HLQD.L vs. LQDH.L
HLQD.L (iShares $ Corp Bond Interest Rate Hedged UCITS ETF) and LQDH.L (iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist)) are both Global Bonds funds from iShares - HLQD.L tracks the iShares $ Corp Bond Interest Rate Hedged UCITS ETF while LQDH.L tracks the iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist). Both are passively managed. Over the past 5 years, HLQD.L returned 5.42%/yr vs 5.33%/yr for LQDH.L. A 0.70 correlation means they provide meaningful diversification when combined. Both charge a 0.25% expense ratio.
Performance
HLQD.L vs. LQDH.L - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both stocks are quite close, with HLQD.L having a 2.31% return and LQDH.L slightly lower at 2.29%.
HLQD.L
- 1D
- 0.21%
- 1M
- -0.07%
- 6M
- 2.17%
- YTD
- 2.31%
- 1Y
- 5.11%
- 3Y*
- 7.50%
- 5Y*
- 5.42%
- 10Y*
- —
LQDH.L
- 1D
- -0.21%
- 1M
- -0.37%
- 6M
- 1.67%
- YTD
- 2.29%
- 1Y
- 4.74%
- 3Y*
- 7.38%
- 5Y*
- 5.33%
- 10Y*
- 4.37%
HLQD.L vs. LQDH.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% |
LQDH.L iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) | 2.29% | 4.93% | 8.27% | 11.54% | 0.28% | 0.92% | 0.77% | 10.76% | -0.75% |
Correlation
The correlation between HLQD.L and LQDH.L is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2018 | 0.70 |
Over the past year, the correlation between HLQD.L and LQDH.L has dropped to 0.43 - well below their long-term average of 0.70, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HLQD.L vs. LQDH.L — Risk / Return Rank
HLQD.L
LQDH.L
HLQD.L vs. LQDH.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 $ 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.
| HLQD.L | LQDH.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.25 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.55 | 3.29 | +0.27 |
| Martin ratioReturn relative to average drawdown | 11.38 | 11.24 | +0.14 |
Loading charts...
Drawdowns
HLQD.L vs. LQDH.L - Drawdown Comparison
The maximum HLQD.L drawdown since its inception was -21.96%, smaller than the maximum LQDH.L drawdown of -23.77%. Use the drawdown chart below to compare losses from any high point for HLQD.L and LQDH.L.
Loading charts...
Drawdown Indicators
| HLQD.L | LQDH.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.96% | -23.77% | +1.81% |
Max Drawdown (1Y)Largest decline over 1 year | -1.39% | -1.39% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | -3.08% | -2.81% | -0.27% |
Max Drawdown (5Y)Largest decline over 5 years | -6.39% | -6.42% | +0.03% |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.77% | — |
Current DrawdownCurrent decline from peak | -0.34% | -0.51% | +0.17% |
Average DrawdownAverage peak-to-trough decline | -1.33% | -1.46% | +0.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 0.41% | +0.02% |
Volatility
HLQD.L vs. LQDH.L - Volatility Comparison
The current volatility for iShares $ Corp Bond Interest Rate Hedged UCITS ETF (HLQD.L) is 0.83%, while iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) (LQDH.L) has a volatility of 0.93%. This indicates that HLQD.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.
Loading charts...
Volatility by Period
| HLQD.L | LQDH.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.83% | 0.93% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 2.35% | 2.21% | +0.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.30% | 3.19% | +0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.36% | 4.87% | -0.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.09% | 6.41% | -0.32% |
HLQD.L vs. LQDH.L - Expense Ratio Comparison
Both HLQD.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
HLQD.L vs. LQDH.L - Dividend Comparison
HLQD.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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HLQD.L iShares $ Corp Bond Interest Rate Hedged UCITS ETF | 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
HLQD.L and LQDH.L have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
HLQD.L and LQDH.L have the same expense ratio: 0.25% per year.
HLQD.L tracks iShares $ Corp Bond Interest Rate Hedged UCITS ETF, while LQDH.L tracks iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist).
Find the right allocation for HLQD.L and LQDH.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer