LQD vs. IGLN.L
LQD (iShares iBoxx $ Investment Grade Corporate Bond ETF) and IGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - LQD is a Corporate Bonds fund tracking the iBoxx $ Liquid Investment Grade Index, while IGLN.L is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, LQD returned 2.54%/yr vs 12.45%/yr for IGLN.L. At a 0.21 correlation, their price movements are largely independent. LQD charges 0.15%/yr vs 0.12%/yr for IGLN.L.
Performance
LQD vs. IGLN.L - Performance Comparison
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Returns By Period
In the year-to-date period, LQD achieves a 0.82% return, which is significantly higher than IGLN.L's -2.16% return. Over the past 10 years, LQD has underperformed IGLN.L with an annualized return of 2.54%, while IGLN.L has yielded a comparatively higher 12.45% annualized return.
LQD
- 1D
- -0.06%
- 1M
- 0.80%
- YTD
- 0.82%
- 6M
- 1.24%
- 1Y
- 5.80%
- 3Y*
- 5.30%
- 5Y*
- -0.21%
- 10Y*
- 2.54%
IGLN.L
- 1D
- 3.37%
- 1M
- -10.03%
- YTD
- -2.16%
- 6M
- -1.54%
- 1Y
- 23.07%
- 3Y*
- 29.33%
- 5Y*
- 17.43%
- 10Y*
- 12.45%
LQD vs. IGLN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 0.82% | 7.90% | 0.86% | 9.40% | -17.92% | -1.84% | 10.97% | 17.37% | -3.79% | 7.06% |
IGLN.L iShares Physical Gold ETC | -2.16% | 64.93% | 26.14% | 13.44% | -0.09% | -4.03% | 24.16% | 18.30% | -1.33% | 11.69% |
Correlation
The correlation between LQD and IGLN.L is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2011 | 0.21 |
The correlation between LQD and IGLN.L shifts across timeframes, from 0.14 (1 year) to 0.25 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
LQD vs. IGLN.L — Risk / Return Rank
LQD
IGLN.L
LQD vs. IGLN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) and iShares Physical Gold ETC (IGLN.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.
| LQD | IGLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.19 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.55 | 1.05 | +0.50 |
| Martin ratioReturn relative to average drawdown | 4.37 | 3.27 | +1.10 |
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Drawdowns
LQD vs. IGLN.L - Drawdown Comparison
The maximum LQD drawdown since its inception was -24.95%, smaller than the maximum IGLN.L drawdown of -45.25%. Use the drawdown chart below to compare losses from any high point for LQD and IGLN.L.
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Drawdown Indicators
| LQD | IGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.95% | -45.25% | +20.30% |
Max Drawdown (1Y)Largest decline over 1 year | -3.34% | -23.02% | +19.68% |
Max Drawdown (3Y)Largest decline over 3 years | -8.43% | -23.02% | +14.59% |
Max Drawdown (5Y)Largest decline over 5 years | -24.95% | -23.02% | -1.93% |
Max Drawdown (10Y)Largest decline over 10 years | -24.95% | -23.02% | -1.93% |
Current DrawdownCurrent decline from peak | -3.37% | -20.43% | +17.06% |
Average DrawdownAverage peak-to-trough decline | -3.99% | -19.72% | +15.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.19% | 7.41% | -6.22% |
Volatility
LQD vs. IGLN.L - Volatility Comparison
The current volatility for iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) is 1.78%, while iShares Physical Gold ETC (IGLN.L) has a volatility of 7.69%. This indicates that LQD experiences smaller price fluctuations and is considered to be less risky than IGLN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LQD | IGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.78% | 7.69% | -5.91% |
Volatility (6M)Calculated over the trailing 6-month period | 4.02% | 22.45% | -18.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.37% | 25.45% | -20.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.65% | 17.55% | -8.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.69% | 15.63% | -6.94% |
LQD vs. IGLN.L - Expense Ratio Comparison
LQD has a 0.15% expense ratio, which is higher than IGLN.L's 0.12% 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
LQD vs. IGLN.L - Dividend Comparison
LQD's dividend yield for the trailing twelve months is around 4.55%, while IGLN.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGLN.L iShares Physical Gold ETC | 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
LQD and IGLN.L have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGLN.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGLN.L is cheaper with a 0.12% expense ratio, compared with 0.15% for LQD.
LQD is categorized as Corporate Bonds, while IGLN.L is Gold. LQD tracks iBoxx $ Liquid Investment Grade Index, while IGLN.L tracks LBMA Gold Price. Their fees differ too: 0.15% for LQD and 0.12% for IGLN.L.
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