USDG.L vs. FLO5.L
USDG.L (L&G ESG USD Corporate Bond UCITS ETF) and FLO5.L (iShares USD Floating Rate Bond UCITS ETF) are both Corporate Bonds funds tracking the Bloomberg US Corp Bond TR USD, from Legal & General and iShares respectively. Both are passively managed. Over the past 5 years, USDG.L returned 2.06%/yr vs 1.22%/yr for FLO5.L. A 0.69 correlation means they provide meaningful diversification when combined. USDG.L charges 0.09%/yr vs 0.10%/yr for FLO5.L.
Performance
USDG.L vs. FLO5.L - Performance Comparison
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Returns By Period
In the year-to-date period, USDG.L achieves a 0.73% return, which is significantly higher than FLO5.L's -0.05% return.
USDG.L
- 1D
- 0.34%
- 1M
- 1.26%
- YTD
- 0.73%
- 6M
- 0.27%
- 1Y
- 6.86%
- 3Y*
- 2.83%
- 5Y*
- 2.06%
- 10Y*
- —
FLO5.L
- 1D
- 0.03%
- 1M
- -0.53%
- YTD
- -0.05%
- 6M
- -0.76%
- 1Y
- 1.46%
- 3Y*
- -2.38%
- 5Y*
- 1.22%
- 10Y*
- —
USDG.L vs. FLO5.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
USDG.L L&G ESG USD Corporate Bond UCITS ETF | 0.73% | 0.15% | 4.75% | 2.41% | -3.62% | 1.57% |
FLO5.L iShares USD Floating Rate Bond UCITS ETF | -0.05% | -6.83% | 1.88% | -4.56% | 11.92% | 1.43% |
Correlation
The correlation between USDG.L and FLO5.L is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Jan 22, 2021 | 0.69 |
The correlation between USDG.L and FLO5.L has been stable across timeframes, ranging from 0.65 to 0.69 - a consistent structural relationship.
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Return for Risk
USDG.L vs. FLO5.L — Risk / Return Rank
USDG.L
FLO5.L
USDG.L vs. FLO5.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G ESG USD Corporate Bond UCITS ETF (USDG.L) and iShares USD Floating Rate Bond UCITS ETF (FLO5.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.
| USDG.L | FLO5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.66 | ||
| Sortino ratioReturn per unit of downside risk | +0.96 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.04 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.44 | 0.19 | +1.25 |
| Martin ratioReturn relative to average drawdown | 3.32 | 0.38 | +2.95 |
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
| USDG.L | FLO5.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.83 | 0.17 | +0.66 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | 0.13 | +0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.13 | 0.02 | +0.11 |
Drawdowns
USDG.L vs. FLO5.L - Drawdown Comparison
The maximum USDG.L drawdown since its inception was -12.80%, smaller than the maximum FLO5.L drawdown of -20.77%. Use the drawdown chart below to compare losses from any high point for USDG.L and FLO5.L.
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Drawdown Indicators
| USDG.L | FLO5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.80% | -20.77% | +7.97% |
Max Drawdown (1Y)Largest decline over 1 year | -4.53% | -6.65% | +2.12% |
Max Drawdown (3Y)Largest decline over 3 years | -8.61% | -13.32% | +4.71% |
Max Drawdown (5Y)Largest decline over 5 years | -12.80% | -20.77% | +7.97% |
Current DrawdownCurrent decline from peak | -2.29% | -19.14% | +16.85% |
Average DrawdownAverage peak-to-trough decline | -5.01% | -9.77% | +4.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 3.30% | -1.33% |
Volatility
USDG.L vs. FLO5.L - Volatility Comparison
The current volatility for L&G ESG USD Corporate Bond UCITS ETF (USDG.L) is 1.98%, while iShares USD Floating Rate Bond UCITS ETF (FLO5.L) has a volatility of 2.80%. This indicates that USDG.L experiences smaller price fluctuations and is considered to be less risky than FLO5.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USDG.L | FLO5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.98% | 2.80% | -0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 6.75% | 5.01% | +1.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.88% | 7.27% | +0.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.67% | 9.03% | -0.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.64% | 9.16% | -0.52% |
USDG.L vs. FLO5.L - Expense Ratio Comparison
USDG.L has a 0.09% expense ratio, which is lower than FLO5.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
USDG.L vs. FLO5.L - Dividend Comparison
USDG.L's dividend yield for the trailing twelve months is around 4.67%, more than FLO5.L's 0.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FLO5.L iShares USD Floating Rate Bond UCITS ETF | 0.05% | 0.05% | 0.06% | 0.06% | 0.01% | 0.01% | 0.02% | 0.03% | 0.02% | 0.00% |
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% |
Frequently Asked Questions
USDG.L and FLO5.L have a correlation of 0.66, 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 0.10% for FLO5.L.
Both ETFs track Bloomberg US Corp Bond TR USD. They also come from different issuers: Legal & General and iShares. Their fees differ too: 0.09% for USDG.L and 0.10% for FLO5.L.
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