IGTM.L vs. IUGA.L
IGTM.L (iShares USD Treasury Bond 7-10 Year UCITS ETF GBP Hedged Distributing) and IUGA.L (iShares US Aggregate Bond UCITS ETF GBP Hedged (Dist)) are both Intermediate Core Bond funds from iShares - IGTM.L tracks the ICE US Treasury 7-10 Year Index while IUGA.L tracks the Bloomberg US Aggregate Bond (GBP Hedged) Index. Both are passively managed. Over the past 5 years, IGTM.L returned -1.87%/yr vs -0.95%/yr for IUGA.L. Their correlation of 0.84 suggests significant overlap in exposure. IGTM.L charges 0.10%/yr vs 0.30%/yr for IUGA.L.
Performance
IGTM.L vs. IUGA.L - Performance Comparison
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Returns By Period
In the year-to-date period, IGTM.L achieves a -0.94% return, which is significantly lower than IUGA.L's -0.21% return.
IGTM.L
- 1D
- 0.00%
- 1M
- -0.23%
- 6M
- -0.25%
- YTD
- -0.94%
- 1Y
- 3.59%
- 3Y*
- 2.37%
- 5Y*
- -1.87%
- 10Y*
- —
IUGA.L
- 1D
- 0.23%
- 1M
- -0.47%
- 6M
- 0.02%
- YTD
- -0.21%
- 1Y
- 3.88%
- 3Y*
- 3.19%
- 5Y*
- -0.95%
- 10Y*
- —
IGTM.L vs. IUGA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IGTM.L iShares USD Treasury Bond 7-10 Year UCITS ETF GBP Hedged Distributing | -0.94% | 7.92% | -0.52% | 2.67% | -15.78% | -3.18% | 9.12% | 6.53% |
IUGA.L iShares US Aggregate Bond UCITS ETF GBP Hedged (Dist) | -0.21% | 6.71% | 0.94% | 4.04% | -13.94% | -2.16% | 6.06% | 5.80% |
Correlation
The correlation between IGTM.L and IUGA.L is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Feb 27, 2019 | 0.84 |
The correlation between IGTM.L and IUGA.L shifts across timeframes, from 0.74 (1 year) to 0.87 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IGTM.L vs. IUGA.L — Risk / Return Rank
IGTM.L
IUGA.L
IGTM.L vs. IUGA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 7-10 Year UCITS ETF GBP Hedged Distributing (IGTM.L) and iShares US Aggregate Bond UCITS ETF GBP Hedged (Dist) (IUGA.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.
| IGTM.L | IUGA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.18 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.89 | 1.43 | -0.54 |
| Martin ratioReturn relative to average drawdown | 2.37 | 3.81 | -1.44 |
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Drawdowns
IGTM.L vs. IUGA.L - Drawdown Comparison
The maximum IGTM.L drawdown since its inception was -24.90%, which is greater than IUGA.L's maximum drawdown of -20.08%. Use the drawdown chart below to compare losses from any high point for IGTM.L and IUGA.L.
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Drawdown Indicators
| IGTM.L | IUGA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.90% | -20.08% | -4.82% |
Max Drawdown (1Y)Largest decline over 1 year | -4.04% | -2.71% | -1.33% |
Max Drawdown (3Y)Largest decline over 3 years | -7.17% | -5.99% | -1.18% |
Max Drawdown (5Y)Largest decline over 5 years | -22.30% | -19.05% | -3.25% |
Current DrawdownCurrent decline from peak | -13.02% | -6.58% | -6.44% |
Average DrawdownAverage peak-to-trough decline | -11.29% | -7.10% | -4.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.51% | 1.02% | +0.49% |
Volatility
IGTM.L vs. IUGA.L - Volatility Comparison
iShares USD Treasury Bond 7-10 Year UCITS ETF GBP Hedged Distributing (IGTM.L) has a higher volatility of 1.44% compared to iShares US Aggregate Bond UCITS ETF GBP Hedged (Dist) (IUGA.L) at 1.06%. This indicates that IGTM.L's price experiences larger fluctuations and is considered to be riskier than IUGA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGTM.L | IUGA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.44% | 1.06% | +0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 3.58% | 2.97% | +0.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.66% | 4.04% | +0.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.62% | 6.00% | +1.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.16% | 5.47% | +1.69% |
IGTM.L vs. IUGA.L - Expense Ratio Comparison
IGTM.L has a 0.10% expense ratio, which is lower than IUGA.L's 0.30% expense ratio.
Dividends
IGTM.L vs. IUGA.L - Dividend Comparison
IGTM.L's dividend yield for the trailing twelve months is around 4.31%, more than IUGA.L's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IGTM.L iShares USD Treasury Bond 7-10 Year UCITS ETF GBP Hedged Distributing | 4.31% | 4.11% | 3.91% | 3.04% | 2.06% | 1.12% | 1.57% | 1.64% | 0.00% |
IUGA.L iShares US Aggregate Bond UCITS ETF GBP Hedged (Dist) | 3.86% | 3.68% | 3.51% | 2.96% | 2.25% | 1.65% | 2.05% | 2.64% | 1.45% |
Frequently Asked Questions
IGTM.L and IUGA.L have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGTM.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGTM.L is cheaper with a 0.10% expense ratio, compared with 0.30% for IUGA.L.
IGTM.L tracks ICE US Treasury 7-10 Year Index, while IUGA.L tracks Bloomberg US Aggregate Bond (GBP Hedged) Index. Their fees differ too: 0.10% for IGTM.L and 0.30% for IUGA.L.
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