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IUCB.L vs. SUSD.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IUCB.L vs. SUSD.L

Last updated Jun 5, 2026

IUCB.L (SPDR Bloomberg 1-10 Year US Corporate Bond UCITS ETF) and SUSD.L (SPDR Bloomberg 0-3 Year US Corporate Bond UCITS ETF) are both Corporate Bonds funds from State Street - IUCB.L tracks the Bloomberg US Corp Bond TR USD while SUSD.L tracks the Bloomberg US Corp 1-3 Yr TR USD. Both are passively managed. Over the past 5 years, IUCB.L returned 1.88%/yr vs 2.94%/yr for SUSD.L. At a 0.07 correlation, their price movements are largely independent. Both charge a 0.12% expense ratio.

Performance

IUCB.L vs. SUSD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Bloomberg 1-10 Year US Corporate Bond UCITS ETF (IUCB.L) and SPDR Bloomberg 0-3 Year US Corporate Bond UCITS ETF (SUSD.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

IUCB.L is traded in USD, while SUSD.L is traded in GBP. To make them comparable, the SUSD.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, IUCB.L achieves a 0.43% return, which is significantly lower than SUSD.L's 1.09% return.

IUCB.L

1D
0.18%
1M
-0.03%
YTD
0.43%
6M
0.88%
1Y
5.00%
3Y*
5.84%
5Y*
1.88%
10Y*
—

SUSD.L

1D
0.10%
1M
0.42%
YTD
1.09%
6M
1.72%
1Y
4.41%
3Y*
5.16%
5Y*
2.94%
10Y*
2.61%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IUCB.L vs. SUSD.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IUCB.L
SPDR Bloomberg 1-10 Year US Corporate Bond UCITS ETF		0.43%7.84%4.54%7.17%-9.26%-1.61%7.94%8.74%-3.80%0.80%
SUSD.L
SPDR Bloomberg 0-3 Year US Corporate Bond UCITS ETF		1.09%5.73%5.39%4.79%-2.05%0.19%2.66%5.40%1.24%1.08%

Correlation

The correlation between IUCB.L and SUSD.L is 0.02, 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

0.02

Correlation (3Y)
Calculated over the trailing 3-year period

0.15

Correlation (5Y)
Calculated over the trailing 5-year period

0.13

Correlation (All Time)
Calculated using the full available price history since Jul 13, 2016

0.07

The correlation between IUCB.L and SUSD.L shifts across timeframes, from 0.02 (1 year) to 0.15 (3 years), reflecting how their relationship changes across market environments.

IUCB.L vs. SUSD.L - Sectors Allocation Comparison

Sectors
IUCB.L
SUSD.L

Financial Services

26.3%
30.0%

Healthcare

5.8%
6.0%

Technology

5.0%
4.8%

Consumer Cyclical

4.6%
4.9%

Energy

4.0%
2.7%

Communication Services

4.0%
2.4%

Industrials

3.7%
3.9%

Utilities

3.1%
3.1%

Consumer Defensive

3.0%
2.9%

Real Estate

2.2%
2.1%

Basic Materials

1.1%
0.9%

Financial Services

IUCB.L
26.3%
SUSD.L
30.0%

Healthcare

IUCB.L
5.8%
SUSD.L
6.0%

Technology

IUCB.L
5.0%
SUSD.L
4.8%

Consumer Cyclical

IUCB.L
4.6%
SUSD.L
4.9%

Energy

IUCB.L
4.0%
SUSD.L
2.7%

Communication Services

IUCB.L
4.0%
SUSD.L
2.4%

Industrials

IUCB.L
3.7%
SUSD.L
3.9%

Utilities

IUCB.L
3.1%
SUSD.L
3.1%

Consumer Defensive

IUCB.L
3.0%
SUSD.L
2.9%

Real Estate

IUCB.L
2.2%
SUSD.L
2.1%

Basic Materials

IUCB.L
1.1%
SUSD.L
0.9%

Compare stocks, funds, or ETFs

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SPDR Bloomberg 1-10 Year US Corporate Bond UCITS ETF

SPDR Bloomberg 0-3 Year US Corporate Bond UCITS ETF

Often compared with IUCB.L:
IUCB.L vs. SDIA.LIUCB.L vs. QDVK.DEIUCB.L vs. SJNKIUCB.L vs. LQDE.LIUCB.L vs. ERNA.LIUCB.L vs. VDPA.LIUCB.L vs. USCR.L
Often compared with SUSD.L:
SUSD.L vs. IGSD.LSUSD.L vs. LQDE.LSUSD.L vs. VDPA.LSUSD.L vs. ICBU.LSUSD.L vs. SUSU.LSUSD.L vs. XDGU.LSUSD.L vs. ERNA.L

