IS15.L vs. IGBE.L
IS15.L (iShares GBP Corporate Bond 0-5yr UCITS ETF) and IGBE.L (Invesco GBP Corporate Bond ESG UCITS ETF Dist) are both European Corporate Bonds funds - IS15.L tracks the Markit iBoxx GBP NonGilts 1-5 TR while IGBE.L tracks the Markit iBoxx GBP NonGilts TR. Both are passively managed. Over the past 5 years, IS15.L returned 2.33%/yr vs -0.35%/yr for IGBE.L. A 0.66 correlation means they provide meaningful diversification when combined. IS15.L charges 0.20%/yr vs 0.10%/yr for IGBE.L.
Performance
IS15.L vs. IGBE.L - Performance Comparison
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Different Trading Currencies
IS15.L is traded in GBP, while IGBE.L is traded in GBp. To make them comparable, the IGBE.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, IS15.L achieves a 0.59% return, which is significantly higher than IGBE.L's -0.20% return.
IS15.L
- 1D
- -0.19%
- 1M
- 0.56%
- YTD
- 0.59%
- 6M
- 1.09%
- 1Y
- 4.39%
- 3Y*
- 6.08%
- 5Y*
- 2.33%
- 10Y*
- 2.28%
IGBE.L
- 1D
- 0.05%
- 1M
- 1.80%
- YTD
- -0.20%
- 6M
- 0.18%
- 1Y
- 4.79%
- 3Y*
- 6.33%
- 5Y*
- -0.35%
- 10Y*
- —
IS15.L vs. IGBE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IS15.L iShares GBP Corporate Bond 0-5yr UCITS ETF | 0.59% | 6.24% | 4.89% | 7.16% | -6.09% | -0.84% | 2.85% |
IGBE.L Invesco GBP Corporate Bond ESG UCITS ETF Dist | -0.20% | 7.23% | 2.45% | 9.16% | -18.23% | -3.62% | 6.31% |
Correlation
The correlation between IS15.L and IGBE.L 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 | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Feb 27, 2020 | 0.66 |
The correlation between IS15.L and IGBE.L has been stable across timeframes, ranging from 0.63 to 0.71 - a consistent structural relationship.
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Return for Risk
IS15.L vs. IGBE.L — Risk / Return Rank
IS15.L
IGBE.L
IS15.L vs. IGBE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares GBP Corporate Bond 0-5yr UCITS ETF (IS15.L) and Invesco GBP Corporate Bond ESG UCITS ETF Dist (IGBE.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.
| IS15.L | IGBE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.82 | ||
| Sortino ratioReturn per unit of downside risk | +1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.17 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.36 | 1.24 | +1.12 |
| Martin ratioReturn relative to average drawdown | 9.07 | 3.81 | +5.26 |
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
| IS15.L | IGBE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.77 | 0.95 | +0.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.70 | -0.05 | +0.75 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.73 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.87 | 0.01 | +0.87 |
Drawdowns
IS15.L vs. IGBE.L - Drawdown Comparison
The maximum IS15.L drawdown since its inception was -12.18%, smaller than the maximum IGBE.L drawdown of -30.19%. Use the drawdown chart below to compare losses from any high point for IS15.L and IGBE.L.
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Drawdown Indicators
| IS15.L | IGBE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.18% | -30.19% | +18.01% |
Max Drawdown (1Y)Largest decline over 1 year | -1.94% | -3.86% | +1.92% |
Max Drawdown (3Y)Largest decline over 3 years | -1.94% | -3.86% | +1.92% |
Max Drawdown (5Y)Largest decline over 5 years | -12.18% | -29.11% | +16.93% |
Max Drawdown (10Y)Largest decline over 10 years | -12.18% | — | — |
Current DrawdownCurrent decline from peak | -0.30% | -6.10% | +5.80% |
Average DrawdownAverage peak-to-trough decline | -1.12% | -10.79% | +9.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.50% | 1.25% | -0.75% |
Volatility
IS15.L vs. IGBE.L - Volatility Comparison
The current volatility for iShares GBP Corporate Bond 0-5yr UCITS ETF (IS15.L) is 1.02%, while Invesco GBP Corporate Bond ESG UCITS ETF Dist (IGBE.L) has a volatility of 1.97%. This indicates that IS15.L experiences smaller price fluctuations and is considered to be less risky than IGBE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IS15.L | IGBE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.02% | 1.97% | -0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 2.32% | 4.20% | -1.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.58% | 5.03% | -2.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.30% | 7.44% | -4.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.13% | 7.62% | -4.49% |
IS15.L vs. IGBE.L - Expense Ratio Comparison
IS15.L has a 0.20% expense ratio, which is higher than IGBE.L's 0.10% 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
IS15.L vs. IGBE.L - Dividend Comparison
IS15.L's dividend yield for the trailing twelve months is around 4.54%, less than IGBE.L's 4.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGBE.L Invesco GBP Corporate Bond ESG UCITS ETF Dist | 4.93% | 4.81% | 4.59% | 3.85% | 2.47% | 1.76% | 1.31% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IS15.L iShares GBP Corporate Bond 0-5yr UCITS ETF | 4.54% | 4.35% | 4.06% | 3.05% | 1.80% | 1.72% | 1.81% | 2.03% | 2.08% | 2.15% | 2.55% | 2.91% |
Frequently Asked Questions
IS15.L and IGBE.L 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, IGBE.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGBE.L is cheaper with a 0.10% expense ratio, compared with 0.20% for IS15.L.
IS15.L tracks Markit iBoxx GBP NonGilts 1-5 TR, while IGBE.L tracks Markit iBoxx GBP NonGilts TR. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.20% for IS15.L and 0.10% for IGBE.L.
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