0FLE.L vs. USDC.L
0FLE.L (iShares $ Floating Rate Bond UCITS ETF EUR Hedged (Dist)) and USDC.L (L&G USD Corporate Bond Screened UCITS ETF USD (Dist)) are both exchange-traded funds - 0FLE.L is a Ultrashort Bond fund tracking the Bloomberg US Floating Rate Note<5 Years Index, while USDC.L is a Corporate Bonds fund tracking the J.P. Morgan Global Credit Index ESG Investment Grade USD Custom Maturity Index. Both are passively managed. Over the past 5 years, 0FLE.L returned 2.58%/yr vs 0.74%/yr for USDC.L. At a 0.03 correlation, their price movements are largely independent. 0FLE.L charges 0.12%/yr vs 0.09%/yr for USDC.L.
Performance
0FLE.L vs. USDC.L - Performance Comparison
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Different Trading Currencies
0FLE.L is traded in EUR, while USDC.L is traded in USD. To make them comparable, the USDC.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, 0FLE.L achieves a 2.14% return, which is significantly higher than USDC.L's 0.40% return.
0FLE.L
- 1D
- 0.47%
- 1M
- 0.94%
- 6M
- 2.14%
- YTD
- 2.14%
- 1Y
- 3.33%
- 3Y*
- 3.92%
- 5Y*
- 2.58%
- 10Y*
- —
USDC.L
- 1D
- 0.11%
- 1M
- 0.80%
- 6M
- 1.64%
- YTD
- 0.40%
- 1Y
- 3.94%
- 3Y*
- 3.75%
- 5Y*
- 0.74%
- 10Y*
- —
0FLE.L vs. USDC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
0FLE.L iShares $ Floating Rate Bond UCITS ETF EUR Hedged (Dist) | 2.14% | 2.69% | 4.89% | 4.20% | -0.49% | -0.51% |
USDC.L L&G USD Corporate Bond Screened UCITS ETF USD (Dist) | 0.40% | -5.32% | 9.94% | 5.10% | -8.57% | 5.76% |
Correlation
The correlation between 0FLE.L and USDC.L is 0.02, 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 | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Jan 15, 2021 | 0.03 |
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Return for Risk
0FLE.L vs. USDC.L — Risk / Return Rank
0FLE.L
USDC.L
0FLE.L vs. USDC.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ Floating Rate Bond UCITS ETF EUR Hedged (Dist) (0FLE.L) and L&G USD Corporate Bond Screened UCITS ETF USD (Dist) (USDC.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.
| 0FLE.L | USDC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.69 | ||
| Sortino ratioReturn per unit of downside risk | +1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.10 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 4.72 | 0.63 | +4.09 |
| Martin ratioReturn relative to average drawdown | 13.03 | 1.66 | +11.36 |
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Drawdowns
0FLE.L vs. USDC.L - Drawdown Comparison
The maximum 0FLE.L drawdown since its inception was -3.91%, smaller than the maximum USDC.L drawdown of -11.39%. Use the drawdown chart below to compare losses from any high point for 0FLE.L and USDC.L.
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Drawdown Indicators
| 0FLE.L | USDC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.91% | -11.39% | +7.48% |
Max Drawdown (1Y)Largest decline over 1 year | -0.71% | -6.22% | +5.51% |
Max Drawdown (3Y)Largest decline over 3 years | -2.86% | -11.39% | +8.53% |
Max Drawdown (5Y)Largest decline over 5 years | -2.86% | -11.39% | +8.53% |
Current DrawdownCurrent decline from peak | -0.00% | -6.69% | +6.69% |
Average DrawdownAverage peak-to-trough decline | -1.25% | -5.13% | +3.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.26% | 2.37% | -2.11% |
Volatility
0FLE.L vs. USDC.L - Volatility Comparison
iShares $ Floating Rate Bond UCITS ETF EUR Hedged (Dist) (0FLE.L) and L&G USD Corporate Bond Screened UCITS ETF USD (Dist) (USDC.L) have volatilities of 1.55% and 1.58%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 0FLE.L | USDC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.55% | 1.58% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.12% | 5.28% | -3.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.74% | 7.48% | -4.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.74% | 8.47% | -4.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.07% | 8.38% | -5.31% |
0FLE.L vs. USDC.L - Expense Ratio Comparison
0FLE.L has a 0.12% expense ratio, which is higher than USDC.L's 0.09% 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
0FLE.L vs. USDC.L - Dividend Comparison
0FLE.L's dividend yield for the trailing twelve months is around 4.69%, less than USDC.L's 4.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
0FLE.L iShares $ Floating Rate Bond UCITS ETF EUR Hedged (Dist) | 4.69% | 5.04% | 6.01% | 5.52% | 1.49% | 0.58% | 1.60% | 2.96% | 2.07% | 0.36% |
USDC.L L&G USD Corporate Bond Screened UCITS ETF USD (Dist) | 4.82% | 4.47% | 4.08% | 3.24% | 2.36% | 0.78% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
0FLE.L and USDC.L have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, USDC.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
USDC.L is cheaper with a 0.09% expense ratio, compared with 0.12% for 0FLE.L.
0FLE.L is categorized as Ultrashort Bond, while USDC.L is Corporate Bonds. 0FLE.L tracks Bloomberg US Floating Rate Note<5 Years Index, while USDC.L tracks J.P. Morgan Global Credit Index ESG Investment Grade USD Custom Maturity Index. They also come from different issuers: iShares and L&G. Their fees differ too: 0.12% for 0FLE.L and 0.09% for USDC.L.
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