IUAE.L vs. GOVD.L
IUAE.L (iShares US Aggregate Bond UCITS ETF) and GOVD.L (Lyxor Core Global Government Bond (DR) UCITS ETF - Dist) are both Global Bonds funds - IUAE.L tracks the iShares US Aggregate Bond UCITS ETF while GOVD.L tracks the Bloomberg Global Aggregate TR USD. Both are passively managed. Over the past 5 years, IUAE.L returned -2.40%/yr vs -2.75%/yr for GOVD.L. At a 0.46 correlation, their price movements are largely independent. IUAE.L charges 0.30%/yr vs 0.09%/yr for GOVD.L.
Performance
IUAE.L vs. GOVD.L - Performance Comparison
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Different Trading Currencies
IUAE.L is traded in EUR, while GOVD.L is traded in GBP. To make them comparable, the GOVD.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, IUAE.L achieves a -1.30% return, which is significantly lower than GOVD.L's 0.89% return.
IUAE.L
- 1D
- -0.07%
- 1M
- -0.90%
- 6M
- -1.30%
- YTD
- -1.30%
- 1Y
- 2.05%
- 3Y*
- 1.62%
- 5Y*
- -2.40%
- 10Y*
- —
GOVD.L
- 1D
- 0.15%
- 1M
- 0.55%
- 6M
- 0.32%
- YTD
- 0.89%
- 1Y
- 1.50%
- 3Y*
- 0.56%
- 5Y*
- -2.75%
- 10Y*
- —
IUAE.L vs. GOVD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IUAE.L iShares US Aggregate Bond UCITS ETF | -1.30% | 4.73% | -0.64% | 2.65% | -15.00% | -2.82% | 0.67% |
GOVD.L Lyxor Core Global Government Bond (DR) UCITS ETF - Dist | 0.89% | -5.41% | 2.96% | 0.96% | -13.20% | 0.14% | -21.91% |
Correlation
The correlation between IUAE.L and GOVD.L is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jun 24, 2020 | 0.46 |
The correlation between IUAE.L and GOVD.L shifts across timeframes, from 0.28 (1 year) to 0.48 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IUAE.L vs. GOVD.L — Risk / Return Rank
IUAE.L
GOVD.L
IUAE.L vs. GOVD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares US Aggregate Bond UCITS ETF (IUAE.L) and Lyxor Core Global Government Bond (DR) UCITS ETF - Dist (GOVD.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.
| IUAE.L | GOVD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.48 | ||
| Sortino ratioReturn per unit of downside risk | -0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.33 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.59 | 0.05 | +0.54 |
| Martin ratioReturn relative to average drawdown | 1.55 | 0.06 | +1.49 |
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Drawdowns
IUAE.L vs. GOVD.L - Drawdown Comparison
The maximum IUAE.L drawdown since its inception was -22.73%, smaller than the maximum GOVD.L drawdown of -34.99%. Use the drawdown chart below to compare losses from any high point for IUAE.L and GOVD.L.
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Drawdown Indicators
| IUAE.L | GOVD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.73% | -34.99% | +12.26% |
Max Drawdown (1Y)Largest decline over 1 year | -3.45% | -27.32% | +23.87% |
Max Drawdown (3Y)Largest decline over 3 years | -6.30% | -27.32% | +21.02% |
Max Drawdown (5Y)Largest decline over 5 years | -21.15% | -27.32% | +6.17% |
Current DrawdownCurrent decline from peak | -13.83% | -32.83% | +19.00% |
Average DrawdownAverage peak-to-trough decline | -9.19% | -28.70% | +19.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.32% | 23.25% | -21.93% |
Volatility
IUAE.L vs. GOVD.L - Volatility Comparison
The current volatility for iShares US Aggregate Bond UCITS ETF (IUAE.L) is 1.22%, while Lyxor Core Global Government Bond (DR) UCITS ETF - Dist (GOVD.L) has a volatility of 41.14%. This indicates that IUAE.L experiences smaller price fluctuations and is considered to be less risky than GOVD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IUAE.L | GOVD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 41.14% | -39.92% |
Volatility (6M)Calculated over the trailing 6-month period | 3.19% | 120.72% | -117.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.13% | 149.36% | -145.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.16% | 67.37% | -61.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.51% | 61.67% | -56.16% |
IUAE.L vs. GOVD.L - Expense Ratio Comparison
IUAE.L has a 0.30% expense ratio, which is higher than GOVD.L's 0.09% expense ratio.
Dividends
IUAE.L vs. GOVD.L - Dividend Comparison
IUAE.L has not paid dividends to shareholders, while GOVD.L's dividend yield for the trailing twelve months is around 2.74%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
GOVD.L Lyxor Core Global Government Bond (DR) UCITS ETF - Dist | 2.74% | 2.68% | 2.45% | 1.64% | 1.28% | 1.23% | 0.48% |
IUAE.L iShares US Aggregate Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IUAE.L and GOVD.L have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GOVD.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GOVD.L is cheaper with a 0.09% expense ratio, compared with 0.30% for IUAE.L.
IUAE.L tracks iShares US Aggregate Bond UCITS ETF, while GOVD.L tracks Bloomberg Global Aggregate TR USD. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.30% for IUAE.L and 0.09% for GOVD.L.
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