LQDE.L vs. ERND.L
LQDE.L (iShares $ Corp Bond UCITS ETF USD Distributing) and ERND.L (iShares $ Ultrashort Bond UCITS ETF USD (Dist)) are both exchange-traded funds - LQDE.L is a Corporate Bonds fund tracking the Morningstar US Corporate Bond TR USD, while ERND.L is a Ultrashort Bond fund tracking the Markit iBoxx USD Liquid Investment Grade Ultrashort Index (USD). Both are passively managed. Over the past 10 years, LQDE.L returned 2.12%/yr vs 2.76%/yr for ERND.L. At a 0.10 correlation, their price movements are largely independent. LQDE.L charges 0.20%/yr vs 0.09%/yr for ERND.L.
Performance
LQDE.L vs. ERND.L - Performance Comparison
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Returns By Period
In the year-to-date period, LQDE.L achieves a -0.98% return, which is significantly lower than ERND.L's 2.00% return. Over the past 10 years, LQDE.L has underperformed ERND.L with an annualized return of 2.12%, while ERND.L has yielded a comparatively higher 2.76% annualized return.
LQDE.L
- 1D
- -0.17%
- 1M
- -1.24%
- 6M
- -1.08%
- YTD
- -0.98%
- 1Y
- 4.36%
- 3Y*
- 4.45%
- 5Y*
- -0.71%
- 10Y*
- 2.12%
ERND.L
- 1D
- -0.02%
- 1M
- 0.22%
- 6M
- 1.84%
- YTD
- 2.00%
- 1Y
- 4.13%
- 3Y*
- 5.09%
- 5Y*
- 3.83%
- 10Y*
- 2.76%
LQDE.L vs. ERND.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LQDE.L iShares $ Corp Bond UCITS ETF USD Distributing | -0.98% | 8.09% | 1.06% | 9.14% | -17.81% | -2.04% | 10.98% | 17.87% | -3.94% | 6.81% |
ERND.L iShares $ Ultrashort Bond UCITS ETF USD (Dist) | 2.00% | 4.84% | 5.55% | 5.09% | 2.03% | 0.00% | 1.21% | 3.03% | 2.11% | 1.48% |
Correlation
The correlation between LQDE.L and ERND.L is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Oct 15, 2013 | 0.10 |
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Return for Risk
LQDE.L vs. ERND.L — Risk / Return Rank
LQDE.L
ERND.L
LQDE.L vs. ERND.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ Corp Bond UCITS ETF USD Distributing (LQDE.L) and iShares $ Ultrashort Bond UCITS ETF USD (Dist) (ERND.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.
| LQDE.L | ERND.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.44 | ||
| Sortino ratioReturn per unit of downside risk | -7.83 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 2.31 | -1.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.35 | 20.61 | -19.26 |
| Martin ratioReturn relative to average drawdown | 3.50 | 101.10 | -97.60 |
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Drawdowns
LQDE.L vs. ERND.L - Drawdown Comparison
The maximum LQDE.L drawdown since its inception was -29.86%, which is greater than ERND.L's maximum drawdown of -7.48%. Use the drawdown chart below to compare losses from any high point for LQDE.L and ERND.L.
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Drawdown Indicators
| LQDE.L | ERND.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.86% | -7.48% | -22.38% |
Max Drawdown (1Y)Largest decline over 1 year | -3.21% | -0.20% | -3.01% |
Max Drawdown (3Y)Largest decline over 3 years | -7.93% | -0.64% | -7.29% |
Max Drawdown (5Y)Largest decline over 5 years | -25.11% | -1.06% | -24.05% |
Max Drawdown (10Y)Largest decline over 10 years | -25.38% | -7.48% | -17.90% |
Current DrawdownCurrent decline from peak | -4.94% | -0.02% | -4.92% |
Average DrawdownAverage peak-to-trough decline | -4.78% | -0.08% | -4.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.24% | 0.04% | +1.20% |
Volatility
LQDE.L vs. ERND.L - Volatility Comparison
iShares $ Corp Bond UCITS ETF USD Distributing (LQDE.L) has a higher volatility of 1.47% compared to iShares $ Ultrashort Bond UCITS ETF USD (Dist) (ERND.L) at 0.21%. This indicates that LQDE.L's price experiences larger fluctuations and is considered to be riskier than ERND.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LQDE.L | ERND.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.47% | 0.21% | +1.26% |
Volatility (6M)Calculated over the trailing 6-month period | 4.35% | 0.66% | +3.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.76% | 0.79% | +4.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.46% | 1.26% | +7.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.67% | 2.08% | +6.59% |
LQDE.L vs. ERND.L - Expense Ratio Comparison
LQDE.L has a 0.20% expense ratio, which is higher than ERND.L's 0.09% 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
LQDE.L vs. ERND.L - Dividend Comparison
LQDE.L's dividend yield for the trailing twelve months is around 5.06%, more than ERND.L's 4.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERND.L iShares $ Ultrashort Bond UCITS ETF USD (Dist) | 4.31% | 4.70% | 5.54% | 5.00% | 1.57% | 0.49% | 1.55% | 2.71% | 2.19% | 1.39% | 0.99% | 0.72% |
LQDE.L iShares $ Corp Bond UCITS ETF USD Distributing | 5.06% | 4.89% | 5.02% | 4.58% | 3.74% | 2.68% | 2.77% | 3.42% | 3.69% | 3.25% | 3.40% | 3.36% |
Frequently Asked Questions
LQDE.L and ERND.L have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ERND.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ERND.L is cheaper with a 0.09% expense ratio, compared with 0.20% for LQDE.L.
LQDE.L is categorized as Corporate Bonds, while ERND.L is Ultrashort Bond. LQDE.L tracks Morningstar US Corporate Bond TR USD, while ERND.L tracks Markit iBoxx USD Liquid Investment Grade Ultrashort Index (USD). Their fees differ too: 0.20% for LQDE.L and 0.09% for ERND.L.
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