SDIA.L vs. ICBU.L

Last updated Jun 5, 2026

SDIA.L (iShares USD Short Duration Corporate Bond UCITS ETF (Acc)) and ICBU.L (iShares USD Intermediate Credit Bond UCITS ETF) are both Corporate Bonds funds from iShares - SDIA.L tracks the Bloomberg US Corp 1-3 Yr TR USD while ICBU.L tracks the Bloomberg US Corp Bond TR USD. Both are passively managed. Over the past 5 years, SDIA.L returned 2.40%/yr vs 1.73%/yr for ICBU.L. A 0.67 correlation means they provide meaningful diversification when combined. SDIA.L charges 0.20%/yr vs 0.15%/yr for ICBU.L.

Performance

SDIA.L vs. ICBU.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares USD Short Duration Corporate Bond UCITS ETF (Acc) (SDIA.L) and iShares USD Intermediate Credit Bond UCITS ETF (ICBU.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SDIA.L achieves a 0.79% return, which is significantly higher than ICBU.L's 0.45% return.

SDIA.L

• 1D: 0.11%
• 1M: 0.39%
• YTD: 0.79%
• 6M: 1.24%
• 1Y: 4.27%
• 3Y*: 5.27%
• 5Y*: 2.40%
• 10Y*: —

ICBU.L

• 1D: 0.20%
• 1M: 0.20%
• YTD: 0.45%
• 6M: 0.86%
• 1Y: 4.93%
• 3Y*: 5.47%
• 5Y*: 1.73%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SDIA.L vs. ICBU.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SDIA.L iShares USD Short Duration Corporate Bond UCITS ETF (Acc)	0.79%	6.17%	4.99%	5.64%	-4.49%	-0.70%	4.50%	6.12%	0.82%	0.92%
ICBU.L iShares USD Intermediate Credit Bond UCITS ETF	0.45%	7.60%	4.08%	6.74%	-9.04%	-1.35%	6.50%	9.92%	-0.45%	1.40%

Correlation

The correlation between SDIA.L and ICBU.L is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since May 11, 2017	0.67

The correlation between SDIA.L and ICBU.L has been stable across timeframes, ranging from 0.67 to 0.75 - a consistent structural relationship.

Return for Risk

SDIA.L vs. ICBU.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SDIA.L

SDIA.L Risk / Return Rank: 79
SDIA.L Sharpe Ratio Rank: 73
SDIA.L Sortino Ratio Rank: 80
SDIA.L Omega Ratio Rank: 77
SDIA.L Calmar Ratio Rank: 81
SDIA.L Martin Ratio Rank: 82

ICBU.L

ICBU.L Risk / Return Rank: 49
ICBU.L Sharpe Ratio Rank: 48
ICBU.L Sortino Ratio Rank: 50
ICBU.L Omega Ratio Rank: 51
ICBU.L Calmar Ratio Rank: 47
ICBU.L Martin Ratio Rank: 51

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SDIA.L vs. ICBU.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares USD Short Duration Corporate Bond UCITS ETF (Acc) (SDIA.L) and iShares USD Intermediate Credit Bond UCITS ETF (ICBU.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.

	SDIA.L	ICBU.L	Difference
Sharpe ratio: Return per unit of total volatility	2.32	1.62	+0.69
Sortino ratio: Return per unit of downside risk	3.53	2.40	+1.13
Omega ratio: Gain probability vs. loss probability	1.45	1.31	+0.14
Calmar ratio: Return relative to maximum drawdown	4.17	2.29	+1.88
Martin ratio: Return relative to average drawdown	16.33	8.55	+7.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SDIA.L vs. ICBU.L - Sharpe Ratio Comparison

The current SDIA.L Sharpe Ratio is 2.32, which is higher than the ICBU.L Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of SDIA.L and ICBU.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SDIA.L	ICBU.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.32	1.62	+0.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.92	0.40	+0.52
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	0.61	+0.17

Drawdowns

SDIA.L vs. ICBU.L - Drawdown Comparison

The maximum SDIA.L drawdown since its inception was -12.55%, smaller than the maximum ICBU.L drawdown of -13.92%. Use the drawdown chart below to compare losses from any high point for SDIA.L and ICBU.L.

Drawdown Indicators

	SDIA.L	ICBU.L	Difference
Max Drawdown Largest peak-to-trough decline	-12.55%	-13.92%	+1.37%
Max Drawdown (1Y) Largest decline over 1 year	-1.02%	-2.14%	+1.12%
Max Drawdown (3Y) Largest decline over 3 years	-1.32%	-3.24%	+1.92%
Max Drawdown (5Y) Largest decline over 5 years	-7.61%	-13.92%	+6.31%
Current Drawdown Current decline from peak	-0.03%	-0.67%	+0.64%
Average Drawdown Average peak-to-trough decline	-1.17%	-2.78%	+1.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.26%	0.57%	-0.31%

Volatility

SDIA.L vs. ICBU.L - Volatility Comparison

The current volatility for iShares USD Short Duration Corporate Bond UCITS ETF (Acc) (SDIA.L) is 0.83%, while iShares USD Intermediate Credit Bond UCITS ETF (ICBU.L) has a volatility of 1.35%. This indicates that SDIA.L experiences smaller price fluctuations and is considered to be less risky than ICBU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SDIA.L	ICBU.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.83%	1.35%	-0.52%
Volatility (6M) Calculated over the trailing 6-month period	1.51%	2.46%	-0.95%
Volatility (1Y) Calculated over the trailing 1-year period	1.84%	3.03%	-1.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.62%	4.31%	-1.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.44%	4.42%	-0.98%

SDIA.L vs. ICBU.L - Expense Ratio Comparison

SDIA.L has a 0.20% expense ratio, which is higher than ICBU.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

SDIA.L vs. ICBU.L - Dividend Comparison

SDIA.L has not paid dividends to shareholders, while ICBU.L's dividend yield for the trailing twelve months is around 5.54%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
ICBU.L iShares USD Intermediate Credit Bond UCITS ETF	5.54%	4.21%	3.78%	2.77%	1.93%	1.93%	2.78%	2.93%	2.65%	0.44%
SDIA.L iShares USD Short Duration Corporate Bond UCITS ETF (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SDIA.L and ICBU.L in my portfolio?

SDIA.L and ICBU.L have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SDIA.L or ICBU.L?

On fees, ICBU.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SDIA.L or ICBU.L?

ICBU.L is cheaper with a 0.15% expense ratio, compared with 0.20% for SDIA.L.

What is the main difference between SDIA.L and ICBU.L?

SDIA.L tracks Bloomberg US Corp 1-3 Yr TR USD, while ICBU.L tracks Bloomberg US Corp Bond TR USD. Their fees differ too: 0.20% for SDIA.L and 0.15% for ICBU.L.