Return for Risk

IUCB.L vs. SUSD.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IUCB.L
IUCB.L Risk / Return Rank: 4545
Overall Rank
IUCB.L Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
IUCB.L Sortino Ratio Rank: 4040
Sortino Ratio Rank
IUCB.L Omega Ratio Rank: 4141
Omega Ratio Rank
IUCB.L Calmar Ratio Rank: 5454
Calmar Ratio Rank
IUCB.L Martin Ratio Rank: 5151
Martin Ratio Rank
SUSD.L
SUSD.L Risk / Return Rank: 2525
Overall Rank
SUSD.L Sharpe Ratio Rank: 2525
Sharpe Ratio Rank
SUSD.L Sortino Ratio Rank: 2525
Sortino Ratio Rank
SUSD.L Omega Ratio Rank: 2424
Omega Ratio Rank
SUSD.L Calmar Ratio Rank: 2727
Calmar Ratio Rank
SUSD.L Martin Ratio Rank: 2525
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IUCB.L vs. SUSD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg 1-10 Year US Corporate Bond UCITS ETF (IUCB.L) and SPDR Bloomberg 0-3 Year US Corporate Bond UCITS ETF (SUSD.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.

IUCB.LSUSD.LDifference
Sharpe ratioReturn per unit of total volatility
1.38
1.05

+0.33

Sortino ratioReturn per unit of downside risk
2.02
1.57

+0.45

Omega ratioGain probability vs. loss probability

1.26

1.19

+0.07

Calmar ratioReturn relative to maximum drawdown

2.60

3.60

-1.01

Martin ratioReturn relative to average drawdown

8.50

12.75

-4.25

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IUCB.L vs. SUSD.L - Sharpe Ratio Comparison

The current IUCB.L Sharpe Ratio is 1.38, which is higher than the SUSD.L Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of IUCB.L and SUSD.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

IUCB.LSUSD.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.38

1.05

+0.33

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.47

0.59

-0.11

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.50

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.48

0.46

+0.02

Drawdowns

IUCB.L vs. SUSD.L - Drawdown Comparison

The maximum IUCB.L drawdown since its inception was -14.12%, which is greater than SUSD.L's maximum drawdown of -8.01%. Use the drawdown chart below to compare losses from any high point for IUCB.L and SUSD.L.

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Drawdown Indicators

IUCB.LSUSD.LDifference

Max Drawdown

Largest peak-to-trough decline

-14.12%

-8.01%

-6.11%

Max Drawdown (1Y)

Largest decline over 1 year

-2.00%

-1.22%

-0.78%

Max Drawdown (3Y)

Largest decline over 3 years

-3.53%

-2.07%

-1.46%

Max Drawdown (5Y)

Largest decline over 5 years

-14.00%

-5.41%

-8.59%

Max Drawdown (10Y)

Largest decline over 10 years

—

-8.01%

—

Current Drawdown

Current decline from peak

-0.61%

-0.57%

-0.04%

Average Drawdown

Average peak-to-trough decline

-3.64%

-0.84%

-2.80%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.61%

0.35%

+0.26%

Volatility

IUCB.L vs. SUSD.L - Volatility Comparison

The current volatility for SPDR Bloomberg 1-10 Year US Corporate Bond UCITS ETF (IUCB.L) is 1.09%, while SPDR Bloomberg 0-3 Year US Corporate Bond UCITS ETF (SUSD.L) has a volatility of 1.75%. This indicates that IUCB.L experiences smaller price fluctuations and is considered to be less risky than SUSD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IUCB.LSUSD.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.09%

1.75%

-0.66%

Volatility (6M)

Calculated over the trailing 6-month period

2.46%

3.48%

-1.02%

Volatility (1Y)

Calculated over the trailing 1-year period

3.77%

4.19%

-0.42%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.24%

5.03%

+0.21%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

7.66%

5.26%

+2.40%

IUCB.L vs. SUSD.L - Expense Ratio Comparison

Both IUCB.L and SUSD.L have an expense ratio of 0.12%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

IUCB.L vs. SUSD.L - Dividend Comparison

IUCB.L's dividend yield for the trailing twelve months is around 4.67%, more than SUSD.L's 4.60% yield.

PositionTTM20252024202320222021202020192018201720162015
IUCB.L
SPDR Bloomberg 1-10 Year US Corporate Bond UCITS ETF		4.67%4.66%4.70%3.89%2.62%2.37%2.67%0.00%0.00%0.00%0.00%0.00%
SUSD.L
SPDR Bloomberg 0-3 Year US Corporate Bond UCITS ETF		4.60%4.91%4.20%3.11%1.14%1.80%2.77%2.57%1.66%1.74%1.28%1.00%

Frequently Asked Questions

IUCB.L and SUSD.L have a correlation of 0.02, 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 0.12% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

IUCB.L and SUSD.L have the same expense ratio: 0.12% per year.

IUCB.L tracks Bloomberg US Corp Bond TR USD, while SUSD.L tracks Bloomberg US Corp 1-3 Yr TR USD.

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