HLQD.L vs. ISAC.L
HLQD.L (iShares $ Corp Bond Interest Rate Hedged UCITS ETF) and ISAC.L (iShares MSCI ACWI UCITS ETF USD (Acc)) are both exchange-traded funds - HLQD.L is a Global Bonds fund tracking the iShares $ Corp Bond Interest Rate Hedged UCITS ETF, while ISAC.L is a Global Equities fund tracking the MSCI All Country World Index (Net). Both are passively managed. Over the past 5 years, HLQD.L returned 5.42%/yr vs 11.12%/yr for ISAC.L. A 0.55 correlation means they provide meaningful diversification when combined. HLQD.L charges 0.25%/yr vs 0.20%/yr for ISAC.L.
Performance
HLQD.L vs. ISAC.L - Performance Comparison
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Returns By Period
In the year-to-date period, HLQD.L achieves a 2.31% return, which is significantly lower than ISAC.L's 11.18% return.
HLQD.L
- 1D
- 0.21%
- 1M
- -0.07%
- 6M
- 2.17%
- YTD
- 2.31%
- 1Y
- 5.11%
- 3Y*
- 7.50%
- 5Y*
- 5.42%
- 10Y*
- —
ISAC.L
- 1D
- 0.12%
- 1M
- -0.60%
- 6M
- 9.67%
- YTD
- 11.18%
- 1Y
- 23.73%
- 3Y*
- 19.02%
- 5Y*
- 11.12%
- 10Y*
- 12.44%
HLQD.L vs. ISAC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
HLQD.L iShares $ Corp Bond Interest Rate Hedged UCITS ETF | 2.31% | 5.47% | 8.15% | 11.14% | 0.41% | 1.25% | 0.54% | 10.77% | -0.71% |
ISAC.L iShares MSCI ACWI UCITS ETF USD (Acc) | 11.18% | 22.36% | 17.81% | 22.57% | -18.16% | 18.85% | 15.66% | 25.75% | -7.94% |
Correlation
The correlation between HLQD.L and ISAC.L is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2018 | 0.55 |
The correlation between HLQD.L and ISAC.L shifts across timeframes, from 0.45 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HLQD.L vs. ISAC.L — Risk / Return Rank
HLQD.L
ISAC.L
HLQD.L vs. ISAC.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ Corp Bond Interest Rate Hedged UCITS ETF (HLQD.L) and iShares MSCI ACWI UCITS ETF USD (Acc) (ISAC.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.
| HLQD.L | ISAC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.34 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.55 | 2.70 | +0.86 |
| Martin ratioReturn relative to average drawdown | 11.38 | 10.76 | +0.63 |
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Drawdowns
HLQD.L vs. ISAC.L - Drawdown Comparison
The maximum HLQD.L drawdown since its inception was -21.96%, smaller than the maximum ISAC.L drawdown of -33.82%. Use the drawdown chart below to compare losses from any high point for HLQD.L and ISAC.L.
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Drawdown Indicators
| HLQD.L | ISAC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.96% | -33.82% | +11.86% |
Max Drawdown (1Y)Largest decline over 1 year | -1.39% | -8.77% | +7.38% |
Max Drawdown (3Y)Largest decline over 3 years | -3.08% | -16.56% | +13.48% |
Max Drawdown (5Y)Largest decline over 5 years | -6.39% | -26.07% | +19.68% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.82% | — |
Current DrawdownCurrent decline from peak | -0.34% | -1.03% | +0.69% |
Average DrawdownAverage peak-to-trough decline | -1.33% | -4.62% | +3.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 2.20% | -1.77% |
Volatility
HLQD.L vs. ISAC.L - Volatility Comparison
The current volatility for iShares $ Corp Bond Interest Rate Hedged UCITS ETF (HLQD.L) is 0.83%, while iShares MSCI ACWI UCITS ETF USD (Acc) (ISAC.L) has a volatility of 3.18%. This indicates that HLQD.L experiences smaller price fluctuations and is considered to be less risky than ISAC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HLQD.L | ISAC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.83% | 3.18% | -2.35% |
Volatility (6M)Calculated over the trailing 6-month period | 2.35% | 10.57% | -8.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.30% | 12.88% | -9.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.36% | 15.65% | -11.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.09% | 15.82% | -9.73% |
HLQD.L vs. ISAC.L - Expense Ratio Comparison
HLQD.L has a 0.25% expense ratio, which is higher than ISAC.L's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
HLQD.L vs. ISAC.L - Dividend Comparison
Neither HLQD.L nor ISAC.L has paid dividends to shareholders.
Frequently Asked Questions
HLQD.L and ISAC.L have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ISAC.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ISAC.L is cheaper with a 0.20% expense ratio, compared with 0.25% for HLQD.L.
HLQD.L is categorized as Global Bonds, while ISAC.L is Global Equities. HLQD.L tracks iShares $ Corp Bond Interest Rate Hedged UCITS ETF, while ISAC.L tracks MSCI All Country World Index (Net). Their fees differ too: 0.25% for HLQD.L and 0.20% for ISAC.L.
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