VWOB vs. LQDA.L

Last updated Apr 2, 2026

Compare and contrast key facts about Vanguard Emerging Markets Government Bond ETF (VWOB) and iShares USD Corporate Bond UCITS ETF (Acc) (LQDA.L).

VWOB and LQDA.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VWOB is a passively managed fund by Vanguard that tracks the performance of the Barclays USD Emerging Markets Government RIC Capped Index. It was launched on May 31, 2013. LQDA.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 13, 2017. Both VWOB and LQDA.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

VWOB vs. LQDA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Emerging Markets Government Bond ETF (VWOB) and iShares USD Corporate Bond UCITS ETF (Acc) (LQDA.L). The values are adjusted to include any dividend payments, if applicable.

VWOB vs. LQDA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VWOB Vanguard Emerging Markets Government Bond ETF	-1.27%	13.49%	5.20%	10.68%	-17.39%	-1.80%	5.65%	14.46%	-2.92%	4.08%
LQDA.L iShares USD Corporate Bond UCITS ETF (Acc)	-0.51%	8.01%	1.25%	8.99%	-17.75%	-1.66%	10.56%	18.22%	-4.30%	4.45%

Returns By Period

In the year-to-date period, VWOB achieves a -1.27% return, which is significantly lower than LQDA.L's -0.51% return.

VWOB

• 1D: 0.37%
• 1M: -2.64%
• YTD: -1.27%
• 6M: 1.07%
• 1Y: 8.63%
• 3Y*: 8.17%
• 5Y*: 2.10%
• 10Y*: 3.49%

LQDA.L

• 1D: 1.01%
• 1M: -1.27%
• YTD: -0.51%
• 6M: 0.32%
• 1Y: 4.97%
• 3Y*: 4.63%
• 5Y*: 0.21%
• 10Y*: —

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

VWOB vs. LQDA.L - Expense Ratio Comparison

Both VWOB and LQDA.L have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

VWOB

Vanguard Emerging Markets Government Bond ETF

LQDA.L

iShares USD Corporate Bond UCITS ETF (Acc)

Return for Risk

VWOB vs. LQDA.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VWOB

VWOB Risk / Return Rank: 73
VWOB Sharpe Ratio Rank: 72
VWOB Sortino Ratio Rank: 71
VWOB Omega Ratio Rank: 73
VWOB Calmar Ratio Rank: 74
VWOB Martin Ratio Rank: 75

LQDA.L

LQDA.L Risk / Return Rank: 36
LQDA.L Sharpe Ratio Rank: 35
LQDA.L Sortino Ratio Rank: 33
LQDA.L Omega Ratio Rank: 33
LQDA.L Calmar Ratio Rank: 38
LQDA.L Martin Ratio Rank: 41

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.

VWOB vs. LQDA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Emerging Markets Government Bond ETF (VWOB) and iShares USD Corporate Bond UCITS ETF (Acc) (LQDA.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.

	VWOB	LQDA.L	Difference
Sharpe ratio Return per unit of total volatility	1.33	0.71	+0.62
Sortino ratio Return per unit of downside risk	1.84	1.01	+0.83
Omega ratio Gain probability vs. loss probability	1.28	1.14	+0.14
Calmar ratio Return relative to maximum drawdown	2.00	1.06	+0.94
Martin ratio Return relative to average drawdown	8.18	4.02	+4.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VWOB vs. LQDA.L - Sharpe Ratio Comparison

The current VWOB Sharpe Ratio is 1.33, which is higher than the LQDA.L Sharpe Ratio of 0.71. The chart below compares the historical Sharpe Ratios of VWOB and LQDA.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.

Sharpe Ratios by Period

	VWOB	LQDA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.33	0.71	+0.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	0.02	+0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.28	+0.12

Correlation

The correlation between VWOB and LQDA.L is 0.52, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

VWOB vs. LQDA.L - Dividend Comparison

VWOB's dividend yield for the trailing twelve months is around 5.96%, while LQDA.L has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VWOB Vanguard Emerging Markets Government Bond ETF	5.96%	5.92%	6.08%	5.50%	5.30%	4.04%	4.18%	4.58%	4.52%	4.61%	4.71%	4.93%
LQDA.L iShares USD Corporate Bond UCITS ETF (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

VWOB vs. LQDA.L - Drawdown Comparison

The maximum VWOB drawdown since its inception was -26.98%, which is greater than LQDA.L's maximum drawdown of -25.10%. Use the drawdown chart below to compare losses from any high point for VWOB and LQDA.L.

Drawdown Indicators

	VWOB	LQDA.L	Difference
Max Drawdown Largest peak-to-trough decline	-26.98%	-25.10%	-1.88%
Max Drawdown (1Y) Largest decline over 1 year	-4.48%	-4.93%	+0.45%
Max Drawdown (5Y) Largest decline over 5 years	-26.98%	-25.10%	-1.88%
Max Drawdown (10Y) Largest decline over 10 years	-26.98%	—	—
Current Drawdown Current decline from peak	-3.12%	-4.08%	+0.96%
Average Drawdown Average peak-to-trough decline	-4.83%	-6.86%	+2.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.10%	1.30%	-0.20%

Volatility

VWOB vs. LQDA.L - Volatility Comparison

Vanguard Emerging Markets Government Bond ETF (VWOB) has a higher volatility of 2.95% compared to iShares USD Corporate Bond UCITS ETF (Acc) (LQDA.L) at 2.45%. This indicates that VWOB's price experiences larger fluctuations and is considered to be riskier than LQDA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VWOB	LQDA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.95%	2.45%	+0.50%
Volatility (6M) Calculated over the trailing 6-month period	3.75%	3.80%	-0.05%
Volatility (1Y) Calculated over the trailing 1-year period	6.52%	6.99%	-0.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.17%	8.42%	+0.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.32%	9.15%	+0.17%