IS0L.DE vs. VGOV.DE
IS0L.DE (iShares Germany Government Bond UCITS ETF (Dist)) and VGOV.DE (Vanguard UK Gilt UCITS ETF Distributing) are both European Government Bonds funds - IS0L.DE tracks the Bloomberg Euro Treasury Germany while VGOV.DE tracks the FTSE Act UK Cnvt Gilts All Stocks TR GBP. Both are passively managed. Over the past 5 years, IS0L.DE returned -3.06%/yr vs -5.47%/yr for VGOV.DE. A 0.67 correlation means they provide meaningful diversification when combined. IS0L.DE charges 0.20%/yr vs 0.07%/yr for VGOV.DE.
Performance
IS0L.DE vs. VGOV.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IS0L.DE achieves a -0.09% return, which is significantly higher than VGOV.DE's -0.51% return.
IS0L.DE
- 1D
- 0.09%
- 1M
- -0.08%
- YTD
- -0.09%
- 6M
- -0.26%
- 1Y
- -1.03%
- 3Y*
- 0.83%
- 5Y*
- -3.06%
- 10Y*
- -1.31%
VGOV.DE
- 1D
- 0.07%
- 1M
- 0.49%
- YTD
- -0.51%
- 6M
- -0.16%
- 1Y
- -0.62%
- 3Y*
- 2.00%
- 5Y*
- -5.47%
- 10Y*
- —
IS0L.DE vs. VGOV.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IS0L.DE iShares Germany Government Bond UCITS ETF (Dist) | -0.09% | -1.50% | 0.13% | 5.16% | -17.86% | -2.55% | 2.69% | 2.82% | 2.31% | -0.20% |
VGOV.DE Vanguard UK Gilt UCITS ETF Distributing | -0.51% | 0.18% | -0.21% | 5.44% | -30.78% | 1.88% | 2.84% | 13.71% | -1.09% | 2.53% |
Correlation
The correlation between IS0L.DE and VGOV.DE is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2017 | 0.67 |
The correlation between IS0L.DE and VGOV.DE shifts across timeframes, from 0.63 (1 year) to 0.74 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IS0L.DE vs. VGOV.DE — Risk / Return Rank
IS0L.DE
VGOV.DE
IS0L.DE vs. VGOV.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Germany Government Bond UCITS ETF (Dist) (IS0L.DE) and Vanguard UK Gilt UCITS ETF Distributing (VGOV.DE). 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.
| IS0L.DE | VGOV.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.31 | ||
| Sortino ratioReturn per unit of downside risk | -0.47 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 0.99 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | -0.13 | -0.36 |
| Martin ratioReturn relative to average drawdown | -1.02 | -0.29 | -0.73 |
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
| IS0L.DE | VGOV.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.40 | -0.08 | -0.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.50 | -0.42 | -0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.25 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.03 | -0.13 | +0.10 |
Drawdowns
IS0L.DE vs. VGOV.DE - Drawdown Comparison
The maximum IS0L.DE drawdown since its inception was -23.96%, smaller than the maximum VGOV.DE drawdown of -40.95%. Use the drawdown chart below to compare losses from any high point for IS0L.DE and VGOV.DE.
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Drawdown Indicators
| IS0L.DE | VGOV.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.96% | -40.95% | +16.99% |
Max Drawdown (1Y)Largest decline over 1 year | -2.93% | -5.37% | +2.44% |
Max Drawdown (3Y)Largest decline over 3 years | -4.96% | -9.01% | +4.05% |
Max Drawdown (5Y)Largest decline over 5 years | -21.24% | -40.45% | +19.21% |
Max Drawdown (10Y)Largest decline over 10 years | -23.96% | — | — |
Current DrawdownCurrent decline from peak | -19.49% | -30.35% | +10.86% |
Average DrawdownAverage peak-to-trough decline | -7.79% | -16.60% | +8.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.39% | 2.35% | -0.96% |
Volatility
IS0L.DE vs. VGOV.DE - Volatility Comparison
The current volatility for iShares Germany Government Bond UCITS ETF (Dist) (IS0L.DE) is 1.37%, while Vanguard UK Gilt UCITS ETF Distributing (VGOV.DE) has a volatility of 3.34%. This indicates that IS0L.DE experiences smaller price fluctuations and is considered to be less risky than VGOV.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IS0L.DE | VGOV.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.37% | 3.34% | -1.97% |
Volatility (6M)Calculated over the trailing 6-month period | 2.74% | 6.15% | -3.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.54% | 7.99% | -4.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.10% | 12.87% | -6.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.27% | 11.86% | -6.59% |
IS0L.DE vs. VGOV.DE - Expense Ratio Comparison
IS0L.DE has a 0.20% expense ratio, which is higher than VGOV.DE's 0.07% 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
IS0L.DE vs. VGOV.DE - Dividend Comparison
IS0L.DE's dividend yield for the trailing twelve months is around 2.19%, less than VGOV.DE's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IS0L.DE iShares Germany Government Bond UCITS ETF (Dist) | 2.19% | 2.19% | 2.13% | 0.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.03% | 0.35% |
VGOV.DE Vanguard UK Gilt UCITS ETF Distributing | 4.59% | 4.59% | 4.08% | 3.17% | 1.94% | 1.07% | 1.18% | 1.34% | 1.60% | 0.27% | 0.00% | 0.00% |
Frequently Asked Questions
IS0L.DE and VGOV.DE have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGOV.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGOV.DE is cheaper with a 0.07% expense ratio, compared with 0.20% for IS0L.DE.
IS0L.DE tracks Bloomberg Euro Treasury Germany, while VGOV.DE tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.20% for IS0L.DE and 0.07% for VGOV.DE.
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