IGLS.L vs. IBTM.L
IGLS.L (iShares UK Gilts 0-5yr UCITS ETF GBP (Dist)) and IBTM.L (iShares USD Treasury Bond 7-10yr UCITS ETF (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 IBTM.L is a Government Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index. Both are passively managed. Over the past 10 years, IGLS.L returned 0.91%/yr vs 1.18%/yr for IBTM.L. At a 0.47 correlation, their price movements are largely independent. Both charge a 0.07% expense ratio.
Performance
IGLS.L vs. IBTM.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 higher than IBTM.L's -0.44% return. Over the past 10 years, IGLS.L has underperformed IBTM.L with an annualized return of 0.91%, while IBTM.L has yielded a comparatively higher 1.18% annualized 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%
IBTM.L
- 1D
- -0.27%
- 1M
- 1.13%
- YTD
- -0.44%
- 6M
- -0.61%
- 1Y
- 4.98%
- 3Y*
- 0.81%
- 5Y*
- -0.07%
- 10Y*
- 1.18%
IGLS.L vs. IBTM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.14% | -0.38% |
IBTM.L iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) | -0.44% | 0.89% | 1.46% | -2.26% | -4.74% | -1.77% | 6.02% | 5.50% | 6.50% | -6.47% |
Correlation
The correlation between IGLS.L and IBTM.L is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Apr 17, 2009 | 0.47 |
Over the past year, the correlation between IGLS.L and IBTM.L has dropped to 0.11 - well below their long-term average of 0.47, suggesting their price drivers have been diverging.
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Return for Risk
IGLS.L vs. IBTM.L — Risk / Return Rank
IGLS.L
IBTM.L
IGLS.L vs. IBTM.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 USD Treasury Bond 7-10yr UCITS ETF (Dist) (IBTM.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 | IBTM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.70 | ||
| Sortino ratioReturn per unit of downside risk | +0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.14 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | 0.89 | +0.63 |
| Martin ratioReturn relative to average drawdown | 5.12 | 2.08 | +3.04 |
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Drawdowns
IGLS.L vs. IBTM.L - Drawdown Comparison
The maximum IGLS.L drawdown since its inception was -9.54%, smaller than the maximum IBTM.L drawdown of -52.39%. Use the drawdown chart below to compare losses from any high point for IGLS.L and IBTM.L.
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Drawdown Indicators
| IGLS.L | IBTM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.54% | -52.39% | +42.85% |
Max Drawdown (1Y)Largest decline over 1 year | -1.95% | -5.57% | +3.62% |
Max Drawdown (3Y)Largest decline over 3 years | -1.95% | -7.57% | +5.62% |
Max Drawdown (5Y)Largest decline over 5 years | -8.85% | -16.29% | +7.44% |
Max Drawdown (10Y)Largest decline over 10 years | -9.54% | -26.54% | +17.00% |
Current DrawdownCurrent decline from peak | -0.38% | -21.38% | +21.00% |
Average DrawdownAverage peak-to-trough decline | -1.19% | -20.63% | +19.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.58% | 2.38% | -1.80% |
Volatility
IGLS.L vs. IBTM.L - Volatility Comparison
The current volatility for iShares UK Gilts 0-5yr UCITS ETF GBP (Dist) (IGLS.L) is 0.66%, while iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) (IBTM.L) has a volatility of 1.55%. This indicates that IGLS.L experiences smaller price fluctuations and is considered to be less risky than IBTM.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 | IBTM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.66% | 1.55% | -0.89% |
Volatility (6M)Calculated over the trailing 6-month period | 1.76% | 4.49% | -2.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.99% | 6.25% | -4.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.67% | 9.47% | -6.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.18% | 10.58% | -8.40% |
IGLS.L vs. IBTM.L - Expense Ratio Comparison
Both IGLS.L and IBTM.L have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IGLS.L vs. IBTM.L - Dividend Comparison
IGLS.L's dividend yield for the trailing twelve months is around 3.97%, less than IBTM.L's 4.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBTM.L iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) | 4.36% | 4.19% | 3.94% | 3.16% | 1.96% | 1.14% | 1.69% | 2.53% | 2.34% | 2.02% | 1.79% | 1.97% |
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 IBTM.L have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.07% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
IGLS.L and IBTM.L have the same expense ratio: 0.07% per year.
IGLS.L is categorized as European Government Bonds, while IBTM.L is Government Bonds. IGLS.L tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP, while IBTM.L tracks ICE U.S. Treasury 7-10 Year Bond Index.
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