V3GS.L vs. LQGH.L
V3GS.L (Vanguard ESG Global Corporate Bond UCITS ETF GBP Hedged Accumulating) and LQGH.L (iShares $ Corp Bond UCITS ETF GBP Hedged (Dist)) are both Global Corporate Bonds funds - V3GS.L tracks the Bloomberg Gbl Agg Corp TR Hdg GBP while LQGH.L tracks the Markit iBoxx USD Liquid Investment Grade Index. Both are passively managed. Over the past 5 years, V3GS.L returned 3.42%/yr vs -1.35%/yr for LQGH.L. Their correlation of 0.85 suggests significant overlap in exposure. V3GS.L charges 0.15%/yr vs 0.25%/yr for LQGH.L.
Performance
V3GS.L vs. LQGH.L - Performance Comparison
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Returns By Period
In the year-to-date period, V3GS.L achieves a 1.17% return, which is significantly higher than LQGH.L's -0.88% 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*
- —
LQGH.L
- 1D
- 0.24%
- 1M
- -1.16%
- 6M
- -0.41%
- YTD
- -0.88%
- 1Y
- 3.71%
- 3Y*
- 3.84%
- 5Y*
- -1.35%
- 10Y*
- —
V3GS.L vs. LQGH.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% |
LQGH.L iShares $ Corp Bond UCITS ETF GBP Hedged (Dist) | -0.88% | 7.39% | 1.02% | 7.48% | -18.79% | 2.94% |
Correlation
The correlation between V3GS.L and LQGH.L is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since May 20, 2021 | 0.85 |
The correlation between V3GS.L and LQGH.L has been stable across timeframes, ranging from 0.79 to 0.85 - a consistent structural relationship.
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Return for Risk
V3GS.L vs. LQGH.L — Risk / Return Rank
V3GS.L
LQGH.L
V3GS.L vs. LQGH.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 GBP Hedged (Dist) (LQGH.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 | LQGH.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.94 | ||
| Sortino ratioReturn per unit of downside risk | +1.41 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.12 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.94 | 1.07 | +1.87 |
| Martin ratioReturn relative to average drawdown | 9.69 | 2.84 | +6.85 |
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Drawdowns
V3GS.L vs. LQGH.L - Drawdown Comparison
The maximum V3GS.L drawdown since its inception was -18.23%, smaller than the maximum LQGH.L drawdown of -25.71%. Use the drawdown chart below to compare losses from any high point for V3GS.L and LQGH.L.
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Drawdown Indicators
| V3GS.L | LQGH.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.23% | -25.71% | +7.48% |
Max Drawdown (1Y)Largest decline over 1 year | -2.14% | -3.44% | +1.30% |
Max Drawdown (3Y)Largest decline over 3 years | -2.73% | -7.99% | +5.26% |
Max Drawdown (5Y)Largest decline over 5 years | -18.23% | -25.61% | +7.38% |
Current DrawdownCurrent decline from peak | -0.96% | -7.89% | +6.93% |
Average DrawdownAverage peak-to-trough decline | -4.49% | -8.50% | +4.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 1.30% | -0.65% |
Volatility
V3GS.L vs. LQGH.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 GBP Hedged (Dist) (LQGH.L) has a volatility of 1.39%. This indicates that V3GS.L experiences smaller price fluctuations and is considered to be less risky than LQGH.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 | LQGH.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.11% | 1.39% | -0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 3.07% | 4.46% | -1.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.02% | 5.99% | -1.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.84% | 8.68% | -2.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.77% | 8.84% | -3.07% |
V3GS.L vs. LQGH.L - Expense Ratio Comparison
V3GS.L has a 0.15% expense ratio, which is lower than LQGH.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. LQGH.L - Dividend Comparison
V3GS.L's dividend yield for the trailing twelve months is around 2.53%, less than LQGH.L's 4.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
LQGH.L iShares $ Corp Bond UCITS ETF GBP Hedged (Dist) | 4.97% | 4.72% | 4.91% | 4.53% | 3.77% | 2.65% | 2.74% | 3.40% | 2.64% |
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% |
Frequently Asked Questions
V3GS.L and LQGH.L have a correlation of 0.79, 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 LQGH.L.
V3GS.L tracks Bloomberg Gbl Agg Corp TR Hdg GBP, while LQGH.L tracks Markit iBoxx USD Liquid Investment Grade Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.15% for V3GS.L and 0.25% for LQGH.L.
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