IGSD.L vs. HPRO.L
IGSD.L (iShares USD Short Duration Corporate Bond UCITS ETF (Dist)) and HPRO.L (HSBC FTSE EPRA/NAREIT Developed UCITS ETF) are both exchange-traded funds - IGSD.L is a Corporate Bonds fund tracking the Bloomberg US Corp 1-3 Yr TR USD, while HPRO.L is a REIT fund tracking the FTSE EPRA Nareit Global TR USD. Both are passively managed. Over the past 10 years, IGSD.L returned 2.90%/yr vs 4.15%/yr for HPRO.L. At a 0.26 correlation, their price movements are largely independent. IGSD.L charges 0.20%/yr vs 0.24%/yr for HPRO.L.
Performance
IGSD.L vs. HPRO.L - Performance Comparison
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Different Trading Currencies
IGSD.L is traded in GBP, while HPRO.L is traded in GBp. To make them comparable, the HPRO.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, IGSD.L achieves a 3.20% return, which is significantly lower than HPRO.L's 11.19% return. Over the past 10 years, IGSD.L has underperformed HPRO.L with an annualized return of 2.90%, while HPRO.L has yielded a comparatively higher 4.15% annualized return.
IGSD.L
- 1D
- 0.41%
- 1M
- 2.62%
- YTD
- 3.20%
- 6M
- 3.81%
- 1Y
- 7.60%
- 3Y*
- 4.10%
- 5Y*
- 3.59%
- 10Y*
- 2.90%
HPRO.L
- 1D
- 0.66%
- 1M
- 2.63%
- YTD
- 11.19%
- 6M
- 12.57%
- 1Y
- 16.04%
- 3Y*
- 9.81%
- 5Y*
- 2.69%
- 10Y*
- 4.15%
IGSD.L vs. HPRO.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGSD.L iShares USD Short Duration Corporate Bond UCITS ETF (Dist) | 3.20% | -1.18% | 6.71% | -0.12% | 6.93% | 0.55% | 0.97% | 2.90% | 6.63% | -7.03% |
HPRO.L HSBC FTSE EPRA/NAREIT Developed UCITS ETF | 11.19% | 3.64% | 1.40% | 4.78% | -15.71% | 27.87% | -12.01% | 17.23% | 0.04% | 1.69% |
Correlation
The correlation between IGSD.L and HPRO.L is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2013 | 0.26 |
The correlation between IGSD.L and HPRO.L shifts across timeframes, from 0.07 (5 years) to 0.26 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IGSD.L vs. HPRO.L — Risk / Return Rank
IGSD.L
HPRO.L
IGSD.L vs. HPRO.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Short Duration Corporate Bond UCITS ETF (Dist) (IGSD.L) and HSBC FTSE EPRA/NAREIT Developed UCITS ETF (HPRO.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.
| IGSD.L | HPRO.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.26 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 1.78 | -0.02 |
| Martin ratioReturn relative to average drawdown | 4.70 | 6.17 | -1.47 |
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Drawdowns
IGSD.L vs. HPRO.L - Drawdown Comparison
The maximum IGSD.L drawdown since its inception was -40.69%, which is greater than HPRO.L's maximum drawdown of -35.22%. Use the drawdown chart below to compare losses from any high point for IGSD.L and HPRO.L.
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Drawdown Indicators
| IGSD.L | HPRO.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.69% | -35.22% | -5.47% |
Max Drawdown (1Y)Largest decline over 1 year | -4.30% | -8.96% | +4.66% |
Max Drawdown (3Y)Largest decline over 3 years | -8.55% | -16.85% | +8.30% |
Max Drawdown (5Y)Largest decline over 5 years | -15.09% | -26.38% | +11.29% |
Max Drawdown (10Y)Largest decline over 10 years | -15.09% | -35.22% | +20.13% |
Current DrawdownCurrent decline from peak | -1.57% | 0.00% | -1.57% |
Average DrawdownAverage peak-to-trough decline | -16.19% | -8.64% | -7.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.61% | 2.59% | -0.98% |
Volatility
IGSD.L vs. HPRO.L - Volatility Comparison
The current volatility for iShares USD Short Duration Corporate Bond UCITS ETF (Dist) (IGSD.L) is 1.54%, while HSBC FTSE EPRA/NAREIT Developed UCITS ETF (HPRO.L) has a volatility of 3.24%. This indicates that IGSD.L experiences smaller price fluctuations and is considered to be less risky than HPRO.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGSD.L | HPRO.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.54% | 3.24% | -1.70% |
Volatility (6M)Calculated over the trailing 6-month period | 4.44% | 8.87% | -4.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.04% | 10.94% | -4.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.82% | 13.87% | -6.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.65% | 15.34% | -6.69% |
IGSD.L vs. HPRO.L - Expense Ratio Comparison
IGSD.L has a 0.20% expense ratio, which is lower than HPRO.L's 0.24% 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
IGSD.L vs. HPRO.L - Dividend Comparison
IGSD.L's dividend yield for the trailing twelve months is around 4.33%, more than HPRO.L's 2.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HPRO.L HSBC FTSE EPRA/NAREIT Developed UCITS ETF | 2.92% | 3.24% | 3.34% | 3.43% | 3.46% | 2.25% | 3.06% | 3.06% | 3.23% | 3.04% | 2.84% | 2.64% |
IGSD.L iShares USD Short Duration Corporate Bond UCITS ETF (Dist) | 4.33% | 4.35% | 3.94% | 3.16% | 1.82% | 1.46% | 2.26% | 2.71% | 2.22% | 1.92% | 1.60% | 1.38% |
Frequently Asked Questions
IGSD.L and HPRO.L have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGSD.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGSD.L is cheaper with a 0.20% expense ratio, compared with 0.24% for HPRO.L.
IGSD.L is categorized as Corporate Bonds, while HPRO.L is REIT. IGSD.L tracks Bloomberg US Corp 1-3 Yr TR USD, while HPRO.L tracks FTSE EPRA Nareit Global TR USD. They also come from different issuers: BlackRock and HSBC. Their fees differ too: 0.20% for IGSD.L and 0.24% for HPRO.L.
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