ICBU.L vs. FLO5.L
ICBU.L (iShares USD Intermediate Credit Bond UCITS ETF) and FLO5.L (iShares USD Floating Rate Bond UCITS ETF) are both Corporate Bonds funds from iShares tracking the Bloomberg US Corp Bond TR USD. Both are passively managed. Over the past 5 years, ICBU.L returned 1.73%/yr vs 0.15%/yr for FLO5.L. At a correlation of -0.04, they often move in opposite directions. ICBU.L charges 0.15%/yr vs 0.10%/yr for FLO5.L.
Performance
ICBU.L vs. FLO5.L - Performance Comparison
Loading charts...
Different Trading Currencies
ICBU.L is traded in USD, while FLO5.L is traded in GBp. To make them comparable, the FLO5.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, ICBU.L achieves a 0.45% return, which is significantly higher than FLO5.L's -0.29% return.
ICBU.L
- 1D
- 0.20%
- 1M
- 0.20%
- YTD
- 0.45%
- 6M
- 0.86%
- 1Y
- 4.93%
- 3Y*
- 5.47%
- 5Y*
- 1.73%
- 10Y*
- —
FLO5.L
- 1D
- 0.08%
- 1M
- -1.59%
- YTD
- -0.29%
- 6M
- 0.18%
- 1Y
- 0.29%
- 3Y*
- 0.14%
- 5Y*
- 0.15%
- 10Y*
- —
ICBU.L vs. FLO5.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ICBU.L iShares USD Intermediate Credit Bond UCITS ETF | 0.45% | 7.60% | 4.08% | 6.74% | -9.04% | -1.35% | 6.50% | 9.92% | -0.45% | -0.10% |
FLO5.L iShares USD Floating Rate Bond UCITS ETF | -0.29% | 0.21% | 0.18% | 0.48% | -0.05% | 0.24% | -1.24% | 1.85% | -0.99% | -0.02% |
Correlation
The correlation between ICBU.L and FLO5.L is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2017 | -0.04 |
The correlation between ICBU.L and FLO5.L shifts across timeframes, from -0.17 (1 year) to -0.04 (all time), reflecting how their relationship changes across market environments.
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
ICBU.L vs. FLO5.L — Risk / Return Rank
ICBU.L
FLO5.L
ICBU.L vs. FLO5.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Intermediate Credit Bond UCITS ETF (ICBU.L) and iShares USD Floating Rate Bond UCITS ETF (FLO5.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.
| ICBU.L | FLO5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.57 | ||
| Sortino ratioReturn per unit of downside risk | +2.30 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.02 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 2.29 | 0.11 | +2.18 |
| Martin ratioReturn relative to average drawdown | 8.55 | 0.22 | +8.33 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| ICBU.L | FLO5.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.62 | 0.05 | +1.57 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.40 | 0.03 | +0.37 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 0.01 | +0.60 |
Drawdowns
ICBU.L vs. FLO5.L - Drawdown Comparison
The maximum ICBU.L drawdown since its inception was -13.92%, smaller than the maximum FLO5.L drawdown of -15.60%. Use the drawdown chart below to compare losses from any high point for ICBU.L and FLO5.L.
Loading charts...
Drawdown Indicators
| ICBU.L | FLO5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.92% | -15.60% | +1.68% |
Max Drawdown (1Y)Largest decline over 1 year | -2.14% | -2.65% | +0.51% |
Max Drawdown (3Y)Largest decline over 3 years | -3.24% | -3.58% | +0.34% |
Max Drawdown (5Y)Largest decline over 5 years | -13.92% | -3.58% | -10.34% |
Current DrawdownCurrent decline from peak | -0.67% | -2.80% | +2.13% |
Average DrawdownAverage peak-to-trough decline | -2.78% | -1.78% | -1.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.57% | 1.28% | -0.71% |
Volatility
ICBU.L vs. FLO5.L - Volatility Comparison
The current volatility for iShares USD Intermediate Credit Bond UCITS ETF (ICBU.L) is 1.35%, while iShares USD Floating Rate Bond UCITS ETF (FLO5.L) has a volatility of 2.40%. This indicates that ICBU.L experiences smaller price fluctuations and is considered to be less risky than FLO5.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ICBU.L | FLO5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 2.40% | -1.05% |
Volatility (6M)Calculated over the trailing 6-month period | 2.46% | 4.02% | -1.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.03% | 5.25% | -2.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.31% | 5.78% | -1.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.42% | 6.24% | -1.82% |
ICBU.L vs. FLO5.L - Expense Ratio Comparison
ICBU.L has a 0.15% expense ratio, which is higher than FLO5.L's 0.10% 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
ICBU.L vs. FLO5.L - Dividend Comparison
ICBU.L's dividend yield for the trailing twelve months is around 5.54%, more than FLO5.L's 0.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FLO5.L iShares USD Floating Rate Bond UCITS ETF | 0.05% | 0.05% | 0.06% | 0.06% | 0.01% | 0.01% | 0.02% | 0.03% | 0.02% | 0.00% |
ICBU.L iShares USD Intermediate Credit Bond UCITS ETF | 5.54% | 4.21% | 3.78% | 2.77% | 1.93% | 1.93% | 2.78% | 2.93% | 2.65% | 0.44% |
Frequently Asked Questions
ICBU.L and FLO5.L have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FLO5.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLO5.L is cheaper with a 0.10% expense ratio, compared with 0.15% for ICBU.L.
Both ETFs track Bloomberg US Corp Bond TR USD. Their fees differ too: 0.15% for ICBU.L and 0.10% for FLO5.L.
Find the right allocation for ICBU.L and FLO5.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