V3GD.L vs. LQDH.L
V3GD.L (Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Distributing) and LQDH.L (iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist)) are both Global Corporate Bonds funds - V3GD.L tracks the Bloomberg Gbl Agg Corp 0901 TR Hdg USD while LQDH.L tracks the IBOXX US Dollar Liquid Investment Grade IR Hedged Index (USD). Both are passively managed. Over the past 5 years, V3GD.L returned 0.73%/yr vs 5.37%/yr for LQDH.L. At a 0.15 correlation, their price movements are largely independent. V3GD.L charges 0.15%/yr vs 0.25%/yr for LQDH.L.
Performance
V3GD.L vs. LQDH.L - Performance Comparison
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Returns By Period
In the year-to-date period, V3GD.L achieves a 0.21% return, which is significantly lower than LQDH.L's 2.46% return.
V3GD.L
- 1D
- 0.11%
- 1M
- -0.91%
- 6M
- 0.11%
- YTD
- 0.21%
- 1Y
- 3.39%
- 3Y*
- 5.37%
- 5Y*
- 0.73%
- 10Y*
- —
LQDH.L
- 1D
- 0.07%
- 1M
- -0.21%
- 6M
- 2.01%
- YTD
- 2.46%
- 1Y
- 4.61%
- 3Y*
- 7.42%
- 5Y*
- 5.37%
- 10Y*
- 4.41%
V3GD.L vs. LQDH.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
V3GD.L Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Distributing | 0.21% | 6.26% | 3.99% | 8.69% | -13.43% | 1.71% |
LQDH.L iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) | 2.46% | 4.93% | 8.27% | 11.54% | 0.28% | 0.30% |
Correlation
The correlation between V3GD.L and LQDH.L is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since May 20, 2021 | 0.15 |
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Return for Risk
V3GD.L vs. LQDH.L — Risk / Return Rank
V3GD.L
LQDH.L
V3GD.L vs. LQDH.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Distributing (V3GD.L) and iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) (LQDH.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.
| V3GD.L | LQDH.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.54 | ||
| Sortino ratioReturn per unit of downside risk | -0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.25 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.39 | 3.30 | -1.90 |
| Martin ratioReturn relative to average drawdown | 4.55 | 11.26 | -6.71 |
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Drawdowns
V3GD.L vs. LQDH.L - Drawdown Comparison
The maximum V3GD.L drawdown since its inception was -19.12%, smaller than the maximum LQDH.L drawdown of -23.77%. Use the drawdown chart below to compare losses from any high point for V3GD.L and LQDH.L.
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Drawdown Indicators
| V3GD.L | LQDH.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.12% | -23.77% | +4.65% |
Max Drawdown (1Y)Largest decline over 1 year | -2.58% | -1.39% | -1.19% |
Max Drawdown (3Y)Largest decline over 3 years | -3.60% | -2.81% | -0.79% |
Max Drawdown (5Y)Largest decline over 5 years | -19.12% | -6.42% | -12.70% |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.77% | — |
Current DrawdownCurrent decline from peak | -1.23% | -0.34% | -0.89% |
Average DrawdownAverage peak-to-trough decline | -6.21% | -1.46% | -4.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 0.41% | +0.38% |
Volatility
V3GD.L vs. LQDH.L - Volatility Comparison
Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Distributing (V3GD.L) has a higher volatility of 1.03% compared to iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) (LQDH.L) at 0.84%. This indicates that V3GD.L's price experiences larger fluctuations and is considered to be riskier than LQDH.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| V3GD.L | LQDH.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 0.84% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 3.20% | 2.19% | +1.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.98% | 3.18% | +0.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.70% | 4.87% | +0.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.64% | 6.41% | -0.77% |
V3GD.L vs. LQDH.L - Expense Ratio Comparison
V3GD.L has a 0.15% expense ratio, which is lower than LQDH.L's 0.25% 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
V3GD.L vs. LQDH.L - Dividend Comparison
V3GD.L's dividend yield for the trailing twelve months is around 4.31%, which matches LQDH.L's 4.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LQDH.L iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) | 4.33% | 4.66% | 5.52% | 4.83% | 2.07% | 1.55% | 2.45% | 3.52% | 2.87% | 2.14% | 2.46% | 3.25% |
V3GD.L Vanguard ESG Global Corporate Bond UCITS ETF USD Hedged Distributing | 4.31% | 4.45% | 4.35% | 4.06% | 2.44% | 0.70% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
V3GD.L and LQDH.L have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, V3GD.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
V3GD.L is cheaper with a 0.15% expense ratio, compared with 0.25% for LQDH.L.
V3GD.L tracks Bloomberg Gbl Agg Corp 0901 TR Hdg USD, while LQDH.L tracks IBOXX US Dollar Liquid Investment Grade IR Hedged Index (USD). They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.15% for V3GD.L and 0.25% for LQDH.L.
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