LQDE.L vs. USDC.L
LQDE.L (iShares $ Corp Bond UCITS ETF USD Distributing) and USDC.L (L&G USD Corporate Bond Screened UCITS ETF USD Distributing) are both Corporate Bonds funds - LQDE.L tracks the Morningstar US Corporate Bond TR USD while USDC.L tracks the L&G USD Corporate Bond Screened UCITS ETF USD Distributing. Both are passively managed. Over the past 5 years, LQDE.L returned -0.71%/yr vs 0.12%/yr for USDC.L. Their correlation of 0.90 suggests significant overlap in exposure. LQDE.L charges 0.20%/yr vs 0.09%/yr for USDC.L.
Performance
LQDE.L vs. USDC.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 higher than USDC.L's -2.18% 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%
USDC.L
- 1D
- -0.04%
- 1M
- -0.61%
- 6M
- 0.19%
- YTD
- -2.18%
- 1Y
- 2.22%
- 3Y*
- 4.39%
- 5Y*
- 0.12%
- 10Y*
- —
LQDE.L vs. USDC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
LQDE.L iShares $ Corp Bond UCITS ETF USD Distributing | -0.98% | 8.09% | 1.06% | 9.14% | -17.81% | -0.53% |
USDC.L L&G USD Corporate Bond Screened UCITS ETF USD Distributing | -2.18% | 7.42% | 3.13% | 8.35% | -13.91% | -0.43% |
Correlation
The correlation between LQDE.L and USDC.L is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Jan 15, 2021 | 0.90 |
The correlation between LQDE.L and USDC.L has been stable across timeframes, ranging from 0.83 to 0.91 - a consistent structural relationship.
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Return for Risk
LQDE.L vs. USDC.L — Risk / Return Rank
LQDE.L
USDC.L
LQDE.L vs. USDC.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 L&G USD Corporate Bond Screened UCITS ETF USD Distributing (USDC.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 | USDC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.38 | ||
| Sortino ratioReturn per unit of downside risk | +0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.08 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.35 | 0.45 | +0.90 |
| Martin ratioReturn relative to average drawdown | 3.50 | 1.05 | +2.45 |
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Drawdowns
LQDE.L vs. USDC.L - Drawdown Comparison
The maximum LQDE.L drawdown since its inception was -29.86%, which is greater than USDC.L's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for LQDE.L and USDC.L.
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Drawdown Indicators
| LQDE.L | USDC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.86% | -20.07% | -9.79% |
Max Drawdown (1Y)Largest decline over 1 year | -3.21% | -4.92% | +1.71% |
Max Drawdown (3Y)Largest decline over 3 years | -7.93% | -4.92% | -3.01% |
Max Drawdown (5Y)Largest decline over 5 years | -25.11% | -20.07% | -5.04% |
Max Drawdown (10Y)Largest decline over 10 years | -25.38% | — | — |
Current DrawdownCurrent decline from peak | -4.94% | -2.94% | -2.00% |
Average DrawdownAverage peak-to-trough decline | -4.78% | -6.75% | +1.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.24% | 2.12% | -0.88% |
Volatility
LQDE.L vs. USDC.L - Volatility Comparison
iShares $ Corp Bond UCITS ETF USD Distributing (LQDE.L) has a higher volatility of 1.47% compared to L&G USD Corporate Bond Screened UCITS ETF USD Distributing (USDC.L) at 1.13%. This indicates that LQDE.L's price experiences larger fluctuations and is considered to be riskier than USDC.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 | USDC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.47% | 1.13% | +0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 4.35% | 3.80% | +0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.76% | 5.88% | -0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.46% | 6.28% | +2.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.67% | 6.12% | +2.55% |
LQDE.L vs. USDC.L - Expense Ratio Comparison
LQDE.L has a 0.20% expense ratio, which is higher than USDC.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. USDC.L - Dividend Comparison
LQDE.L's dividend yield for the trailing twelve months is around 5.06%, more than USDC.L's 4.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
USDC.L L&G USD Corporate Bond Screened UCITS ETF USD Distributing | 4.82% | 4.47% | 4.08% | 3.24% | 2.36% | 0.78% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
LQDE.L and USDC.L have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, USDC.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
USDC.L is cheaper with a 0.09% expense ratio, compared with 0.20% for LQDE.L.
LQDE.L tracks Morningstar US Corporate Bond TR USD, while USDC.L tracks L&G USD Corporate Bond Screened UCITS ETF USD Distributing. They also come from different issuers: iShares and L&G. Their fees differ too: 0.20% for LQDE.L and 0.09% for USDC.L.
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