FVUG.L vs. LQDH.L

Last updated Jul 16, 2026

FVUG.L (Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc)) and LQDH.L (iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist)) are both Global Bonds funds - FVUG.L tracks the Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc) while LQDH.L tracks the iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist). Both are passively managed. Over the past 5 years, FVUG.L returned -2.41%/yr vs 5.74%/yr for LQDH.L. At a 0.17 correlation, their price movements are largely independent. Both charge a 0.25% expense ratio.

Performance

FVUG.L vs. LQDH.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc) (FVUG.L) and iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) (LQDH.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, FVUG.L achieves a -2.28% return, which is significantly lower than LQDH.L's 2.08% return.

FVUG.L

• 1D: -0.71%
• 1M: -2.23%
• 6M: -2.05%
• YTD: -2.28%
• 1Y: -0.85%
• 3Y*: 2.92%
• 5Y*: -2.41%
• 10Y*: —

LQDH.L

• 1D: 0.00%
• 1M: -1.03%
• 6M: 1.27%
• YTD: 2.08%
• 1Y: 3.85%
• 3Y*: 6.24%
• 5Y*: 5.74%
• 10Y*: 4.18%

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

FVUG.L vs. LQDH.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FVUG.L Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc)	-2.28%	5.85%	-1.90%	5.64%	-14.50%	-9.35%	11.32%	-12.00%
LQDH.L iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist)	2.08%	-2.55%	10.16%	5.96%	12.21%	1.87%	-2.19%	2.03%

Correlation

The correlation between FVUG.L and LQDH.L is 0.07, 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	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (All Time) Calculated using the full available price history since Apr 29, 2019	0.17

The correlation between FVUG.L and LQDH.L shifts across timeframes, from 0.06 (3 years) to 0.17 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FVUG.L vs. LQDH.L — Risk / Return Rank

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

FVUG.L

FVUG.L Risk / Return Rank: 7
FVUG.L Sharpe Ratio Rank: 8
FVUG.L Sortino Ratio Rank: 7
FVUG.L Omega Ratio Rank: 7
FVUG.L Calmar Ratio Rank: 8
FVUG.L Martin Ratio Rank: 7

LQDH.L

LQDH.L Risk / Return Rank: 62
LQDH.L Sharpe Ratio Rank: 51
LQDH.L Sortino Ratio Rank: 56
LQDH.L Omega Ratio Rank: 46
LQDH.L Calmar Ratio Rank: 79
LQDH.L Martin Ratio Rank: 76

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.

FVUG.L vs. LQDH.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc) (FVUG.L) and iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) (LQDH.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.

	FVUG.L	LQDH.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.17	0.56	-0.74
Sortino ratio: Return per unit of downside risk	-0.21	0.85	-1.05
Omega ratio: Gain probability vs. loss probability	0.98	1.10	-0.12
Calmar ratio: Return relative to maximum drawdown	-0.20	0.97	-1.17
Martin ratio: Return relative to average drawdown	-0.45	2.61	-3.06

FVUG.L vs. LQDH.L - Sharpe Ratio Comparison

The current FVUG.L Sharpe Ratio is -0.17, which is lower than the LQDH.L Sharpe Ratio of 0.56. The chart below compares the historical Sharpe Ratios of FVUG.L and LQDH.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.

Drawdowns

FVUG.L vs. LQDH.L - Drawdown Comparison

The maximum FVUG.L drawdown since its inception was -27.48%, which is greater than LQDH.L's maximum drawdown of -17.83%. Use the drawdown chart below to compare losses from any high point for FVUG.L and LQDH.L.

Drawdown Indicators

	FVUG.L	LQDH.L	Difference
Max Drawdown Largest peak-to-trough decline	-27.48%	-17.83%	-9.65%
Max Drawdown (1Y) Largest decline over 1 year	-4.35%	-4.07%	-0.28%
Max Drawdown (3Y) Largest decline over 3 years	-5.06%	-9.62%	+4.56%
Max Drawdown (5Y) Largest decline over 5 years	-22.03%	-10.90%	-11.13%
Max Drawdown (10Y) Largest decline over 10 years	—	-17.83%	—
Current Drawdown Current decline from peak	-18.75%	-3.01%	-15.74%
Average Drawdown Average peak-to-trough decline	-15.96%	-4.31%	-11.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	1.52%	+0.36%

Volatility

FVUG.L vs. LQDH.L - Volatility Comparison

The current volatility for Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc) (FVUG.L) is 1.38%, while iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) (LQDH.L) has a volatility of 1.74%. This indicates that FVUG.L experiences smaller price fluctuations and is considered to be less risky than LQDH.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FVUG.L	LQDH.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.38%	1.74%	-0.36%
Volatility (6M) Calculated over the trailing 6-month period	3.87%	5.35%	-1.48%
Volatility (1Y) Calculated over the trailing 1-year period	4.96%	6.99%	-2.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.81%	8.95%	-2.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.04%	9.87%	-0.83%

FVUG.L vs. LQDH.L - Expense Ratio Comparison

Both FVUG.L and LQDH.L have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

FVUG.L vs. LQDH.L - Dividend Comparison

FVUG.L has not paid dividends to shareholders, while LQDH.L's dividend yield for the trailing twelve months is around 4.34%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FVUG.L Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
LQDH.L iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist)	4.34%	4.66%	5.52%	4.83%	2.07%	1.55%	2.45%	3.52%	2.87%	2.14%	2.46%	3.25%

Frequently Asked Questions

Can I hold both FVUG.L and LQDH.L in my portfolio?

FVUG.L and LQDH.L have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FVUG.L or LQDH.L?

Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FVUG.L or LQDH.L?

FVUG.L and LQDH.L have the same expense ratio: 0.25% per year.

What is the main difference between FVUG.L and LQDH.L?

FVUG.L tracks Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc), while LQDH.L tracks iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist). They also come from different issuers: Franklin and iShares.