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USDG.L vs. ICBU.L
Performance
Return for Risk
Dividends
Drawdowns
Volatility

USDG.L vs. ICBU.L

Last updated Apr 2, 2026

Compare and contrast key facts about L&G ESG USD Corporate Bond UCITS ETF (USDG.L) and iShares USD Intermediate Credit Bond UCITS ETF (ICBU.L).

USDG.L and ICBU.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. USDG.L is a passively managed fund by Legal & General that tracks the performance of the Bloomberg US Corp Bond TR USD. It was launched on Jan 15, 2021. ICBU.L is a passively managed fund by iShares that tracks the performance of the Bloomberg US Corp Bond TR USD. It was launched on Apr 25, 2017. Both USDG.L and ICBU.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

USDG.L vs. ICBU.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in L&G ESG USD Corporate Bond UCITS ETF (USDG.L) and iShares USD Intermediate Credit Bond UCITS ETF (ICBU.L). The values are adjusted to include any dividend payments, if applicable.

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USDG.L vs. ICBU.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021
USDG.L
L&G ESG USD Corporate Bond UCITS ETF		0.87%0.15%4.75%2.41%-3.62%1.57%
ICBU.L
iShares USD Intermediate Credit Bond UCITS ETF		1.43%-0.07%5.90%1.41%1.77%0.52%
Different Trading Currencies

USDG.L is traded in GBp, while ICBU.L is traded in USD. To make them comparable, the ICBU.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, USDG.L achieves a 0.87% return, which is significantly lower than ICBU.L's 1.43% return.

USDG.L

1D
-0.35%
1M
-0.49%
YTD
0.87%
6M
2.09%
1Y
1.85%
3Y*
2.64%
5Y*
1.86%
10Y*
—

ICBU.L

1D
0.10%
1M
0.20%
YTD
1.43%
6M
2.60%
1Y
2.44%
3Y*
2.82%
5Y*
2.67%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

L&G ESG USD Corporate Bond UCITS ETF

iShares USD Intermediate Credit Bond UCITS ETF

Often compared with USDG.L:
USDG.L vs. XYLD.LUSDG.L vs. IGSD.LUSDG.L vs. LQDE.LUSDG.L vs. VSCA.LUSDG.L vs. ROBG.LUSDG.L vs. VDPA.LUSDG.L vs. SUSU.L
Often compared with ICBU.L:
ICBU.L vs. GVIICBU.L vs. SPYICBU.L vs. PRIP.LICBU.L vs. XYLD.LICBU.L vs. SUSD.LICBU.L vs. SUSU.LICBU.L vs. ERNA.L

USDG.L vs. ICBU.L - Expense Ratio Comparison

USDG.L has a 0.09% expense ratio, which is lower than ICBU.L's 0.15% 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%.

ICBU.L
iShares USD Intermediate Credit Bond UCITS ETF
USDG.L
L&G ESG USD Corporate Bond UCITS ETF

Return for Risk

USDG.L vs. ICBU.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
USDG.L
USDG.L Risk / Return Rank: 1616
Overall Rank
USDG.L Sharpe Ratio Rank: 1616
Sharpe Ratio Rank
USDG.L Sortino Ratio Rank: 1515
Sortino Ratio Rank
USDG.L Omega Ratio Rank: 1515
Omega Ratio Rank
USDG.L Calmar Ratio Rank: 1818
Calmar Ratio Rank
USDG.L Martin Ratio Rank: 1616
Martin Ratio Rank
ICBU.L
ICBU.L Risk / Return Rank: 7070
Overall Rank
ICBU.L Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
ICBU.L Sortino Ratio Rank: 6767
Sortino Ratio Rank
ICBU.L Omega Ratio Rank: 7373
Omega Ratio Rank
ICBU.L Calmar Ratio Rank: 6666
Calmar Ratio Rank
ICBU.L Martin Ratio Rank: 7676
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

USDG.L vs. ICBU.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 Intermediate Credit Bond UCITS ETF (ICBU.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.LICBU.LDifference

Sharpe ratio

Return per unit of total volatility

0.21

0.33

-0.12

Sortino ratio

Return per unit of downside risk

0.35

0.49

-0.14

Omega ratio

Gain probability vs. loss probability

1.05

1.06

-0.02

Calmar ratio

Return relative to maximum drawdown

0.37

0.54

-0.17

Martin ratio

Return relative to average drawdown

0.75

1.05

-0.30

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USDG.L vs. ICBU.L - Sharpe Ratio Comparison

The current USDG.L Sharpe Ratio is 0.21, which is lower than the ICBU.L Sharpe Ratio of 0.33. The chart below compares the historical Sharpe Ratios of USDG.L and ICBU.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

USDG.LICBU.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.21

0.33

-0.12

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.21

0.32

-0.11

Sharpe Ratio (All Time)

Calculated using the full available price history

0.13

0.27

-0.14

Correlation

The correlation between USDG.L and ICBU.L is 0.72, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

USDG.L vs. ICBU.L - Dividend Comparison

USDG.L's dividend yield for the trailing twelve months is around 4.67%, more than ICBU.L's 4.45% yield.

TTM202520242023202220212020201920182017
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%
ICBU.L
iShares USD Intermediate Credit Bond UCITS ETF		4.45%4.21%3.78%2.77%1.93%1.93%2.78%2.93%2.65%0.44%

Drawdowns

USDG.L vs. ICBU.L - Drawdown Comparison

The maximum USDG.L drawdown since its inception was -12.80%, smaller than the maximum ICBU.L drawdown of -14.48%. Use the drawdown chart below to compare losses from any high point for USDG.L and ICBU.L.

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Drawdown Indicators

USDG.LICBU.LDifference

Max Drawdown

Largest peak-to-trough decline

-12.80%

-13.92%

+1.12%

Max Drawdown (1Y)

Largest decline over 1 year

-6.09%

-2.66%

-3.43%

Max Drawdown (5Y)

Largest decline over 5 years

-12.80%

-13.92%

+1.12%

Current Drawdown

Current decline from peak

-2.15%

-1.32%

-0.83%

Average Drawdown

Average peak-to-trough decline

-5.07%

-2.82%

-2.25%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.99%

0.56%

+2.43%

Volatility

USDG.L vs. ICBU.L - Volatility Comparison

L&G ESG USD Corporate Bond UCITS ETF (USDG.L) has a higher volatility of 5.30% compared to iShares USD Intermediate Credit Bond UCITS ETF (ICBU.L) at 2.89%. This indicates that USDG.L's price experiences larger fluctuations and is considered to be riskier than ICBU.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.LICBU.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.30%

2.89%

+2.41%

Volatility (6M)

Calculated over the trailing 6-month period

6.64%

5.08%

+1.56%

Volatility (1Y)

Calculated over the trailing 1-year period

8.80%

7.43%

+1.37%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

8.73%

8.37%

+0.36%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

8.70%

8.67%

+0.03%