IBTA.L vs. LQDA.L
IBTA.L (iShares USD Treasury Bond 1-3yr UCITS ETF (Acc)) and LQDA.L (iShares USD Corporate Bond UCITS ETF (Acc)) are both exchange-traded funds - IBTA.L is a Government Bonds fund tracking the ICE US Treasury 1-3 Year Index, while LQDA.L is a Corporate Bonds fund tracking the Bloomberg US Corp Bond TR USD. Both are passively managed. Over the past 5 years, IBTA.L returned 1.87%/yr vs -0.01%/yr for LQDA.L. A 0.53 correlation means they provide meaningful diversification when combined. IBTA.L charges 0.07%/yr vs 0.20%/yr for LQDA.L.
Performance
IBTA.L vs. LQDA.L - Performance Comparison
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Returns By Period
In the year-to-date period, IBTA.L achieves a 0.46% return, which is significantly higher than LQDA.L's 0.02% return.
IBTA.L
- 1D
- 0.13%
- 1M
- 0.13%
- YTD
- 0.46%
- 6M
- 0.92%
- 1Y
- 3.43%
- 3Y*
- 4.23%
- 5Y*
- 1.87%
- 10Y*
- —
LQDA.L
- 1D
- 0.38%
- 1M
- 0.35%
- YTD
- 0.02%
- 6M
- 0.29%
- 1Y
- 5.53%
- 3Y*
- 5.02%
- 5Y*
- -0.01%
- 10Y*
- —
IBTA.L vs. LQDA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBTA.L iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) | 0.46% | 5.30% | 4.11% | 4.15% | -3.75% | -0.64% | 3.14% | 3.58% | 1.44% | -0.05% |
LQDA.L iShares USD Corporate Bond UCITS ETF (Acc) | 0.02% | 8.01% | 1.25% | 8.99% | -17.75% | -1.66% | 10.56% | 18.22% | -4.30% | 4.45% |
Correlation
The correlation between IBTA.L and LQDA.L is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Apr 18, 2017 | 0.53 |
The correlation between IBTA.L and LQDA.L shifts across timeframes, from 0.53 (all time) to 0.68 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IBTA.L vs. LQDA.L — Risk / Return Rank
IBTA.L
LQDA.L
IBTA.L vs. LQDA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.L) and iShares USD Corporate Bond UCITS ETF (Acc) (LQDA.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.
| IBTA.L | LQDA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.82 | ||
| Sortino ratioReturn per unit of downside risk | +3.17 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 1.18 | +0.41 |
| Calmar ratioReturn relative to maximum drawdown | 4.62 | 1.66 | +2.96 |
| Martin ratioReturn relative to average drawdown | 17.47 | 4.58 | +12.89 |
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
| IBTA.L | LQDA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.80 | 0.98 | +1.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.93 | -0.00 | +0.94 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.08 | 0.28 | +0.80 |
Drawdowns
IBTA.L vs. LQDA.L - Drawdown Comparison
The maximum IBTA.L drawdown since its inception was -5.80%, smaller than the maximum LQDA.L drawdown of -25.10%. Use the drawdown chart below to compare losses from any high point for IBTA.L and LQDA.L.
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Drawdown Indicators
| IBTA.L | LQDA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.80% | -25.10% | +19.30% |
Max Drawdown (1Y)Largest decline over 1 year | -0.74% | -3.32% | +2.58% |
Max Drawdown (3Y)Largest decline over 3 years | -0.89% | -7.86% | +6.97% |
Max Drawdown (5Y)Largest decline over 5 years | -5.70% | -25.10% | +19.40% |
Current DrawdownCurrent decline from peak | -0.13% | -3.58% | +3.45% |
Average DrawdownAverage peak-to-trough decline | -0.97% | -6.81% | +5.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.20% | 1.20% | -1.00% |
Volatility
IBTA.L vs. LQDA.L - Volatility Comparison
The current volatility for iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.L) is 0.43%, while iShares USD Corporate Bond UCITS ETF (Acc) (LQDA.L) has a volatility of 2.23%. This indicates that IBTA.L experiences smaller price fluctuations and is considered to be less risky than LQDA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTA.L | LQDA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.43% | 2.23% | -1.80% |
Volatility (6M)Calculated over the trailing 6-month period | 0.86% | 4.27% | -3.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.23% | 5.67% | -4.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.00% | 8.47% | -6.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.76% | 9.11% | -7.35% |
IBTA.L vs. LQDA.L - Expense Ratio Comparison
IBTA.L has a 0.07% expense ratio, which is lower than LQDA.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
IBTA.L vs. LQDA.L - Dividend Comparison
Neither IBTA.L nor LQDA.L has paid dividends to shareholders.
Frequently Asked Questions
IBTA.L and LQDA.L have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTA.L is cheaper with a 0.07% expense ratio, compared with 0.20% for LQDA.L.
IBTA.L is categorized as Government Bonds, while LQDA.L is Corporate Bonds. IBTA.L tracks ICE US Treasury 1-3 Year Index, while LQDA.L tracks Bloomberg US Corp Bond TR USD. Their fees differ too: 0.07% for IBTA.L and 0.20% for LQDA.L.
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