DRGG.L vs. IRCP.L
DRGG.L (L&G China CNY Bond UCITS ETF USD (Dist)) and IRCP.L (iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist)) are both exchange-traded funds - DRGG.L is a Government Bonds fund tracking the J.P. Morgan China Custom Liquid ESG Capped Index, while IRCP.L is a Global Bonds fund tracking the iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist). Both are passively managed. Over the past 5 years, DRGG.L returned 2.65%/yr vs 2.50%/yr for IRCP.L. At a 0.26 correlation, their price movements are largely independent. DRGG.L charges 0.30%/yr vs 0.25%/yr for IRCP.L.
Performance
DRGG.L vs. IRCP.L - Performance Comparison
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Different Trading Currencies
DRGG.L is traded in GBp, while IRCP.L is traded in EUR. To make them comparable, the IRCP.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, DRGG.L achieves a 3.22% return, which is significantly higher than IRCP.L's -1.35% return.
DRGG.L
- 1D
- -0.64%
- 1M
- -0.78%
- 6M
- 2.97%
- YTD
- 3.22%
- 1Y
- 6.08%
- 3Y*
- 3.64%
- 5Y*
- 2.65%
- 10Y*
- —
IRCP.L
- 1D
- 0.00%
- 1M
- -1.86%
- 6M
- -0.68%
- YTD
- -1.35%
- 1Y
- 0.73%
- 3Y*
- 4.72%
- 5Y*
- 2.50%
- 10Y*
- 1.73%
DRGG.L vs. IRCP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
DRGG.L L&G China CNY Bond UCITS ETF USD (Dist) | 3.22% | -1.73% | 4.79% | -5.00% | 5.94% | 8.52% | -25.93% |
IRCP.L iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) | -1.35% | 9.79% | 1.63% | 3.04% | 2.28% | -6.16% | -0.79% |
Correlation
The correlation between DRGG.L and IRCP.L is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2020 | 0.26 |
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Return for Risk
DRGG.L vs. IRCP.L — Risk / Return Rank
DRGG.L
IRCP.L
DRGG.L vs. IRCP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G China CNY Bond UCITS ETF USD (Dist) (DRGG.L) and iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) (IRCP.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.
| DRGG.L | IRCP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.87 | ||
| Sortino ratioReturn per unit of downside risk | +1.33 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.03 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.78 | 0.32 | +1.46 |
| Martin ratioReturn relative to average drawdown | 5.39 | 0.87 | +4.52 |
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Drawdowns
DRGG.L vs. IRCP.L - Drawdown Comparison
The maximum DRGG.L drawdown since its inception was -27.90%, which is greater than IRCP.L's maximum drawdown of -19.15%. Use the drawdown chart below to compare losses from any high point for DRGG.L and IRCP.L.
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Drawdown Indicators
| DRGG.L | IRCP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.90% | -19.15% | -8.75% |
Max Drawdown (1Y)Largest decline over 1 year | -3.40% | -2.41% | -0.99% |
Max Drawdown (3Y)Largest decline over 3 years | -9.04% | -2.41% | -6.63% |
Max Drawdown (5Y)Largest decline over 5 years | -15.77% | -8.09% | -7.68% |
Max Drawdown (10Y)Largest decline over 10 years | — | -12.86% | — |
Current DrawdownCurrent decline from peak | -14.39% | -2.41% | -11.98% |
Average DrawdownAverage peak-to-trough decline | -18.79% | -5.61% | -13.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.13% | 0.87% | +0.26% |
Volatility
DRGG.L vs. IRCP.L - Volatility Comparison
L&G China CNY Bond UCITS ETF USD (Dist) (DRGG.L) has a higher volatility of 1.44% compared to iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) (IRCP.L) at 1.05%. This indicates that DRGG.L's price experiences larger fluctuations and is considered to be riskier than IRCP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRGG.L | IRCP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.44% | 1.05% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 4.47% | 3.47% | +1.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.85% | 4.62% | +1.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.33% | 6.05% | +1.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.96% | 7.09% | +5.87% |
DRGG.L vs. IRCP.L - Expense Ratio Comparison
DRGG.L has a 0.30% expense ratio, which is higher than IRCP.L's 0.25% expense ratio.
Dividends
DRGG.L vs. IRCP.L - Dividend Comparison
DRGG.L's dividend yield for the trailing twelve months is around 0.87%, less than IRCP.L's 2.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DRGG.L L&G China CNY Bond UCITS ETF USD (Dist) | 0.87% | 2.04% | 2.27% | 2.48% | 2.61% | 1.40% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IRCP.L iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) | 2.58% | 2.91% | 3.70% | 2.52% | 0.43% | 0.70% | 0.82% | 0.92% | 0.58% | 0.71% | 1.35% | 1.47% |
Frequently Asked Questions
DRGG.L and IRCP.L have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IRCP.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IRCP.L is cheaper with a 0.25% expense ratio, compared with 0.30% for DRGG.L.
DRGG.L is categorized as Government Bonds, while IRCP.L is Global Bonds. DRGG.L tracks J.P. Morgan China Custom Liquid ESG Capped Index, while IRCP.L tracks iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist). They also come from different issuers: L&G and iShares. Their fees differ too: 0.30% for DRGG.L and 0.25% for IRCP.L.
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