ICBU.L vs. FLOT.L
ICBU.L (iShares USD Intermediate Credit Bond UCITS ETF) and FLOT.L (iShares $ Floating Rate Bond UCITS ETF USD (Dist)) are both exchange-traded funds - ICBU.L is a Corporate Bonds fund tracking the Bloomberg US Corp Bond TR USD, while FLOT.L is a Ultra Short-Term Bonds fund tracking the Bloomberg US Floating Rate Note <5 Years Index. Both are passively managed. Over the past 5 years, ICBU.L returned 1.61%/yr vs 4.33%/yr for FLOT.L. At a 0.04 correlation, their price movements are largely independent. ICBU.L charges 0.15%/yr vs 0.10%/yr for FLOT.L.
Performance
ICBU.L vs. FLOT.L - Performance Comparison
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Returns By Period
In the year-to-date period, ICBU.L achieves a 0.34% return, which is significantly lower than FLOT.L's 2.38% return.
ICBU.L
- 1D
- 0.08%
- 1M
- -0.12%
- 6M
- 0.53%
- YTD
- 0.34%
- 1Y
- 4.22%
- 3Y*
- 5.40%
- 5Y*
- 1.61%
- 10Y*
- —
FLOT.L
- 1D
- 0.00%
- 1M
- 0.40%
- 6M
- 2.18%
- YTD
- 2.38%
- 1Y
- 4.77%
- 3Y*
- 5.63%
- 5Y*
- 4.33%
- 10Y*
- —
ICBU.L vs. FLOT.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ICBU.L iShares USD Intermediate Credit Bond UCITS ETF | 0.34% | 7.68% | 4.11% | 6.64% | -9.03% | -1.29% | 6.43% | 10.05% | -0.59% | 1.25% |
FLOT.L iShares $ Floating Rate Bond UCITS ETF USD (Dist) | 2.38% | 5.19% | 6.39% | 6.04% | 1.87% | 0.60% | 0.60% | 4.19% | 1.39% | 0.87% |
Correlation
The correlation between ICBU.L and FLOT.L is 0.03, 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 | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Jul 10, 2017 | 0.04 |
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Return for Risk
ICBU.L vs. FLOT.L — Risk / Return Rank
ICBU.L
FLOT.L
ICBU.L vs. FLOT.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 $ Floating Rate Bond UCITS ETF USD (Dist) (FLOT.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.
| ICBU.L | FLOT.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.19 | ||
| Sortino ratioReturn per unit of downside risk | -2.08 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.64 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | 1.89 | 23.83 | -21.94 |
| Martin ratioReturn relative to average drawdown | 6.74 | 44.39 | -37.65 |
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Drawdowns
ICBU.L vs. FLOT.L - Drawdown Comparison
The maximum ICBU.L drawdown since its inception was -14.04%, roughly equal to the maximum FLOT.L drawdown of -14.03%. Use the drawdown chart below to compare losses from any high point for ICBU.L and FLOT.L.
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Drawdown Indicators
| ICBU.L | FLOT.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.04% | -14.03% | -0.01% |
Max Drawdown (1Y)Largest decline over 1 year | -2.22% | -0.20% | -2.02% |
Max Drawdown (3Y)Largest decline over 3 years | -3.42% | -2.53% | -0.89% |
Max Drawdown (5Y)Largest decline over 5 years | -14.04% | -2.53% | -11.51% |
Current DrawdownCurrent decline from peak | -0.69% | 0.00% | -0.69% |
Average DrawdownAverage peak-to-trough decline | -2.75% | -0.22% | -2.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.62% | 0.11% | +0.51% |
Volatility
ICBU.L vs. FLOT.L - Volatility Comparison
iShares USD Intermediate Credit Bond UCITS ETF (ICBU.L) has a higher volatility of 0.87% compared to iShares $ Floating Rate Bond UCITS ETF USD (Dist) (FLOT.L) at 0.64%. This indicates that ICBU.L's price experiences larger fluctuations and is considered to be riskier than FLOT.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ICBU.L | FLOT.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.87% | 0.64% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 2.71% | 1.46% | +1.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.36% | 1.94% | +1.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.57% | 2.90% | +1.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.61% | 3.92% | +0.69% |
ICBU.L vs. FLOT.L - Expense Ratio Comparison
ICBU.L has a 0.15% expense ratio, which is higher than FLOT.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. FLOT.L - Dividend Comparison
ICBU.L's dividend yield for the trailing twelve months is around 6.72%, more than FLOT.L's 4.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FLOT.L iShares $ Floating Rate Bond UCITS ETF USD (Dist) | 4.68% | 5.02% | 6.05% | 5.50% | 1.45% | 0.60% | 1.59% | 2.91% | 2.21% | 0.46% |
ICBU.L iShares USD Intermediate Credit Bond UCITS ETF | 6.72% | 4.21% | 3.78% | 2.78% | 1.93% | 1.93% | 2.78% | 2.93% | 2.65% | 0.44% |
Frequently Asked Questions
ICBU.L and FLOT.L have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FLOT.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLOT.L is cheaper with a 0.10% expense ratio, compared with 0.15% for ICBU.L.
ICBU.L is categorized as Corporate Bonds, while FLOT.L is Ultra Short-Term Bonds. ICBU.L tracks Bloomberg US Corp Bond TR USD, while FLOT.L tracks Bloomberg US Floating Rate Note <5 Years Index. Their fees differ too: 0.15% for ICBU.L and 0.10% for FLOT.L.
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