SDEU.L vs. IGL5.L
SDEU.L (iShares Germany Government Bond UCITS ETF (Dist)) and IGL5.L (iShares UK Gilts 0-5yr UCITS ETF GBP (Acc)) are both European Government Bonds funds from iShares - SDEU.L tracks the Bloomberg Euro Agg Govt TR EUR while IGL5.L tracks the FTSE Actuaries UK Conventional Gilts up to 5 Years Index (GBP). Both are passively managed. Over the past 3 years, SDEU.L returned 1.13%/yr vs 4.23%/yr for IGL5.L. A 0.56 correlation means they provide meaningful diversification when combined. SDEU.L charges 0.20%/yr vs 0.07%/yr for IGL5.L.
Performance
SDEU.L vs. IGL5.L - Performance Comparison
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Returns By Period
In the year-to-date period, SDEU.L achieves a -1.11% return, which is significantly lower than IGL5.L's 0.92% return.
SDEU.L
- 1D
- 0.24%
- 1M
- 0.20%
- YTD
- -1.11%
- 6M
- -1.01%
- 1Y
- 2.04%
- 3Y*
- 1.13%
- 5Y*
- -2.81%
- 10Y*
- -0.29%
IGL5.L
- 1D
- 0.09%
- 1M
- 0.39%
- YTD
- 0.92%
- 6M
- 0.73%
- 1Y
- 3.04%
- 3Y*
- 4.23%
- 5Y*
- —
- 10Y*
- —
SDEU.L vs. IGL5.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SDEU.L iShares Germany Government Bond UCITS ETF (Dist) | -1.11% | 3.89% | -3.80% | 4.68% |
IGL5.L iShares UK Gilts 0-5yr UCITS ETF GBP (Acc) | 0.92% | 4.56% | 2.68% | 4.14% |
Correlation
The correlation between SDEU.L and IGL5.L is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since May 24, 2023 | 0.56 |
The correlation between SDEU.L and IGL5.L shifts across timeframes, from 0.46 (1 year) to 0.56 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SDEU.L vs. IGL5.L — Risk / Return Rank
SDEU.L
IGL5.L
SDEU.L vs. IGL5.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Germany Government Bond UCITS ETF (Dist) (SDEU.L) and iShares UK Gilts 0-5yr UCITS ETF GBP (Acc) (IGL5.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.
| SDEU.L | IGL5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.17 | ||
| Sortino ratioReturn per unit of downside risk | -1.68 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.30 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 0.39 | 1.63 | -1.25 |
| Martin ratioReturn relative to average drawdown | 0.81 | 5.55 | -4.75 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SDEU.L | IGL5.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.31 | 1.48 | -1.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.38 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.03 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.06 | 1.88 | -1.82 |
Drawdowns
SDEU.L vs. IGL5.L - Drawdown Comparison
The maximum SDEU.L drawdown since its inception was -27.61%, which is greater than IGL5.L's maximum drawdown of -1.89%. Use the drawdown chart below to compare losses from any high point for SDEU.L and IGL5.L.
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Drawdown Indicators
| SDEU.L | IGL5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.61% | -1.89% | -25.72% |
Max Drawdown (1Y)Largest decline over 1 year | -4.18% | -1.89% | -2.29% |
Max Drawdown (3Y)Largest decline over 3 years | -7.00% | -1.89% | -5.11% |
Max Drawdown (5Y)Largest decline over 5 years | -20.62% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -27.61% | — | — |
Current DrawdownCurrent decline from peak | -23.00% | -0.64% | -22.36% |
Average DrawdownAverage peak-to-trough decline | -11.22% | -0.31% | -10.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.00% | 0.56% | +1.44% |
Volatility
SDEU.L vs. IGL5.L - Volatility Comparison
iShares Germany Government Bond UCITS ETF (Dist) (SDEU.L) has a higher volatility of 1.61% compared to iShares UK Gilts 0-5yr UCITS ETF GBP (Acc) (IGL5.L) at 0.70%. This indicates that SDEU.L's price experiences larger fluctuations and is considered to be riskier than IGL5.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SDEU.L | IGL5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.61% | 0.70% | +0.91% |
Volatility (6M)Calculated over the trailing 6-month period | 3.81% | 1.89% | +1.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.15% | 2.09% | +3.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.39% | 2.16% | +5.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.60% | 2.16% | +6.44% |
SDEU.L vs. IGL5.L - Expense Ratio Comparison
SDEU.L has a 0.20% expense ratio, which is higher than IGL5.L's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SDEU.L vs. IGL5.L - Dividend Comparison
SDEU.L's dividend yield for the trailing twelve months is around 2.53%, while IGL5.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGL5.L iShares UK Gilts 0-5yr UCITS ETF GBP (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SDEU.L iShares Germany Government Bond UCITS ETF (Dist) | 2.53% | 2.50% | 2.57% | 0.02% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.02% | 0.34% |
Frequently Asked Questions
SDEU.L and IGL5.L have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGL5.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGL5.L is cheaper with a 0.07% expense ratio, compared with 0.20% for SDEU.L.
SDEU.L tracks Bloomberg Euro Agg Govt TR EUR, while IGL5.L tracks FTSE Actuaries UK Conventional Gilts up to 5 Years Index (GBP). Their fees differ too: 0.20% for SDEU.L and 0.07% for IGL5.L.
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