SDEU.L vs. JG15.L
SDEU.L (iShares Germany Government Bond UCITS ETF (Dist)) and JG15.L (JPMorgan BetaBuilders UK Gilt 1-5 UCITS ETF - GBP (Dist)) are both European Government Bonds funds - SDEU.L tracks the Bloomberg Euro Agg Govt TR EUR while JG15.L tracks the FTSE Act UK Cnvt Gilts All Stocks TR GBP. Both are passively managed. Over the past 5 years, SDEU.L returned -2.81%/yr vs 0.78%/yr for JG15.L. A 0.55 correlation means they provide meaningful diversification when combined. SDEU.L charges 0.20%/yr vs 0.07%/yr for JG15.L.
Performance
SDEU.L vs. JG15.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 JG15.L's 0.04% 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%
JG15.L
- 1D
- -0.16%
- 1M
- 0.28%
- YTD
- 0.04%
- 6M
- 0.38%
- 1Y
- 2.83%
- 3Y*
- 3.95%
- 5Y*
- 0.78%
- 10Y*
- —
SDEU.L vs. JG15.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SDEU.L iShares Germany Government Bond UCITS ETF (Dist) | -1.11% | 3.89% | -3.80% | 2.90% | -13.18% | -9.06% | 8.46% | -2.18% | 3.74% |
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% |
Correlation
The correlation between SDEU.L and JG15.L is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Jun 13, 2018 | 0.55 |
The correlation between SDEU.L and JG15.L has been stable across timeframes, ranging from 0.49 to 0.59 - a consistent structural relationship.
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Return for Risk
SDEU.L vs. JG15.L — Risk / Return Rank
SDEU.L
JG15.L
SDEU.L vs. JG15.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 JPMorgan BetaBuilders UK Gilt 1-5 UCITS ETF - GBP (Dist) (JG15.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 | JG15.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.88 | ||
| Sortino ratioReturn per unit of downside risk | -1.23 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.24 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.39 | 1.17 | -0.79 |
| Martin ratioReturn relative to average drawdown | 0.81 | 3.72 | -2.92 |
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 | JG15.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.31 | 1.19 | -0.88 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.38 | 0.26 | -0.63 |
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 | 0.34 | -0.28 |
Drawdowns
SDEU.L vs. JG15.L - Drawdown Comparison
The maximum SDEU.L drawdown since its inception was -27.61%, which is greater than JG15.L's maximum drawdown of -11.35%. Use the drawdown chart below to compare losses from any high point for SDEU.L and JG15.L.
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Drawdown Indicators
| SDEU.L | JG15.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.61% | -11.35% | -16.26% |
Max Drawdown (1Y)Largest decline over 1 year | -4.18% | -2.35% | -1.83% |
Max Drawdown (3Y)Largest decline over 3 years | -7.00% | -2.35% | -4.65% |
Max Drawdown (5Y)Largest decline over 5 years | -20.62% | -10.68% | -9.94% |
Max Drawdown (10Y)Largest decline over 10 years | -27.61% | — | — |
Current DrawdownCurrent decline from peak | -23.00% | -1.13% | -21.87% |
Average DrawdownAverage peak-to-trough decline | -11.22% | -2.42% | -8.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.00% | 0.74% | +1.26% |
Volatility
SDEU.L vs. JG15.L - Volatility Comparison
iShares Germany Government Bond UCITS ETF (Dist) (SDEU.L) has a higher volatility of 1.61% compared to JPMorgan BetaBuilders UK Gilt 1-5 UCITS ETF - GBP (Dist) (JG15.L) at 0.97%. This indicates that SDEU.L's price experiences larger fluctuations and is considered to be riskier than JG15.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 | JG15.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.61% | 0.97% | +0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 3.81% | 2.07% | +1.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.15% | 2.32% | +2.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.39% | 3.05% | +4.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.60% | 2.55% | +6.05% |
SDEU.L vs. JG15.L - Expense Ratio Comparison
SDEU.L has a 0.20% expense ratio, which is higher than JG15.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. JG15.L - Dividend Comparison
SDEU.L's dividend yield for the trailing twelve months is around 2.53%, less than JG15.L's 3.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
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 JG15.L have a correlation of 0.49, 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 0.20% for SDEU.L.
SDEU.L tracks Bloomberg Euro Agg Govt TR EUR, while JG15.L tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.20% for SDEU.L and 0.07% for JG15.L.
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