SUAG.L vs. HLQD.L
SUAG.L (iShares US Aggregate Bond UCITS ETF USD (Dist)) and HLQD.L (iShares $ Corp Bond Interest Rate Hedged UCITS ETF) are both Global Bonds funds from iShares - SUAG.L tracks the iShares US Aggregate Bond UCITS ETF USD (Dist) while HLQD.L tracks the iShares $ Corp Bond Interest Rate Hedged UCITS ETF. Both are passively managed. Over the past 5 years, SUAG.L returned 0.09%/yr vs 5.74%/yr for HLQD.L. At a 0.50 correlation, their price movements are largely independent. Both charge a 0.25% expense ratio.
Performance
SUAG.L vs. HLQD.L - Performance Comparison
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Different Trading Currencies
SUAG.L is traded in GBP, while HLQD.L is traded in USD. To make them comparable, the HLQD.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, SUAG.L achieves a -0.45% return, which is significantly lower than HLQD.L's 1.68% return.
SUAG.L
- 1D
- -0.65%
- 1M
- -0.92%
- 6M
- -0.59%
- YTD
- -0.45%
- 1Y
- 3.47%
- 3Y*
- 2.64%
- 5Y*
- 0.09%
- 10Y*
- 1.02%
HLQD.L
- 1D
- 0.00%
- 1M
- -1.15%
- 6M
- 1.34%
- YTD
- 1.68%
- 1Y
- 3.78%
- 3Y*
- 6.21%
- 5Y*
- 5.74%
- 10Y*
- —
SUAG.L vs. HLQD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SUAG.L iShares US Aggregate Bond UCITS ETF USD (Dist) | -0.45% | -0.25% | 3.02% | -0.86% | -2.42% | -0.61% | 3.42% | 5.33% | 3.86% |
HLQD.L iShares $ Corp Bond Interest Rate Hedged UCITS ETF | 1.68% | -2.05% | 10.04% | 5.59% | 12.35% | 2.21% | -2.41% | 6.56% | 2.78% |
Correlation
The correlation between SUAG.L and HLQD.L is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2018 | 0.50 |
The correlation between SUAG.L and HLQD.L shifts across timeframes, from 0.47 (5 years) to 0.58 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SUAG.L vs. HLQD.L — Risk / Return Rank
SUAG.L
HLQD.L
SUAG.L vs. HLQD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares US Aggregate Bond UCITS ETF USD (Dist) (SUAG.L) and iShares $ Corp Bond Interest Rate Hedged UCITS ETF (HLQD.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.
| SUAG.L | HLQD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.10 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.71 | 0.91 | -0.20 |
| Martin ratioReturn relative to average drawdown | 1.66 | 2.48 | -0.82 |
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Drawdowns
SUAG.L vs. HLQD.L - Drawdown Comparison
The maximum SUAG.L drawdown since its inception was -18.68%, which is greater than HLQD.L's maximum drawdown of -15.87%. Use the drawdown chart below to compare losses from any high point for SUAG.L and HLQD.L.
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Drawdown Indicators
| SUAG.L | HLQD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.68% | -15.87% | -2.81% |
Max Drawdown (1Y)Largest decline over 1 year | -4.85% | -4.24% | -0.61% |
Max Drawdown (3Y)Largest decline over 3 years | -8.44% | -9.92% | +1.48% |
Max Drawdown (5Y)Largest decline over 5 years | -14.94% | -11.10% | -3.84% |
Max Drawdown (10Y)Largest decline over 10 years | -18.68% | — | — |
Current DrawdownCurrent decline from peak | -12.07% | -3.28% | -8.79% |
Average DrawdownAverage peak-to-trough decline | -8.22% | -4.62% | -3.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.08% | 1.56% | +0.52% |
Volatility
SUAG.L vs. HLQD.L - Volatility Comparison
iShares US Aggregate Bond UCITS ETF USD (Dist) (SUAG.L) has a higher volatility of 2.10% compared to iShares $ Corp Bond Interest Rate Hedged UCITS ETF (HLQD.L) at 1.93%. This indicates that SUAG.L's price experiences larger fluctuations and is considered to be riskier than HLQD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SUAG.L | HLQD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.10% | 1.93% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 4.49% | 5.24% | -0.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.01% | 6.96% | -0.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.44% | 8.75% | -0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.94% | 9.48% | -0.54% |
SUAG.L vs. HLQD.L - Expense Ratio Comparison
Both SUAG.L and HLQD.L have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
SUAG.L vs. HLQD.L - Dividend Comparison
SUAG.L's dividend yield for the trailing twelve months is around 3.96%, while HLQD.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HLQD.L iShares $ Corp Bond Interest Rate Hedged UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SUAG.L iShares US Aggregate Bond UCITS ETF USD (Dist) | 3.96% | 3.78% | 3.57% | 3.10% | 2.13% | 1.69% | 2.22% | 2.72% | 2.38% | 2.11% | 1.57% | 1.56% |
Frequently Asked Questions
SUAG.L and HLQD.L have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
SUAG.L and HLQD.L have the same expense ratio: 0.25% per year.
SUAG.L tracks iShares US Aggregate Bond UCITS ETF USD (Dist), while HLQD.L tracks iShares $ Corp Bond Interest Rate Hedged UCITS ETF.
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