XESE.L vs. GLTA.L
XESE.L (Xtrackers MSCI Emerging Markets ESG UCITS ETF 1C) and GLTA.L (Invesco UK Gilts UCITS ETF Acc) are both exchange-traded funds - XESE.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD, while GLTA.L is a European Government Bonds fund tracking the FTSE Act UK Cnvt Gilts All Stocks TR GBP. Both are passively managed. Over the past 5 years, XESE.L returned 3.16%/yr vs -4.51%/yr for GLTA.L. At a 0.02 correlation, their price movements are largely independent. XESE.L charges 0.25%/yr vs 0.06%/yr for GLTA.L.
Performance
XESE.L vs. GLTA.L - Performance Comparison
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Different Trading Currencies
XESE.L is traded in GBP, while GLTA.L is traded in GBp. To make them comparable, the GLTA.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, XESE.L achieves a 12.35% return, which is significantly higher than GLTA.L's 0.67% return.
XESE.L
- 1D
- -0.29%
- 1M
- 3.62%
- YTD
- 12.35%
- 6M
- 13.13%
- 1Y
- 28.43%
- 3Y*
- 15.76%
- 5Y*
- 3.16%
- 10Y*
- —
GLTA.L
- 1D
- 0.55%
- 1M
- 1.86%
- YTD
- 0.67%
- 6M
- 0.78%
- 1Y
- 2.69%
- 3Y*
- 2.89%
- 5Y*
- -4.51%
- 10Y*
- —
XESE.L vs. GLTA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
XESE.L Xtrackers MSCI Emerging Markets ESG UCITS ETF 1C | 12.35% | 22.03% | 12.08% | -1.92% | -11.39% | -8.77% | 17.22% |
GLTA.L Invesco UK Gilts UCITS ETF Acc | 0.67% | 4.99% | -4.18% | 3.52% | -25.15% | -5.17% | -1.05% |
Correlation
The correlation between XESE.L and GLTA.L is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Jun 16, 2020 | 0.02 |
Over the past year, XESE.L and GLTA.L have become more correlated (0.25) than their long-term average of 0.02, meaning their price movements have been converging.
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Return for Risk
XESE.L vs. GLTA.L — Risk / Return Rank
XESE.L
GLTA.L
XESE.L vs. GLTA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Emerging Markets ESG UCITS ETF 1C (XESE.L) and Invesco UK Gilts UCITS ETF Acc (GLTA.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.
| XESE.L | GLTA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.19 | ||
| Sortino ratioReturn per unit of downside risk | +1.58 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.08 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 2.64 | 0.47 | +2.17 |
| Martin ratioReturn relative to average drawdown | 8.09 | 1.18 | +6.91 |
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Drawdowns
XESE.L vs. GLTA.L - Drawdown Comparison
The maximum XESE.L drawdown since its inception was -37.68%, roughly equal to the maximum GLTA.L drawdown of -36.99%. Use the drawdown chart below to compare losses from any high point for XESE.L and GLTA.L.
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Drawdown Indicators
| XESE.L | GLTA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.68% | -36.99% | -0.69% |
Max Drawdown (1Y)Largest decline over 1 year | -10.71% | -5.70% | -5.01% |
Max Drawdown (3Y)Largest decline over 3 years | -16.88% | -7.70% | -9.18% |
Max Drawdown (5Y)Largest decline over 5 years | -32.20% | -34.87% | +2.67% |
Current DrawdownCurrent decline from peak | -5.07% | -27.00% | +21.93% |
Average DrawdownAverage peak-to-trough decline | -18.30% | -19.13% | +0.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.51% | 2.28% | +1.23% |
Volatility
XESE.L vs. GLTA.L - Volatility Comparison
Xtrackers MSCI Emerging Markets ESG UCITS ETF 1C (XESE.L) has a higher volatility of 8.96% compared to Invesco UK Gilts UCITS ETF Acc (GLTA.L) at 1.64%. This indicates that XESE.L's price experiences larger fluctuations and is considered to be riskier than GLTA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XESE.L | GLTA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.96% | 1.64% | +7.32% |
Volatility (6M)Calculated over the trailing 6-month period | 15.06% | 5.19% | +9.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.71% | 6.46% | +11.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.37% | 10.56% | +7.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.45% | 10.28% | +8.17% |
XESE.L vs. GLTA.L - Expense Ratio Comparison
XESE.L has a 0.25% expense ratio, which is higher than GLTA.L's 0.06% 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
XESE.L vs. GLTA.L - Dividend Comparison
Neither XESE.L nor GLTA.L has paid dividends to shareholders.
Frequently Asked Questions
XESE.L and GLTA.L have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLTA.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLTA.L is cheaper with a 0.06% expense ratio, compared with 0.25% for XESE.L.
XESE.L is categorized as Emerging Markets Equities, while GLTA.L is European Government Bonds. XESE.L tracks MSCI EM NR USD, while GLTA.L tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP. They also come from different issuers: Xtrackers and Invesco. Their fees differ too: 0.25% for XESE.L and 0.06% for GLTA.L.
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