IGLS.L vs. GSPX.L
IGLS.L (iShares UK Gilts 0-5yr UCITS ETF GBP (Dist)) and GSPX.L (iShares Core S&P 500 UCITS ETF) 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 GSPX.L is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, IGLS.L returned 1.36%/yr vs 12.13%/yr for GSPX.L. At a correlation of -0.00, they often move in opposite directions. IGLS.L charges 0.07%/yr vs 0.10%/yr for GSPX.L.
Performance
IGLS.L vs. GSPX.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 GSPX.L's 8.24% 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%
GSPX.L
- 1D
- 2.38%
- 1M
- 0.64%
- YTD
- 8.24%
- 6M
- 9.38%
- 1Y
- 24.05%
- 3Y*
- 20.06%
- 5Y*
- 12.13%
- 10Y*
- —
IGLS.L vs. GSPX.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% | 0.31% |
GSPX.L iShares Core S&P 500 UCITS ETF | 8.24% | 17.16% | 24.72% | 24.87% | -20.64% | 28.96% | 15.11% | 27.76% | -7.71% |
Correlation
The correlation between IGLS.L and GSPX.L is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2018 | -0.00 |
The correlation between IGLS.L and GSPX.L shifts across timeframes, from -0.00 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IGLS.L vs. GSPX.L — Risk / Return Rank
IGLS.L
GSPX.L
IGLS.L vs. GSPX.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 Core S&P 500 UCITS ETF (GSPX.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 | GSPX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.51 | ||
| Sortino ratioReturn per unit of downside risk | -0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.36 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | 2.86 | -1.35 |
| Martin ratioReturn relative to average drawdown | 5.12 | 12.14 | -7.02 |
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Drawdowns
IGLS.L vs. GSPX.L - Drawdown Comparison
The maximum IGLS.L drawdown since its inception was -9.54%, smaller than the maximum GSPX.L drawdown of -34.98%. Use the drawdown chart below to compare losses from any high point for IGLS.L and GSPX.L.
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Drawdown Indicators
| IGLS.L | GSPX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.54% | -34.98% | +25.44% |
Max Drawdown (1Y)Largest decline over 1 year | -1.95% | -8.37% | +6.42% |
Max Drawdown (3Y)Largest decline over 3 years | -1.95% | -18.97% | +17.02% |
Max Drawdown (5Y)Largest decline over 5 years | -8.85% | -25.80% | +16.95% |
Max Drawdown (10Y)Largest decline over 10 years | -9.54% | — | — |
Current DrawdownCurrent decline from peak | -0.38% | -2.12% | +1.74% |
Average DrawdownAverage peak-to-trough decline | -1.19% | -5.61% | +4.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.58% | 1.98% | -1.40% |
Volatility
IGLS.L vs. GSPX.L - Volatility Comparison
The current volatility for iShares UK Gilts 0-5yr UCITS ETF GBP (Dist) (IGLS.L) is 0.66%, while iShares Core S&P 500 UCITS ETF (GSPX.L) has a volatility of 4.22%. This indicates that IGLS.L experiences smaller price fluctuations and is considered to be less risky than GSPX.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 | GSPX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.66% | 4.22% | -3.56% |
Volatility (6M)Calculated over the trailing 6-month period | 1.76% | 9.03% | -7.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.99% | 11.98% | -9.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.67% | 16.12% | -13.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.18% | 17.69% | -15.51% |
IGLS.L vs. GSPX.L - Expense Ratio Comparison
IGLS.L has a 0.07% expense ratio, which is lower than GSPX.L's 0.10% 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. GSPX.L - Dividend Comparison
IGLS.L's dividend yield for the trailing twelve months is around 3.97%, more than GSPX.L's 0.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GSPX.L iShares Core S&P 500 UCITS ETF | 0.82% | 0.89% | 0.99% | 1.15% | 1.40% | 0.96% | 1.31% | 1.50% | 0.11% | 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 GSPX.L have a correlation of 0.28, 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 0.10% for GSPX.L.
IGLS.L is categorized as European Government Bonds, while GSPX.L is S&P 500. IGLS.L tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP, while GSPX.L tracks S&P 500 Index. Their fees differ too: 0.07% for IGLS.L and 0.10% for GSPX.L.
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