JG15.L vs. ITEB.L
JG15.L (JPMorgan BetaBuilders UK Gilt 1-5 UCITS ETF - GBP (Dist)) and ITEB.L (iShares Italy Govt Bond UCITS ETF GBP Hedged (Dist)) are both European Government Bonds funds - JG15.L tracks the FTSE Act UK Cnvt Gilts All Stocks TR GBP while ITEB.L tracks the Bloomberg Italy Treasury Bond Index. Both are passively managed. Over the past 3 years, JG15.L returned 4.39%/yr vs 5.84%/yr for ITEB.L. A 0.62 correlation means they provide meaningful diversification when combined. JG15.L charges 0.07%/yr vs 0.22%/yr for ITEB.L.
Performance
JG15.L vs. ITEB.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with JG15.L having a 0.48% return and ITEB.L slightly higher at 0.50%.
JG15.L
- 1D
- 0.01%
- 1M
- -0.29%
- 6M
- 0.21%
- YTD
- 0.48%
- 1Y
- 2.68%
- 3Y*
- 4.39%
- 5Y*
- 0.88%
- 10Y*
- —
ITEB.L
- 1D
- -0.18%
- 1M
- -0.92%
- 6M
- -0.22%
- YTD
- 0.50%
- 1Y
- 2.68%
- 3Y*
- 5.84%
- 5Y*
- —
- 10Y*
- —
JG15.L vs. ITEB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JG15.L JPMorgan BetaBuilders UK Gilt 1-5 UCITS ETF - GBP (Dist) | 0.48% | 5.58% | 1.79% | 3.85% | 2.48% |
ITEB.L iShares Italy Govt Bond UCITS ETF GBP Hedged (Dist) | 0.50% | 5.10% | 6.13% | 10.70% | 0.86% |
Correlation
The correlation between JG15.L and ITEB.L is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2022 | 0.62 |
The correlation between JG15.L and ITEB.L has been stable across timeframes, ranging from 0.62 to 0.71 - a consistent structural relationship.
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Return for Risk
JG15.L vs. ITEB.L — Risk / Return Rank
JG15.L
ITEB.L
JG15.L vs. ITEB.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 iShares Italy Govt Bond UCITS ETF GBP Hedged (Dist) (ITEB.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.
| JG15.L | ITEB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.53 | ||
| Sortino ratioReturn per unit of downside risk | +0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.12 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.14 | 0.71 | +0.43 |
| Martin ratioReturn relative to average drawdown | 3.44 | 2.22 | +1.22 |
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Drawdowns
JG15.L vs. ITEB.L - Drawdown Comparison
The maximum JG15.L drawdown since its inception was -11.34%, which is greater than ITEB.L's maximum drawdown of -5.97%. Use the drawdown chart below to compare losses from any high point for JG15.L and ITEB.L.
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Drawdown Indicators
| JG15.L | ITEB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.34% | -5.97% | -5.37% |
Max Drawdown (1Y)Largest decline over 1 year | -2.35% | -4.03% | +1.68% |
Max Drawdown (3Y)Largest decline over 3 years | -2.35% | -4.03% | +1.68% |
Max Drawdown (5Y)Largest decline over 5 years | -10.68% | — | — |
Current DrawdownCurrent decline from peak | -0.69% | -1.61% | +0.92% |
Average DrawdownAverage peak-to-trough decline | -2.37% | -1.24% | -1.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 1.29% | -0.51% |
Volatility
JG15.L vs. ITEB.L - Volatility Comparison
The current volatility for JPMorgan BetaBuilders UK Gilt 1-5 UCITS ETF - GBP (Dist) (JG15.L) is 0.72%, while iShares Italy Govt Bond UCITS ETF GBP Hedged (Dist) (ITEB.L) has a volatility of 1.12%. This indicates that JG15.L experiences smaller price fluctuations and is considered to be less risky than ITEB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JG15.L | ITEB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.72% | 1.12% | -0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 2.17% | 4.19% | -2.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.39% | 4.81% | -2.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.07% | 6.19% | -3.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.54% | 6.19% | -3.65% |
JG15.L vs. ITEB.L - Expense Ratio Comparison
JG15.L has a 0.07% expense ratio, which is lower than ITEB.L's 0.22% 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. ITEB.L - Dividend Comparison
JG15.L's dividend yield for the trailing twelve months is around 3.82%, more than ITEB.L's 2.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ITEB.L iShares Italy Govt Bond UCITS ETF GBP Hedged (Dist) | 2.87% | 2.81% | 2.58% | 2.25% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JG15.L JPMorgan BetaBuilders UK Gilt 1-5 UCITS ETF - GBP (Dist) | 3.82% | 3.71% | 3.44% | 2.28% | 0.68% | 0.12% | 0.34% | 0.91% | 0.35% |
Frequently Asked Questions
JG15.L and ITEB.L have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
JG15.L is cheaper with a 0.07% expense ratio, compared with 0.22% for ITEB.L.
JG15.L tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP, while ITEB.L tracks Bloomberg Italy Treasury Bond Index. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.07% for JG15.L and 0.22% for ITEB.L.
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