IRCP.L vs. FLRG.L
IRCP.L (iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist)) and FLRG.L (Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc)) are both exchange-traded funds - IRCP.L is a European Corporate Bonds fund tracking the Bloomberg MSCI EUR Corporate Interest Rate Hedged ESG SRI Index, while FLRG.L is a Global Bonds fund tracking the Bloomberg Global Aggregate EUR Green Bond Index. Both are passively managed. Over the past 5 years, IRCP.L returned 2.73%/yr vs -2.18%/yr for FLRG.L. At a correlation of -0.01, they often move in opposite directions. Both charge a 0.25% expense ratio.
Performance
IRCP.L vs. FLRG.L - Performance Comparison
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Returns By Period
In the year-to-date period, IRCP.L achieves a 1.43% return, which is significantly higher than FLRG.L's 0.63% return.
IRCP.L
- 1D
- -0.01%
- 1M
- 0.50%
- 6M
- 1.32%
- YTD
- 1.43%
- 1Y
- 3.03%
- 3Y*
- 5.13%
- 5Y*
- 2.73%
- 10Y*
- 1.57%
FLRG.L
- 1D
- -0.04%
- 1M
- -0.62%
- 6M
- 0.17%
- YTD
- 0.63%
- 1Y
- 1.22%
- 3Y*
- 3.27%
- 5Y*
- -2.18%
- 10Y*
- —
IRCP.L vs. FLRG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IRCP.L iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) | 1.43% | 4.21% | 6.47% | 5.14% | -2.74% | -0.24% | 0.84% | 1.23% |
FLRG.L Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc) | 0.63% | 0.59% | 2.78% | 7.71% | -18.99% | -3.01% | 5.46% | 3.44% |
Correlation
The correlation between IRCP.L and FLRG.L is 0.05, 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 | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since May 2, 2019 | -0.01 |
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Return for Risk
IRCP.L vs. FLRG.L — Risk / Return Rank
IRCP.L
FLRG.L
IRCP.L vs. FLRG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) (IRCP.L) and Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc) (FLRG.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.
| IRCP.L | FLRG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.74 | ||
| Sortino ratioReturn per unit of downside risk | +1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.07 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.94 | 0.58 | +2.36 |
| Martin ratioReturn relative to average drawdown | 12.04 | 1.62 | +10.42 |
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Drawdowns
IRCP.L vs. FLRG.L - Drawdown Comparison
The maximum IRCP.L drawdown since its inception was -14.44%, smaller than the maximum FLRG.L drawdown of -23.17%. Use the drawdown chart below to compare losses from any high point for IRCP.L and FLRG.L.
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Drawdown Indicators
| IRCP.L | FLRG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.44% | -23.17% | +8.73% |
Max Drawdown (1Y)Largest decline over 1 year | -1.03% | -2.48% | +1.45% |
Max Drawdown (3Y)Largest decline over 3 years | -1.96% | -3.41% | +1.45% |
Max Drawdown (5Y)Largest decline over 5 years | -7.06% | -22.63% | +15.57% |
Max Drawdown (10Y)Largest decline over 10 years | -14.44% | — | — |
Current DrawdownCurrent decline from peak | -0.19% | -12.19% | +12.00% |
Average DrawdownAverage peak-to-trough decline | -1.31% | -10.42% | +9.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.25% | 0.89% | -0.64% |
Volatility
IRCP.L vs. FLRG.L - Volatility Comparison
The current volatility for iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) (IRCP.L) is 0.60%, while Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc) (FLRG.L) has a volatility of 1.02%. This indicates that IRCP.L experiences smaller price fluctuations and is considered to be less risky than FLRG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IRCP.L | FLRG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.60% | 1.02% | -0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 2.45% | 2.98% | -0.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.67% | 3.61% | -0.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.96% | 5.37% | -2.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.79% | 4.99% | -1.20% |
IRCP.L vs. FLRG.L - Expense Ratio Comparison
Both IRCP.L and FLRG.L have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IRCP.L vs. FLRG.L - Dividend Comparison
IRCP.L's dividend yield for the trailing twelve months is around 2.58%, while FLRG.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLRG.L Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IRCP.L iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) | 2.58% | 2.91% | 3.70% | 2.52% | 0.43% | 0.70% | 0.82% | 0.92% | 0.58% | 0.71% | 1.35% | 1.47% |
Frequently Asked Questions
IRCP.L and FLRG.L have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
IRCP.L and FLRG.L have the same expense ratio: 0.25% per year.
IRCP.L is categorized as European Corporate Bonds, while FLRG.L is Global Bonds. IRCP.L tracks Bloomberg MSCI EUR Corporate Interest Rate Hedged ESG SRI Index, while FLRG.L tracks Bloomberg Global Aggregate EUR Green Bond Index. They also come from different issuers: iShares and Franklin.
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