IS0P.DE vs. SYBG.DE
IS0P.DE (iShares Spain Government Bond UCITS ETF Dist) and SYBG.DE (SPDR Bloomberg UK Gilt UCITS ETF) are both European Government Bonds funds - IS0P.DE tracks the Bloomberg Spain Treasury Bond while SYBG.DE tracks the Bloomberg UK Gilt. Both are passively managed. Over the past 10 years, IS0P.DE returned 0.26%/yr vs -1.75%/yr for SYBG.DE. At a 0.38 correlation, their price movements are largely independent. IS0P.DE charges 0.20%/yr vs 0.15%/yr for SYBG.DE.
Performance
IS0P.DE vs. SYBG.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IS0P.DE achieves a -0.28% return, which is significantly lower than SYBG.DE's 1.85% return. Over the past 10 years, IS0P.DE has outperformed SYBG.DE with an annualized return of 0.26%, while SYBG.DE has yielded a comparatively lower -1.75% annualized return.
IS0P.DE
- 1D
- -0.01%
- 1M
- -0.70%
- 6M
- -0.53%
- YTD
- -0.28%
- 1Y
- 1.28%
- 3Y*
- 3.21%
- 5Y*
- -1.97%
- 10Y*
- 0.26%
SYBG.DE
- 1D
- 1.02%
- 1M
- 1.41%
- 6M
- 0.08%
- YTD
- 1.85%
- 1Y
- 4.86%
- 3Y*
- 2.88%
- 5Y*
- -5.06%
- 10Y*
- -1.75%
IS0P.DE vs. SYBG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IS0P.DE iShares Spain Government Bond UCITS ETF Dist | -0.28% | 1.84% | 2.83% | 6.58% | -17.73% | -3.10% | 3.98% | 8.51% | 2.38% | 0.56% |
SYBG.DE SPDR Bloomberg UK Gilt UCITS ETF | 1.85% | 0.15% | 0.07% | 5.36% | -28.98% | 2.15% | 2.00% | 11.90% | 0.08% | -1.95% |
Correlation
The correlation between IS0P.DE and SYBG.DE is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since May 17, 2012 | 0.38 |
Over the past year, IS0P.DE and SYBG.DE have become more correlated (0.66) than their long-term average of 0.38, meaning their price movements have been converging.
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Return for Risk
IS0P.DE vs. SYBG.DE — Risk / Return Rank
IS0P.DE
SYBG.DE
IS0P.DE vs. SYBG.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Spain Government Bond UCITS ETF Dist (IS0P.DE) and SPDR Bloomberg UK Gilt UCITS ETF (SYBG.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.
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.
| IS0P.DE | SYBG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.11 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.37 | 0.89 | -0.52 |
| Martin ratioReturn relative to average drawdown | 0.95 | 2.78 | -1.83 |
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Drawdowns
IS0P.DE vs. SYBG.DE - Drawdown Comparison
The maximum IS0P.DE drawdown since its inception was -21.93%, smaller than the maximum SYBG.DE drawdown of -36.66%. Use the drawdown chart below to compare losses from any high point for IS0P.DE and SYBG.DE.
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Drawdown Indicators
| IS0P.DE | SYBG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.93% | -36.66% | +14.73% |
Max Drawdown (1Y)Largest decline over 1 year | -3.42% | -5.42% | +2.00% |
Max Drawdown (3Y)Largest decline over 3 years | -3.98% | -8.78% | +4.80% |
Max Drawdown (5Y)Largest decline over 5 years | -20.84% | -36.25% | +15.41% |
Max Drawdown (10Y)Largest decline over 10 years | -21.93% | -36.66% | +14.73% |
Current DrawdownCurrent decline from peak | -11.78% | -26.34% | +14.56% |
Average DrawdownAverage peak-to-trough decline | -5.99% | -13.47% | +7.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.34% | 1.75% | -0.41% |
Volatility
IS0P.DE vs. SYBG.DE - Volatility Comparison
The current volatility for iShares Spain Government Bond UCITS ETF Dist (IS0P.DE) is 1.16%, while SPDR Bloomberg UK Gilt UCITS ETF (SYBG.DE) has a volatility of 2.20%. This indicates that IS0P.DE experiences smaller price fluctuations and is considered to be less risky than SYBG.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IS0P.DE | SYBG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 2.20% | -1.04% |
Volatility (6M)Calculated over the trailing 6-month period | 3.71% | 6.23% | -2.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.41% | 7.89% | -3.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.24% | 11.76% | -5.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.49% | 13.82% | -8.33% |
IS0P.DE vs. SYBG.DE - Expense Ratio Comparison
IS0P.DE has a 0.20% expense ratio, which is higher than SYBG.DE's 0.15% 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
IS0P.DE vs. SYBG.DE - Dividend Comparison
IS0P.DE's dividend yield for the trailing twelve months is around 2.51%, less than SYBG.DE's 3.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IS0P.DE iShares Spain Government Bond UCITS ETF Dist | 2.51% | 2.38% | 1.96% | 1.22% | 0.63% | 0.46% | 0.45% | 0.75% | 1.08% | 1.29% | 1.38% | 1.67% |
SYBG.DE SPDR Bloomberg UK Gilt UCITS ETF | 3.73% | 3.64% | 2.65% | 1.69% | 1.22% | 0.82% | 1.11% | 1.14% | 1.27% | 1.60% | 1.77% | 1.89% |
Frequently Asked Questions
IS0P.DE and SYBG.DE have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SYBG.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SYBG.DE is cheaper with a 0.15% expense ratio, compared with 0.20% for IS0P.DE.
IS0P.DE tracks Bloomberg Spain Treasury Bond, while SYBG.DE tracks Bloomberg UK Gilt. They also come from different issuers: iShares and State Street. Their fees differ too: 0.20% for IS0P.DE and 0.15% for SYBG.DE.
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