FLO5.L vs. LQDE.L
FLO5.L (iShares USD Floating Rate Bond UCITS ETF) and LQDE.L (iShares $ Corp Bond UCITS ETF USD Distributing) are both Corporate Bonds funds from iShares - FLO5.L tracks the Bloomberg US Corp Bond TR USD while LQDE.L tracks the Morningstar US Corporate Bond TR USD. Both are passively managed. Over the past 5 years, FLO5.L returned 1.22%/yr vs 1.08%/yr for LQDE.L. At a 0.48 correlation, their price movements are largely independent. FLO5.L charges 0.10%/yr vs 0.20%/yr for LQDE.L.
Performance
FLO5.L vs. LQDE.L - Performance Comparison
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Different Trading Currencies
FLO5.L is traded in GBp, while LQDE.L is traded in USD. To make them comparable, the LQDE.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, FLO5.L achieves a -0.05% return, which is significantly lower than LQDE.L's 0.56% return.
FLO5.L
- 1D
- 0.03%
- 1M
- -0.74%
- YTD
- -0.05%
- 6M
- -0.55%
- 1Y
- 1.25%
- 3Y*
- -2.38%
- 5Y*
- 1.22%
- 10Y*
- —
LQDE.L
- 1D
- 0.48%
- 1M
- 1.39%
- YTD
- 0.56%
- 6M
- -0.27%
- 1Y
- 6.58%
- 3Y*
- 2.38%
- 5Y*
- 1.08%
- 10Y*
- 3.32%
FLO5.L vs. LQDE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FLO5.L iShares USD Floating Rate Bond UCITS ETF | -0.05% | -6.83% | 1.88% | -4.56% | 11.92% | 1.15% | -4.18% | -2.07% | 4.95% | 0.57% |
LQDE.L iShares $ Corp Bond UCITS ETF USD Distributing | 0.56% | 0.39% | 2.83% | 3.68% | -8.03% | -1.11% | 7.72% | 13.38% | 1.76% | 2.11% |
Correlation
The correlation between FLO5.L and LQDE.L is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2017 | 0.48 |
The correlation between FLO5.L and LQDE.L shifts across timeframes, from 0.35 (3 years) to 0.48 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FLO5.L vs. LQDE.L — Risk / Return Rank
FLO5.L
LQDE.L
FLO5.L vs. LQDE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Floating Rate Bond UCITS ETF (FLO5.L) and iShares $ Corp Bond UCITS ETF USD Distributing (LQDE.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.
| FLO5.L | LQDE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.72 | ||
| Sortino ratioReturn per unit of downside risk | -1.03 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.16 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.19 | 1.21 | -1.02 |
| Martin ratioReturn relative to average drawdown | 0.38 | 2.97 | -2.59 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FLO5.L | LQDE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.17 | 0.89 | -0.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.13 | 0.11 | +0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.29 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.02 | 0.49 | -0.47 |
Drawdowns
FLO5.L vs. LQDE.L - Drawdown Comparison
The maximum FLO5.L drawdown since its inception was -20.77%, smaller than the maximum LQDE.L drawdown of -27.34%. Use the drawdown chart below to compare losses from any high point for FLO5.L and LQDE.L.
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Drawdown Indicators
| FLO5.L | LQDE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.77% | -27.34% | +6.57% |
Max Drawdown (1Y)Largest decline over 1 year | -6.65% | -5.44% | -1.21% |
Max Drawdown (3Y)Largest decline over 3 years | -13.32% | -9.22% | -4.10% |
Max Drawdown (5Y)Largest decline over 5 years | -20.77% | -15.49% | -5.28% |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.06% | — |
Current DrawdownCurrent decline from peak | -19.14% | -7.97% | -11.17% |
Average DrawdownAverage peak-to-trough decline | -9.77% | -6.86% | -2.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.30% | 2.21% | +1.09% |
Volatility
FLO5.L vs. LQDE.L - Volatility Comparison
iShares USD Floating Rate Bond UCITS ETF (FLO5.L) has a higher volatility of 2.80% compared to iShares $ Corp Bond UCITS ETF USD Distributing (LQDE.L) at 2.12%. This indicates that FLO5.L's price experiences larger fluctuations and is considered to be riskier than LQDE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLO5.L | LQDE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.80% | 2.12% | +0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 5.01% | 5.95% | -0.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.27% | 7.38% | -0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.03% | 9.96% | -0.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.16% | 11.49% | -2.33% |
FLO5.L vs. LQDE.L - Expense Ratio Comparison
FLO5.L has a 0.10% expense ratio, which is lower than LQDE.L's 0.20% 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
FLO5.L vs. LQDE.L - Dividend Comparison
FLO5.L's dividend yield for the trailing twelve months is around 0.05%, less than LQDE.L's 4.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLO5.L iShares USD Floating Rate Bond UCITS ETF | 0.05% | 0.05% | 0.06% | 0.06% | 0.01% | 0.01% | 0.02% | 0.03% | 0.02% | 0.00% | 0.00% | 0.00% |
LQDE.L iShares $ Corp Bond UCITS ETF USD Distributing | 4.95% | 4.89% | 5.02% | 4.58% | 3.74% | 2.68% | 2.77% | 3.42% | 3.69% | 3.25% | 3.40% | 3.36% |
Frequently Asked Questions
FLO5.L and LQDE.L have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FLO5.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLO5.L is cheaper with a 0.10% expense ratio, compared with 0.20% for LQDE.L.
FLO5.L tracks Bloomberg US Corp Bond TR USD, while LQDE.L tracks Morningstar US Corporate Bond TR USD. Their fees differ too: 0.10% for FLO5.L and 0.20% for LQDE.L.
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