IGLS.L vs. CEUG.L
IGLS.L (iShares UK Gilts 0-5yr UCITS ETF GBP (Dist)) and CEUG.L (iShares MSCI EMU UCITS ETF GBP Hedged (Dist)) are both exchange-traded funds - IGLS.L is a European Government Bonds fund tracking the FTSE Act UK Cnvt Gilts All Stocks TR GBP, while CEUG.L is a Europe Equities fund tracking the MSCI Europe NR EUR. Both are passively managed. Over the past 5 years, IGLS.L returned 1.36%/yr vs 12.17%/yr for CEUG.L. At a 0.01 correlation, their price movements are largely independent. IGLS.L charges 0.07%/yr vs 0.12%/yr for CEUG.L.
Performance
IGLS.L vs. CEUG.L - Performance Comparison
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Returns By Period
In the year-to-date period, IGLS.L achieves a 0.53% return, which is significantly lower than CEUG.L's 11.57% return.
IGLS.L
- 1D
- 0.21%
- 1M
- 0.79%
- YTD
- 0.53%
- 6M
- 1.02%
- 1Y
- 2.97%
- 3Y*
- 4.62%
- 5Y*
- 1.36%
- 10Y*
- 0.91%
CEUG.L
- 1D
- 2.06%
- 1M
- 5.84%
- YTD
- 11.57%
- 6M
- 13.31%
- 1Y
- 22.80%
- 3Y*
- 18.00%
- 5Y*
- 12.17%
- 10Y*
- —
IGLS.L vs. CEUG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IGLS.L iShares UK Gilts 0-5yr UCITS ETF GBP (Dist) | 0.53% | 5.26% | 2.65% | 4.19% | -4.44% | -1.68% | 1.48% | 1.05% | 0.27% |
CEUG.L iShares MSCI EMU UCITS ETF GBP Hedged (Dist) | 11.57% | 26.85% | 10.80% | 20.45% | -10.50% | 22.91% | -0.24% | 26.08% | -12.18% |
Correlation
The correlation between IGLS.L and CEUG.L is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since May 31, 2018 | 0.01 |
Over the past year, IGLS.L and CEUG.L have become more correlated (0.34) than their long-term average of 0.01, meaning their price movements have been converging.
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Return for Risk
IGLS.L vs. CEUG.L — Risk / Return Rank
IGLS.L
CEUG.L
IGLS.L vs. CEUG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares UK Gilts 0-5yr UCITS ETF GBP (Dist) (IGLS.L) and iShares MSCI EMU UCITS ETF GBP Hedged (Dist) (CEUG.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.
| IGLS.L | CEUG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.30 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | 2.26 | -0.74 |
| Martin ratioReturn relative to average drawdown | 5.12 | 8.53 | -3.41 |
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Drawdowns
IGLS.L vs. CEUG.L - Drawdown Comparison
The maximum IGLS.L drawdown since its inception was -9.54%, smaller than the maximum CEUG.L drawdown of -38.52%. Use the drawdown chart below to compare losses from any high point for IGLS.L and CEUG.L.
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Drawdown Indicators
| IGLS.L | CEUG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.54% | -38.52% | +28.98% |
Max Drawdown (1Y)Largest decline over 1 year | -1.95% | -10.04% | +8.09% |
Max Drawdown (3Y)Largest decline over 3 years | -1.95% | -15.35% | +13.40% |
Max Drawdown (5Y)Largest decline over 5 years | -8.85% | -24.06% | +15.21% |
Max Drawdown (10Y)Largest decline over 10 years | -9.54% | — | — |
Current DrawdownCurrent decline from peak | -0.38% | 0.00% | -0.38% |
Average DrawdownAverage peak-to-trough decline | -1.19% | -5.50% | +4.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.58% | 2.67% | -2.09% |
Volatility
IGLS.L vs. CEUG.L - Volatility Comparison
The current volatility for iShares UK Gilts 0-5yr UCITS ETF GBP (Dist) (IGLS.L) is 0.66%, while iShares MSCI EMU UCITS ETF GBP Hedged (Dist) (CEUG.L) has a volatility of 4.17%. This indicates that IGLS.L experiences smaller price fluctuations and is considered to be less risky than CEUG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGLS.L | CEUG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.66% | 4.17% | -3.51% |
Volatility (6M)Calculated over the trailing 6-month period | 1.76% | 11.63% | -9.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.99% | 14.27% | -12.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.67% | 16.25% | -13.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.18% | 18.09% | -15.91% |
IGLS.L vs. CEUG.L - Expense Ratio Comparison
IGLS.L has a 0.07% expense ratio, which is lower than CEUG.L's 0.12% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IGLS.L vs. CEUG.L - Dividend Comparison
IGLS.L's dividend yield for the trailing twelve months is around 3.97%, more than CEUG.L's 2.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEUG.L iShares MSCI EMU UCITS ETF GBP Hedged (Dist) | 2.32% | 2.53% | 2.81% | 2.73% | 2.84% | 1.81% | 1.77% | 3.05% | 0.38% | 0.00% | 0.00% | 0.00% |
IGLS.L iShares UK Gilts 0-5yr UCITS ETF GBP (Dist) | 3.97% | 3.88% | 3.67% | 1.62% | 0.30% | 0.25% | 0.53% | 0.46% | 0.33% | 0.53% | 0.88% | 0.48% |
Frequently Asked Questions
IGLS.L and CEUG.L have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGLS.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGLS.L is cheaper with a 0.07% expense ratio, compared with 0.12% for CEUG.L.
IGLS.L is categorized as European Government Bonds, while CEUG.L is Europe Equities. IGLS.L tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP, while CEUG.L tracks MSCI Europe NR EUR. Their fees differ too: 0.07% for IGLS.L and 0.12% for CEUG.L.
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