IUVF.L vs. LQD
IUVF.L (iShares Edge MSCI USA Value Factor UCITS) and LQD (iShares iBoxx $ Investment Grade Corporate Bond ETF) are both exchange-traded funds - IUVF.L is a Large Cap Value Equities fund tracking the Russell 1000 Value TR USD, while LQD is a Corporate Bonds fund tracking the iBoxx $ Liquid Investment Grade Index. Both are passively managed. Over the past 5 years, IUVF.L returned 16.22%/yr vs 0.84%/yr for LQD. At a 0.15 correlation, their price movements are largely independent. IUVF.L charges 0.20%/yr vs 0.15%/yr for LQD.
Performance
IUVF.L vs. LQD - Performance Comparison
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Different Trading Currencies
IUVF.L is traded in GBp, while LQD is traded in USD. To make them comparable, the LQD values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, IUVF.L achieves a 41.36% return, which is significantly higher than LQD's 1.43% return.
IUVF.L
- 1D
- 0.24%
- 1M
- 8.67%
- YTD
- 41.36%
- 6M
- 41.69%
- 1Y
- 79.59%
- 3Y*
- 27.51%
- 5Y*
- 16.22%
- 10Y*
- —
LQD
- 1D
- 0.64%
- 1M
- 1.89%
- YTD
- 1.43%
- 6M
- 0.58%
- 1Y
- 7.00%
- 3Y*
- 2.80%
- 5Y*
- 0.84%
- 10Y*
- 3.13%
IUVF.L vs. LQD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IUVF.L iShares Edge MSCI USA Value Factor UCITS | 41.36% | 23.92% | 8.23% | 8.28% | -4.63% | 31.29% | -4.75% | 22.11% | -7.17% | 10.45% |
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 1.43% | 0.21% | 2.62% | 3.94% | -8.16% | -0.91% | 7.71% | 12.90% | 1.92% | -2.20% |
Correlation
The correlation between IUVF.L and LQD is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2016 | 0.15 |
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Return for Risk
IUVF.L vs. LQD — Risk / Return Rank
IUVF.L
LQD
IUVF.L vs. LQD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI USA Value Factor UCITS (IUVF.L) and iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD). 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.
| IUVF.L | LQD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.01 | ||
| Sortino ratioReturn per unit of downside risk | +5.01 | ||
| Omega ratioGain probability vs. loss probability | 1.89 | 1.19 | +0.69 |
| Calmar ratioReturn relative to maximum drawdown | 13.86 | 1.37 | +12.50 |
| Martin ratioReturn relative to average drawdown | 50.37 | 3.38 | +46.99 |
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Drawdowns
IUVF.L vs. LQD - Drawdown Comparison
The maximum IUVF.L drawdown since its inception was -31.83%, which is greater than LQD's maximum drawdown of -21.91%. Use the drawdown chart below to compare losses from any high point for IUVF.L and LQD.
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Drawdown Indicators
| IUVF.L | LQD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.83% | -21.91% | -9.92% |
Max Drawdown (1Y)Largest decline over 1 year | -5.71% | -5.14% | -0.57% |
Max Drawdown (3Y)Largest decline over 3 years | -20.13% | -9.15% | -10.98% |
Max Drawdown (5Y)Largest decline over 5 years | -20.13% | -15.41% | -4.72% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.79% | — |
Current DrawdownCurrent decline from peak | -4.52% | -7.55% | +3.03% |
Average DrawdownAverage peak-to-trough decline | -5.52% | -6.51% | +0.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.58% | 2.08% | -0.50% |
Volatility
IUVF.L vs. LQD - Volatility Comparison
iShares Edge MSCI USA Value Factor UCITS (IUVF.L) has a higher volatility of 7.07% compared to iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) at 1.68%. This indicates that IUVF.L's price experiences larger fluctuations and is considered to be riskier than LQD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IUVF.L | LQD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.07% | 1.68% | +5.39% |
Volatility (6M)Calculated over the trailing 6-month period | 12.64% | 5.13% | +7.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.62% | 6.62% | +9.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.01% | 9.75% | +6.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.94% | 11.33% | +6.61% |
IUVF.L vs. LQD - Expense Ratio Comparison
IUVF.L has a 0.20% expense ratio, which is higher than LQD's 0.15% 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
IUVF.L vs. LQD - Dividend Comparison
IUVF.L has not paid dividends to shareholders, while LQD's dividend yield for the trailing twelve months is around 4.55%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IUVF.L iShares Edge MSCI USA Value Factor UCITS | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 4.55% | 4.48% | 4.45% | 3.99% | 3.30% | 2.30% | 2.66% | 3.29% | 3.67% | 3.10% | 3.34% | 3.47% |
Frequently Asked Questions
IUVF.L and LQD have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LQD is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LQD is cheaper with a 0.15% expense ratio, compared with 0.20% for IUVF.L.
IUVF.L is categorized as Large Cap Value Equities, while LQD is Corporate Bonds. IUVF.L tracks Russell 1000 Value TR USD, while LQD tracks iBoxx $ Liquid Investment Grade Index. Their fees differ too: 0.20% for IUVF.L and 0.15% for LQD.
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