V3GS.L vs. LQEE.L
V3GS.L (Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Accumulating) and LQEE.L (iShares $ Corp Bond UCITS ETF EUR Hedged (Dist)) are both Global Corporate Bonds funds - V3GS.L tracks the Bloomberg Gbl Agg Corp TR Hdg GBP while LQEE.L tracks the IBOXX US Dollar Liquid Investment Grade Index (USD). Both are passively managed. Over the past 5 years, V3GS.L returned 3.42%/yr vs -2.99%/yr for LQEE.L. A 0.67 correlation means they provide meaningful diversification when combined. V3GS.L charges 0.15%/yr vs 0.25%/yr for LQEE.L.
Performance
V3GS.L vs. LQEE.L - Performance Comparison
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Different Trading Currencies
V3GS.L is traded in GBP, while LQEE.L is traded in EUR. To make them comparable, the LQEE.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, V3GS.L achieves a 1.17% return, which is significantly higher than LQEE.L's -4.05% return.
V3GS.L
- 1D
- 0.19%
- 1M
- -0.58%
- 6M
- 0.97%
- YTD
- 1.17%
- 1Y
- 6.30%
- 3Y*
- 8.80%
- 5Y*
- 3.42%
- 10Y*
- —
LQEE.L
- 1D
- 0.40%
- 1M
- -2.72%
- 6M
- -3.27%
- YTD
- -4.05%
- 1Y
- 0.44%
- 3Y*
- 1.82%
- 5Y*
- -2.99%
- 10Y*
- —
V3GS.L vs. LQEE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
V3GS.L Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Accumulating | 1.17% | 10.46% | 7.79% | 12.25% | -12.52% | 2.21% |
LQEE.L iShares $ Corp Bond UCITS ETF EUR Hedged (Dist) | -4.05% | 11.37% | -5.20% | 4.03% | -15.88% | -0.08% |
Correlation
The correlation between V3GS.L and LQEE.L is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since May 20, 2021 | 0.67 |
The correlation between V3GS.L and LQEE.L has been stable across timeframes, ranging from 0.67 to 0.68 - a consistent structural relationship.
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Return for Risk
V3GS.L vs. LQEE.L — Risk / Return Rank
V3GS.L
LQEE.L
V3GS.L vs. LQEE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Accumulating (V3GS.L) and iShares $ Corp Bond UCITS ETF EUR Hedged (Dist) (LQEE.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.
| V3GS.L | LQEE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.50 | ||
| Sortino ratioReturn per unit of downside risk | +2.18 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.02 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 2.94 | 0.07 | +2.87 |
| Martin ratioReturn relative to average drawdown | 9.69 | 0.17 | +9.52 |
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Drawdowns
V3GS.L vs. LQEE.L - Drawdown Comparison
The maximum V3GS.L drawdown since its inception was -18.23%, smaller than the maximum LQEE.L drawdown of -30.35%. Use the drawdown chart below to compare losses from any high point for V3GS.L and LQEE.L.
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Drawdown Indicators
| V3GS.L | LQEE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.23% | -30.35% | +12.12% |
Max Drawdown (1Y)Largest decline over 1 year | -2.14% | -6.34% | +4.20% |
Max Drawdown (3Y)Largest decline over 3 years | -2.73% | -8.18% | +5.45% |
Max Drawdown (5Y)Largest decline over 5 years | -18.23% | -25.78% | +7.55% |
Current DrawdownCurrent decline from peak | -0.96% | -20.34% | +19.38% |
Average DrawdownAverage peak-to-trough decline | -4.49% | -14.04% | +9.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 2.62% | -1.97% |
Volatility
V3GS.L vs. LQEE.L - Volatility Comparison
The current volatility for Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Accumulating (V3GS.L) is 1.11%, while iShares $ Corp Bond UCITS ETF EUR Hedged (Dist) (LQEE.L) has a volatility of 1.88%. This indicates that V3GS.L experiences smaller price fluctuations and is considered to be less risky than LQEE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| V3GS.L | LQEE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.11% | 1.88% | -0.77% |
Volatility (6M)Calculated over the trailing 6-month period | 3.07% | 5.09% | -2.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.02% | 7.12% | -3.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.84% | 9.67% | -3.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.77% | 10.25% | -4.48% |
V3GS.L vs. LQEE.L - Expense Ratio Comparison
V3GS.L has a 0.15% expense ratio, which is lower than LQEE.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
V3GS.L vs. LQEE.L - Dividend Comparison
V3GS.L's dividend yield for the trailing twelve months is around 2.53%, less than LQEE.L's 5.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
LQEE.L iShares $ Corp Bond UCITS ETF EUR Hedged (Dist) | 5.02% | 4.75% | 5.02% | 4.58% | 3.79% | 2.69% | 2.69% | 3.45% | 3.76% | 0.65% |
V3GS.L Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Accumulating | 2.53% | 3.59% | 4.25% | 4.00% | 2.43% | 0.59% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
V3GS.L and LQEE.L have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, V3GS.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
V3GS.L is cheaper with a 0.15% expense ratio, compared with 0.25% for LQEE.L.
V3GS.L tracks Bloomberg Gbl Agg Corp TR Hdg GBP, while LQEE.L tracks IBOXX US Dollar Liquid Investment Grade Index (USD). They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.15% for V3GS.L and 0.25% for LQEE.L.
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