CRPA.L vs. CRHG.L

Last updated Jun 5, 2026

CRPA.L (iShares Global Corporate Bond UCITS ETF USD (Acc)) and CRHG.L (iShares Global Corporate Bond UCITS ETF GBP Hedged (Dist)) are both Global Corporate Bonds funds from iShares - CRPA.L tracks the Bloomberg Gbl Agg Corp TR USD while CRHG.L tracks the Bloomberg Gbl Agg Corp TR Hdg GBP. Both are passively managed. Over the past 5 years, CRPA.L returned 0.07%/yr vs -0.66%/yr for CRHG.L. A 0.70 correlation means they provide meaningful diversification when combined. CRPA.L charges 0.20%/yr vs 0.25%/yr for CRHG.L.

Performance

CRPA.L vs. CRHG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Corporate Bond UCITS ETF USD (Acc) (CRPA.L) and iShares Global Corporate Bond UCITS ETF GBP Hedged (Dist) (CRHG.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CRPA.L is traded in USD, while CRHG.L is traded in GBP. To make them comparable, the CRHG.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, CRPA.L achieves a 0.14% return, which is significantly lower than CRHG.L's 0.48% return.

CRPA.L

• 1D: 0.27%
• 1M: 0.30%
• YTD: 0.14%
• 6M: 0.52%
• 1Y: 4.68%
• 3Y*: 5.87%
• 5Y*: 0.07%
• 10Y*: —

CRHG.L

• 1D: 0.24%
• 1M: -0.09%
• YTD: 0.48%
• 6M: 1.64%
• 1Y: 3.78%
• 3Y*: 8.03%
• 5Y*: -0.66%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CRPA.L vs. CRHG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
CRPA.L iShares Global Corporate Bond UCITS ETF USD (Acc)	0.14%	9.97%	1.12%	9.38%	-16.34%	-3.65%	10.07%	11.53%	-0.89%
CRHG.L iShares Global Corporate Bond UCITS ETF GBP Hedged (Dist)	0.48%	13.82%	2.11%	13.35%	-24.12%	-2.34%	9.31%	15.33%	-6.37%

Correlation

The correlation between CRPA.L and CRHG.L is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since May 15, 2018	0.70

The correlation between CRPA.L and CRHG.L has been stable across timeframes, ranging from 0.70 to 0.75 - a consistent structural relationship.

Return for Risk

CRPA.L vs. CRHG.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CRPA.L

CRPA.L Risk / Return Rank: 26
CRPA.L Sharpe Ratio Rank: 26
CRPA.L Sortino Ratio Rank: 25
CRPA.L Omega Ratio Rank: 24
CRPA.L Calmar Ratio Rank: 27
CRPA.L Martin Ratio Rank: 29

CRHG.L

CRHG.L Risk / Return Rank: 34
CRHG.L Sharpe Ratio Rank: 33
CRHG.L Sortino Ratio Rank: 34
CRHG.L Omega Ratio Rank: 31
CRHG.L Calmar Ratio Rank: 36
CRHG.L Martin Ratio Rank: 38

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CRPA.L vs. CRHG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Corporate Bond UCITS ETF USD (Acc) (CRPA.L) and iShares Global Corporate Bond UCITS ETF GBP Hedged (Dist) (CRHG.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.

	CRPA.L	CRHG.L	Difference
Sharpe ratio: Return per unit of total volatility	0.92	0.44	+0.48
Sortino ratio: Return per unit of downside risk	1.34	0.69	+0.64
Omega ratio: Gain probability vs. loss probability	1.16	1.08	+0.08
Calmar ratio: Return relative to maximum drawdown	1.28	0.64	+0.64
Martin ratio: Return relative to average drawdown	4.01	1.56	+2.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CRPA.L vs. CRHG.L - Sharpe Ratio Comparison

The current CRPA.L Sharpe Ratio is 0.92, which is higher than the CRHG.L Sharpe Ratio of 0.44. The chart below compares the historical Sharpe Ratios of CRPA.L and CRHG.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CRPA.L	CRHG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.92	0.44	+0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.01	-0.06	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.10	+0.22

Drawdowns

CRPA.L vs. CRHG.L - Drawdown Comparison

The maximum CRPA.L drawdown since its inception was -25.34%, smaller than the maximum CRHG.L drawdown of -37.73%. Use the drawdown chart below to compare losses from any high point for CRPA.L and CRHG.L.

Drawdown Indicators

	CRPA.L	CRHG.L	Difference
Max Drawdown Largest peak-to-trough decline	-25.34%	-37.73%	+12.39%
Max Drawdown (1Y) Largest decline over 1 year	-3.64%	-5.87%	+2.23%
Max Drawdown (3Y) Largest decline over 3 years	-6.08%	-11.80%	+5.72%
Max Drawdown (5Y) Largest decline over 5 years	-24.86%	-37.73%	+12.87%
Current Drawdown Current decline from peak	-1.82%	-3.94%	+2.12%
Average Drawdown Average peak-to-trough decline	-7.04%	-11.25%	+4.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.16%	2.41%	-1.25%

Volatility

CRPA.L vs. CRHG.L - Volatility Comparison

The current volatility for iShares Global Corporate Bond UCITS ETF USD (Acc) (CRPA.L) is 1.91%, while iShares Global Corporate Bond UCITS ETF GBP Hedged (Dist) (CRHG.L) has a volatility of 2.69%. This indicates that CRPA.L experiences smaller price fluctuations and is considered to be less risky than CRHG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CRPA.L	CRHG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.91%	2.69%	-0.78%
Volatility (6M) Calculated over the trailing 6-month period	3.93%	6.20%	-2.27%
Volatility (1Y) Calculated over the trailing 1-year period	5.12%	8.63%	-3.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.77%	11.56%	-4.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.78%	11.59%	-4.81%

CRPA.L vs. CRHG.L - Expense Ratio Comparison

CRPA.L has a 0.20% expense ratio, which is lower than CRHG.L's 0.25% 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

CRPA.L vs. CRHG.L - Dividend Comparison

CRPA.L has not paid dividends to shareholders, while CRHG.L's dividend yield for the trailing twelve months is around 4.09%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CRHG.L iShares Global Corporate Bond UCITS ETF GBP Hedged (Dist)	4.09%	4.01%	3.76%	3.18%	2.70%	2.02%	2.27%	2.66%	1.27%
CRPA.L iShares Global Corporate Bond UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CRPA.L and CRHG.L in my portfolio?

CRPA.L and CRHG.L have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CRPA.L or CRHG.L?

On fees, CRPA.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CRPA.L or CRHG.L?

CRPA.L is cheaper with a 0.20% expense ratio, compared with 0.25% for CRHG.L.

What is the main difference between CRPA.L and CRHG.L?

CRPA.L tracks Bloomberg Gbl Agg Corp TR USD, while CRHG.L tracks Bloomberg Gbl Agg Corp TR Hdg GBP. Their fees differ too: 0.20% for CRPA.L and 0.25% for CRHG.L.