CRHG.L vs. PUIP.L
CRHG.L (iShares Global Corporate Bond UCITS ETF GBP Hedged (Dist)) and PUIP.L (Invesco USD IG Corporate Bond ESG Climate Transition UCITS ETF GBP Hedged (Dist)) are both exchange-traded funds - CRHG.L is a Global Corporate Bonds fund tracking the Bloomberg Gbl Agg Corp TR Hdg GBP, while PUIP.L is a Sustainable Bonds fund tracking the Bloomberg MSCI USD Liquid Corporate Climate Transition ESG Bond Index (CTB) (USD). Both are passively managed. Over the past 5 years, CRHG.L returned 0.05%/yr vs -0.67%/yr for PUIP.L. Their correlation of 0.87 suggests significant overlap in exposure. CRHG.L charges 0.25%/yr vs 0.12%/yr for PUIP.L.
Performance
CRHG.L vs. PUIP.L - Performance Comparison
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Different Trading Currencies
CRHG.L is traded in GBP, while PUIP.L is traded in GBp. To make them comparable, the PUIP.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, CRHG.L achieves a 0.56% return, which is significantly higher than PUIP.L's -0.60% return.
CRHG.L
- 1D
- 0.00%
- 1M
- -0.65%
- 6M
- 0.34%
- YTD
- 0.56%
- 1Y
- 3.68%
- 3Y*
- 4.98%
- 5Y*
- 0.05%
- 10Y*
- —
PUIP.L
- 1D
- 0.01%
- 1M
- -0.99%
- 6M
- -0.46%
- YTD
- -0.60%
- 1Y
- 3.58%
- 3Y*
- 4.25%
- 5Y*
- -0.67%
- 10Y*
- —
CRHG.L vs. PUIP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CRHG.L iShares Global Corporate Bond UCITS ETF GBP Hedged (Dist) | 0.56% | 5.74% | 3.83% | 7.85% | -15.07% | -1.52% | 6.05% | 0.57% |
PUIP.L Invesco USD IG Corporate Bond ESG Climate Transition UCITS ETF GBP Hedged (Dist) | -0.60% | 7.40% | 1.97% | 6.75% | -16.40% | -1.56% | 7.62% | 0.89% |
Correlation
The correlation between CRHG.L and PUIP.L is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2019 | 0.87 |
The correlation between CRHG.L and PUIP.L has been stable across timeframes, ranging from 0.86 to 0.88 - a consistent structural relationship.
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Return for Risk
CRHG.L vs. PUIP.L — Risk / Return Rank
CRHG.L
PUIP.L
CRHG.L vs. PUIP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Corporate Bond UCITS ETF GBP Hedged (Dist) (CRHG.L) and Invesco USD IG Corporate Bond ESG Climate Transition UCITS ETF GBP Hedged (Dist) (PUIP.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.
| CRHG.L | PUIP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.14 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.37 | 1.27 | +0.10 |
| Martin ratioReturn relative to average drawdown | 4.26 | 3.81 | +0.45 |
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Drawdowns
CRHG.L vs. PUIP.L - Drawdown Comparison
The maximum CRHG.L drawdown since its inception was -20.58%, smaller than the maximum PUIP.L drawdown of -22.48%. Use the drawdown chart below to compare losses from any high point for CRHG.L and PUIP.L.
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Drawdown Indicators
| CRHG.L | PUIP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.58% | -22.48% | +1.90% |
Max Drawdown (1Y)Largest decline over 1 year | -2.67% | -2.98% | +0.31% |
Max Drawdown (3Y)Largest decline over 3 years | -4.36% | -5.86% | +1.50% |
Max Drawdown (5Y)Largest decline over 5 years | -20.58% | -22.43% | +1.85% |
Current DrawdownCurrent decline from peak | -0.94% | -4.38% | +3.44% |
Average DrawdownAverage peak-to-trough decline | -5.47% | -8.30% | +2.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 1.00% | -0.14% |
Volatility
CRHG.L vs. PUIP.L - Volatility Comparison
The current volatility for iShares Global Corporate Bond UCITS ETF GBP Hedged (Dist) (CRHG.L) is 0.96%, while Invesco USD IG Corporate Bond ESG Climate Transition UCITS ETF GBP Hedged (Dist) (PUIP.L) has a volatility of 1.09%. This indicates that CRHG.L experiences smaller price fluctuations and is considered to be less risky than PUIP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CRHG.L | PUIP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 1.09% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 3.41% | 3.58% | -0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.23% | 4.63% | -0.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.83% | 7.08% | -1.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.88% | 7.99% | -2.11% |
CRHG.L vs. PUIP.L - Expense Ratio Comparison
CRHG.L has a 0.25% expense ratio, which is higher than PUIP.L's 0.12% 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
CRHG.L vs. PUIP.L - Dividend Comparison
CRHG.L's dividend yield for the trailing twelve months is around 4.10%, less than PUIP.L's 4.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CRHG.L iShares Global Corporate Bond UCITS ETF GBP Hedged (Dist) | 4.10% | 4.01% | 3.76% | 3.18% | 2.70% | 2.02% | 2.27% | 2.66% | 1.27% |
PUIP.L Invesco USD IG Corporate Bond ESG Climate Transition UCITS ETF GBP Hedged (Dist) | 4.99% | 4.72% | 4.73% | 4.00% | 2.99% | 2.31% | 2.85% | 0.00% | 0.00% |
Frequently Asked Questions
CRHG.L and PUIP.L have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PUIP.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PUIP.L is cheaper with a 0.12% expense ratio, compared with 0.25% for CRHG.L.
CRHG.L is categorized as Global Corporate Bonds, while PUIP.L is Sustainable Bonds. CRHG.L tracks Bloomberg Gbl Agg Corp TR Hdg GBP, while PUIP.L tracks Bloomberg MSCI USD Liquid Corporate Climate Transition ESG Bond Index (CTB) (USD). They also come from different issuers: iShares and Invesco. Their fees differ too: 0.25% for CRHG.L and 0.12% for PUIP.L.
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