LQGH.L vs. PUIP.L
LQGH.L (iShares $ Corp Bond UCITS ETF GBP Hedged (Dist)) and PUIP.L (Invesco USD IG Corporate Bond ESG Climate Transition 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 PUIP.L is a Sustainable Bonds fund tracking the Bloomberg MSCI USD Liquid Corporate Climate Transition ESG Bond Index (CTB) (USD). Both are passively managed. Over the past 5 years, LQGH.L returned -1.35%/yr vs -0.67%/yr for PUIP.L. Their correlation of 0.93 suggests significant overlap in exposure. LQGH.L charges 0.25%/yr vs 0.12%/yr for PUIP.L.
Performance
LQGH.L vs. PUIP.L - Performance Comparison
Loading charts...
Different Trading Currencies
LQGH.L is traded in GBP, while PUIP.L is traded in GBp. To make them comparable, the PUIP.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, LQGH.L achieves a -0.88% return, which is significantly lower than PUIP.L's -0.60% 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*
- —
PUIP.L
- 1D
- 0.01%
- 1M
- -0.99%
- 6M
- -0.46%
- YTD
- -0.60%
- 1Y
- 3.58%
- 3Y*
- 4.25%
- 5Y*
- -0.67%
- 10Y*
- —
LQGH.L vs. PUIP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
LQGH.L iShares $ Corp Bond UCITS ETF GBP Hedged (Dist) | -0.88% | 7.39% | 1.02% | 7.48% | -18.79% | -1.87% | 8.22% | 1.16% |
PUIP.L Invesco USD IG Corporate Bond ESG Climate Transition UCITS ETF GBP Hedged (Dist) | -0.60% | 7.40% | 1.97% | 6.75% | -16.40% | -1.56% | 7.62% | 0.89% |
Correlation
The correlation between LQGH.L and PUIP.L is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2019 | 0.93 |
The correlation between LQGH.L and PUIP.L has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
LQGH.L vs. PUIP.L — Risk / Return Rank
LQGH.L
PUIP.L
LQGH.L vs. PUIP.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 Invesco USD IG Corporate Bond ESG Climate Transition UCITS ETF GBP Hedged (Dist) (PUIP.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 | PUIP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.14 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.07 | 1.27 | -0.20 |
| Martin ratioReturn relative to average drawdown | 2.84 | 3.81 | -0.97 |
Loading charts...
Drawdowns
LQGH.L vs. PUIP.L - Drawdown Comparison
The maximum LQGH.L drawdown since its inception was -25.71%, which is greater than PUIP.L's maximum drawdown of -22.48%. Use the drawdown chart below to compare losses from any high point for LQGH.L and PUIP.L.
Loading charts...
Drawdown Indicators
| LQGH.L | PUIP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.71% | -22.48% | -3.23% |
Max Drawdown (1Y)Largest decline over 1 year | -3.44% | -2.98% | -0.46% |
Max Drawdown (3Y)Largest decline over 3 years | -7.99% | -5.86% | -2.13% |
Max Drawdown (5Y)Largest decline over 5 years | -25.61% | -22.43% | -3.18% |
Current DrawdownCurrent decline from peak | -7.89% | -4.38% | -3.51% |
Average DrawdownAverage peak-to-trough decline | -8.50% | -8.30% | -0.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 1.00% | +0.30% |
Volatility
LQGH.L vs. PUIP.L - Volatility Comparison
iShares $ Corp Bond UCITS ETF GBP Hedged (Dist) (LQGH.L) has a higher volatility of 1.39% compared to Invesco USD IG Corporate Bond ESG Climate Transition UCITS ETF GBP Hedged (Dist) (PUIP.L) at 1.09%. This indicates that LQGH.L's price experiences larger fluctuations and is considered to be riskier than PUIP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| LQGH.L | PUIP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.39% | 1.09% | +0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 4.46% | 3.58% | +0.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.99% | 4.63% | +1.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.68% | 7.08% | +1.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.84% | 7.99% | +0.85% |
LQGH.L vs. PUIP.L - Expense Ratio Comparison
LQGH.L has a 0.25% expense ratio, which is higher than PUIP.L's 0.12% 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
LQGH.L vs. PUIP.L - Dividend Comparison
LQGH.L's dividend yield for the trailing twelve months is around 4.97%, which matches PUIP.L's 4.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
PUIP.L Invesco USD IG Corporate Bond ESG Climate Transition UCITS ETF GBP Hedged (Dist) | 4.99% | 4.72% | 4.73% | 4.00% | 2.99% | 2.31% | 2.85% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.91, LQGH.L and PUIP.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, PUIP.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PUIP.L is cheaper with a 0.12% expense ratio, compared with 0.25% for LQGH.L.
LQGH.L is categorized as Global Corporate Bonds, while PUIP.L is Sustainable Bonds. LQGH.L tracks Markit iBoxx USD Liquid Investment Grade Index, while PUIP.L tracks Bloomberg MSCI USD Liquid Corporate Climate Transition ESG Bond Index (CTB) (USD). They also come from different issuers: iShares and Invesco. Their fees differ too: 0.25% for LQGH.L and 0.12% for PUIP.L.
Find the right allocation for LQGH.L and PUIP.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer