SYBL.DE vs. SYBG.DE
SYBL.DE (SPDR Bloomberg 15+ Year Gilt UCITS ETF) and SYBG.DE (SPDR Bloomberg UK Gilt UCITS ETF) are both European Government Bonds funds from State Street - SYBL.DE tracks the Bloomberg UK Gilt 15+ while SYBG.DE tracks the Bloomberg UK Gilt. Both are passively managed. Over the past 10 years, SYBL.DE returned -4.19%/yr vs -1.64%/yr for SYBG.DE. Their correlation of 0.81 suggests significant overlap in exposure. Both charge a 0.15% expense ratio.
Performance
SYBL.DE vs. SYBG.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SYBL.DE achieves a 0.38% return, which is significantly lower than SYBG.DE's 1.73% return. Over the past 10 years, SYBL.DE has underperformed SYBG.DE with an annualized return of -4.19%, while SYBG.DE has yielded a comparatively higher -1.64% annualized return.
SYBL.DE
- 1D
- -0.17%
- 1M
- 3.20%
- YTD
- 0.38%
- 6M
- 0.99%
- 1Y
- 0.59%
- 3Y*
- -0.74%
- 5Y*
- -10.54%
- 10Y*
- -4.19%
SYBG.DE
- 1D
- 0.06%
- 1M
- 2.08%
- YTD
- 1.73%
- 6M
- 2.20%
- 1Y
- 1.77%
- 3Y*
- 2.55%
- 5Y*
- -4.68%
- 10Y*
- -1.64%
SYBL.DE vs. SYBG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SYBL.DE SPDR Bloomberg 15+ Year Gilt UCITS ETF | 0.38% | -0.98% | -6.82% | 3.36% | -43.17% | 0.20% | 6.08% | 17.90% | -1.00% | -0.58% |
SYBG.DE SPDR Bloomberg UK Gilt UCITS ETF | 1.73% | 0.15% | 0.07% | 5.36% | -28.98% | 2.15% | 2.00% | 11.90% | 0.08% | -1.95% |
Correlation
The correlation between SYBL.DE and SYBG.DE is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since May 17, 2012 | 0.81 |
The correlation between SYBL.DE and SYBG.DE shifts across timeframes, from 0.78 (10 years) to 0.96 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SYBL.DE vs. SYBG.DE — Risk / Return Rank
SYBL.DE
SYBG.DE
SYBL.DE vs. SYBG.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg 15+ Year Gilt UCITS ETF (SYBL.DE) and SPDR Bloomberg UK Gilt UCITS ETF (SYBG.DE). 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.
| SYBL.DE | SYBG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.04 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.06 | 0.33 | -0.27 |
| Martin ratioReturn relative to average drawdown | 0.14 | 0.77 | -0.63 |
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Drawdowns
SYBL.DE vs. SYBG.DE - Drawdown Comparison
The maximum SYBL.DE drawdown since its inception was -57.50%, which is greater than SYBG.DE's maximum drawdown of -36.66%. Use the drawdown chart below to compare losses from any high point for SYBL.DE and SYBG.DE.
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Drawdown Indicators
| SYBL.DE | SYBG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.50% | -36.66% | -20.84% |
Max Drawdown (1Y)Largest decline over 1 year | -10.34% | -5.42% | -4.92% |
Max Drawdown (3Y)Largest decline over 3 years | -17.74% | -8.78% | -8.96% |
Max Drawdown (5Y)Largest decline over 5 years | -55.48% | -36.25% | -19.23% |
Max Drawdown (10Y)Largest decline over 10 years | -57.50% | -36.66% | -20.84% |
Current DrawdownCurrent decline from peak | -51.20% | -26.43% | -24.77% |
Average DrawdownAverage peak-to-trough decline | -20.71% | -13.42% | -7.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.15% | 2.08% | +2.07% |
Volatility
SYBL.DE vs. SYBG.DE - Volatility Comparison
SPDR Bloomberg 15+ Year Gilt UCITS ETF (SYBL.DE) has a higher volatility of 3.02% compared to SPDR Bloomberg UK Gilt UCITS ETF (SYBG.DE) at 1.73%. This indicates that SYBL.DE's price experiences larger fluctuations and is considered to be riskier than SYBG.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SYBL.DE | SYBG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.02% | 1.73% | +1.29% |
Volatility (6M)Calculated over the trailing 6-month period | 10.43% | 6.10% | +4.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.52% | 8.13% | +5.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.64% | 11.76% | +8.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.57% | 13.84% | +5.73% |
SYBL.DE vs. SYBG.DE - Expense Ratio Comparison
Both SYBL.DE and SYBG.DE have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
SYBL.DE vs. SYBG.DE - Dividend Comparison
SYBL.DE's dividend yield for the trailing twelve months is around 4.94%, more than SYBG.DE's 3.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SYBG.DE SPDR Bloomberg UK Gilt UCITS ETF | 3.73% | 3.64% | 2.65% | 1.69% | 1.22% | 0.82% | 1.11% | 1.14% | 1.27% | 1.60% | 1.77% | 1.89% |
SYBL.DE SPDR Bloomberg 15+ Year Gilt UCITS ETF | 4.94% | 4.88% | 4.30% | 2.96% | 1.73% | 0.85% | 1.05% | 1.36% | 1.58% | 1.90% | 2.13% | 2.55% |
Frequently Asked Questions
With a correlation of 0.96, SYBL.DE and SYBG.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
SYBL.DE and SYBG.DE have the same expense ratio: 0.15% per year.
SYBL.DE tracks Bloomberg UK Gilt 15+, while SYBG.DE tracks Bloomberg UK Gilt.
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