IGLT.L vs. TSY3.L
IGLT.L (iShares Core UK Gilts UCITS ETF) and TSY3.L (SPDR Bloomberg 1-3 Year US Treasury Bond UCITS ETF) are both Government Bonds funds - IGLT.L tracks the FTSE Actuaries UK Conventional Gilts All Stocks Index while TSY3.L tracks the Bloomberg US 1-3 Year Treasury Bond Index. Both are passively managed. Over the past 10 years, IGLT.L returned -1.38%/yr vs 1.60%/yr for TSY3.L. Their 0.12 correlation means their historical movements had little consistent relationship. IGLT.L charges 0.07%/yr vs 0.05%/yr for TSY3.L.
Performance
IGLT.L vs. TSY3.L - Performance Comparison
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Returns By Period
In the year-to-date period, IGLT.L achieves a -1.10% return, which is significantly lower than TSY3.L's 1.56% return. Over the past 10 years, IGLT.L has underperformed TSY3.L with an annualized return of -1.38%, while TSY3.L has yielded a comparatively higher 1.60% annualized 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%
TSY3.L
- 1D
- -0.11%
- 1M
- -1.04%
- 6M
- 2.49%
- YTD
- 1.56%
- 1Y
- 3.79%
- 3Y*
- 3.03%
- 5Y*
- 2.44%
- 10Y*
- 1.60%
- ALL TIME*
- -0.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| £3.50M | £6.04M | £5.78M | |
| £260.03K | £130.08K | £84.12K |
IGLT.L vs. TSY3.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGLT.L iShares Core UK Gilts UCITS ETF | -1.10% | 4.70% | -3.34% | 3.61% | -23.74% | -5.00% | 8.06% | 6.68% | 0.57% | 1.38% |
TSY3.L SPDR Bloomberg 1-3 Year US Treasury Bond UCITS ETF | 1.56% | -2.01% | 5.77% | -1.64% | 7.59% | 0.49% | -0.43% | 0.21% | 7.82% | -8.39% |
Correlation
The correlation between IGLT.L and TSY3.L is -0.24, 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. | -0.24 |
Correlation (3Y) Balances recent behavior with more history. | -0.10 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.03 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.11 |
Correlation (All Time) Calculated using the full available price history since Aug 27, 2013 | 0.12 |
The correlation between IGLT.L and TSY3.L shifts across timeframes, from -0.24 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IGLT.L vs. TSY3.L — Risk / Return Rank
IGLT.L
TSY3.L
IGLT.L vs. TSY3.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 SPDR Bloomberg 1-3 Year US Treasury Bond UCITS ETF (TSY3.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 | TSY3.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.51 | ||
| Sortino ratioReturn per unit of downside risk | -0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.13 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.28 | 1.01 | -0.73 |
| Martin ratioReturn relative to average drawdown | 0.76 | 2.52 | -1.75 |
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Drawdowns
IGLT.L vs. TSY3.L - Drawdown Comparison
The maximum IGLT.L drawdown since its inception was -35.56%, smaller than the maximum TSY3.L drawdown of -41.41%. Use the drawdown chart below to compare losses from any high point for IGLT.L and TSY3.L.
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Drawdown Indicators
| IGLT.L | TSY3.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.56% | -41.41% | +5.85% |
Max Drawdown (1Y)Largest decline over 1 year | -6.00% | -4.48% | -1.52% |
Max Drawdown (3Y)Largest decline over 3 years | -6.96% | -8.93% | +1.97% |
Max Drawdown (5Y)Largest decline over 5 years | -33.53% | -16.38% | -17.15% |
Max Drawdown (10Y)Largest decline over 10 years | -35.56% | -18.75% | -16.81% |
Current DrawdownCurrent decline from peak | -26.15% | -8.07% | -18.08% |
Average DrawdownAverage peak-to-trough decline | -8.51% | -19.36% | +10.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.19% | 1.80% | +0.39% |
Volatility
IGLT.L vs. TSY3.L - Volatility Comparison
iShares Core UK Gilts UCITS ETF (IGLT.L) has a higher volatility of 1.68% compared to SPDR Bloomberg 1-3 Year US Treasury Bond UCITS ETF (TSY3.L) at 1.16%. This indicates that IGLT.L's price experiences larger fluctuations and is considered to be riskier than TSY3.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 | TSY3.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.68% | 1.16% | +0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 6.14% | 4.46% | +1.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.94% | 6.05% | +0.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.31% | 8.04% | +2.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.13% | 8.52% | +0.61% |
IGLT.L vs. TSY3.L - Expense Ratio Comparison
IGLT.L has a 0.07% expense ratio, which is higher than TSY3.L's 0.05% 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. TSY3.L - Dividend Comparison
IGLT.L's dividend yield for the trailing twelve months is around 4.51%, more than TSY3.L's 3.89% yield.
| 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% |
TSY3.L SPDR Bloomberg 1-3 Year US Treasury Bond UCITS ETF | 3.89% | 4.25% | 4.06% | 3.02% | 0.61% | 0.56% | 1.84% | 2.14% | 1.78% | 1.34% | 0.87% | 0.80% |
Frequently Asked Questions
IGLT.L and TSY3.L have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TSY3.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TSY3.L is cheaper with a 0.05% expense ratio, compared with 0.07% for IGLT.L.
IGLT.L tracks FTSE Actuaries UK Conventional Gilts All Stocks Index, while TSY3.L tracks Bloomberg US 1-3 Year Treasury Bond Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.07% for IGLT.L and 0.05% for TSY3.L.
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