IGLT.L vs. GLTP.L
IGLT.L (iShares Core UK Gilts UCITS ETF) and GLTP.L (Invesco UK Gilts UCITS ETF Dist) are both exchange-traded funds - IGLT.L is a Government Bonds fund tracking the FTSE Actuaries UK Conventional Gilts All Stocks Index, while GLTP.L is a European Government Bonds fund tracking the FTSE Act UK Cnvt Gilts All Stocks TR GBP. Both are passively managed. Over the past 5 years, IGLT.L returned -4.26%/yr vs -4.79%/yr for GLTP.L. With a 0.96 correlation, they move nearly in lockstep. IGLT.L charges 0.07%/yr vs 0.06%/yr for GLTP.L.
Performance
IGLT.L vs. GLTP.L - Performance Comparison
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Different Trading Currencies
IGLT.L is traded in GBP, while GLTP.L is traded in GBp. To make them comparable, the GLTP.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, IGLT.L achieves a -0.84% return, which is significantly higher than GLTP.L's -1.34% 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%
GLTP.L
- 1D
- 0.25%
- 1M
- 1.64%
- YTD
- -1.34%
- 6M
- -1.41%
- 1Y
- 2.02%
- 3Y*
- 2.16%
- 5Y*
- -4.79%
- 10Y*
- —
IGLT.L vs. GLTP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IGLT.L iShares Core UK Gilts UCITS ETF | -0.84% | 4.69% | -3.33% | 3.56% | -23.71% | -5.03% | 8.08% | 3.32% |
GLTP.L Invesco UK Gilts UCITS ETF Dist | -1.34% | 5.35% | -4.39% | 3.50% | -24.95% | -5.40% | 8.70% | 3.59% |
Correlation
The correlation between IGLT.L and GLTP.L is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Mar 22, 2019 | 0.96 |
The correlation between IGLT.L and GLTP.L has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.
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Return for Risk
IGLT.L vs. GLTP.L — Risk / Return Rank
IGLT.L
GLTP.L
IGLT.L vs. GLTP.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 Invesco UK Gilts UCITS ETF Dist (GLTP.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 | GLTP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.06 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.40 | 0.35 | +0.05 |
| Martin ratioReturn relative to average drawdown | 1.07 | 0.94 | +0.12 |
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 | GLTP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.35 | 0.31 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.42 | -0.45 | +0.03 |
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 | -0.26 | +0.54 |
Drawdowns
IGLT.L vs. GLTP.L - Drawdown Comparison
The maximum IGLT.L drawdown since its inception was -35.52%, roughly equal to the maximum GLTP.L drawdown of -37.02%. Use the drawdown chart below to compare losses from any high point for IGLT.L and GLTP.L.
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Drawdown Indicators
| IGLT.L | GLTP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.52% | -37.02% | +1.50% |
Max Drawdown (1Y)Largest decline over 1 year | -5.24% | -5.69% | +0.45% |
Max Drawdown (3Y)Largest decline over 3 years | -6.97% | -7.66% | +0.69% |
Max Drawdown (5Y)Largest decline over 5 years | -33.49% | -34.89% | +1.40% |
Max Drawdown (10Y)Largest decline over 10 years | -35.52% | — | — |
Current DrawdownCurrent decline from peak | -25.96% | -28.38% | +2.42% |
Average DrawdownAverage peak-to-trough decline | -8.26% | -18.68% | +10.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 2.15% | -0.18% |
Volatility
IGLT.L vs. GLTP.L - Volatility Comparison
The current volatility for iShares Core UK Gilts UCITS ETF (IGLT.L) is 2.31%, while Invesco UK Gilts UCITS ETF Dist (GLTP.L) has a volatility of 2.85%. This indicates that IGLT.L experiences smaller price fluctuations and is considered to be less risky than GLTP.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 | GLTP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.31% | 2.85% | -0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 4.73% | 5.22% | -0.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.00% | 6.51% | -0.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.02% | 10.58% | -0.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.02% | 10.25% | -1.23% |
IGLT.L vs. GLTP.L - Expense Ratio Comparison
IGLT.L has a 0.07% expense ratio, which is higher than GLTP.L's 0.06% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IGLT.L vs. GLTP.L - Dividend Comparison
IGLT.L's dividend yield for the trailing twelve months is around 4.50%, which matches GLTP.L's 4.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLTP.L Invesco UK Gilts UCITS ETF Dist | 4.50% | 4.39% | 4.33% | 3.24% | 1.62% | 0.81% | 0.81% | 0.72% | 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
With a correlation of 0.95, IGLT.L and GLTP.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, GLTP.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLTP.L is cheaper with a 0.06% expense ratio, compared with 0.07% for IGLT.L.
IGLT.L is categorized as Government Bonds, while GLTP.L is European Government Bonds. IGLT.L tracks FTSE Actuaries UK Conventional Gilts All Stocks Index, while GLTP.L tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.07% for IGLT.L and 0.06% for GLTP.L.
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