LQD vs. IGLO.L
LQD (iShares iBoxx $ Investment Grade Corporate Bond ETF) and IGLO.L (iShares Global Government Bond UCITS) are both exchange-traded funds - LQD is a Corporate Bonds fund tracking the iBoxx $ Liquid Investment Grade Index, while IGLO.L is a Global Bonds fund tracking the Bloomberg Global Aggregate TR USD. Both are passively managed. Over the past 10 years, LQD returned 2.54%/yr vs -0.86%/yr for IGLO.L. At a 0.44 correlation, their price movements are largely independent. LQD charges 0.15%/yr vs 0.20%/yr for IGLO.L.
Performance
LQD vs. IGLO.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 IGLO.L's -1.54% return. Over the past 10 years, LQD has outperformed IGLO.L with an annualized return of 2.54%, while IGLO.L has yielded a comparatively lower -0.86% 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%
IGLO.L
- 1D
- 0.58%
- 1M
- 0.10%
- YTD
- -1.54%
- 6M
- -0.59%
- 1Y
- -0.32%
- 3Y*
- 1.50%
- 5Y*
- -3.38%
- 10Y*
- -0.86%
LQD vs. IGLO.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% |
IGLO.L iShares Global Government Bond UCITS | -1.54% | 7.14% | -3.65% | 4.00% | -17.69% | -6.89% | 9.37% | 5.54% | -0.30% | 6.12% |
Correlation
The correlation between LQD and IGLO.L is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2009 | 0.44 |
The correlation between LQD and IGLO.L shifts across timeframes, from 0.44 (all time) to 0.64 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
LQD vs. IGLO.L — Risk / Return Rank
LQD
IGLO.L
LQD vs. IGLO.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 Global Government Bond UCITS (IGLO.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 | IGLO.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.06 | ||
| Sortino ratioReturn per unit of downside risk | +1.52 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 0.99 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.55 | -0.13 | +1.68 |
| Martin ratioReturn relative to average drawdown | 4.37 | -0.31 | +4.68 |
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Drawdowns
LQD vs. IGLO.L - Drawdown Comparison
The maximum LQD drawdown since its inception was -24.95%, smaller than the maximum IGLO.L drawdown of -28.01%. Use the drawdown chart below to compare losses from any high point for LQD and IGLO.L.
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Drawdown Indicators
| LQD | IGLO.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.95% | -28.01% | +3.06% |
Max Drawdown (1Y)Largest decline over 1 year | -3.34% | -4.28% | +0.94% |
Max Drawdown (3Y)Largest decline over 3 years | -8.43% | -7.93% | -0.50% |
Max Drawdown (5Y)Largest decline over 5 years | -24.95% | -25.88% | +0.93% |
Max Drawdown (10Y)Largest decline over 10 years | -24.95% | -28.01% | +3.06% |
Current DrawdownCurrent decline from peak | -3.37% | -19.01% | +15.64% |
Average DrawdownAverage peak-to-trough decline | -3.99% | -9.03% | +5.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.19% | 1.75% | -0.56% |
Volatility
LQD vs. IGLO.L - Volatility Comparison
The current volatility for iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) is 1.78%, while iShares Global Government Bond UCITS (IGLO.L) has a volatility of 2.08%. This indicates that LQD experiences smaller price fluctuations and is considered to be less risky than IGLO.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 | IGLO.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.78% | 2.08% | -0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 4.02% | 4.42% | -0.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.37% | 5.92% | -0.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.65% | 7.47% | +1.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.69% | 6.67% | +2.02% |
LQD vs. IGLO.L - Expense Ratio Comparison
LQD has a 0.15% expense ratio, which is lower than IGLO.L's 0.20% expense ratio. Despite the difference, 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. IGLO.L - Dividend Comparison
LQD's dividend yield for the trailing twelve months is around 4.55%, more than IGLO.L's 3.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGLO.L iShares Global Government Bond UCITS | 3.09% | 2.86% | 2.51% | 1.47% | 0.78% | 0.63% | 0.99% | 1.21% | 1.07% | 0.93% | 1.09% | 0.60% |
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 IGLO.L have a correlation of 0.56, 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 IGLO.L.
LQD is categorized as Corporate Bonds, while IGLO.L is Global Bonds. LQD tracks iBoxx $ Liquid Investment Grade Index, while IGLO.L tracks Bloomberg Global Aggregate TR USD. Their fees differ too: 0.15% for LQD and 0.20% for IGLO.L.
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