JG15.L vs. GLTY.L

Last updated Jun 5, 2026

JG15.L (JPMorgan BetaBuilders UK Gilt 1-5 UCITS ETF - GBP (Dist)) and GLTY.L (SPDR Bloomberg UK Gilt UCITS ETF) are both European Government Bonds funds tracking the FTSE Act UK Cnvt Gilts All Stocks TR GBP, from JPMorgan and State Street respectively. Both are passively managed. Over the past 5 years, JG15.L returned 0.78%/yr vs 73.61%/yr for GLTY.L. Their correlation of 0.81 suggests significant overlap in exposure. JG15.L charges 0.07%/yr vs 0.15%/yr for GLTY.L.

Performance

JG15.L vs. GLTY.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in JPMorgan BetaBuilders UK Gilt 1-5 UCITS ETF - GBP (Dist) (JG15.L) and SPDR Bloomberg UK Gilt UCITS ETF (GLTY.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JG15.L achieves a 0.04% return, which is significantly higher than GLTY.L's -3.03% return.

JG15.L

• 1D: -0.16%
• 1M: 0.64%
• YTD: 0.04%
• 6M: 0.25%
• 1Y: 2.74%
• 3Y*: 3.95%
• 5Y*: 0.78%
• 10Y*: —

GLTY.L

• 1D: 0.18%
• 1M: 1.50%
• YTD: -3.03%
• 6M: -3.19%
• 1Y: -1.74%
• 3Y*: 0.81%
• 5Y*: 73.61%
• 10Y*: 283.96%

*Multi-year figures are annualized to reflect compound growth (CAGR)

JG15.L vs. GLTY.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
JG15.L JPMorgan BetaBuilders UK Gilt 1-5 UCITS ETF - GBP (Dist)	0.04%	5.58%	1.79%	3.85%	-5.75%	-1.91%	1.86%	1.33%	0.58%
GLTY.L SPDR Bloomberg UK Gilt UCITS ETF	-3.03%	3.10%	-4.48%	279.86%	158.03%	169.82%	413.90%	596.36%	198.04%

Correlation

The correlation between JG15.L and GLTY.L is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jun 13, 2018	0.81

The correlation between JG15.L and GLTY.L has been stable across timeframes, ranging from 0.81 to 0.84 - a consistent structural relationship.

Return for Risk

JG15.L vs. GLTY.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JG15.L

JG15.L Risk / Return Rank: 31
JG15.L Sharpe Ratio Rank: 34
JG15.L Sortino Ratio Rank: 33
JG15.L Omega Ratio Rank: 36
JG15.L Calmar Ratio Rank: 25
JG15.L Martin Ratio Rank: 27

GLTY.L

GLTY.L Risk / Return Rank: 6
GLTY.L Sharpe Ratio Rank: 7
GLTY.L Sortino Ratio Rank: 6
GLTY.L Omega Ratio Rank: 6
GLTY.L Calmar Ratio Rank: 7
GLTY.L Martin Ratio Rank: 6

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JG15.L vs. GLTY.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders UK Gilt 1-5 UCITS ETF - GBP (Dist) (JG15.L) and SPDR Bloomberg UK Gilt UCITS ETF (GLTY.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.

	JG15.L	GLTY.L	Difference
Sharpe ratio: Return per unit of total volatility	1.19	-0.25	+1.44
Sortino ratio: Return per unit of downside risk	1.72	-0.28	+2.01
Omega ratio: Gain probability vs. loss probability	1.24	0.96	+0.27
Calmar ratio: Return relative to maximum drawdown	1.17	-0.27	+1.44
Martin ratio: Return relative to average drawdown	3.72	-0.62	+4.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JG15.L vs. GLTY.L - Sharpe Ratio Comparison

The current JG15.L Sharpe Ratio is 1.19, which is higher than the GLTY.L Sharpe Ratio of -0.25. The chart below compares the historical Sharpe Ratios of JG15.L and GLTY.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JG15.L	GLTY.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.19	-0.25	+1.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	0.54	-0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.12	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.82	-0.47

Drawdowns

JG15.L vs. GLTY.L - Drawdown Comparison

The maximum JG15.L drawdown since its inception was -11.35%, smaller than the maximum GLTY.L drawdown of -23.61%. Use the drawdown chart below to compare losses from any high point for JG15.L and GLTY.L.

Drawdown Indicators

	JG15.L	GLTY.L	Difference
Max Drawdown Largest peak-to-trough decline	-11.35%	-23.61%	+12.26%
Max Drawdown (1Y) Largest decline over 1 year	-2.35%	-6.40%	+4.05%
Max Drawdown (3Y) Largest decline over 3 years	-2.35%	-7.96%	+5.61%
Max Drawdown (5Y) Largest decline over 5 years	-10.68%	-23.61%	+12.93%
Max Drawdown (10Y) Largest decline over 10 years	—	-23.61%	—
Current Drawdown Current decline from peak	-1.13%	-6.40%	+5.27%
Average Drawdown Average peak-to-trough decline	-2.42%	-3.92%	+1.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.74%	2.80%	-2.06%

Volatility

JG15.L vs. GLTY.L - Volatility Comparison

The current volatility for JPMorgan BetaBuilders UK Gilt 1-5 UCITS ETF - GBP (Dist) (JG15.L) is 0.97%, while SPDR Bloomberg UK Gilt UCITS ETF (GLTY.L) has a volatility of 2.79%. This indicates that JG15.L experiences smaller price fluctuations and is considered to be less risky than GLTY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JG15.L	GLTY.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.97%	2.79%	-1.82%
Volatility (6M) Calculated over the trailing 6-month period	2.07%	5.50%	-3.43%
Volatility (1Y) Calculated over the trailing 1-year period	2.32%	6.94%	-4.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.05%	135.35%	-132.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.55%	251.59%	-249.04%

JG15.L vs. GLTY.L - Expense Ratio Comparison

JG15.L has a 0.07% expense ratio, which is lower than GLTY.L's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

JG15.L vs. GLTY.L - Dividend Comparison

JG15.L's dividend yield for the trailing twelve months is around 3.87%, while GLTY.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GLTY.L SPDR Bloomberg UK Gilt UCITS ETF	0.00%	1.74%	2.72%	74.77%	114.99%	84.01%	106.35%	119.69%	125.98%	157.59%	81.07%	1.87%
JG15.L JPMorgan BetaBuilders UK Gilt 1-5 UCITS ETF - GBP (Dist)	3.87%	3.71%	3.44%	2.28%	0.68%	0.12%	0.34%	0.91%	0.35%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JG15.L and GLTY.L in my portfolio?

JG15.L and GLTY.L have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JG15.L or GLTY.L?

On fees, JG15.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JG15.L or GLTY.L?

JG15.L is cheaper with a 0.07% expense ratio, compared with 0.15% for GLTY.L.

What is the main difference between JG15.L and GLTY.L?

Both ETFs track FTSE Act UK Cnvt Gilts All Stocks TR GBP. They also come from different issuers: JPMorgan and State Street. Their fees differ too: 0.07% for JG15.L and 0.15% for GLTY.L.