SUOP.L vs. GLAD.L
SUOP.L (iShares USD Corporate Bond ESG SRI UCITS ETF GBP Hedged (Dist)) and GLAD.L (SPDR Bloomberg Global Aggregate Bond UCITS ETF USD Hedged (Acc)) are both exchange-traded funds - SUOP.L is a Corporate Bonds fund tracking the Bloomberg MSCI US Corporate ESG SRI Index (USD), 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, SUOP.L returned -0.63%/yr vs 0.90%/yr for GLAD.L. At a 0.18 correlation, their price movements are largely independent. SUOP.L charges 0.17%/yr vs 0.10%/yr for GLAD.L.
Performance
SUOP.L vs. GLAD.L - Performance Comparison
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Different Trading Currencies
SUOP.L is traded in GBP, while GLAD.L is traded in USD. To make them comparable, the GLAD.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, SUOP.L achieves a -0.30% return, which is significantly lower than GLAD.L's 0.68% 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*
- —
GLAD.L
- 1D
- 0.32%
- 1M
- -1.72%
- 6M
- -0.11%
- YTD
- 0.68%
- 1Y
- 2.76%
- 3Y*
- 2.90%
- 5Y*
- 0.90%
- 10Y*
- —
SUOP.L vs. GLAD.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% |
GLAD.L SPDR Bloomberg Global Aggregate Bond UCITS ETF USD Hedged (Acc) | 0.68% | -2.76% | 5.05% | 1.40% | -0.77% | 5.83% |
Correlation
The correlation between SUOP.L and GLAD.L is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since May 21, 2021 | 0.18 |
The correlation between SUOP.L and GLAD.L shifts across timeframes, from 0.10 (1 year) to 0.21 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SUOP.L vs. GLAD.L — Risk / Return Rank
SUOP.L
GLAD.L
SUOP.L vs. GLAD.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 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.
| SUOP.L | GLAD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.39 | ||
| Sortino ratioReturn per unit of downside risk | +0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.08 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.29 | 0.47 | +0.82 |
| Martin ratioReturn relative to average drawdown | 3.48 | 1.13 | +2.35 |
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Drawdowns
SUOP.L vs. GLAD.L - Drawdown Comparison
The maximum SUOP.L drawdown since its inception was -22.17%, which is greater than GLAD.L's maximum drawdown of -16.50%. Use the drawdown chart below to compare losses from any high point for SUOP.L and GLAD.L.
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Drawdown Indicators
| SUOP.L | GLAD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.17% | -16.50% | -5.67% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -5.80% | +2.97% |
Max Drawdown (3Y)Largest decline over 3 years | -6.01% | -8.89% | +2.88% |
Max Drawdown (5Y)Largest decline over 5 years | -22.17% | -15.64% | -6.53% |
Current DrawdownCurrent decline from peak | -4.05% | -8.05% | +4.00% |
Average DrawdownAverage peak-to-trough decline | -9.80% | -9.37% | -0.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 2.43% | -1.38% |
Volatility
SUOP.L vs. GLAD.L - Volatility Comparison
The current volatility for iShares USD Corporate Bond ESG SRI UCITS ETF GBP Hedged (Dist) (SUOP.L) is 1.02%, while SPDR Bloomberg Global Aggregate Bond UCITS ETF USD Hedged (Acc) (GLAD.L) has a volatility of 1.90%. This indicates that SUOP.L experiences smaller price fluctuations and is considered to be less risky 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
| SUOP.L | GLAD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.02% | 1.90% | -0.88% |
Volatility (6M)Calculated over the trailing 6-month period | 3.40% | 5.24% | -1.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.58% | 6.60% | -2.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.88% | 8.58% | -1.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.80% | 8.81% | -2.01% |
SUOP.L vs. GLAD.L - Expense Ratio Comparison
SUOP.L has a 0.17% 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
SUOP.L vs. GLAD.L - Dividend Comparison
SUOP.L's dividend yield for the trailing twelve months is around 4.92%, while GLAD.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
GLAD.L SPDR Bloomberg Global Aggregate Bond UCITS ETF USD Hedged (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SUOP.L iShares USD Corporate Bond ESG SRI UCITS ETF GBP Hedged (Dist) | 4.92% | 4.74% | 4.68% | 4.13% | 4.04% |
Frequently Asked Questions
SUOP.L and GLAD.L have a correlation of 0.10, 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 0.17% for SUOP.L.
SUOP.L is categorized as Corporate Bonds, while GLAD.L is Global Bonds. SUOP.L tracks Bloomberg MSCI US Corporate ESG SRI Index (USD), while GLAD.L tracks Bloomberg Global Aggregate TR Hdg USD. They also come from different issuers: iShares and State Street. Their fees differ too: 0.17% for SUOP.L and 0.10% for GLAD.L.
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