SUOP.L vs. GLAB.L
SUOP.L (iShares USD Corporate Bond ESG SRI UCITS ETF GBP Hedged (Dist)) and GLAB.L (SPDR Bloomberg Global Aggregate Bond UCITS ETF GBP Hedged) are both exchange-traded funds - SUOP.L is a Corporate Bonds fund tracking the Bloomberg MSCI US Corporate ESG SRI Index (USD), while GLAB.L is a Global Bonds fund tracking the Bloomberg Global Aggregate TR Hdg GBP. Both are passively managed. Over the past 5 years, SUOP.L returned -0.63%/yr vs -0.00%/yr for GLAB.L. Their correlation of 0.83 suggests significant overlap in exposure. SUOP.L charges 0.17%/yr vs 0.10%/yr for GLAB.L.
Performance
SUOP.L vs. GLAB.L - Performance Comparison
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Returns By Period
In the year-to-date period, SUOP.L achieves a -0.30% return, which is significantly lower than GLAB.L's 0.52% return.
SUOP.L
- 1D
- 0.00%
- 1M
- -0.73%
- 6M
- -0.07%
- YTD
- -0.30%
- 1Y
- 3.67%
- 3Y*
- 4.14%
- 5Y*
- -0.63%
- 10Y*
- —
GLAB.L
- 1D
- 0.11%
- 1M
- -0.38%
- 6M
- 0.38%
- YTD
- 0.52%
- 1Y
- 3.03%
- 3Y*
- 3.78%
- 5Y*
- -0.00%
- 10Y*
- —
SUOP.L vs. GLAB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SUOP.L iShares USD Corporate Bond ESG SRI UCITS ETF GBP Hedged (Dist) | -0.30% | 7.21% | 2.00% | 6.65% | -15.85% | 1.60% |
GLAB.L SPDR Bloomberg Global Aggregate Bond UCITS ETF GBP Hedged | 0.52% | 4.69% | 3.04% | 5.75% | -12.07% | 0.76% |
Correlation
The correlation between SUOP.L and GLAB.L is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since May 21, 2021 | 0.83 |
The correlation between SUOP.L and GLAB.L has been stable across timeframes, ranging from 0.80 to 0.85 - a consistent structural relationship.
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Return for Risk
SUOP.L vs. GLAB.L — Risk / Return Rank
SUOP.L
GLAB.L
SUOP.L vs. GLAB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Corporate Bond ESG SRI UCITS ETF GBP Hedged (Dist) (SUOP.L) and SPDR Bloomberg Global Aggregate Bond UCITS ETF GBP Hedged (GLAB.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.
| SUOP.L | GLAB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.17 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.29 | 1.32 | -0.03 |
| Martin ratioReturn relative to average drawdown | 3.48 | 3.62 | -0.13 |
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Drawdowns
SUOP.L vs. GLAB.L - Drawdown Comparison
The maximum SUOP.L drawdown since its inception was -22.17%, which is greater than GLAB.L's maximum drawdown of -15.67%. Use the drawdown chart below to compare losses from any high point for SUOP.L and GLAB.L.
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Drawdown Indicators
| SUOP.L | GLAB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.17% | -15.67% | -6.50% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -2.29% | -0.54% |
Max Drawdown (3Y)Largest decline over 3 years | -6.01% | -3.52% | -2.49% |
Max Drawdown (5Y)Largest decline over 5 years | -22.17% | -15.44% | -6.73% |
Current DrawdownCurrent decline from peak | -4.05% | -1.01% | -3.04% |
Average DrawdownAverage peak-to-trough decline | -9.80% | -4.42% | -5.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 0.84% | +0.21% |
Volatility
SUOP.L vs. GLAB.L - Volatility Comparison
iShares USD Corporate Bond ESG SRI UCITS ETF GBP Hedged (Dist) (SUOP.L) has a higher volatility of 1.02% compared to SPDR Bloomberg Global Aggregate Bond UCITS ETF GBP Hedged (GLAB.L) at 0.86%. This indicates that SUOP.L's price experiences larger fluctuations and is considered to be riskier than GLAB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SUOP.L | GLAB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.02% | 0.86% | +0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 3.40% | 2.57% | +0.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.58% | 3.11% | +1.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.88% | 4.48% | +2.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.80% | 3.88% | +2.92% |
SUOP.L vs. GLAB.L - Expense Ratio Comparison
SUOP.L has a 0.17% expense ratio, which is higher than GLAB.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
SUOP.L vs. GLAB.L - Dividend Comparison
SUOP.L's dividend yield for the trailing twelve months is around 4.92%, more than GLAB.L's 3.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
GLAB.L SPDR Bloomberg Global Aggregate Bond UCITS ETF GBP Hedged | 3.09% | 3.06% | 2.70% | 1.91% | 1.48% | 1.18% | 1.51% | 1.70% | 0.88% |
SUOP.L iShares USD Corporate Bond ESG SRI UCITS ETF GBP Hedged (Dist) | 4.92% | 4.74% | 4.68% | 4.13% | 4.04% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SUOP.L and GLAB.L have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLAB.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLAB.L is cheaper with a 0.10% expense ratio, compared with 0.17% for SUOP.L.
SUOP.L is categorized as Corporate Bonds, while GLAB.L is Global Bonds. SUOP.L tracks Bloomberg MSCI US Corporate ESG SRI Index (USD), while GLAB.L tracks Bloomberg Global Aggregate TR Hdg GBP. They also come from different issuers: iShares and State Street. Their fees differ too: 0.17% for SUOP.L and 0.10% for GLAB.L.
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