IGLO.L vs. CMFP.L
IGLO.L (iShares Global Government Bond UCITS) and CMFP.L (L&G Longer Dated All Commodities UCITS ETF) are both exchange-traded funds - IGLO.L is a Global Bonds fund tracking the Bloomberg Global Aggregate TR USD, while CMFP.L is a Commodities fund tracking the Bloomberg Commodity 3 Month Forward. Both are passively managed. Over the past 10 years, IGLO.L returned -0.99%/yr vs 7.48%/yr for CMFP.L. At a 0.02 correlation, their price movements are largely independent. IGLO.L charges 0.20%/yr vs 0.30%/yr for CMFP.L.
Performance
IGLO.L vs. CMFP.L - Performance Comparison
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Different Trading Currencies
IGLO.L is traded in USD, while CMFP.L is traded in GBp. To make them comparable, the CMFP.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IGLO.L achieves a -1.52% return, which is significantly lower than CMFP.L's 9.75% return. Over the past 10 years, IGLO.L has underperformed CMFP.L with an annualized return of -0.99%, while CMFP.L has yielded a comparatively higher 7.48% annualized return.
IGLO.L
- 1D
- 0.14%
- 1M
- -0.03%
- YTD
- -1.52%
- 6M
- -1.54%
- 1Y
- -1.18%
- 3Y*
- 1.41%
- 5Y*
- -3.17%
- 10Y*
- -0.99%
CMFP.L
- 1D
- -0.19%
- 1M
- -7.30%
- YTD
- 9.75%
- 6M
- 8.48%
- 1Y
- 19.90%
- 3Y*
- 10.53%
- 5Y*
- 10.67%
- 10Y*
- 7.48%
IGLO.L vs. CMFP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGLO.L iShares Global Government Bond UCITS | -1.52% | 7.14% | -3.65% | 4.00% | -17.69% | -6.89% | 9.37% | 5.54% | -0.30% | 6.12% |
CMFP.L L&G Longer Dated All Commodities UCITS ETF | 9.75% | 16.67% | 5.08% | -6.76% | 18.60% | 33.39% | 2.11% | 8.16% | -8.64% | 2.76% |
Correlation
The correlation between IGLO.L and CMFP.L is -0.21, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Mar 15, 2010 | 0.02 |
The correlation between IGLO.L and CMFP.L shifts across timeframes, from -0.21 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IGLO.L vs. CMFP.L — Risk / Return Rank
IGLO.L
CMFP.L
IGLO.L vs. CMFP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Government Bond UCITS (IGLO.L) and L&G Longer Dated All Commodities UCITS ETF (CMFP.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.
| IGLO.L | CMFP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.60 | ||
| Sortino ratioReturn per unit of downside risk | -2.15 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.25 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.28 | 1.65 | -1.92 |
| Martin ratioReturn relative to average drawdown | -0.64 | 6.69 | -7.33 |
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Drawdowns
IGLO.L vs. CMFP.L - Drawdown Comparison
The maximum IGLO.L drawdown since its inception was -28.01%, smaller than the maximum CMFP.L drawdown of -72.10%. Use the drawdown chart below to compare losses from any high point for IGLO.L and CMFP.L.
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Drawdown Indicators
| IGLO.L | CMFP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.01% | -72.10% | +44.09% |
Max Drawdown (1Y)Largest decline over 1 year | -4.28% | -12.01% | +7.73% |
Max Drawdown (3Y)Largest decline over 3 years | -7.93% | -23.04% | +15.11% |
Max Drawdown (5Y)Largest decline over 5 years | -25.88% | -23.04% | -2.84% |
Max Drawdown (10Y)Largest decline over 10 years | -28.01% | -30.49% | +2.48% |
Current DrawdownCurrent decline from peak | -18.99% | -24.69% | +5.70% |
Average DrawdownAverage peak-to-trough decline | -9.05% | -49.82% | +40.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.86% | 2.97% | -1.11% |
Volatility
IGLO.L vs. CMFP.L - Volatility Comparison
The current volatility for iShares Global Government Bond UCITS (IGLO.L) is 1.57%, while L&G Longer Dated All Commodities UCITS ETF (CMFP.L) has a volatility of 3.62%. This indicates that IGLO.L experiences smaller price fluctuations and is considered to be less risky than CMFP.L 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 | CMFP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.57% | 3.62% | -2.05% |
Volatility (6M)Calculated over the trailing 6-month period | 4.38% | 12.52% | -8.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.85% | 14.20% | -8.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.47% | 20.38% | -12.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.66% | 16.60% | -9.94% |
IGLO.L vs. CMFP.L - Expense Ratio Comparison
IGLO.L has a 0.20% expense ratio, which is lower than CMFP.L's 0.30% expense ratio.
Dividends
IGLO.L vs. CMFP.L - Dividend Comparison
IGLO.L's dividend yield for the trailing twelve months is around 3.09%, while CMFP.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMFP.L L&G Longer Dated All Commodities UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 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 CMFP.L have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGLO.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGLO.L is cheaper with a 0.20% expense ratio, compared with 0.30% for CMFP.L.
IGLO.L is categorized as Global Bonds, while CMFP.L is Commodities. IGLO.L tracks Bloomberg Global Aggregate TR USD, while CMFP.L tracks Bloomberg Commodity 3 Month Forward. They also come from different issuers: iShares and Legal & General. Their fees differ too: 0.20% for IGLO.L and 0.30% for CMFP.L.
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