SKUK.AS vs. IGDA.L

Last updated Jul 21, 2026

SKUK.AS (iShares $ Sukuk UCITS ETF USD (Dist)) and IGDA.L (Invesco Dow Jones Islamic Global Developed Markets UCITS ETF USD Acc) are both exchange-traded funds - SKUK.AS is a Emerging Markets Bonds fund tracking the J.P. Morgan EM Aggregate Sukuk Index, while IGDA.L is a Global Equities fund tracking the Dow Jones Islamic Market Developed Markets Index. Both are passively managed. Over the past year, SKUK.AS returned 3.40% vs 23.79% for IGDA.L. At a 0.27 correlation, their price movements are largely independent. Both charge a 0.40% expense ratio.

Performance

SKUK.AS vs. IGDA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares $ Sukuk UCITS ETF USD (Dist) (SKUK.AS) and Invesco Dow Jones Islamic Global Developed Markets UCITS ETF USD Acc (IGDA.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SKUK.AS achieves a -0.12% return, which is significantly lower than IGDA.L's 11.49% return.

SKUK.AS

• 1D: 0.00%
• 1M: -0.31%
• 6M: 0.29%
• YTD: -0.12%
• 1Y: 3.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.07%

IGDA.L

• 1D: 0.57%
• 1M: -2.07%
• 6M: 11.17%
• YTD: 11.49%
• 1Y: 23.79%
• 3Y*: 18.05%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.93%

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

SKUK.AS vs. IGDA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SKUK.AS iShares $ Sukuk UCITS ETF USD (Dist)	-0.12%	5.00%	5.37%
IGDA.L Invesco Dow Jones Islamic Global Developed Markets UCITS ETF USD Acc	11.49%	18.76%	18.46%

Correlation

The correlation between SKUK.AS and IGDA.L is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (All Time) Calculated using the full available price history since Jan 17, 2024	0.27

The correlation between SKUK.AS and IGDA.L shifts across timeframes, from 0.27 (all time) to 0.41 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SKUK.AS vs. IGDA.L — Risk / Return Rank

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

SKUK.AS

SKUK.AS Risk / Return Rank: 37
SKUK.AS Sharpe Ratio Rank: 39
SKUK.AS Sortino Ratio Rank: 42
SKUK.AS Omega Ratio Rank: 43
SKUK.AS Calmar Ratio Rank: 28
SKUK.AS Martin Ratio Rank: 34

IGDA.L

IGDA.L Risk / Return Rank: 66
IGDA.L Sharpe Ratio Rank: 65
IGDA.L Sortino Ratio Rank: 68
IGDA.L Omega Ratio Rank: 62
IGDA.L Calmar Ratio Rank: 66
IGDA.L Martin Ratio Rank: 68

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.

SKUK.AS vs. IGDA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares $ Sukuk UCITS ETF USD (Dist) (SKUK.AS) and Invesco Dow Jones Islamic Global Developed Markets UCITS ETF USD Acc (IGDA.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.

	SKUK.AS	IGDA.L	Difference
Sharpe ratio: Return per unit of total volatility	1.06	1.60	-0.54
Sortino ratio: Return per unit of downside risk	1.64	2.33	-0.69
Omega ratio: Gain probability vs. loss probability	1.21	1.28	-0.07
Calmar ratio: Return relative to maximum drawdown	1.01	2.44	-1.43
Martin ratio: Return relative to average drawdown	3.73	9.00	-5.27

SKUK.AS vs. IGDA.L - Sharpe Ratio Comparison

The current SKUK.AS Sharpe Ratio is 1.06, which is lower than the IGDA.L Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of SKUK.AS and IGDA.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.

Drawdowns

SKUK.AS vs. IGDA.L - Drawdown Comparison

The maximum SKUK.AS drawdown since its inception was -3.33%, smaller than the maximum IGDA.L drawdown of -27.14%. Use the drawdown chart below to compare losses from any high point for SKUK.AS and IGDA.L.

Drawdown Indicators

	SKUK.AS	IGDA.L	Difference
Max Drawdown Largest peak-to-trough decline	-3.33%	-27.14%	+23.81%
Max Drawdown (1Y) Largest decline over 1 year	-3.33%	-9.69%	+6.36%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.14%	—
Current Drawdown Current decline from peak	-0.89%	-4.22%	+3.33%
Average Drawdown Average peak-to-trough decline	-0.65%	-6.96%	+6.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.91%	2.64%	-1.73%

Volatility

SKUK.AS vs. IGDA.L - Volatility Comparison

The current volatility for iShares $ Sukuk UCITS ETF USD (Dist) (SKUK.AS) is 0.59%, while Invesco Dow Jones Islamic Global Developed Markets UCITS ETF USD Acc (IGDA.L) has a volatility of 4.56%. This indicates that SKUK.AS experiences smaller price fluctuations and is considered to be less risky than IGDA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SKUK.AS	IGDA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.59%	4.56%	-3.97%
Volatility (6M) Calculated over the trailing 6-month period	2.81%	11.91%	-9.10%
Volatility (1Y) Calculated over the trailing 1-year period	3.20%	14.84%	-11.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.15%	17.66%	-14.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.15%	17.66%	-14.51%

SKUK.AS vs. IGDA.L - Expense Ratio Comparison

Both SKUK.AS and IGDA.L have an expense ratio of 0.40%.

Dividends

SKUK.AS vs. IGDA.L - Dividend Comparison

SKUK.AS's dividend yield for the trailing twelve months is around 4.81%, while IGDA.L has not paid dividends to shareholders.

Position	TTM	2025	2024
IGDA.L Invesco Dow Jones Islamic Global Developed Markets UCITS ETF USD Acc	0.00%	0.00%	0.00%
SKUK.AS iShares $ Sukuk UCITS ETF USD (Dist)	4.81%	2.41%	4.00%

Frequently Asked Questions

Can I hold both SKUK.AS and IGDA.L in my portfolio?

SKUK.AS and IGDA.L have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SKUK.AS or IGDA.L?

Both ETFs have the same 0.40% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SKUK.AS or IGDA.L?

SKUK.AS and IGDA.L have the same expense ratio: 0.40% per year.

What is the main difference between SKUK.AS and IGDA.L?

SKUK.AS is categorized as Emerging Markets Bonds, while IGDA.L is Global Equities. SKUK.AS tracks J.P. Morgan EM Aggregate Sukuk Index, while IGDA.L tracks Dow Jones Islamic Market Developed Markets Index. They also come from different issuers: iShares and Invesco.