FLOS.L vs. CBS5.L
FLOS.L (iShares $ Floating Rate Bond UCITS ETF GBP Hedged (Dist)) and CBS5.L (UBS ETF (LU) Bloomberg MSCI US Liquid Corporates 1-5 Year Sustainable UCITS ETF (USD) A-acc) are both exchange-traded funds - FLOS.L is a Ultra Short-Term Bonds fund tracking the Bloomberg US Floating Rate Note <5 Years Index, while CBS5.L is a Corporate Bonds fund tracking the Bloomberg US Corp Bond TR USD. Both are passively managed. Over the past 3 years, FLOS.L returned 5.40%/yr vs 4.18%/yr for CBS5.L. At a correlation of -0.03, they often move in opposite directions. FLOS.L charges 0.12%/yr vs 0.20%/yr for CBS5.L.
Performance
FLOS.L vs. CBS5.L - Performance Comparison
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Returns By Period
In the year-to-date period, FLOS.L achieves a 2.34% return, which is significantly higher than CBS5.L's 0.23% return.
FLOS.L
- 1D
- -0.06%
- 1M
- 0.33%
- 6M
- 2.02%
- YTD
- 2.34%
- 1Y
- 4.51%
- 3Y*
- 5.40%
- 5Y*
- 4.00%
- 10Y*
- —
CBS5.L
- 1D
- 0.04%
- 1M
- -0.74%
- 6M
- -0.15%
- YTD
- 0.23%
- 1Y
- 2.97%
- 3Y*
- 4.18%
- 5Y*
- —
- 10Y*
- —
FLOS.L vs. CBS5.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FLOS.L iShares $ Floating Rate Bond UCITS ETF GBP Hedged (Dist) | 2.34% | 4.78% | 6.24% | 6.00% | 1.07% |
CBS5.L UBS ETF (LU) Bloomberg MSCI US Liquid Corporates 1-5 Year Sustainable UCITS ETF (USD) A-acc | 0.23% | -0.23% | 6.03% | 0.27% | -17.89% |
Correlation
The correlation between FLOS.L and CBS5.L is -0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Apr 25, 2022 | -0.03 |
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Return for Risk
FLOS.L vs. CBS5.L — Risk / Return Rank
FLOS.L
CBS5.L
FLOS.L vs. CBS5.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ Floating Rate Bond UCITS ETF GBP Hedged (Dist) (FLOS.L) and UBS ETF (LU) Bloomberg MSCI US Liquid Corporates 1-5 Year Sustainable UCITS ETF (USD) A-acc (CBS5.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.
| FLOS.L | CBS5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.58 | ||
| Sortino ratioReturn per unit of downside risk | +6.51 | ||
| Omega ratioGain probability vs. loss probability | 1.98 | 1.11 | +0.87 |
| Calmar ratioReturn relative to maximum drawdown | 15.59 | 0.80 | +14.79 |
| Martin ratioReturn relative to average drawdown | 78.69 | 2.01 | +76.68 |
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Drawdowns
FLOS.L vs. CBS5.L - Drawdown Comparison
The maximum FLOS.L drawdown since its inception was -14.78%, smaller than the maximum CBS5.L drawdown of -23.09%. Use the drawdown chart below to compare losses from any high point for FLOS.L and CBS5.L.
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Drawdown Indicators
| FLOS.L | CBS5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.78% | -23.09% | +8.31% |
Max Drawdown (1Y)Largest decline over 1 year | -0.29% | -4.35% | +4.06% |
Max Drawdown (3Y)Largest decline over 3 years | -1.46% | -8.03% | +6.57% |
Max Drawdown (5Y)Largest decline over 5 years | -2.13% | — | — |
Current DrawdownCurrent decline from peak | -0.11% | -12.95% | +12.84% |
Average DrawdownAverage peak-to-trough decline | -0.25% | -16.14% | +15.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.06% | 1.74% | -1.68% |
Volatility
FLOS.L vs. CBS5.L - Volatility Comparison
The current volatility for iShares $ Floating Rate Bond UCITS ETF GBP Hedged (Dist) (FLOS.L) is 0.23%, while UBS ETF (LU) Bloomberg MSCI US Liquid Corporates 1-5 Year Sustainable UCITS ETF (USD) A-acc (CBS5.L) has a volatility of 1.68%. This indicates that FLOS.L experiences smaller price fluctuations and is considered to be less risky than CBS5.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLOS.L | CBS5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.23% | 1.68% | -1.45% |
Volatility (6M)Calculated over the trailing 6-month period | 0.81% | 4.27% | -3.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.08% | 5.78% | -4.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.68% | 12.42% | -10.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.36% | 12.42% | -9.06% |
FLOS.L vs. CBS5.L - Expense Ratio Comparison
FLOS.L has a 0.12% expense ratio, which is lower than CBS5.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
FLOS.L vs. CBS5.L - Dividend Comparison
FLOS.L's dividend yield for the trailing twelve months is around 4.68%, while CBS5.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CBS5.L UBS ETF (LU) Bloomberg MSCI US Liquid Corporates 1-5 Year Sustainable UCITS ETF (USD) A-acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FLOS.L iShares $ Floating Rate Bond UCITS ETF GBP Hedged (Dist) | 4.68% | 5.02% | 5.93% | 5.46% | 1.50% | 0.57% | 1.62% | 2.95% | 2.27% |
Frequently Asked Questions
FLOS.L and CBS5.L have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FLOS.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLOS.L is cheaper with a 0.12% expense ratio, compared with 0.20% for CBS5.L.
FLOS.L is categorized as Ultra Short-Term Bonds, while CBS5.L is Corporate Bonds. FLOS.L tracks Bloomberg US Floating Rate Note <5 Years Index, while CBS5.L tracks Bloomberg US Corp Bond TR USD. They also come from different issuers: iShares and UBS. Their fees differ too: 0.12% for FLOS.L and 0.20% for CBS5.L.
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