IGLT.L vs. TFRN.L
IGLT.L (iShares Core UK Gilts UCITS ETF) and TFRN.L (WisdomTree USD Floating Rate Treasury Bond UCITS ETF - USD Acc) are both Government Bonds funds - IGLT.L tracks the FTSE Actuaries UK Conventional Gilts All Stocks Index while TFRN.L tracks the Bloomberg US Treasury Floating Rate Bond Index. Both are passively managed. Over the past 5 years, IGLT.L returned -4.97%/yr vs 4.38%/yr for TFRN.L. Their -0.02 correlation means they have often moved in opposite directions in the past. IGLT.L charges 0.07%/yr vs 0.15%/yr for TFRN.L.
Performance
IGLT.L vs. TFRN.L - Performance Comparison
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Different Trading Currencies
IGLT.L is traded in GBP, while TFRN.L is traded in USD. To make them comparable, the TFRN.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 -1.10% return, which is significantly lower than TFRN.L's 3.33% return.
IGLT.L
- 1D
- 0.52%
- 1M
- -1.84%
- 6M
- -1.40%
- YTD
- -1.10%
- 1Y
- 1.89%
- 3Y*
- 2.17%
- 5Y*
- -4.97%
- 10Y*
- -1.38%
- ALL TIME*
- 2.25%
TFRN.L
- 1D
- -0.03%
- 1M
- -0.63%
- 6M
- 4.41%
- YTD
- 3.33%
- 1Y
- 4.82%
- 3Y*
- 3.52%
- 5Y*
- 4.38%
- 10Y*
- —
- ALL TIME*
- 2.58%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| £3.50M | £6.04M | £5.78M | |
| £528.55K | £271.63K | £331.97K |
IGLT.L vs. TFRN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IGLT.L iShares Core UK Gilts UCITS ETF | -1.10% | 4.70% | -3.34% | 3.61% | -23.74% | -5.00% | 8.06% | 4.44% |
TFRN.L WisdomTree USD Floating Rate Treasury Bond UCITS ETF - USD Acc | 3.33% | -3.32% | 7.28% | -0.31% | 14.17% | 0.80% | -2.38% | 0.46% |
Correlation
The correlation between IGLT.L and TFRN.L is -0.23, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.23 |
Correlation (3Y) Balances recent behavior with more history. | -0.16 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.11 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2019 | -0.02 |
Over the past year, the inverse relationship between IGLT.L and TFRN.L has strengthened: their correlation has moved from -0.02 to -0.23, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
IGLT.L vs. TFRN.L — Risk / Return Rank
IGLT.L
TFRN.L
IGLT.L vs. TFRN.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 WisdomTree USD Floating Rate Treasury Bond UCITS ETF - USD Acc (TFRN.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.
| IGLT.L | TFRN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.14 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.28 | 1.06 | -0.79 |
| Martin ratioReturn relative to average drawdown | 0.76 | 2.84 | -2.08 |
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Drawdowns
IGLT.L vs. TFRN.L - Drawdown Comparison
The maximum IGLT.L drawdown since its inception was -35.56%, which is greater than TFRN.L's maximum drawdown of -18.17%. Use the drawdown chart below to compare losses from any high point for IGLT.L and TFRN.L.
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Drawdown Indicators
| IGLT.L | TFRN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.56% | -18.17% | -17.39% |
Max Drawdown (1Y)Largest decline over 1 year | -6.00% | -5.10% | -0.90% |
Max Drawdown (3Y)Largest decline over 3 years | -6.96% | -10.05% | +3.09% |
Max Drawdown (5Y)Largest decline over 5 years | -33.53% | -15.61% | -17.92% |
Max Drawdown (10Y)Largest decline over 10 years | -35.56% | — | — |
Current DrawdownCurrent decline from peak | -26.15% | -4.58% | -21.57% |
Average DrawdownAverage peak-to-trough decline | -8.51% | -8.81% | +0.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.19% | 1.91% | +0.28% |
Volatility
IGLT.L vs. TFRN.L - Volatility Comparison
iShares Core UK Gilts UCITS ETF (IGLT.L) and WisdomTree USD Floating Rate Treasury Bond UCITS ETF - USD Acc (TFRN.L) have volatilities of 1.68% and 1.73%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGLT.L | TFRN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.68% | 1.73% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 6.14% | 4.93% | +1.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.94% | 6.84% | +0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.31% | 8.60% | +1.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.13% | 8.84% | +0.29% |
IGLT.L vs. TFRN.L - Expense Ratio Comparison
IGLT.L has a 0.07% expense ratio, which is lower than TFRN.L's 0.15% 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
IGLT.L vs. TFRN.L - Dividend Comparison
IGLT.L's dividend yield for the trailing twelve months is around 4.51%, while TFRN.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGLT.L iShares Core UK Gilts UCITS ETF | 4.51% | 4.26% | 3.69% | 2.40% | 1.32% | 0.79% | 0.95% | 1.24% | 1.31% | 1.30% | 1.88% | 2.05% |
TFRN.L WisdomTree USD Floating Rate Treasury Bond 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% |
Frequently Asked Questions
IGLT.L and TFRN.L have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGLT.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGLT.L is cheaper with a 0.07% expense ratio, compared with 0.15% for TFRN.L.
IGLT.L tracks FTSE Actuaries UK Conventional Gilts All Stocks Index, while TFRN.L tracks Bloomberg US Treasury Floating Rate Bond Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.07% for IGLT.L and 0.15% for TFRN.L.
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