SSXF.L vs. GLAD.L
SSXF.L (iShares £ Corp Bond ex-Financials UCITS ETF GBP (Dist)) and GLAD.L (SPDR Bloomberg Global Aggregate Bond UCITS ETF USD Hedged (Acc)) are both exchange-traded funds - SSXF.L is a Corporate Bonds fund tracking the iBoxx Sterling Corporate Bond ex Financials Index, while GLAD.L is a Global Bonds fund tracking the Bloomberg Global Aggregate TR Hdg USD. Both are passively managed. Over the past 5 years, SSXF.L returned -2.18%/yr vs 1.08%/yr for GLAD.L. At a 0.30 correlation, their price movements are largely independent. SSXF.L charges 0.20%/yr vs 0.10%/yr for GLAD.L.
Performance
SSXF.L vs. GLAD.L - Performance Comparison
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Different Trading Currencies
SSXF.L is traded in EUR, while GLAD.L is traded in USD. To make them comparable, the GLAD.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, SSXF.L achieves a -0.24% return, which is significantly lower than GLAD.L's 3.24% return.
SSXF.L
- 1D
- -0.15%
- 1M
- 0.70%
- 6M
- 0.36%
- YTD
- -0.24%
- 1Y
- 3.15%
- 3Y*
- 5.05%
- 5Y*
- -2.18%
- 10Y*
- 0.31%
GLAD.L
- 1D
- 0.19%
- 1M
- 0.05%
- 6M
- 1.88%
- YTD
- 3.24%
- 1Y
- 4.45%
- 3Y*
- 3.35%
- 5Y*
- 1.08%
- 10Y*
- —
SSXF.L vs. GLAD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SSXF.L iShares £ Corp Bond ex-Financials UCITS ETF GBP (Dist) | -0.24% | 1.57% | 4.52% | 10.82% | -24.14% | 2.57% | 2.91% | 5.50% |
GLAD.L SPDR Bloomberg Global Aggregate Bond UCITS ETF USD Hedged (Acc) | 3.24% | -7.72% | 10.06% | 3.53% | -5.82% | 5.86% | -3.46% | -1.55% |
Correlation
The correlation between SSXF.L and GLAD.L is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2019 | 0.30 |
The correlation between SSXF.L and GLAD.L shifts across timeframes, from 0.22 (1 year) to 0.34 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SSXF.L vs. GLAD.L — Risk / Return Rank
SSXF.L
GLAD.L
SSXF.L vs. GLAD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares £ Corp Bond ex-Financials UCITS ETF GBP (Dist) (SSXF.L) and SPDR Bloomberg Global Aggregate Bond UCITS ETF USD Hedged (Acc) (GLAD.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.
| SSXF.L | GLAD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.13 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.56 | 0.99 | -0.43 |
| Martin ratioReturn relative to average drawdown | 1.25 | 2.80 | -1.55 |
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Drawdowns
SSXF.L vs. GLAD.L - Drawdown Comparison
The maximum SSXF.L drawdown since its inception was -33.80%, which is greater than GLAD.L's maximum drawdown of -11.86%. Use the drawdown chart below to compare losses from any high point for SSXF.L and GLAD.L.
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Drawdown Indicators
| SSXF.L | GLAD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.80% | -11.86% | -21.94% |
Max Drawdown (1Y)Largest decline over 1 year | -6.58% | -4.47% | -2.11% |
Max Drawdown (3Y)Largest decline over 3 years | -8.00% | -11.20% | +3.20% |
Max Drawdown (5Y)Largest decline over 5 years | -33.80% | -11.86% | -21.94% |
Max Drawdown (10Y)Largest decline over 10 years | -33.80% | — | — |
Current DrawdownCurrent decline from peak | -12.47% | -5.86% | -6.61% |
Average DrawdownAverage peak-to-trough decline | -8.30% | -6.08% | -2.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.94% | 1.59% | +1.35% |
Volatility
SSXF.L vs. GLAD.L - Volatility Comparison
iShares £ Corp Bond ex-Financials UCITS ETF GBP (Dist) (SSXF.L) has a higher volatility of 1.92% compared to SPDR Bloomberg Global Aggregate Bond UCITS ETF USD Hedged (Acc) (GLAD.L) at 1.43%. This indicates that SSXF.L's price experiences larger fluctuations and is considered to be riskier than GLAD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SSXF.L | GLAD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.92% | 1.43% | +0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 6.03% | 4.68% | +1.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.57% | 6.23% | +1.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.87% | 8.03% | +1.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.83% | 7.82% | +2.01% |
SSXF.L vs. GLAD.L - Expense Ratio Comparison
SSXF.L has a 0.20% expense ratio, which is higher than GLAD.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
SSXF.L vs. GLAD.L - Dividend Comparison
SSXF.L's dividend yield for the trailing twelve months is around 2.33%, while GLAD.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLAD.L SPDR Bloomberg Global Aggregate Bond UCITS ETF USD Hedged (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% |
SSXF.L iShares £ Corp Bond ex-Financials UCITS ETF GBP (Dist) | 2.33% | 4.34% | 3.88% | 3.14% | 3.09% | 2.23% | 2.35% | 2.55% | 2.89% | 2.90% | 3.78% | 2.01% |
Frequently Asked Questions
SSXF.L and GLAD.L have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLAD.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLAD.L is cheaper with a 0.10% expense ratio, compared with 0.20% for SSXF.L.
SSXF.L is categorized as Corporate Bonds, while GLAD.L is Global Bonds. SSXF.L tracks iBoxx Sterling Corporate Bond ex Financials Index, while GLAD.L tracks Bloomberg Global Aggregate TR Hdg USD. They also come from different issuers: iShares and State Street. Their fees differ too: 0.20% for SSXF.L and 0.10% for GLAD.L.
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