USDC.L vs. FLOT.L
USDC.L (L&G USD Corporate Bond Screened UCITS ETF USD (Dist)) and FLOT.L (iShares $ Floating Rate Bond UCITS ETF USD (Dist)) are both exchange-traded funds - USDC.L is a Corporate Bonds fund tracking the J.P. Morgan Global Credit Index ESG Investment Grade USD Custom Maturity Index, while FLOT.L is a Ultra Short-Term Bonds fund tracking the Bloomberg US Floating Rate Note <5 Years Index. Both are passively managed. Over the past 5 years, USDC.L returned 0.14%/yr vs 4.33%/yr for FLOT.L. At a correlation of -0.02, they often move in opposite directions. USDC.L charges 0.09%/yr vs 0.10%/yr for FLOT.L.
Performance
USDC.L vs. FLOT.L - Performance Comparison
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Returns By Period
In the year-to-date period, USDC.L achieves a -2.06% return, which is significantly lower than FLOT.L's 2.38% return.
USDC.L
- 1D
- 0.12%
- 1M
- -0.49%
- 6M
- 0.54%
- YTD
- -2.06%
- 1Y
- 1.96%
- 3Y*
- 4.31%
- 5Y*
- 0.14%
- 10Y*
- —
FLOT.L
- 1D
- 0.00%
- 1M
- 0.40%
- 6M
- 2.18%
- YTD
- 2.38%
- 1Y
- 4.77%
- 3Y*
- 5.63%
- 5Y*
- 4.33%
- 10Y*
- —
USDC.L vs. FLOT.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
USDC.L L&G USD Corporate Bond Screened UCITS ETF USD (Dist) | -2.06% | 7.42% | 3.13% | 8.35% | -13.91% | -0.43% |
FLOT.L iShares $ Floating Rate Bond UCITS ETF USD (Dist) | 2.38% | 5.19% | 6.39% | 6.04% | 1.87% | 0.20% |
Correlation
The correlation between USDC.L and FLOT.L is 0.02, 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 | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Jan 15, 2021 | -0.02 |
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Return for Risk
USDC.L vs. FLOT.L — Risk / Return Rank
USDC.L
FLOT.L
USDC.L vs. FLOT.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G USD Corporate Bond Screened UCITS ETF USD (Dist) (USDC.L) and iShares $ Floating Rate Bond UCITS ETF USD (Dist) (FLOT.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.
| USDC.L | FLOT.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.11 | ||
| Sortino ratioReturn per unit of downside risk | -3.45 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.64 | -0.57 |
| Calmar ratioReturn relative to maximum drawdown | 0.40 | 23.83 | -23.43 |
| Martin ratioReturn relative to average drawdown | 0.92 | 44.39 | -43.47 |
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Drawdowns
USDC.L vs. FLOT.L - Drawdown Comparison
The maximum USDC.L drawdown since its inception was -20.07%, which is greater than FLOT.L's maximum drawdown of -14.03%. Use the drawdown chart below to compare losses from any high point for USDC.L and FLOT.L.
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Drawdown Indicators
| USDC.L | FLOT.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.07% | -14.03% | -6.04% |
Max Drawdown (1Y)Largest decline over 1 year | -4.92% | -0.20% | -4.72% |
Max Drawdown (3Y)Largest decline over 3 years | -4.92% | -2.53% | -2.39% |
Max Drawdown (5Y)Largest decline over 5 years | -20.07% | -2.53% | -17.54% |
Current DrawdownCurrent decline from peak | -2.83% | 0.00% | -2.83% |
Average DrawdownAverage peak-to-trough decline | -6.75% | -0.22% | -6.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.13% | 0.11% | +2.02% |
Volatility
USDC.L vs. FLOT.L - Volatility Comparison
L&G USD Corporate Bond Screened UCITS ETF USD (Dist) (USDC.L) has a higher volatility of 1.11% compared to iShares $ Floating Rate Bond UCITS ETF USD (Dist) (FLOT.L) at 0.61%. This indicates that USDC.L's price experiences larger fluctuations and is considered to be riskier than FLOT.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USDC.L | FLOT.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.11% | 0.61% | +0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 3.79% | 1.46% | +2.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.88% | 1.94% | +3.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.28% | 2.90% | +3.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.12% | 3.92% | +2.20% |
USDC.L vs. FLOT.L - Expense Ratio Comparison
USDC.L has a 0.09% expense ratio, which is lower than FLOT.L's 0.10% 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
USDC.L vs. FLOT.L - Dividend Comparison
USDC.L's dividend yield for the trailing twelve months is around 2.44%, less than FLOT.L's 4.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FLOT.L iShares $ Floating Rate Bond UCITS ETF USD (Dist) | 4.68% | 5.02% | 6.05% | 5.50% | 1.45% | 0.60% | 1.59% | 2.91% | 2.21% | 0.46% |
USDC.L L&G USD Corporate Bond Screened UCITS ETF USD (Dist) | 2.44% | 4.47% | 4.08% | 3.24% | 2.36% | 0.78% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
USDC.L and FLOT.L have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, USDC.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
USDC.L is cheaper with a 0.09% expense ratio, compared with 0.10% for FLOT.L.
USDC.L is categorized as Corporate Bonds, while FLOT.L is Ultra Short-Term Bonds. USDC.L tracks J.P. Morgan Global Credit Index ESG Investment Grade USD Custom Maturity Index, while FLOT.L tracks Bloomberg US Floating Rate Note <5 Years Index. They also come from different issuers: L&G and iShares. Their fees differ too: 0.09% for USDC.L and 0.10% for FLOT.L.
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