IUAG.L vs. IUGA.L
IUAG.L (iShares US Aggregate Bond UCITS ETF USD Distributing) and IUGA.L (iShares US Aggregate Bond UCITS ETF GBP Hedged (Dist)) are both exchange-traded funds - IUAG.L is a Total Bond Market fund tracking the Bloomberg US Aggregate Bond Index, while IUGA.L is a Intermediate Core Bond fund tracking the Bloomberg US Aggregate Bond (GBP Hedged) Index. Both are passively managed. Over the past 5 years, IUAG.L returned -0.36%/yr vs -1.40%/yr for IUGA.L. A 0.50 correlation means they provide meaningful diversification when combined. IUAG.L charges 0.25%/yr vs 0.30%/yr for IUGA.L.
Performance
IUAG.L vs. IUGA.L - Performance Comparison
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Different Trading Currencies
IUAG.L is traded in USD, while IUGA.L is traded in GBP. To make them comparable, the IUGA.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IUAG.L achieves a -0.08% return, which is significantly higher than IUGA.L's -0.27% return.
IUAG.L
- 1D
- 0.32%
- 1M
- -0.49%
- 6M
- -0.10%
- YTD
- -0.08%
- 1Y
- 4.09%
- 3Y*
- 3.55%
- 5Y*
- -0.36%
- 10Y*
- 1.21%
IUGA.L
- 1D
- 0.02%
- 1M
- 0.73%
- 6M
- 0.55%
- YTD
- -0.27%
- 1Y
- 4.14%
- 3Y*
- 4.27%
- 5Y*
- -1.40%
- 10Y*
- —
IUAG.L vs. IUGA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IUAG.L iShares US Aggregate Bond UCITS ETF USD Distributing | -0.08% | 7.04% | 1.36% | 5.01% | -12.86% | -2.00% | 7.04% | 8.64% | 1.31% |
IUGA.L iShares US Aggregate Bond UCITS ETF GBP Hedged (Dist) | -0.27% | 14.76% | -0.74% | 9.53% | -23.14% | -3.05% | 9.31% | 11.16% | -10.07% |
Correlation
The correlation between IUAG.L and IUGA.L is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Apr 10, 2018 | 0.50 |
The correlation between IUAG.L and IUGA.L shifts across timeframes, from 0.50 (all time) to 0.64 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
IUAG.L vs. IUGA.L — Risk / Return Rank
IUAG.L
IUGA.L
IUAG.L vs. IUGA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares US Aggregate Bond UCITS ETF USD Distributing (IUAG.L) and iShares US Aggregate Bond UCITS ETF GBP Hedged (Dist) (IUGA.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.
| IUAG.L | IUGA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.51 | ||
| Sortino ratioReturn per unit of downside risk | +0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.09 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.35 | 0.76 | +0.59 |
| Martin ratioReturn relative to average drawdown | 3.69 | 1.60 | +2.08 |
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Drawdowns
IUAG.L vs. IUGA.L - Drawdown Comparison
The maximum IUAG.L drawdown since its inception was -19.01%, smaller than the maximum IUGA.L drawdown of -36.32%. Use the drawdown chart below to compare losses from any high point for IUAG.L and IUGA.L.
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Drawdown Indicators
| IUAG.L | IUGA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.01% | -36.32% | +17.31% |
Max Drawdown (1Y)Largest decline over 1 year | -3.02% | -5.39% | +2.37% |
Max Drawdown (3Y)Largest decline over 3 years | -5.97% | -13.23% | +7.26% |
Max Drawdown (5Y)Largest decline over 5 years | -18.19% | -36.10% | +17.91% |
Max Drawdown (10Y)Largest decline over 10 years | -19.01% | — | — |
Current DrawdownCurrent decline from peak | -3.45% | -8.86% | +5.41% |
Average DrawdownAverage peak-to-trough decline | -3.93% | -12.31% | +8.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.11% | 2.58% | -1.47% |
Volatility
IUAG.L vs. IUGA.L - Volatility Comparison
The current volatility for iShares US Aggregate Bond UCITS ETF USD Distributing (IUAG.L) is 1.20%, while iShares US Aggregate Bond UCITS ETF GBP Hedged (Dist) (IUGA.L) has a volatility of 1.92%. This indicates that IUAG.L experiences smaller price fluctuations and is considered to be less risky than IUGA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IUAG.L | IUGA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 1.92% | -0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 3.12% | 6.26% | -3.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.04% | 8.31% | -4.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.16% | 11.66% | -5.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.26% | 11.30% | -6.04% |
IUAG.L vs. IUGA.L - Expense Ratio Comparison
IUAG.L has a 0.25% expense ratio, which is lower than IUGA.L's 0.30% expense ratio.
Dividends
IUAG.L vs. IUGA.L - Dividend Comparison
IUAG.L's dividend yield for the trailing twelve months is around 3.90%, more than IUGA.L's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IUAG.L iShares US Aggregate Bond UCITS ETF USD Distributing | 3.90% | 3.72% | 3.62% | 3.02% | 2.12% | 1.72% | 2.05% | 2.64% | 2.44% | 2.04% | 1.72% | 1.60% |
IUGA.L iShares US Aggregate Bond UCITS ETF GBP Hedged (Dist) | 3.86% | 3.68% | 3.51% | 2.96% | 2.25% | 1.65% | 2.05% | 2.64% | 1.45% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IUAG.L and IUGA.L have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IUAG.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IUAG.L is cheaper with a 0.25% expense ratio, compared with 0.30% for IUGA.L.
IUAG.L is categorized as Total Bond Market, while IUGA.L is Intermediate Core Bond. IUAG.L tracks Bloomberg US Aggregate Bond Index, while IUGA.L tracks Bloomberg US Aggregate Bond (GBP Hedged) Index. Their fees differ too: 0.25% for IUAG.L and 0.30% for IUGA.L.
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