SDHA.L vs. LQD
SDHA.L (iShares USD Short Duration High Yield Corporate Bond UCITS ETF USD (Acc)) and LQD (iShares iBoxx $ Investment Grade Corporate Bond ETF) are both exchange-traded funds - SDHA.L is a High Yield Bonds fund tracking the Bloomberg US Corporate High Yield TR USD, while LQD is a Corporate Bonds fund tracking the iBoxx $ Liquid Investment Grade Index. Both are passively managed. Over the past 5 years, SDHA.L returned 4.65%/yr vs -0.00%/yr for LQD. At a 0.31 correlation, their price movements are largely independent. SDHA.L charges 0.45%/yr vs 0.15%/yr for LQD.
Performance
SDHA.L vs. LQD - Performance Comparison
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Returns By Period
In the year-to-date period, SDHA.L achieves a 1.56% return, which is significantly higher than LQD's 0.67% return.
SDHA.L
- 1D
- 0.14%
- 1M
- 0.21%
- YTD
- 1.56%
- 6M
- 2.20%
- 1Y
- 7.09%
- 3Y*
- 7.71%
- 5Y*
- 4.65%
- 10Y*
- —
LQD
- 1D
- 0.21%
- 1M
- 0.56%
- YTD
- 0.67%
- 6M
- 0.36%
- 1Y
- 5.54%
- 3Y*
- 5.10%
- 5Y*
- -0.00%
- 10Y*
- 2.56%
SDHA.L vs. LQD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SDHA.L iShares USD Short Duration High Yield Corporate Bond UCITS ETF USD (Acc) | 1.56% | 8.87% | 6.63% | 8.90% | -3.48% | 3.62% | 3.98% | 9.51% | -0.74% |
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 0.67% | 7.90% | 0.86% | 9.40% | -17.92% | -1.84% | 10.97% | 17.37% | 0.25% |
Correlation
The correlation between SDHA.L and LQD is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Jul 4, 2018 | 0.31 |
The correlation between SDHA.L and LQD shifts across timeframes, from 0.31 (all time) to 0.44 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SDHA.L vs. LQD — Risk / Return Rank
SDHA.L
LQD
SDHA.L vs. LQD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Short Duration High Yield Corporate Bond UCITS ETF USD (Acc) (SDHA.L) and iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD). 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.
| SDHA.L | LQD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.08 | ||
| Sortino ratioReturn per unit of downside risk | +1.80 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.18 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 3.82 | 1.66 | +2.15 |
| Martin ratioReturn relative to average drawdown | 17.08 | 4.76 | +12.32 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SDHA.L | LQD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.13 | 1.05 | +1.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.85 | -0.00 | +0.85 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.30 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.75 | 0.54 | +0.21 |
Drawdowns
SDHA.L vs. LQD - Drawdown Comparison
The maximum SDHA.L drawdown since its inception was -17.77%, smaller than the maximum LQD drawdown of -24.95%. Use the drawdown chart below to compare losses from any high point for SDHA.L and LQD.
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Drawdown Indicators
| SDHA.L | LQD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.77% | -24.95% | +7.18% |
Max Drawdown (1Y)Largest decline over 1 year | -1.85% | -3.34% | +1.49% |
Max Drawdown (3Y)Largest decline over 3 years | -4.57% | -8.43% | +3.86% |
Max Drawdown (5Y)Largest decline over 5 years | -8.30% | -24.95% | +16.65% |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.95% | — |
Current DrawdownCurrent decline from peak | -0.07% | -3.51% | +3.44% |
Average DrawdownAverage peak-to-trough decline | -1.25% | -3.99% | +2.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | 1.17% | -0.76% |
Volatility
SDHA.L vs. LQD - Volatility Comparison
The current volatility for iShares USD Short Duration High Yield Corporate Bond UCITS ETF USD (Acc) (SDHA.L) is 1.32%, while iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) has a volatility of 1.62%. This indicates that SDHA.L experiences smaller price fluctuations and is considered to be less risky than LQD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SDHA.L | LQD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.32% | 1.62% | -0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 2.69% | 3.90% | -1.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.33% | 5.36% | -2.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.49% | 8.64% | -3.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.39% | 8.68% | -2.29% |
SDHA.L vs. LQD - Expense Ratio Comparison
SDHA.L has a 0.45% expense ratio, which is higher than LQD's 0.15% expense ratio.
Dividends
SDHA.L vs. LQD - Dividend Comparison
SDHA.L has not paid dividends to shareholders, while LQD's dividend yield for the trailing twelve months is around 4.56%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 4.56% | 4.48% | 4.45% | 3.99% | 3.30% | 2.30% | 2.66% | 3.29% | 3.67% | 3.10% | 3.34% | 3.47% |
SDHA.L iShares USD Short Duration High Yield Corporate Bond UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SDHA.L and LQD have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LQD is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LQD is cheaper with a 0.15% expense ratio, compared with 0.45% for SDHA.L.
SDHA.L is categorized as High Yield Bonds, while LQD is Corporate Bonds. SDHA.L tracks Bloomberg US Corporate High Yield TR USD, while LQD tracks iBoxx $ Liquid Investment Grade Index. Their fees differ too: 0.45% for SDHA.L and 0.15% for LQD.
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