SUOG.L vs. UKCO.L
SUOG.L (iShares EUR Corporate Bond ESG SRI UCITS ETF GBP Hedged (Dist)) and UKCO.L (SPDR Bloomberg Sterling Corporate Bond UCITS ETF) are both European Corporate Bonds funds - SUOG.L tracks the Bloomberg MSCI Euro Corporate ESG SRI Index while UKCO.L tracks the Markit iBoxx GBP NonGilts TR. Both are passively managed. Over the past 5 years, SUOG.L returned 1.27%/yr vs -1.17%/yr for UKCO.L. A 0.58 correlation means they provide meaningful diversification when combined. SUOG.L charges 0.16%/yr vs 0.20%/yr for UKCO.L.
Performance
SUOG.L vs. UKCO.L - Performance Comparison
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Returns By Period
In the year-to-date period, SUOG.L achieves a 1.37% return, which is significantly higher than UKCO.L's -0.09% return.
SUOG.L
- 1D
- 0.00%
- 1M
- -0.41%
- 6M
- 0.96%
- YTD
- 1.37%
- 1Y
- 3.25%
- 3Y*
- 5.85%
- 5Y*
- 1.27%
- 10Y*
- —
UKCO.L
- 1D
- 0.18%
- 1M
- -0.97%
- 6M
- -1.05%
- YTD
- -0.09%
- 1Y
- 3.80%
- 3Y*
- 5.89%
- 5Y*
- -1.17%
- 10Y*
- 1.28%
SUOG.L vs. UKCO.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SUOG.L iShares EUR Corporate Bond ESG SRI UCITS ETF GBP Hedged (Dist) | 1.37% | 5.20% | 5.41% | 8.90% | -12.32% | -0.54% | 2.78% | -0.07% |
UKCO.L SPDR Bloomberg Sterling Corporate Bond UCITS ETF | -0.09% | 6.81% | 1.66% | 8.84% | -19.34% | -3.36% | 8.76% | 1.44% |
Correlation
The correlation between SUOG.L and UKCO.L is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Jul 30, 2019 | 0.58 |
The correlation between SUOG.L and UKCO.L has been stable across timeframes, ranging from 0.56 to 0.62 - a consistent structural relationship.
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Return for Risk
SUOG.L vs. UKCO.L — Risk / Return Rank
SUOG.L
UKCO.L
SUOG.L vs. UKCO.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares EUR Corporate Bond ESG SRI UCITS ETF GBP Hedged (Dist) (SUOG.L) and SPDR Bloomberg Sterling Corporate Bond UCITS ETF (UKCO.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.
| SUOG.L | UKCO.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.12 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.33 | 0.90 | +0.43 |
| Martin ratioReturn relative to average drawdown | 4.95 | 2.52 | +2.44 |
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Drawdowns
SUOG.L vs. UKCO.L - Drawdown Comparison
The maximum SUOG.L drawdown since its inception was -16.15%, smaller than the maximum UKCO.L drawdown of -30.78%. Use the drawdown chart below to compare losses from any high point for SUOG.L and UKCO.L.
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Drawdown Indicators
| SUOG.L | UKCO.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.15% | -30.78% | +14.63% |
Max Drawdown (1Y)Largest decline over 1 year | -2.43% | -4.19% | +1.76% |
Max Drawdown (3Y)Largest decline over 3 years | -2.43% | -4.19% | +1.76% |
Max Drawdown (5Y)Largest decline over 5 years | -16.15% | -29.89% | +13.74% |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.78% | — |
Current DrawdownCurrent decline from peak | -0.82% | -8.24% | +7.42% |
Average DrawdownAverage peak-to-trough decline | -4.07% | -6.38% | +2.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 1.51% | -0.86% |
Volatility
SUOG.L vs. UKCO.L - Volatility Comparison
The current volatility for iShares EUR Corporate Bond ESG SRI UCITS ETF GBP Hedged (Dist) (SUOG.L) is 0.91%, while SPDR Bloomberg Sterling Corporate Bond UCITS ETF (UKCO.L) has a volatility of 1.53%. This indicates that SUOG.L experiences smaller price fluctuations and is considered to be less risky than UKCO.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SUOG.L | UKCO.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.91% | 1.53% | -0.62% |
Volatility (6M)Calculated over the trailing 6-month period | 2.85% | 4.93% | -2.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.48% | 5.76% | -2.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.67% | 7.83% | -3.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.40% | 8.22% | -2.82% |
SUOG.L vs. UKCO.L - Expense Ratio Comparison
SUOG.L has a 0.16% expense ratio, which is lower than UKCO.L's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SUOG.L vs. UKCO.L - Dividend Comparison
SUOG.L's dividend yield for the trailing twelve months is around 3.22%, less than UKCO.L's 4.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SUOG.L iShares EUR Corporate Bond ESG SRI UCITS ETF GBP Hedged (Dist) | 3.22% | 3.19% | 3.12% | 2.48% | 0.81% | 0.44% | 0.55% | 0.13% | 0.00% | 0.00% | 0.00% | 0.00% |
UKCO.L SPDR Bloomberg Sterling Corporate Bond UCITS ETF | 4.61% | 4.39% | 4.11% | 3.30% | 2.79% | 2.28% | 2.40% | 2.51% | 2.69% | 3.09% | 3.17% | 3.50% |
Frequently Asked Questions
SUOG.L and UKCO.L have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SUOG.L is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SUOG.L is cheaper with a 0.16% expense ratio, compared with 0.20% for UKCO.L.
SUOG.L tracks Bloomberg MSCI Euro Corporate ESG SRI Index, while UKCO.L tracks Markit iBoxx GBP NonGilts TR. They also come from different issuers: iShares and State Street. Their fees differ too: 0.16% for SUOG.L and 0.20% for UKCO.L.
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