LQD vs. LQDS.L
LQD (iShares iBoxx $ Investment Grade Corporate Bond ETF) and LQDS.L (iShares USD Corporate Bond UCITS ETF (Dist)) are both Corporate Bonds funds from iShares - LQD tracks the iBoxx $ Liquid Investment Grade Index while LQDS.L tracks the Bloomberg US Corp Bond TR USD. Both are passively managed. Over the past 5 years, LQD returned -0.04%/yr vs -0.06%/yr for LQDS.L. A 0.67 correlation means they provide meaningful diversification when combined. LQD charges 0.15%/yr vs 0.20%/yr for LQDS.L.
Performance
LQD vs. LQDS.L - Performance Comparison
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Different Trading Currencies
LQD is traded in USD, while LQDS.L is traded in GBp. To make them comparable, the LQDS.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, LQD achieves a 0.46% return, which is significantly higher than LQDS.L's -0.21% return.
LQD
- 1D
- -0.28%
- 1M
- 0.72%
- YTD
- 0.46%
- 6M
- -0.03%
- 1Y
- 6.08%
- 3Y*
- 4.95%
- 5Y*
- -0.04%
- 10Y*
- 2.52%
LQDS.L
- 1D
- -0.37%
- 1M
- 0.59%
- YTD
- -0.21%
- 6M
- -0.11%
- 1Y
- 5.90%
- 3Y*
- 4.88%
- 5Y*
- -0.06%
- 10Y*
- —
LQD vs. LQDS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 0.46% | 7.90% | 0.86% | 9.40% | -17.92% | -1.84% | 10.97% | 17.37% | -3.79% | 7.06% |
LQDS.L iShares USD Corporate Bond UCITS ETF (Dist) | -0.21% | 8.15% | 1.08% | 8.49% | -17.81% | -1.30% | 10.17% | 18.83% | -4.25% | 6.58% |
Correlation
The correlation between LQD and LQDS.L is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2016 | 0.67 |
The correlation between LQD and LQDS.L has been stable across timeframes, ranging from 0.67 to 0.75 - a consistent structural relationship.
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Return for Risk
LQD vs. LQDS.L — Risk / Return Rank
LQD
LQDS.L
LQD vs. LQDS.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 USD Corporate Bond UCITS ETF (Dist) (LQDS.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.
| LQD | LQDS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.21 | ||
| Sortino ratioReturn per unit of downside risk | +0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.15 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | 1.57 | +0.26 |
| Martin ratioReturn relative to average drawdown | 5.23 | 4.71 | +0.52 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| LQD | LQDS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.14 | 0.92 | +0.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.01 | -0.01 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.29 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.25 | +0.28 |
Drawdowns
LQD vs. LQDS.L - Drawdown Comparison
The maximum LQD drawdown since its inception was -24.95%, roughly equal to the maximum LQDS.L drawdown of -24.96%. Use the drawdown chart below to compare losses from any high point for LQD and LQDS.L.
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Drawdown Indicators
| LQD | LQDS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.95% | -24.96% | +0.01% |
Max Drawdown (1Y)Largest decline over 1 year | -3.34% | -3.75% | +0.41% |
Max Drawdown (3Y)Largest decline over 3 years | -8.43% | -8.03% | -0.40% |
Max Drawdown (5Y)Largest decline over 5 years | -24.95% | -24.96% | +0.01% |
Max Drawdown (10Y)Largest decline over 10 years | -24.95% | — | — |
Current DrawdownCurrent decline from peak | -3.72% | -4.08% | +0.36% |
Average DrawdownAverage peak-to-trough decline | -3.99% | -6.60% | +2.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 1.25% | -0.08% |
Volatility
LQD vs. LQDS.L - Volatility Comparison
The current volatility for iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) is 1.65%, while iShares USD Corporate Bond UCITS ETF (Dist) (LQDS.L) has a volatility of 1.96%. This indicates that LQD experiences smaller price fluctuations and is considered to be less risky than LQDS.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 | LQDS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.65% | 1.96% | -0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 3.90% | 4.67% | -0.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.36% | 6.37% | -1.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.65% | 9.09% | -0.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.68% | 9.08% | -0.40% |
LQD vs. LQDS.L - Expense Ratio Comparison
LQD has a 0.15% expense ratio, which is lower than LQDS.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. LQDS.L - Dividend Comparison
LQD's dividend yield for the trailing twelve months is around 4.57%, less than LQDS.L's 4.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 4.57% | 4.48% | 4.45% | 3.99% | 3.30% | 2.30% | 2.66% | 3.29% | 3.67% | 3.10% | 3.34% | 3.47% |
LQDS.L iShares USD Corporate Bond UCITS ETF (Dist) | 4.95% | 4.92% | 4.91% | 4.66% | 3.68% | 2.63% | 2.95% | 3.51% | 3.57% | 3.39% | 1.64% | 0.00% |
Frequently Asked Questions
LQD and LQDS.L have a correlation of 0.69, 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 LQDS.L.
LQD tracks iBoxx $ Liquid Investment Grade Index, while LQDS.L tracks Bloomberg US Corp Bond TR USD. Their fees differ too: 0.15% for LQD and 0.20% for LQDS.L.
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