LQGH.L vs. IHHG.L
LQGH.L (iShares $ Corp Bond UCITS ETF GBP Hedged (Dist)) and IHHG.L (iShares $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist)) are both exchange-traded funds - LQGH.L is a Global Corporate Bonds fund tracking the Markit iBoxx USD Liquid Investment Grade Index, 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, LQGH.L returned -1.35%/yr vs 3.11%/yr for IHHG.L. At a 0.46 correlation, their price movements are largely independent. LQGH.L charges 0.25%/yr vs 0.55%/yr for IHHG.L.
Performance
LQGH.L vs. IHHG.L - Performance Comparison
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Returns By Period
In the year-to-date period, LQGH.L achieves a -0.88% return, which is significantly lower than IHHG.L's 1.59% return.
LQGH.L
- 1D
- 0.24%
- 1M
- -1.16%
- 6M
- -0.41%
- YTD
- -0.88%
- 1Y
- 3.71%
- 3Y*
- 3.84%
- 5Y*
- -1.35%
- 10Y*
- —
IHHG.L
- 1D
- -0.23%
- 1M
- 0.23%
- 6M
- 1.12%
- YTD
- 1.59%
- 1Y
- 5.78%
- 3Y*
- 7.40%
- 5Y*
- 3.11%
- 10Y*
- —
LQGH.L vs. IHHG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
LQGH.L iShares $ Corp Bond UCITS ETF GBP Hedged (Dist) | -0.88% | 7.39% | 1.02% | 7.48% | -18.79% | -1.87% | 8.22% | 15.86% | -1.67% |
IHHG.L iShares $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) | 1.59% | 9.03% | 6.38% | 9.77% | -10.41% | 3.44% | 2.55% | 10.54% | -1.67% |
Correlation
The correlation between LQGH.L and IHHG.L is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Mar 23, 2018 | 0.46 |
The correlation between LQGH.L and IHHG.L shifts across timeframes, from 0.46 (all time) to 0.57 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
LQGH.L vs. IHHG.L — Risk / Return Rank
LQGH.L
IHHG.L
LQGH.L vs. IHHG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ Corp Bond UCITS ETF GBP Hedged (Dist) (LQGH.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.
| LQGH.L | IHHG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.92 | ||
| Sortino ratioReturn per unit of downside risk | -1.57 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.32 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.07 | 2.27 | -1.19 |
| Martin ratioReturn relative to average drawdown | 2.84 | 10.12 | -7.28 |
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Drawdowns
LQGH.L vs. IHHG.L - Drawdown Comparison
The maximum LQGH.L drawdown since its inception was -25.71%, which is greater than IHHG.L's maximum drawdown of -23.51%. Use the drawdown chart below to compare losses from any high point for LQGH.L and IHHG.L.
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Drawdown Indicators
| LQGH.L | IHHG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.71% | -23.51% | -2.20% |
Max Drawdown (1Y)Largest decline over 1 year | -3.44% | -2.54% | -0.90% |
Max Drawdown (3Y)Largest decline over 3 years | -7.99% | -4.38% | -3.61% |
Max Drawdown (5Y)Largest decline over 5 years | -25.61% | -14.78% | -10.83% |
Current DrawdownCurrent decline from peak | -7.89% | -0.23% | -7.66% |
Average DrawdownAverage peak-to-trough decline | -8.50% | -2.98% | -5.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 0.57% | +0.73% |
Volatility
LQGH.L vs. IHHG.L - Volatility Comparison
iShares $ Corp Bond UCITS ETF GBP Hedged (Dist) (LQGH.L) has a higher volatility of 1.39% compared to iShares $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) (IHHG.L) at 0.79%. This indicates that LQGH.L's price experiences larger fluctuations and is considered to be riskier 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
| LQGH.L | IHHG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.39% | 0.79% | +0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 4.46% | 2.83% | +1.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.99% | 3.75% | +2.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.68% | 6.70% | +1.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.84% | 8.01% | +0.83% |
LQGH.L vs. IHHG.L - Expense Ratio Comparison
LQGH.L has a 0.25% expense ratio, which is lower than IHHG.L's 0.55% expense ratio.
Dividends
LQGH.L vs. IHHG.L - Dividend Comparison
LQGH.L's dividend yield for the trailing twelve months is around 4.97%, less than IHHG.L's 6.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
LQGH.L iShares $ Corp Bond UCITS ETF GBP Hedged (Dist) | 4.97% | 4.72% | 4.91% | 4.53% | 3.77% | 2.65% | 2.74% | 3.40% | 2.64% |
Frequently Asked Questions
LQGH.L and IHHG.L have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LQGH.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LQGH.L is cheaper with a 0.25% expense ratio, compared with 0.55% for IHHG.L.
LQGH.L is categorized as Global Corporate Bonds, while IHHG.L is Corporate Bonds. LQGH.L tracks Markit iBoxx USD Liquid Investment Grade Index, while IHHG.L tracks iBoxx USD Liquid High Yield Capped (USD). Their fees differ too: 0.25% for LQGH.L and 0.55% for IHHG.L.
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