SLXX.L vs. IGCB.L
SLXX.L (iShares Core £ Corp Bond UCITS ETF) and IGCB.L (Invesco GBP Corporate Bond UCITS ETF Dist) are both exchange-traded funds - SLXX.L is a Corporate Bonds fund tracking the Markit iBoxx GBP Liquid Corporates Large Cap Index, while IGCB.L is a European Corporate Bonds fund tracking the Markit iBoxx GBP NonGilts TR. Both are passively managed. Over the past 5 years, SLXX.L returned -0.71%/yr vs -0.54%/yr for IGCB.L. Their correlation of 0.83 suggests significant overlap in exposure. SLXX.L charges 0.20%/yr vs 0.10%/yr for IGCB.L.
Performance
SLXX.L vs. IGCB.L - Performance Comparison
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Different Trading Currencies
SLXX.L is traded in GBP, while IGCB.L is traded in GBp. To make them comparable, the IGCB.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, SLXX.L achieves a 1.00% return, which is significantly higher than IGCB.L's 0.91% return.
SLXX.L
- 1D
- 0.01%
- 1M
- 1.41%
- YTD
- 1.00%
- 6M
- 1.19%
- 1Y
- 4.49%
- 3Y*
- 6.37%
- 5Y*
- -0.71%
- 10Y*
- 1.90%
IGCB.L
- 1D
- 0.04%
- 1M
- 1.35%
- YTD
- 0.91%
- 6M
- 1.21%
- 1Y
- 4.38%
- 3Y*
- 6.65%
- 5Y*
- -0.54%
- 10Y*
- —
SLXX.L vs. IGCB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SLXX.L iShares Core £ Corp Bond UCITS ETF | 1.00% | 6.50% | 1.60% | 8.54% | -18.36% | -4.01% | 6.16% |
IGCB.L Invesco GBP Corporate Bond UCITS ETF Dist | 0.91% | 6.83% | 1.93% | 9.20% | -18.57% | -4.00% | 6.95% |
Correlation
The correlation between SLXX.L and IGCB.L is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Mar 5, 2020 | 0.83 |
The correlation between SLXX.L and IGCB.L shifts across timeframes, from 0.75 (1 year) to 0.86 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SLXX.L vs. IGCB.L — Risk / Return Rank
SLXX.L
IGCB.L
SLXX.L vs. IGCB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core £ Corp Bond UCITS ETF (SLXX.L) and Invesco GBP Corporate Bond UCITS ETF Dist (IGCB.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.
| SLXX.L | IGCB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.13 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.05 | 1.09 | -0.04 |
| Martin ratioReturn relative to average drawdown | 3.22 | 3.11 | +0.11 |
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Drawdowns
SLXX.L vs. IGCB.L - Drawdown Comparison
The maximum SLXX.L drawdown since its inception was -30.27%, roughly equal to the maximum IGCB.L drawdown of -30.44%. Use the drawdown chart below to compare losses from any high point for SLXX.L and IGCB.L.
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Drawdown Indicators
| SLXX.L | IGCB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.27% | -30.44% | +0.17% |
Max Drawdown (1Y)Largest decline over 1 year | -4.25% | -4.00% | -0.25% |
Max Drawdown (3Y)Largest decline over 3 years | -4.25% | -4.00% | -0.25% |
Max Drawdown (5Y)Largest decline over 5 years | -29.34% | -29.39% | +0.05% |
Max Drawdown (10Y)Largest decline over 10 years | -30.27% | — | — |
Current DrawdownCurrent decline from peak | -7.12% | -6.47% | -0.65% |
Average DrawdownAverage peak-to-trough decline | -5.99% | -11.31% | +5.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.39% | 1.41% | -0.02% |
Volatility
SLXX.L vs. IGCB.L - Volatility Comparison
iShares Core £ Corp Bond UCITS ETF (SLXX.L) and Invesco GBP Corporate Bond UCITS ETF Dist (IGCB.L) have volatilities of 1.34% and 1.33%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLXX.L | IGCB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.34% | 1.33% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 4.89% | 4.87% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.60% | 5.92% | -0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.06% | 7.65% | +0.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.08% | 7.73% | +0.35% |
SLXX.L vs. IGCB.L - Expense Ratio Comparison
SLXX.L has a 0.20% expense ratio, which is higher than IGCB.L's 0.10% 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
SLXX.L vs. IGCB.L - Dividend Comparison
SLXX.L's dividend yield for the trailing twelve months is around 4.99%, less than IGCB.L's 5.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGCB.L Invesco GBP Corporate Bond UCITS ETF Dist | 5.29% | 5.18% | 5.18% | 4.26% | 2.54% | 1.74% | 1.22% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SLXX.L iShares Core £ Corp Bond UCITS ETF | 4.99% | 4.82% | 4.68% | 4.06% | 2.75% | 2.06% | 2.12% | 2.44% | 2.71% | 2.73% | 2.99% | 3.39% |
Frequently Asked Questions
SLXX.L and IGCB.L have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGCB.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGCB.L is cheaper with a 0.10% expense ratio, compared with 0.20% for SLXX.L.
SLXX.L is categorized as Corporate Bonds, while IGCB.L is European Corporate Bonds. SLXX.L tracks Markit iBoxx GBP Liquid Corporates Large Cap Index, while IGCB.L tracks Markit iBoxx GBP NonGilts TR. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.20% for SLXX.L and 0.10% for IGCB.L.
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