ICBU.L vs. IGSD.L
ICBU.L (iShares USD Intermediate Credit Bond UCITS ETF) and IGSD.L (iShares USD Short Duration Corporate Bond UCITS ETF (Dist)) are both Corporate Bonds funds - ICBU.L tracks the Bloomberg US Corp Bond TR USD while IGSD.L tracks the Bloomberg US Corp 1-3 Yr TR USD. Both are passively managed. Over the past 5 years, ICBU.L returned 1.73%/yr vs 2.91%/yr for IGSD.L. At a 0.23 correlation, their price movements are largely independent. ICBU.L charges 0.15%/yr vs 0.20%/yr for IGSD.L.
Performance
ICBU.L vs. IGSD.L - Performance Comparison
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Different Trading Currencies
ICBU.L is traded in USD, while IGSD.L is traded in GBP. To make them comparable, the IGSD.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 lower than IGSD.L's 0.72% 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*
- —
IGSD.L
- 1D
- -0.16%
- 1M
- 0.19%
- YTD
- 0.72%
- 6M
- 1.46%
- 1Y
- 4.74%
- 3Y*
- 5.93%
- 5Y*
- 2.91%
- 10Y*
- 3.07%
ICBU.L vs. IGSD.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% | 1.36% |
IGSD.L iShares USD Short Duration Corporate Bond UCITS ETF (Dist) | 0.72% | 7.07% | 5.72% | 5.70% | -4.20% | -0.11% | 4.32% | 7.67% | 1.35% | 1.28% |
Correlation
The correlation between ICBU.L and IGSD.L is 0.08, 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 | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2017 | 0.23 |
The correlation between ICBU.L and IGSD.L shifts across timeframes, from 0.08 (1 year) to 0.27 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
ICBU.L vs. IGSD.L — Risk / Return Rank
ICBU.L
IGSD.L
ICBU.L vs. IGSD.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 Short Duration Corporate Bond UCITS ETF (Dist) (IGSD.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 | IGSD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.20 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.29 | 3.67 | -1.38 |
| Martin ratioReturn relative to average drawdown | 8.55 | 13.43 | -4.88 |
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
| ICBU.L | IGSD.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.62 | 1.18 | +0.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.40 | 0.57 | -0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.55 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 0.55 | +0.06 |
Drawdowns
ICBU.L vs. IGSD.L - Drawdown Comparison
The maximum ICBU.L drawdown since its inception was -13.92%, which is greater than IGSD.L's maximum drawdown of -11.83%. Use the drawdown chart below to compare losses from any high point for ICBU.L and IGSD.L.
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Drawdown Indicators
| ICBU.L | IGSD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.92% | -11.83% | -2.09% |
Max Drawdown (1Y)Largest decline over 1 year | -2.14% | -1.32% | -0.82% |
Max Drawdown (3Y)Largest decline over 3 years | -3.24% | -1.32% | -1.92% |
Max Drawdown (5Y)Largest decline over 5 years | -13.92% | -8.23% | -5.69% |
Max Drawdown (10Y)Largest decline over 10 years | — | -11.83% | — |
Current DrawdownCurrent decline from peak | -0.67% | -0.31% | -0.36% |
Average DrawdownAverage peak-to-trough decline | -2.78% | -1.13% | -1.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.57% | 0.36% | +0.21% |
Volatility
ICBU.L vs. IGSD.L - Volatility Comparison
iShares USD Intermediate Credit Bond UCITS ETF (ICBU.L) and iShares USD Short Duration Corporate Bond UCITS ETF (Dist) (IGSD.L) have volatilities of 1.35% and 1.33%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ICBU.L | IGSD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 1.33% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 2.46% | 3.28% | -0.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.03% | 4.11% | -1.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.31% | 5.09% | -0.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.42% | 5.59% | -1.17% |
ICBU.L vs. IGSD.L - Expense Ratio Comparison
ICBU.L has a 0.15% expense ratio, which is lower than IGSD.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
ICBU.L vs. IGSD.L - Dividend Comparison
ICBU.L's dividend yield for the trailing twelve months is around 5.54%, more than IGSD.L's 5.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
IGSD.L iShares USD Short Duration Corporate Bond UCITS ETF (Dist) | 5.06% | 5.08% | 4.67% | 3.69% | 2.12% | 1.71% | 2.51% | 3.32% | 2.94% | 2.50% | 2.16% | 2.11% |
Frequently Asked Questions
ICBU.L and IGSD.L have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ICBU.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ICBU.L is cheaper with a 0.15% expense ratio, compared with 0.20% for IGSD.L.
ICBU.L tracks Bloomberg US Corp Bond TR USD, while IGSD.L tracks Bloomberg US Corp 1-3 Yr TR USD. They also come from different issuers: iShares and BlackRock. Their fees differ too: 0.15% for ICBU.L and 0.20% for IGSD.L.
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