IGLT.L vs. XUT3.L
IGLT.L (iShares Core UK Gilts UCITS ETF) and XUT3.L (Xtrackers II US Treasuries 1-3 UCITS ETF 1D) are both Government Bonds funds - IGLT.L tracks the FTSE Actuaries UK Conventional Gilts All Stocks Index while XUT3.L tracks the iBoxx USD Treasuries 1-3 Index. Both are passively managed. Over the past 10 years, IGLT.L returned -1.35%/yr vs 1.45%/yr for XUT3.L. At a 0.18 correlation, their price movements are largely independent. IGLT.L charges 0.07%/yr vs 0.06%/yr for XUT3.L.
Performance
IGLT.L vs. XUT3.L - Performance Comparison
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Different Trading Currencies
IGLT.L is traded in GBP, while XUT3.L is traded in USD. To make them comparable, the XUT3.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 0.24% return, which is significantly lower than XUT3.L's 1.65% return. Over the past 10 years, IGLT.L has underperformed XUT3.L with an annualized return of -1.35%, while XUT3.L has yielded a comparatively higher 1.45% annualized return.
IGLT.L
- 1D
- -0.21%
- 1M
- 0.94%
- 6M
- 0.14%
- YTD
- 0.24%
- 1Y
- 2.75%
- 3Y*
- 3.63%
- 5Y*
- -4.48%
- 10Y*
- -1.35%
XUT3.L
- 1D
- -0.02%
- 1M
- 0.27%
- 6M
- 2.14%
- YTD
- 1.65%
- 1Y
- 5.51%
- 3Y*
- 2.70%
- 5Y*
- 2.66%
- 10Y*
- 1.45%
IGLT.L vs. XUT3.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGLT.L iShares Core UK Gilts UCITS ETF | 0.24% | 4.70% | -3.34% | 3.61% | -23.74% | -5.00% | 8.06% | 6.68% | 0.57% | 1.38% |
XUT3.L Xtrackers II US Treasuries 1-3 UCITS ETF 1D | 1.65% | -2.42% | 5.95% | -1.10% | 7.87% | 0.32% | -0.08% | -0.38% | 7.45% | -8.40% |
Correlation
The correlation between IGLT.L and XUT3.L is -0.13, 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 | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jul 7, 2009 | 0.18 |
The correlation between IGLT.L and XUT3.L shifts across timeframes, from -0.13 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IGLT.L vs. XUT3.L — Risk / Return Rank
IGLT.L
XUT3.L
IGLT.L vs. XUT3.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 Xtrackers II US Treasuries 1-3 UCITS ETF 1D (XUT3.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 | XUT3.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.16 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.46 | 1.06 | -0.61 |
| Martin ratioReturn relative to average drawdown | 1.33 | 2.90 | -1.56 |
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Drawdowns
IGLT.L vs. XUT3.L - Drawdown Comparison
The maximum IGLT.L drawdown since its inception was -35.56%, which is greater than XUT3.L's maximum drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for IGLT.L and XUT3.L.
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Drawdown Indicators
| IGLT.L | XUT3.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.56% | -18.58% | -16.98% |
Max Drawdown (1Y)Largest decline over 1 year | -6.00% | -5.21% | -0.79% |
Max Drawdown (3Y)Largest decline over 3 years | -6.96% | -9.27% | +2.31% |
Max Drawdown (5Y)Largest decline over 5 years | -33.53% | -16.72% | -16.81% |
Max Drawdown (10Y)Largest decline over 10 years | -35.56% | -18.58% | -16.98% |
Current DrawdownCurrent decline from peak | -25.14% | -7.38% | -17.76% |
Average DrawdownAverage peak-to-trough decline | -8.46% | -8.04% | -0.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.05% | 1.91% | +0.14% |
Volatility
IGLT.L vs. XUT3.L - Volatility Comparison
The current volatility for iShares Core UK Gilts UCITS ETF (IGLT.L) is 1.26%, while Xtrackers II US Treasuries 1-3 UCITS ETF 1D (XUT3.L) has a volatility of 1.68%. This indicates that IGLT.L experiences smaller price fluctuations and is considered to be less risky than XUT3.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 | XUT3.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.26% | 1.68% | -0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 5.99% | 4.95% | +1.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.83% | 6.35% | +0.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.32% | 8.21% | +2.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.13% | 8.71% | +0.42% |
IGLT.L vs. XUT3.L - Expense Ratio Comparison
IGLT.L has a 0.07% expense ratio, which is higher than XUT3.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. XUT3.L - Dividend Comparison
IGLT.L's dividend yield for the trailing twelve months is around 4.45%, more than XUT3.L's 2.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGLT.L iShares Core UK Gilts UCITS ETF | 4.45% | 4.26% | 3.69% | 2.40% | 1.32% | 0.79% | 0.95% | 1.24% | 1.31% | 1.30% | 1.88% | 2.05% |
XUT3.L Xtrackers II US Treasuries 1-3 UCITS ETF 1D | 2.83% | 2.70% | 2.35% | 1.80% | 1.00% | 2.89% | 2.43% | 1.16% | 1.00% | 0.69% | 0.00% | 0.00% |
Frequently Asked Questions
IGLT.L and XUT3.L have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XUT3.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XUT3.L is cheaper with a 0.06% expense ratio, compared with 0.07% for IGLT.L.
IGLT.L tracks FTSE Actuaries UK Conventional Gilts All Stocks Index, while XUT3.L tracks iBoxx USD Treasuries 1-3 Index. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.07% for IGLT.L and 0.06% for XUT3.L.
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