IS0P.DE vs. VGOV.DE
IS0P.DE (iShares Spain Government Bond UCITS ETF Dist) and VGOV.DE (Vanguard UK Gilt UCITS ETF Distributing) are both European Government Bonds funds - IS0P.DE tracks the Bloomberg Spain Treasury Bond while VGOV.DE tracks the FTSE Act UK Cnvt Gilts All Stocks TR GBP. Both are passively managed. Over the past 10 years, IS0P.DE returned 0.26%/yr vs -0.19%/yr for VGOV.DE. At a 0.43 correlation, their price movements are largely independent. IS0P.DE charges 0.20%/yr vs 0.07%/yr for VGOV.DE.
Performance
IS0P.DE vs. VGOV.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 VGOV.DE's 1.76% return. Over the past 10 years, IS0P.DE has outperformed VGOV.DE with an annualized return of 0.26%, while VGOV.DE has yielded a comparatively lower -0.19% 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%
VGOV.DE
- 1D
- 1.04%
- 1M
- 1.39%
- 6M
- 0.02%
- YTD
- 1.76%
- 1Y
- 4.79%
- 3Y*
- 2.86%
- 5Y*
- -5.57%
- 10Y*
- -0.19%
IS0P.DE vs. VGOV.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% |
VGOV.DE Vanguard UK Gilt UCITS ETF Distributing | 1.76% | 0.16% | -0.17% | 5.43% | -30.79% | 1.90% | 2.83% | 13.98% | -1.23% | 14.98% |
Correlation
The correlation between IS0P.DE and VGOV.DE is 0.65, 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 | 0.65 |
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 | 0.56 |
Correlation (All Time) Calculated using the full available price history since May 22, 2012 | 0.43 |
Over the past year, IS0P.DE and VGOV.DE have become more correlated (0.65) than their long-term average of 0.43, meaning their price movements have been converging.
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Return for Risk
IS0P.DE vs. VGOV.DE — Risk / Return Rank
IS0P.DE
VGOV.DE
IS0P.DE vs. VGOV.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 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.
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 | VGOV.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.11 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.37 | 0.89 | -0.51 |
| Martin ratioReturn relative to average drawdown | 0.95 | 2.74 | -1.78 |
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Drawdowns
IS0P.DE vs. VGOV.DE - Drawdown Comparison
The maximum IS0P.DE drawdown since its inception was -21.93%, smaller than the maximum VGOV.DE drawdown of -40.96%. Use the drawdown chart below to compare losses from any high point for IS0P.DE and VGOV.DE.
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Drawdown Indicators
| IS0P.DE | VGOV.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.93% | -40.96% | +19.03% |
Max Drawdown (1Y)Largest decline over 1 year | -3.42% | -5.39% | +1.97% |
Max Drawdown (3Y)Largest decline over 3 years | -3.98% | -9.04% | +5.06% |
Max Drawdown (5Y)Largest decline over 5 years | -20.84% | -40.46% | +19.62% |
Max Drawdown (10Y)Largest decline over 10 years | -21.93% | -40.96% | +19.03% |
Current DrawdownCurrent decline from peak | -11.78% | -28.76% | +16.98% |
Average DrawdownAverage peak-to-trough decline | -5.99% | -11.97% | +5.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.34% | 1.75% | -0.41% |
Volatility
IS0P.DE vs. VGOV.DE - Volatility Comparison
The current volatility for iShares Spain Government Bond UCITS ETF Dist (IS0P.DE) is 1.16%, while Vanguard UK Gilt UCITS ETF Distributing (VGOV.DE) has a volatility of 2.20%. This indicates that IS0P.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
| IS0P.DE | VGOV.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% | 6.31% | -2.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.41% | 7.87% | -3.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.24% | 12.88% | -6.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.49% | 12.02% | -6.53% |
IS0P.DE vs. VGOV.DE - Expense Ratio Comparison
IS0P.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
IS0P.DE vs. VGOV.DE - Dividend Comparison
IS0P.DE's dividend yield for the trailing twelve months is around 2.51%, less than VGOV.DE's 4.44% 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% |
VGOV.DE Vanguard UK Gilt UCITS ETF Distributing | 4.44% | 4.59% | 4.08% | 3.17% | 1.94% | 1.07% | 1.18% | 1.34% | 1.60% | 1.64% | 0.00% | 0.00% |
Frequently Asked Questions
IS0P.DE and VGOV.DE have a correlation of 0.65, 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 IS0P.DE.
IS0P.DE tracks Bloomberg Spain Treasury Bond, 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 IS0P.DE and 0.07% for VGOV.DE.
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