USDG.L vs. LDCU.L

Last updated Jun 5, 2026

USDG.L (L&G ESG USD Corporate Bond UCITS ETF) and LDCU.L (PIMCO US Low Duration Corporate Bond UCITS ETF Dist) are both Corporate Bonds funds - USDG.L tracks the Bloomberg US Corp Bond TR USD while LDCU.L tracks the Bloomberg US Corp 1-3 Yr TR USD. Both are passively managed. Over the past 5 years, USDG.L returned 2.06%/yr vs 3.38%/yr for LDCU.L. A 0.65 correlation means they provide meaningful diversification when combined. USDG.L charges 0.09%/yr vs 0.49%/yr for LDCU.L.

Performance

USDG.L vs. LDCU.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 PIMCO US Low Duration Corporate Bond UCITS ETF Dist (LDCU.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

USDG.L is traded in GBp, while LDCU.L is traded in USD. To make them comparable, the LDCU.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 0.73% return, which is significantly lower than LDCU.L's 0.86% 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*: —

LDCU.L

• 1D: 0.12%
• 1M: 1.34%
• YTD: 0.86%
• 6M: -0.01%
• 1Y: 5.27%
• 3Y*: 2.73%
• 5Y*: 3.38%
• 10Y*: 3.69%

*Multi-year figures are annualized to reflect compound growth (CAGR)

USDG.L vs. LDCU.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%
LDCU.L PIMCO US Low Duration Corporate Bond UCITS ETF Dist	0.86%	-1.05%	7.08%	0.91%	5.85%	1.12%

Correlation

The correlation between USDG.L and LDCU.L is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (All Time) Calculated using the full available price history since Jan 22, 2021	0.65

The correlation between USDG.L and LDCU.L shifts across timeframes, from 0.55 (1 year) to 0.65 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

USDG.L vs. LDCU.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: 26
USDG.L Sharpe Ratio Rank: 24
USDG.L Sortino Ratio Rank: 24
USDG.L Omega Ratio Rank: 26
USDG.L Calmar Ratio Rank: 30
USDG.L Martin Ratio Rank: 26

LDCU.L

LDCU.L Risk / Return Rank: 42
LDCU.L Sharpe Ratio Rank: 40
LDCU.L Sortino Ratio Rank: 44
LDCU.L Omega Ratio Rank: 39
LDCU.L Calmar Ratio Rank: 41
LDCU.L Martin Ratio Rank: 45

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. LDCU.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 PIMCO US Low Duration Corporate Bond UCITS ETF Dist (LDCU.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	LDCU.L	Difference
Sharpe ratio: Return per unit of total volatility	0.83	0.75	+0.07
Sortino ratio: Return per unit of downside risk	1.24	1.10	+0.14
Omega ratio: Gain probability vs. loss probability	1.17	1.14	+0.03
Calmar ratio: Return relative to maximum drawdown	1.44	1.02	+0.42
Martin ratio: Return relative to average drawdown	3.32	2.74	+0.59
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. LDCU.L - Sharpe Ratio Comparison

The current USDG.L Sharpe Ratio is 0.83, which is comparable to the LDCU.L Sharpe Ratio of 0.75. The chart below compares the historical Sharpe Ratios of USDG.L and LDCU.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	USDG.L	LDCU.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.83	0.75	+0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	0.41	-0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.39	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	0.45	-0.33

Drawdowns

USDG.L vs. LDCU.L - Drawdown Comparison

The maximum USDG.L drawdown since its inception was -12.80%, smaller than the maximum LDCU.L drawdown of -14.74%. Use the drawdown chart below to compare losses from any high point for USDG.L and LDCU.L.

Drawdown Indicators

	USDG.L	LDCU.L	Difference
Max Drawdown Largest peak-to-trough decline	-12.80%	-14.74%	+1.94%
Max Drawdown (1Y) Largest decline over 1 year	-4.53%	-5.04%	+0.51%
Max Drawdown (3Y) Largest decline over 3 years	-8.61%	-8.21%	-0.40%
Max Drawdown (5Y) Largest decline over 5 years	-12.80%	-14.74%	+1.94%
Max Drawdown (10Y) Largest decline over 10 years	—	-14.74%	—
Current Drawdown Current decline from peak	-2.29%	-3.01%	+0.72%
Average Drawdown Average peak-to-trough decline	-5.01%	-5.64%	+0.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	1.89%	+0.08%

Volatility

USDG.L vs. LDCU.L - Volatility Comparison

L&G ESG USD Corporate Bond UCITS ETF (USDG.L) has a higher volatility of 1.98% compared to PIMCO US Low Duration Corporate Bond UCITS ETF Dist (LDCU.L) at 1.73%. This indicates that USDG.L's price experiences larger fluctuations and is considered to be riskier than LDCU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USDG.L	LDCU.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.98%	1.73%	+0.25%
Volatility (6M) Calculated over the trailing 6-month period	6.75%	5.21%	+1.54%
Volatility (1Y) Calculated over the trailing 1-year period	7.88%	6.85%	+1.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.67%	8.25%	+0.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.64%	9.39%	-0.75%

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

USDG.L has a 0.09% expense ratio, which is lower than LDCU.L's 0.49% expense ratio.

Dividends

USDG.L vs. LDCU.L - Dividend Comparison

USDG.L's dividend yield for the trailing twelve months is around 4.67%, more than LDCU.L's 4.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LDCU.L PIMCO US Low Duration Corporate Bond UCITS ETF Dist	4.48%	4.42%	4.40%	3.45%	1.93%	1.77%	2.17%	2.96%	2.75%	2.26%	2.37%	2.13%
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%	0.00%	0.00%

Frequently Asked Questions

Can I hold both USDG.L and LDCU.L in my portfolio?

USDG.L and LDCU.L have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, USDG.L or LDCU.L?

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.

Which ETF is cheaper, USDG.L or LDCU.L?

USDG.L is cheaper with a 0.09% expense ratio, compared with 0.49% for LDCU.L.

What is the main difference between USDG.L and LDCU.L?

USDG.L tracks Bloomberg US Corp Bond TR USD, while LDCU.L tracks Bloomberg US Corp 1-3 Yr TR USD. They also come from different issuers: Legal & General and PIMCO. Their fees differ too: 0.09% for USDG.L and 0.49% for LDCU.L.