GILT funds yield to maturities right now
- Short gilt funds yield ~5% and long-duration funds ~6%, all ~0.6–1% above their 12-month distribution yields.
- All-stocks gilt funds yield ~5% at ~10 years, ~0.6% above distribution yields.
- The gilt curve rises from ~5% at 2 years to ~6% at 30 years, with the 10-year at ~5%.
- The 10-year gilt yield has risen from ~3% in Jan 2023 to ~5% and is forecast at ~5% in 12 months.
UK gilt fund YTMs exceed distribution yields by ~0.6–1%, ranging from ~5% for 0–5yr funds to ~6% for long duration.
UK gilt fund weighted-average YTM vs 12-month distribution yield, October 2026 (%)
Source: iShares, Vanguard fund factsheets (15-30 Sep/Oct 2026)
Raw data
| Category | Weighted-avg YTM | 12m distribution yield |
|---|---|---|
| IGLS 0-5yr (2.3y avg mat) | 4.62 | 3.98 |
| IGLT All Stocks (10.2y) | 5.13 | 4.52 |
| VGOV UK Gilt (10.9y) | 5.3 | 4.7 |
| Vanguard Long Dur. (25.6y) | 5.9 | 4.81 |
Gilt yields rise from ~5% at 2 years to ~6% at 30 years; the 10-year has risen ~0.7% to ~5%.
UK gilt yield curve: yield to maturity by maturity, now vs 12 months ago (%)
Source: Trading Economics, Investing.com, Press reports (mid-Oct 2026)
Raw data
| Maturity (years) | Mid-Oct 2026 | Mid-Oct 2025 |
|---|---|---|
| 2 | 4.88 | 3.97 |
| 5 | 4.96 | 4.12 |
| 7 | 5.21 | 4.26 |
| 10 | 5.38 | 4.67 |
| 20 | 5.9 | 5.36 |
| 30 | 5.95 | 5.49 |
The 10-year gilt yield has climbed from ~3% in Jan 2023 to ~5%, with a 12-month forecast of ~5%.
10-year gilt yield, Jan 2023-Oct 2026, with 12-month forecast (%)
Source: Bank of England, Investing.com, Trading Economics projections
Raw data
| Date | 10-year gilt yield (month-end) | 12-month market-implied forecast |
|---|---|---|
| 2023-01-31 | 3.41 | |
| 2023-02-28 | 3.78 | |
| 2023-03-31 | 3.48 | |
| 2023-04-30 | 3.68 | |
| 2023-05-31 | 4.12 | |
| 2023-06-30 | 4.29 | |
| 2023-07-31 | 4.21 | |
| 2023-08-31 | 4.29 | |
| 2023-09-30 | 4.39 | |
| 2023-10-31 | 4.51 | |
| 2023-11-30 | 4.18 | |
| 2023-12-31 | 3.58 | |
| 2024-01-31 | 3.84 | |
| 2024-02-29 | 4.07 | |
| 2024-03-31 | 3.89 | |
| 2024-04-30 | 4.32 | |
| 2024-05-31 | 4.27 | |
| 2024-06-30 | 4.15 | |
| 2024-07-31 | 3.97 | |
| 2024-08-31 | 3.97 | |
| 2024-09-30 | 3.99 | |
| 2024-10-31 | 4.41 | |
| 2024-11-30 | 4.23 | |
| 2024-12-31 | 4.57 | |
| 2025-01-31 | 4.54 | |
| 2025-02-28 | 4.48 | |
| 2025-03-31 | 4.66 | |
| 2025-04-30 | 4.45 | |
| 2025-05-31 | 4.67 | |
| 2025-06-30 | 4.51 | |
| 2025-07-31 | 4.6 | |
| 2025-08-31 | 4.77 | |
| 2025-09-30 | 4.76 | |
| 2025-10-31 | 4.48 | |
| 2025-11-30 | 4.53 | |
| 2025-12-31 | 4.57 | |
| 2026-01-31 | 4.63 | |
| 2026-02-28 | 4.35 | |
| 2026-03-31 | 4.94 | |
| 2026-04-30 | 5.06 | |
| 2026-05-31 | 4.86 | |
| 2026-06-30 | 4.83 | |
| 2026-07-31 | 5.1 | |
| 2026-08-31 | 5.14 | |
| 2026-09-30 | 5.4 | |
| 2026-10-16 | 5.38 | 5.38 |
| 2027-10-16 | 5.06 |