UKCO.L vs. SUOG.L
UKCO.L (SPDR Bloomberg Sterling Corporate Bond UCITS ETF) and SUOG.L (iShares EUR Corporate Bond ESG SRI UCITS ETF GBP Hedged (Dist)) are both European Corporate Bonds funds - UKCO.L tracks the Markit iBoxx GBP NonGilts TR while SUOG.L tracks the Bloomberg MSCI Euro Corporate ESG SRI Index. Both are passively managed. Over the past 5 years, UKCO.L returned -1.17%/yr vs 1.27%/yr for SUOG.L. A 0.58 correlation means they provide meaningful diversification when combined. UKCO.L charges 0.20%/yr vs 0.16%/yr for SUOG.L.
Performance
UKCO.L vs. SUOG.L - Performance Comparison
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Returns By Period
In the year-to-date period, UKCO.L achieves a -0.09% return, which is significantly lower than SUOG.L's 1.37% return.
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
- 1D
- 0.00%
- 1M
- -0.41%
- 6M
- 0.96%
- YTD
- 1.37%
- 1Y
- 3.25%
- 3Y*
- 5.85%
- 5Y*
- 1.27%
- 10Y*
- —
UKCO.L vs. SUOG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
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% |
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% |
Correlation
The correlation between UKCO.L and SUOG.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 UKCO.L and SUOG.L has been stable across timeframes, ranging from 0.56 to 0.62 - a consistent structural relationship.
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Return for Risk
UKCO.L vs. SUOG.L — Risk / Return Rank
UKCO.L
SUOG.L
UKCO.L vs. SUOG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Sterling Corporate Bond UCITS ETF (UKCO.L) and iShares EUR Corporate Bond ESG SRI UCITS ETF GBP Hedged (Dist) (SUOG.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.
| UKCO.L | SUOG.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 | 1.12 | 1.19 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.90 | 1.33 | -0.43 |
| Martin ratioReturn relative to average drawdown | 2.52 | 4.95 | -2.44 |
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Drawdowns
UKCO.L vs. SUOG.L - Drawdown Comparison
The maximum UKCO.L drawdown since its inception was -30.78%, which is greater than SUOG.L's maximum drawdown of -16.15%. Use the drawdown chart below to compare losses from any high point for UKCO.L and SUOG.L.
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Drawdown Indicators
| UKCO.L | SUOG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.78% | -16.15% | -14.63% |
Max Drawdown (1Y)Largest decline over 1 year | -4.19% | -2.43% | -1.76% |
Max Drawdown (3Y)Largest decline over 3 years | -4.19% | -2.43% | -1.76% |
Max Drawdown (5Y)Largest decline over 5 years | -29.89% | -16.15% | -13.74% |
Max Drawdown (10Y)Largest decline over 10 years | -30.78% | — | — |
Current DrawdownCurrent decline from peak | -8.24% | -0.82% | -7.42% |
Average DrawdownAverage peak-to-trough decline | -6.38% | -4.07% | -2.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.51% | 0.65% | +0.86% |
Volatility
UKCO.L vs. SUOG.L - Volatility Comparison
SPDR Bloomberg Sterling Corporate Bond UCITS ETF (UKCO.L) has a higher volatility of 1.53% compared to iShares EUR Corporate Bond ESG SRI UCITS ETF GBP Hedged (Dist) (SUOG.L) at 0.91%. This indicates that UKCO.L's price experiences larger fluctuations and is considered to be riskier than SUOG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UKCO.L | SUOG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.53% | 0.91% | +0.62% |
Volatility (6M)Calculated over the trailing 6-month period | 4.93% | 2.85% | +2.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.76% | 3.48% | +2.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.83% | 4.67% | +3.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.22% | 5.40% | +2.82% |
UKCO.L vs. SUOG.L - Expense Ratio Comparison
UKCO.L has a 0.20% expense ratio, which is higher than SUOG.L's 0.16% 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
UKCO.L vs. SUOG.L - Dividend Comparison
UKCO.L's dividend yield for the trailing twelve months is around 4.61%, more than SUOG.L's 3.22% 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
UKCO.L and SUOG.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.
UKCO.L tracks Markit iBoxx GBP NonGilts TR, while SUOG.L tracks Bloomberg MSCI Euro Corporate ESG SRI Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.20% for UKCO.L and 0.16% for SUOG.L.
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