ITEB.L vs. IGLN.L
ITEB.L (iShares V PLC - iShares Italy Govt Bond UCITS ETF EUR (Dist)) and IGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - ITEB.L is a Government Bonds fund tracking the iShares V PLC - iShares Italy Govt Bond UCITS ETF EUR (Dist), while IGLN.L is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 3 years, ITEB.L returned 5.84%/yr vs 25.84%/yr for IGLN.L. At a 0.17 correlation, their price movements are largely independent.
Performance
ITEB.L vs. IGLN.L - Performance Comparison
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Different Trading Currencies
ITEB.L is traded in GBP, while IGLN.L is traded in USD. To make them comparable, the IGLN.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, ITEB.L achieves a 0.50% return, which is significantly higher than IGLN.L's -6.52% return.
ITEB.L
- 1D
- -0.18%
- 1M
- -0.57%
- 6M
- -0.22%
- YTD
- 0.50%
- 1Y
- 2.87%
- 3Y*
- 5.84%
- 5Y*
- —
- 10Y*
- —
IGLN.L
- 1D
- -1.85%
- 1M
- -7.84%
- 6M
- -12.98%
- YTD
- -6.52%
- 1Y
- 20.18%
- 3Y*
- 25.84%
- 5Y*
- 17.70%
- 10Y*
- 11.29%
ITEB.L vs. IGLN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ITEB.L iShares V PLC - iShares Italy Govt Bond UCITS ETF EUR (Dist) | 0.50% | 5.10% | 6.13% | 10.70% | 0.86% |
IGLN.L iShares Physical Gold ETC | -6.52% | 53.18% | 28.34% | 7.77% | -0.31% |
Correlation
The correlation between ITEB.L and IGLN.L is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2022 | 0.17 |
The correlation between ITEB.L and IGLN.L shifts across timeframes, from 0.17 (3 years) to 0.31 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ITEB.L vs. IGLN.L — Risk / Return Rank
ITEB.L
IGLN.L
ITEB.L vs. IGLN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares V PLC - iShares Italy Govt Bond UCITS ETF EUR (Dist) (ITEB.L) and iShares Physical Gold ETC (IGLN.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.
| ITEB.L | IGLN.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 | 1.12 | 1.16 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.71 | 0.83 | -0.12 |
| Martin ratioReturn relative to average drawdown | 2.22 | 2.06 | +0.15 |
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Drawdowns
ITEB.L vs. IGLN.L - Drawdown Comparison
The maximum ITEB.L drawdown since its inception was -5.97%, smaller than the maximum IGLN.L drawdown of -41.67%. Use the drawdown chart below to compare losses from any high point for ITEB.L and IGLN.L.
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Drawdown Indicators
| ITEB.L | IGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.97% | -41.67% | +35.70% |
Max Drawdown (1Y)Largest decline over 1 year | -4.03% | -24.35% | +20.32% |
Max Drawdown (3Y)Largest decline over 3 years | -4.03% | -24.35% | +20.32% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.35% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.35% | — |
Current DrawdownCurrent decline from peak | -1.61% | -24.35% | +22.74% |
Average DrawdownAverage peak-to-trough decline | -1.24% | -14.79% | +13.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.29% | 9.75% | -8.46% |
Volatility
ITEB.L vs. IGLN.L - Volatility Comparison
The current volatility for iShares V PLC - iShares Italy Govt Bond UCITS ETF EUR (Dist) (ITEB.L) is 1.12%, while iShares Physical Gold ETC (IGLN.L) has a volatility of 7.51%. This indicates that ITEB.L experiences smaller price fluctuations and is considered to be less risky than IGLN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ITEB.L | IGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 7.51% | -6.39% |
Volatility (6M)Calculated over the trailing 6-month period | 4.19% | 22.51% | -18.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.81% | 25.62% | -20.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.19% | 17.25% | -11.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.19% | 15.78% | -9.59% |
Dividends
ITEB.L vs. IGLN.L - Dividend Comparison
ITEB.L's dividend yield for the trailing twelve months is around 2.87%, while IGLN.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
IGLN.L iShares Physical Gold ETC | 0.00% | 0.00% | 0.00% | 0.00% |
ITEB.L iShares V PLC - iShares Italy Govt Bond UCITS ETF EUR (Dist) | 2.87% | 2.81% | 2.58% | 2.25% |
Frequently Asked Questions
ITEB.L and IGLN.L have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ITEB.L is categorized as Government Bonds, while IGLN.L is Gold. ITEB.L tracks iShares V PLC - iShares Italy Govt Bond UCITS ETF EUR (Dist), while IGLN.L tracks LBMA Gold Price.
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