LQGH.L vs. V3GP.L
LQGH.L (iShares $ Corp Bond UCITS ETF GBP Hedged (Dist)) and V3GP.L (Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Distributing) are both Global Corporate Bonds funds - LQGH.L tracks the Markit iBoxx USD Liquid Investment Grade Index while V3GP.L tracks the Bloomberg Gbl Agg Corp TR Hdg GBP. Both are passively managed. Over the past 5 years, LQGH.L returned -1.35%/yr vs 0.19%/yr for V3GP.L. Their correlation of 0.87 suggests significant overlap in exposure. LQGH.L charges 0.25%/yr vs 0.15%/yr for V3GP.L.
Performance
LQGH.L vs. V3GP.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 V3GP.L's 0.39% 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*
- —
V3GP.L
- 1D
- 0.23%
- 1M
- -0.49%
- 6M
- 0.30%
- YTD
- 0.39%
- 1Y
- 3.62%
- 3Y*
- 4.98%
- 5Y*
- 0.19%
- 10Y*
- —
LQGH.L vs. V3GP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
LQGH.L iShares $ Corp Bond UCITS ETF GBP Hedged (Dist) | -0.88% | 7.39% | 1.02% | 7.48% | -18.79% | 2.94% |
V3GP.L Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Distributing | 0.39% | 6.28% | 3.50% | 7.55% | -14.46% | 1.52% |
Correlation
The correlation between LQGH.L and V3GP.L is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since May 20, 2021 | 0.87 |
The correlation between LQGH.L and V3GP.L has been stable across timeframes, ranging from 0.79 to 0.87 - a consistent structural relationship.
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Return for Risk
LQGH.L vs. V3GP.L — Risk / Return Rank
LQGH.L
V3GP.L
LQGH.L vs. V3GP.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 Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Distributing (V3GP.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 | V3GP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.19 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.07 | 1.39 | -0.32 |
| Martin ratioReturn relative to average drawdown | 2.84 | 4.49 | -1.65 |
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Drawdowns
LQGH.L vs. V3GP.L - Drawdown Comparison
The maximum LQGH.L drawdown since its inception was -25.71%, which is greater than V3GP.L's maximum drawdown of -20.08%. Use the drawdown chart below to compare losses from any high point for LQGH.L and V3GP.L.
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Drawdown Indicators
| LQGH.L | V3GP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.71% | -20.08% | -5.63% |
Max Drawdown (1Y)Largest decline over 1 year | -3.44% | -2.60% | -0.84% |
Max Drawdown (3Y)Largest decline over 3 years | -7.99% | -3.67% | -4.32% |
Max Drawdown (5Y)Largest decline over 5 years | -25.61% | -20.08% | -5.53% |
Current DrawdownCurrent decline from peak | -7.89% | -0.82% | -7.07% |
Average DrawdownAverage peak-to-trough decline | -8.50% | -7.55% | -0.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 0.81% | +0.49% |
Volatility
LQGH.L vs. V3GP.L - Volatility Comparison
iShares $ Corp Bond UCITS ETF GBP Hedged (Dist) (LQGH.L) has a higher volatility of 1.39% compared to Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Distributing (V3GP.L) at 0.89%. This indicates that LQGH.L's price experiences larger fluctuations and is considered to be riskier than V3GP.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 | V3GP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.39% | 0.89% | +0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 4.46% | 2.86% | +1.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.99% | 3.72% | +2.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.68% | 5.53% | +3.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.84% | 5.48% | +3.36% |
LQGH.L vs. V3GP.L - Expense Ratio Comparison
LQGH.L has a 0.25% expense ratio, which is higher than V3GP.L's 0.15% 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. V3GP.L - Dividend Comparison
LQGH.L's dividend yield for the trailing twelve months is around 4.97%, more than V3GP.L's 4.32% 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% |
V3GP.L Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Distributing | 4.32% | 4.43% | 4.36% | 4.10% | 2.48% | 0.71% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
LQGH.L and V3GP.L have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, V3GP.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
V3GP.L is cheaper with a 0.15% expense ratio, compared with 0.25% for LQGH.L.
LQGH.L tracks Markit iBoxx USD Liquid Investment Grade Index, while V3GP.L tracks Bloomberg Gbl Agg Corp TR Hdg GBP. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.25% for LQGH.L and 0.15% for V3GP.L.
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