FLO5.L vs. UC84.L
FLO5.L (iShares USD Floating Rate Bond UCITS ETF) and UC84.L (UBS ETF (LU) Bloomberg US Liquid Corporates UCITS ETF (USD) A-dis) are both Corporate Bonds funds tracking the Bloomberg US Corp Bond TR USD, from iShares and UBS respectively. Both are passively managed. Over the past 5 years, FLO5.L returned 1.22%/yr vs 1.22%/yr for UC84.L. A 0.66 correlation means they provide meaningful diversification when combined. FLO5.L charges 0.10%/yr vs 0.18%/yr for UC84.L.
Performance
FLO5.L vs. UC84.L - Performance Comparison
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Returns By Period
In the year-to-date period, FLO5.L achieves a -0.05% return, which is significantly lower than UC84.L's 0.32% 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*
- —
UC84.L
- 1D
- 0.23%
- 1M
- 1.54%
- YTD
- 0.32%
- 6M
- -0.15%
- 1Y
- 6.36%
- 3Y*
- 2.40%
- 5Y*
- 1.22%
- 10Y*
- 3.15%
FLO5.L vs. UC84.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% |
UC84.L UBS ETF (LU) Bloomberg US Liquid Corporates UCITS ETF (USD) A-dis | 0.32% | 0.41% | 3.96% | 2.43% | -7.77% | -0.84% | 6.02% | 13.64% | 2.44% | 1.77% |
Correlation
The correlation between FLO5.L and UC84.L is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2017 | 0.66 |
The correlation between FLO5.L and UC84.L shifts across timeframes, from 0.57 (5 years) to 0.72 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FLO5.L vs. UC84.L — Risk / Return Rank
FLO5.L
UC84.L
FLO5.L vs. UC84.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 UBS ETF (LU) Bloomberg US Liquid Corporates UCITS ETF (USD) A-dis (UC84.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 | UC84.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.87 | ||
| Sortino ratioReturn per unit of downside risk | -1.30 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.18 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.19 | 1.31 | -1.12 |
| Martin ratioReturn relative to average drawdown | 0.38 | 3.20 | -2.82 |
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 | UC84.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.17 | 1.04 | -0.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.13 | 0.13 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.30 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.02 | 0.39 | -0.37 |
Drawdowns
FLO5.L vs. UC84.L - Drawdown Comparison
The maximum FLO5.L drawdown since its inception was -20.77%, which is greater than UC84.L's maximum drawdown of -18.73%. Use the drawdown chart below to compare losses from any high point for FLO5.L and UC84.L.
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Drawdown Indicators
| FLO5.L | UC84.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.77% | -18.73% | -2.04% |
Max Drawdown (1Y)Largest decline over 1 year | -6.65% | -4.83% | -1.82% |
Max Drawdown (3Y)Largest decline over 3 years | -13.32% | -8.52% | -4.80% |
Max Drawdown (5Y)Largest decline over 5 years | -20.77% | -14.49% | -6.28% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.73% | — |
Current DrawdownCurrent decline from peak | -19.14% | -8.33% | -10.81% |
Average DrawdownAverage peak-to-trough decline | -9.77% | -8.19% | -1.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.30% | 1.98% | +1.32% |
Volatility
FLO5.L vs. UC84.L - Volatility Comparison
iShares USD Floating Rate Bond UCITS ETF (FLO5.L) has a higher volatility of 2.80% compared to UBS ETF (LU) Bloomberg US Liquid Corporates UCITS ETF (USD) A-dis (UC84.L) at 1.50%. This indicates that FLO5.L's price experiences larger fluctuations and is considered to be riskier than UC84.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 | UC84.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.80% | 1.50% | +1.30% |
Volatility (6M)Calculated over the trailing 6-month period | 5.01% | 4.47% | +0.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.27% | 6.08% | +1.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.03% | 9.08% | -0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.16% | 10.40% | -1.24% |
FLO5.L vs. UC84.L - Expense Ratio Comparison
FLO5.L has a 0.10% expense ratio, which is lower than UC84.L's 0.18% 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. UC84.L - Dividend Comparison
FLO5.L's dividend yield for the trailing twelve months is around 0.05%, less than UC84.L's 5.52% 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% |
UC84.L UBS ETF (LU) Bloomberg US Liquid Corporates UCITS ETF (USD) A-dis | 5.52% | 4.82% | 4.55% | 4.27% | 2.69% | 2.28% | 3.02% | 3.48% | 3.37% | 2.98% | 3.21% | 1.40% |
Frequently Asked Questions
FLO5.L and UC84.L have a correlation of 0.72, 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 0.18% for UC84.L.
Both ETFs track Bloomberg US Corp Bond TR USD. They also come from different issuers: iShares and UBS. Their fees differ too: 0.10% for FLO5.L and 0.18% for UC84.L.
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