IGLT.L vs. BBM3.L
IGLT.L (iShares Core UK Gilts UCITS ETF) and BBM3.L (JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc)) are both Government Bonds funds - IGLT.L tracks the FTSE Actuaries UK Conventional Gilts All Stocks Index while BBM3.L tracks the ICE 0-3 Month US Treasury Notes & Bills Index. Both are passively managed. Over the past 5 years, IGLT.L returned -4.26%/yr vs 4.56%/yr for BBM3.L. At a correlation of -0.12, they often move in opposite directions. Both charge a 0.07% expense ratio.
Performance
IGLT.L vs. BBM3.L - Performance Comparison
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Returns By Period
In the year-to-date period, IGLT.L achieves a -0.84% return, which is significantly lower than BBM3.L's 1.63% return.
IGLT.L
- 1D
- 0.21%
- 1M
- 1.42%
- YTD
- -0.84%
- 6M
- -1.14%
- 1Y
- 2.10%
- 3Y*
- 2.44%
- 5Y*
- -4.26%
- 10Y*
- -0.90%
BBM3.L
- 1D
- 0.09%
- 1M
- 1.32%
- YTD
- 1.63%
- 6M
- 1.18%
- 1Y
- 4.93%
- 3Y*
- 1.97%
- 5Y*
- 4.56%
- 10Y*
- —
IGLT.L vs. BBM3.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IGLT.L iShares Core UK Gilts UCITS ETF | -0.84% | 4.69% | -3.33% | 3.56% | -23.71% | 2.01% |
BBM3.L JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) | 1.63% | -2.96% | 7.04% | -0.79% | 13.68% | 4.38% |
Correlation
The correlation between IGLT.L and BBM3.L is -0.34, 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 | -0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.13 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2021 | -0.12 |
Over the past year, the inverse relationship between IGLT.L and BBM3.L has strengthened: their correlation has moved from -0.12 to -0.34, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
IGLT.L vs. BBM3.L — Risk / Return Rank
IGLT.L
BBM3.L
IGLT.L vs. BBM3.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core UK Gilts UCITS ETF (IGLT.L) and JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) (BBM3.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.
| IGLT.L | BBM3.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.13 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.40 | 1.09 | -0.69 |
| Martin ratioReturn relative to average drawdown | 1.07 | 2.71 | -1.65 |
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
| IGLT.L | BBM3.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.35 | 0.76 | -0.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.42 | 0.54 | -0.96 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.10 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.28 | 0.50 | -0.23 |
Drawdowns
IGLT.L vs. BBM3.L - Drawdown Comparison
The maximum IGLT.L drawdown since its inception was -35.52%, which is greater than BBM3.L's maximum drawdown of -15.27%. Use the drawdown chart below to compare losses from any high point for IGLT.L and BBM3.L.
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Drawdown Indicators
| IGLT.L | BBM3.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.52% | -15.27% | -20.25% |
Max Drawdown (1Y)Largest decline over 1 year | -5.24% | -4.52% | -0.72% |
Max Drawdown (3Y)Largest decline over 3 years | -6.97% | -9.77% | +2.80% |
Max Drawdown (5Y)Largest decline over 5 years | -33.49% | -15.27% | -18.22% |
Max Drawdown (10Y)Largest decline over 10 years | -35.52% | — | — |
Current DrawdownCurrent decline from peak | -25.96% | -5.65% | -20.31% |
Average DrawdownAverage peak-to-trough decline | -8.26% | -6.31% | -1.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 1.81% | +0.16% |
Volatility
IGLT.L vs. BBM3.L - Volatility Comparison
iShares Core UK Gilts UCITS ETF (IGLT.L) has a higher volatility of 2.31% compared to JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) (BBM3.L) at 1.89%. This indicates that IGLT.L's price experiences larger fluctuations and is considered to be riskier than BBM3.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGLT.L | BBM3.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.31% | 1.89% | +0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 4.73% | 4.68% | +0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.00% | 6.47% | -0.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.02% | 8.43% | +1.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.02% | 8.38% | +0.64% |
IGLT.L vs. BBM3.L - Expense Ratio Comparison
Both IGLT.L and BBM3.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
IGLT.L vs. BBM3.L - Dividend Comparison
IGLT.L's dividend yield for the trailing twelve months is around 4.50%, while BBM3.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BBM3.L JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IGLT.L iShares Core UK Gilts UCITS ETF | 4.50% | 4.26% | 3.69% | 2.40% | 1.32% | 0.79% | 0.95% | 1.25% | 1.31% | 1.30% | 1.88% | 2.05% |
Frequently Asked Questions
IGLT.L and BBM3.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.
Both ETFs have the same 0.07% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
IGLT.L and BBM3.L have the same expense ratio: 0.07% per year.
IGLT.L tracks FTSE Actuaries UK Conventional Gilts All Stocks Index, while BBM3.L tracks ICE 0-3 Month US Treasury Notes & Bills Index. They also come from different issuers: iShares and JPMorgan.
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