IGLO.L vs. GLD
IGLO.L (iShares Global Government Bond UCITS) and GLD (SPDR Gold Shares) are both exchange-traded funds - IGLO.L is a Global Bonds fund tracking the Bloomberg Global Aggregate TR USD, while GLD is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 10 years, IGLO.L returned -0.82%/yr vs 13.21%/yr for GLD. At a 0.32 correlation, their price movements are largely independent. IGLO.L charges 0.20%/yr vs 0.40%/yr for GLD.
Performance
IGLO.L vs. GLD - 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 GLD's 3.77% return. Over the past 10 years, IGLO.L has underperformed GLD with an annualized return of -0.82%, while GLD has yielded a comparatively higher 13.21% annualized 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%
GLD
- 1D
- 0.83%
- 1M
- -1.67%
- YTD
- 3.77%
- 6M
- 6.24%
- 1Y
- 32.28%
- 3Y*
- 31.19%
- 5Y*
- 18.35%
- 10Y*
- 13.21%
IGLO.L vs. GLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGLO.L iShares Global Government Bond UCITS | -1.63% | 7.14% | -3.65% | 4.00% | -17.69% | -6.89% | 9.38% | 5.53% | -0.30% | 6.12% |
GLD SPDR Gold Shares | 3.77% | 63.68% | 26.66% | 12.69% | -0.77% | -4.15% | 24.81% | 17.86% | -1.94% | 12.81% |
Correlation
The correlation between IGLO.L and GLD is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 2009 | 0.32 |
The correlation between IGLO.L and GLD shifts across timeframes, from 0.27 (3 years) to 0.39 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
IGLO.L vs. GLD — Risk / Return Rank
IGLO.L
GLD
IGLO.L vs. GLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Government Bond UCITS (IGLO.L) and SPDR Gold Shares (GLD). 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 | GLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.23 | ||
| Sortino ratioReturn per unit of downside risk | -1.59 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.24 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 1.69 | -1.71 |
| Martin ratioReturn relative to average drawdown | -0.05 | 4.15 | -4.20 |
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 | GLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.02 | 1.22 | -1.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.45 | 1.02 | -1.47 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.12 | 0.83 | -0.95 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.60 | -0.48 |
Drawdowns
IGLO.L vs. GLD - Drawdown Comparison
The maximum IGLO.L drawdown since its inception was -28.01%, smaller than the maximum GLD drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for IGLO.L and GLD.
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Drawdown Indicators
| IGLO.L | GLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.01% | -45.56% | +17.55% |
Max Drawdown (1Y)Largest decline over 1 year | -4.28% | -19.21% | +14.93% |
Max Drawdown (3Y)Largest decline over 3 years | -7.93% | -19.21% | +11.28% |
Max Drawdown (5Y)Largest decline over 5 years | -25.88% | -21.03% | -4.85% |
Max Drawdown (10Y)Largest decline over 10 years | -28.01% | -22.00% | -6.01% |
Current DrawdownCurrent decline from peak | -19.08% | -17.07% | -2.01% |
Average DrawdownAverage peak-to-trough decline | -8.75% | -16.16% | +7.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.67% | 7.81% | -6.14% |
Volatility
IGLO.L vs. GLD - Volatility Comparison
The current volatility for iShares Global Government Bond UCITS (IGLO.L) is 2.20%, while SPDR Gold Shares (GLD) has a volatility of 5.50%. This indicates that IGLO.L experiences smaller price fluctuations and is considered to be less risky than GLD 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 | GLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.20% | 5.50% | -3.30% |
Volatility (6M)Calculated over the trailing 6-month period | 4.36% | 23.16% | -18.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.89% | 26.60% | -20.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.46% | 18.00% | -10.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.66% | 15.95% | -9.29% |
IGLO.L vs. GLD - Expense Ratio Comparison
IGLO.L has a 0.20% expense ratio, which is lower than GLD's 0.40% expense ratio.
Dividends
IGLO.L vs. GLD - Dividend Comparison
IGLO.L's dividend yield for the trailing twelve months is around 3.09%, while GLD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLD SPDR Gold Shares | 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 GLD have a correlation of 0.30, 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 0.40% for GLD.
IGLO.L is categorized as Global Bonds, while GLD is Gold. IGLO.L tracks Bloomberg Global Aggregate TR USD, while GLD tracks LBMA Gold Price PM. They also come from different issuers: iShares and State Street. Their fees differ too: 0.20% for IGLO.L and 0.40% for GLD.
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