than BNDW's 4.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BNDW Vanguard Total World Bond ETF | 4.21% | 4.12% | 3.90% | 3.73% | 2.02% | 2.58% | 1.56% | 3.05% | 1.66% | 0.00% | 0.00% | 0.00% |
IGLO.L iShares Global Government Bond UCITS | 3.09% | 2.86% | 2.51% | 1.47% | 0.78% | 0.63% | 0.99% | 1.21% | 1.07% | 0.93% | 1.09% | 0.60% |
Frequently Asked Questions
IGLO.L and BNDW have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BNDW is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BNDW is cheaper with a 0.05% expense ratio, compared with 0.20% for IGLO.L.
IGLO.L tracks Bloomberg Global Aggregate TR USD, while BNDW tracks Bloomberg Global Aggregate Float Adjusted Composite Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.20% for IGLO.L and 0.05% for BNDW.
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