LQDH.L vs. IHHG.L
LQDH.L (iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist)) and IHHG.L (iShares $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist)) are both exchange-traded funds - LQDH.L is a Global Corporate Bonds fund tracking the IBOXX US Dollar Liquid Investment Grade IR Hedged Index (USD), while IHHG.L is a Corporate Bonds fund tracking the iBoxx USD Liquid High Yield Capped (USD). Both are passively managed. Over the past 5 years, LQDH.L returned 5.37%/yr vs 2.64%/yr for IHHG.L. At a 0.35 correlation, their price movements are largely independent. LQDH.L charges 0.25%/yr vs 0.55%/yr for IHHG.L.
Performance
LQDH.L vs. IHHG.L - Performance Comparison
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Different Trading Currencies
LQDH.L is traded in USD, while IHHG.L is traded in GBP. To make them comparable, the IHHG.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, LQDH.L achieves a 2.46% return, which is significantly higher than IHHG.L's 1.53% return.
LQDH.L
- 1D
- 0.07%
- 1M
- -0.21%
- 6M
- 2.01%
- YTD
- 2.46%
- 1Y
- 4.61%
- 3Y*
- 7.42%
- 5Y*
- 5.37%
- 10Y*
- 4.41%
IHHG.L
- 1D
- -0.45%
- 1M
- 1.44%
- 6M
- 1.67%
- YTD
- 1.53%
- 1Y
- 6.04%
- 3Y*
- 8.52%
- 5Y*
- 2.64%
- 10Y*
- —
LQDH.L vs. IHHG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
LQDH.L iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) | 2.46% | 4.93% | 8.27% | 11.54% | 0.28% | 0.92% | 0.77% | 10.76% | -1.90% |
IHHG.L iShares $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) | 1.53% | 17.26% | 4.61% | 15.56% | -19.99% | 2.50% | 5.69% | 14.97% | -11.41% |
Correlation
The correlation between LQDH.L and IHHG.L is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2018 | 0.35 |
The correlation between LQDH.L and IHHG.L shifts across timeframes, from 0.19 (1 year) to 0.35 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
LQDH.L vs. IHHG.L — Risk / Return Rank
LQDH.L
IHHG.L
LQDH.L vs. IHHG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) (LQDH.L) and iShares $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) (IHHG.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.
| LQDH.L | IHHG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.74 | ||
| Sortino ratioReturn per unit of downside risk | +1.10 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.12 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.30 | 0.90 | +2.40 |
| Martin ratioReturn relative to average drawdown | 11.26 | 2.38 | +8.88 |
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Drawdowns
LQDH.L vs. IHHG.L - Drawdown Comparison
The maximum LQDH.L drawdown since its inception was -23.77%, smaller than the maximum IHHG.L drawdown of -34.42%. Use the drawdown chart below to compare losses from any high point for LQDH.L and IHHG.L.
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Drawdown Indicators
| LQDH.L | IHHG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.77% | -34.42% | +10.65% |
Max Drawdown (1Y)Largest decline over 1 year | -1.39% | -6.71% | +5.32% |
Max Drawdown (3Y)Largest decline over 3 years | -2.81% | -9.62% | +6.81% |
Max Drawdown (5Y)Largest decline over 5 years | -6.42% | -33.92% | +27.50% |
Max Drawdown (10Y)Largest decline over 10 years | -23.77% | — | — |
Current DrawdownCurrent decline from peak | -0.34% | -1.76% | +1.42% |
Average DrawdownAverage peak-to-trough decline | -1.46% | -8.65% | +7.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | 2.54% | -2.13% |
Volatility
LQDH.L vs. IHHG.L - Volatility Comparison
The current volatility for iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) (LQDH.L) is 0.84%, while iShares $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) (IHHG.L) has a volatility of 1.98%. This indicates that LQDH.L experiences smaller price fluctuations and is considered to be less risky than IHHG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LQDH.L | IHHG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.84% | 1.98% | -1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 2.19% | 6.40% | -4.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.18% | 8.56% | -5.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.87% | 12.65% | -7.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.41% | 13.56% | -7.15% |
LQDH.L vs. IHHG.L - Expense Ratio Comparison
LQDH.L has a 0.25% expense ratio, which is lower than IHHG.L's 0.55% expense ratio.
Dividends
LQDH.L vs. IHHG.L - Dividend Comparison
LQDH.L's dividend yield for the trailing twelve months is around 4.33%, less than IHHG.L's 6.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IHHG.L iShares $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) | 6.15% | 6.06% | 6.23% | 5.55% | 5.21% | 4.25% | 4.89% | 5.47% | 3.58% | 0.00% | 0.00% | 0.00% |
LQDH.L iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) | 4.33% | 4.66% | 5.52% | 4.83% | 2.07% | 1.55% | 2.45% | 3.52% | 2.87% | 2.14% | 2.46% | 3.25% |
Frequently Asked Questions
LQDH.L and IHHG.L have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LQDH.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LQDH.L is cheaper with a 0.25% expense ratio, compared with 0.55% for IHHG.L.
LQDH.L is categorized as Global Corporate Bonds, while IHHG.L is Corporate Bonds. LQDH.L tracks IBOXX US Dollar Liquid Investment Grade IR Hedged Index (USD), while IHHG.L tracks iBoxx USD Liquid High Yield Capped (USD). Their fees differ too: 0.25% for LQDH.L and 0.55% for IHHG.L.
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