SLXX.L vs. USDG.L
SLXX.L (iShares Core £ Corp Bond UCITS ETF) and USDG.L (L&G ESG USD Corporate Bond UCITS ETF) are both Corporate Bonds funds - SLXX.L tracks the Markit iBoxx GBP Liquid Corporates Large Cap Index while USDG.L tracks the Bloomberg US Corp Bond TR USD. Both are passively managed. Over the past 5 years, SLXX.L returned -0.77%/yr vs 2.06%/yr for USDG.L. At a 0.28 correlation, their price movements are largely independent. SLXX.L charges 0.20%/yr vs 0.09%/yr for USDG.L.
Performance
SLXX.L vs. USDG.L - Performance Comparison
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Different Trading Currencies
SLXX.L is traded in GBP, while USDG.L is traded in GBp. To make them comparable, the USDG.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, SLXX.L achieves a -0.09% return, which is significantly lower than USDG.L's 0.73% return.
SLXX.L
- 1D
- 0.21%
- 1M
- 1.02%
- YTD
- -0.09%
- 6M
- 0.31%
- 1Y
- 4.74%
- 3Y*
- 5.83%
- 5Y*
- -0.77%
- 10Y*
- 1.80%
USDG.L
- 1D
- 0.34%
- 1M
- 1.46%
- YTD
- 0.73%
- 6M
- 0.35%
- 1Y
- 6.56%
- 3Y*
- 2.83%
- 5Y*
- 2.06%
- 10Y*
- —
SLXX.L vs. USDG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SLXX.L iShares Core £ Corp Bond UCITS ETF | -0.09% | 6.50% | 1.60% | 8.54% | -18.36% | -2.76% |
USDG.L L&G ESG USD Corporate Bond UCITS ETF | 0.73% | 0.15% | 4.75% | 2.41% | -3.62% | 1.57% |
Correlation
The correlation between SLXX.L and USDG.L is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Jan 22, 2021 | 0.28 |
The correlation between SLXX.L and USDG.L shifts across timeframes, from 0.09 (1 year) to 0.28 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SLXX.L vs. USDG.L — Risk / Return Rank
SLXX.L
USDG.L
SLXX.L vs. USDG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core £ Corp Bond UCITS ETF (SLXX.L) and L&G ESG USD Corporate Bond UCITS ETF (USDG.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.
| SLXX.L | USDG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.17 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.11 | 1.44 | -0.33 |
| Martin ratioReturn relative to average drawdown | 3.47 | 3.32 | +0.14 |
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
| SLXX.L | USDG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.85 | 0.83 | +0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.10 | 0.24 | -0.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.13 | +0.31 |
Drawdowns
SLXX.L vs. USDG.L - Drawdown Comparison
The maximum SLXX.L drawdown since its inception was -30.27%, which is greater than USDG.L's maximum drawdown of -12.80%. Use the drawdown chart below to compare losses from any high point for SLXX.L and USDG.L.
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Drawdown Indicators
| SLXX.L | USDG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.27% | -12.80% | -17.47% |
Max Drawdown (1Y)Largest decline over 1 year | -4.25% | -4.53% | +0.28% |
Max Drawdown (3Y)Largest decline over 3 years | -4.25% | -8.61% | +4.36% |
Max Drawdown (5Y)Largest decline over 5 years | -29.34% | -12.80% | -16.54% |
Max Drawdown (10Y)Largest decline over 10 years | -30.27% | — | — |
Current DrawdownCurrent decline from peak | -8.12% | -2.29% | -5.83% |
Average DrawdownAverage peak-to-trough decline | -5.61% | -5.01% | -0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.37% | 1.97% | -0.60% |
Volatility
SLXX.L vs. USDG.L - Volatility Comparison
iShares Core £ Corp Bond UCITS ETF (SLXX.L) has a higher volatility of 2.11% compared to L&G ESG USD Corporate Bond UCITS ETF (USDG.L) at 1.98%. This indicates that SLXX.L's price experiences larger fluctuations and is considered to be riskier than USDG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLXX.L | USDG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.11% | 1.98% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 4.81% | 6.75% | -1.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.59% | 7.88% | -2.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.06% | 8.67% | -0.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.08% | 8.64% | -0.56% |
SLXX.L vs. USDG.L - Expense Ratio Comparison
SLXX.L has a 0.20% expense ratio, which is higher than USDG.L's 0.09% 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
SLXX.L vs. USDG.L - Dividend Comparison
SLXX.L's dividend yield for the trailing twelve months is around 4.93%, more than USDG.L's 4.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SLXX.L iShares Core £ Corp Bond UCITS ETF | 4.93% | 4.82% | 4.68% | 4.06% | 2.75% | 2.06% | 2.12% | 2.44% | 2.71% | 2.73% | 2.99% | 3.39% |
USDG.L L&G ESG USD Corporate Bond UCITS ETF | 4.67% | 4.70% | 3.99% | 3.27% | 2.25% | 0.76% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SLXX.L and USDG.L have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, USDG.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
USDG.L is cheaper with a 0.09% expense ratio, compared with 0.20% for SLXX.L.
SLXX.L tracks Markit iBoxx GBP Liquid Corporates Large Cap Index, while USDG.L tracks Bloomberg US Corp Bond TR USD. They also come from different issuers: iShares and Legal & General. Their fees differ too: 0.20% for SLXX.L and 0.09% for USDG.L.
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