IRCP.L vs. SGSU.L
IRCP.L (iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist)) and SGSU.L (iShares $ Corp Bond 0-3yr ESG SRI UCITS ETF GBP Hedged (Dist)) are both Global Bonds funds from iShares - IRCP.L tracks the iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) while SGSU.L tracks the iShares $ Corp Bond 0-3yr ESG SRI UCITS ETF GBP Hedged (Dist). Both are passively managed. Over the past 5 years, IRCP.L returned 2.73%/yr vs 2.78%/yr for SGSU.L. At a 0.07 correlation, their price movements are largely independent. IRCP.L charges 0.25%/yr vs 0.17%/yr for SGSU.L.
Performance
IRCP.L vs. SGSU.L - Performance Comparison
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Different Trading Currencies
IRCP.L is traded in EUR, while SGSU.L is traded in GBP. To make them comparable, the SGSU.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, IRCP.L achieves a 1.46% return, which is significantly lower than SGSU.L's 4.50% return.
IRCP.L
- 1D
- 0.04%
- 1M
- 0.05%
- 6M
- 1.47%
- YTD
- 1.46%
- 1Y
- 3.00%
- 3Y*
- 5.19%
- 5Y*
- 2.73%
- 10Y*
- 1.58%
SGSU.L
- 1D
- 0.00%
- 1M
- 2.16%
- 6M
- 3.51%
- YTD
- 4.50%
- 1Y
- 6.02%
- 3Y*
- 5.38%
- 5Y*
- 2.78%
- 10Y*
- —
IRCP.L vs. SGSU.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) | 1.46% | 4.21% | 6.47% | 5.14% | -2.74% | -0.24% | 0.84% | 1.32% |
SGSU.L iShares $ Corp Bond 0-3yr ESG SRI UCITS ETF GBP Hedged (Dist) | 4.50% | -0.36% | 10.24% | 6.50% | -7.68% | 6.05% | -3.13% | 6.81% |
Correlation
The correlation between IRCP.L and SGSU.L is 0.06, 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 | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2019 | 0.07 |
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Return for Risk
IRCP.L vs. SGSU.L — Risk / Return Rank
IRCP.L
SGSU.L
IRCP.L vs. SGSU.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 iShares $ Corp Bond 0-3yr ESG SRI UCITS ETF GBP Hedged (Dist) (SGSU.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 | SGSU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.26 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.04 | 3.49 | -0.45 |
| Martin ratioReturn relative to average drawdown | 12.47 | 10.07 | +2.40 |
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Drawdowns
IRCP.L vs. SGSU.L - Drawdown Comparison
The maximum IRCP.L drawdown since its inception was -14.44%, smaller than the maximum SGSU.L drawdown of -17.44%. Use the drawdown chart below to compare losses from any high point for IRCP.L and SGSU.L.
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Drawdown Indicators
| IRCP.L | SGSU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.44% | -17.44% | +3.00% |
Max Drawdown (1Y)Largest decline over 1 year | -1.03% | -1.73% | +0.70% |
Max Drawdown (3Y)Largest decline over 3 years | -1.96% | -5.03% | +3.07% |
Max Drawdown (5Y)Largest decline over 5 years | -7.09% | -10.64% | +3.55% |
Max Drawdown (10Y)Largest decline over 10 years | -14.44% | — | — |
Current DrawdownCurrent decline from peak | -0.16% | 0.00% | -0.16% |
Average DrawdownAverage peak-to-trough decline | -1.31% | -2.84% | +1.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.25% | 0.60% | -0.35% |
Volatility
IRCP.L vs. SGSU.L - Volatility Comparison
The current volatility for iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) (IRCP.L) is 0.63%, while iShares $ Corp Bond 0-3yr ESG SRI UCITS ETF GBP Hedged (Dist) (SGSU.L) has a volatility of 1.18%. This indicates that IRCP.L experiences smaller price fluctuations and is considered to be less risky than SGSU.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 | SGSU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.63% | 1.18% | -0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 2.45% | 2.91% | -0.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.67% | 4.31% | -1.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.97% | 5.94% | -2.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.79% | 7.20% | -3.41% |
IRCP.L vs. SGSU.L - Expense Ratio Comparison
IRCP.L has a 0.25% expense ratio, which is higher than SGSU.L's 0.17% 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
IRCP.L vs. SGSU.L - Dividend Comparison
IRCP.L's dividend yield for the trailing twelve months is around 2.58%, less than SGSU.L's 4.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SGSU.L iShares $ Corp Bond 0-3yr ESG SRI UCITS ETF GBP Hedged (Dist) | 4.46% | 4.60% | 4.62% | 3.98% | 1.67% | 0.79% | 3.43% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IRCP.L and SGSU.L have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SGSU.L is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SGSU.L is cheaper with a 0.17% expense ratio, compared with 0.25% for IRCP.L.
IRCP.L tracks iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist), while SGSU.L tracks iShares $ Corp Bond 0-3yr ESG SRI UCITS ETF GBP Hedged (Dist). Their fees differ too: 0.25% for IRCP.L and 0.17% for SGSU.L.
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