UKG5.L vs. IB01.L
UKG5.L (L&G UK Gilt 0-5 Year UCITS ETF) and IB01.L (iShares USD Treasury Bond 0-1yr UCITS ETF (Acc)) are both exchange-traded funds - UKG5.L is a European Government Bonds fund tracking the FTSE Act UK Cnvt Gilts All Stocks TR GBP, while IB01.L is a Government Bonds fund tracking the ICE U.S. Treasury Short Bond Index. Both are passively managed. Over the past 5 years, UKG5.L returned 0.89%/yr vs 3.64%/yr for IB01.L. At a correlation of -0.08, they often move in opposite directions. UKG5.L charges 0.06%/yr vs 0.07%/yr for IB01.L.
Performance
UKG5.L vs. IB01.L - Performance Comparison
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Different Trading Currencies
UKG5.L is traded in GBp, while IB01.L is traded in USD. To make them comparable, the IB01.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, UKG5.L achieves a -0.95% return, which is significantly lower than IB01.L's 1.42% return.
UKG5.L
- 1D
- 0.05%
- 1M
- -0.02%
- 6M
- -1.42%
- YTD
- -0.95%
- 1Y
- 0.89%
- 3Y*
- 3.88%
- 5Y*
- 0.89%
- 10Y*
- —
IB01.L
- 1D
- -1.04%
- 1M
- -0.61%
- 6M
- 1.15%
- YTD
- 1.42%
- 1Y
- 2.79%
- 3Y*
- 3.52%
- 5Y*
- 3.64%
- 10Y*
- —
UKG5.L vs. IB01.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
UKG5.L L&G UK Gilt 0-5 Year UCITS ETF | -0.95% | 5.06% | 2.37% | 3.91% | -4.71% | -1.66% | 0.23% |
IB01.L iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) | 1.42% | -3.10% | 7.09% | -0.32% | 13.10% | 0.08% | -1.57% |
Correlation
The correlation between UKG5.L and IB01.L is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2020 | -0.08 |
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Return for Risk
UKG5.L vs. IB01.L — Risk / Return Rank
UKG5.L
IB01.L
UKG5.L vs. IB01.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G UK Gilt 0-5 Year UCITS ETF (UKG5.L) and iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.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.
| UKG5.L | IB01.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.08 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.29 | 0.54 | -0.25 |
| Martin ratioReturn relative to average drawdown | 0.63 | 1.47 | -0.84 |
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Drawdowns
UKG5.L vs. IB01.L - Drawdown Comparison
The maximum UKG5.L drawdown since its inception was -9.62%, smaller than the maximum IB01.L drawdown of -19.26%. Use the drawdown chart below to compare losses from any high point for UKG5.L and IB01.L.
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Drawdown Indicators
| UKG5.L | IB01.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.62% | -19.26% | +9.64% |
Max Drawdown (1Y)Largest decline over 1 year | -3.09% | -5.16% | +2.07% |
Max Drawdown (3Y)Largest decline over 3 years | -3.09% | -9.81% | +6.72% |
Max Drawdown (5Y)Largest decline over 5 years | -9.11% | -15.94% | +6.83% |
Current DrawdownCurrent decline from peak | -1.42% | -6.45% | +5.03% |
Average DrawdownAverage peak-to-trough decline | -2.55% | -9.40% | +6.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.41% | 1.89% | -0.48% |
Volatility
UKG5.L vs. IB01.L - Volatility Comparison
The current volatility for L&G UK Gilt 0-5 Year UCITS ETF (UKG5.L) is 0.57%, while iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.L) has a volatility of 2.02%. This indicates that UKG5.L experiences smaller price fluctuations and is considered to be less risky than IB01.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UKG5.L | IB01.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.57% | 2.02% | -1.45% |
Volatility (6M)Calculated over the trailing 6-month period | 2.66% | 5.06% | -2.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.77% | 6.58% | -3.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.67% | 8.46% | -5.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.54% | 8.77% | -6.23% |
UKG5.L vs. IB01.L - Expense Ratio Comparison
UKG5.L has a 0.06% expense ratio, which is lower than IB01.L's 0.07% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
UKG5.L vs. IB01.L - Dividend Comparison
UKG5.L's dividend yield for the trailing twelve months is around 1.98%, while IB01.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
IB01.L iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UKG5.L L&G UK Gilt 0-5 Year UCITS ETF | 1.98% | 3.94% | 3.66% | 2.02% | 0.04% |
Frequently Asked Questions
UKG5.L and IB01.L have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UKG5.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UKG5.L is cheaper with a 0.06% expense ratio, compared with 0.07% for IB01.L.
UKG5.L is categorized as European Government Bonds, while IB01.L is Government Bonds. UKG5.L tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP, while IB01.L tracks ICE U.S. Treasury Short Bond Index. They also come from different issuers: Legal & General and iShares. Their fees differ too: 0.06% for UKG5.L and 0.07% for IB01.L.
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