BBBMX vs. LQDH
BBBMX (BBH Limited Duration Fund Class N) and LQDH (iShares Interest Rate Hedged Corporate Bond ETF) are both funds - BBBMX is a Ultrashort Bond fund actively managed by BBH, while LQDH is a Corporate Bonds fund actively managed by iShares. Both are actively managed. Over the past 10 years, BBBMX returned 3.36%/yr vs 4.64%/yr for LQDH. At a 0.11 correlation, their price movements are largely independent. BBBMX charges 0.35%/yr vs 0.25%/yr for LQDH.
Performance
BBBMX vs. LQDH - Performance Comparison
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Returns By Period
In the year-to-date period, BBBMX achieves a 1.32% return, which is significantly lower than LQDH's 2.31% return. Over the past 10 years, BBBMX has underperformed LQDH with an annualized return of 3.36%, while LQDH has yielded a comparatively higher 4.64% annualized return.
BBBMX
- 1D
- 0.00%
- 1M
- 0.25%
- YTD
- 1.32%
- 6M
- 1.73%
- 1Y
- 4.62%
- 3Y*
- 6.23%
- 5Y*
- 3.91%
- 10Y*
- 3.36%
LQDH
- 1D
- 0.00%
- 1M
- 1.09%
- YTD
- 2.31%
- 6M
- 3.00%
- 1Y
- 7.55%
- 3Y*
- 8.05%
- 5Y*
- 5.28%
- 10Y*
- 4.64%
BBBMX vs. LQDH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BBBMX BBH Limited Duration Fund Class N | 1.32% | 5.54% | 6.81% | 7.44% | -1.48% | 1.10% | 2.78% | 4.30% | 1.99% | 2.31% |
LQDH iShares Interest Rate Hedged Corporate Bond ETF | 2.31% | 7.00% | 7.43% | 11.14% | -1.88% | 1.84% | 1.68% | 9.50% | -2.20% | 6.00% |
Correlation
The correlation between BBBMX and LQDH is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2014 | 0.11 |
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Return for Risk
BBBMX vs. LQDH — Risk / Return Rank
BBBMX
LQDH
BBBMX vs. LQDH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BBH Limited Duration Fund Class N (BBBMX) and iShares Interest Rate Hedged Corporate Bond ETF (LQDH). 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.
| BBBMX | LQDH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +4.02 | ||
| Omega ratioGain probability vs. loss probability | 2.54 | 1.56 | +0.97 |
| Calmar ratioReturn relative to maximum drawdown | 8.10 | 3.23 | +4.87 |
| Martin ratioReturn relative to average drawdown | 39.41 | 13.73 | +25.69 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BBBMX | LQDH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.87 | 2.80 | +0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.51 | 1.20 | +1.31 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 2.28 | 0.72 | +1.56 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.22 | 0.58 | +0.63 |
Drawdowns
BBBMX vs. LQDH - Drawdown Comparison
The maximum BBBMX drawdown since its inception was -6.50%, smaller than the maximum LQDH drawdown of -24.63%. Use the drawdown chart below to compare losses from any high point for BBBMX and LQDH.
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Drawdown Indicators
| BBBMX | LQDH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.50% | -24.63% | +18.13% |
Max Drawdown (1Y)Largest decline over 1 year | -0.57% | -2.34% | +1.77% |
Max Drawdown (3Y)Largest decline over 3 years | -0.57% | -4.86% | +4.29% |
Max Drawdown (5Y)Largest decline over 5 years | -3.18% | -7.08% | +3.90% |
Max Drawdown (10Y)Largest decline over 10 years | -6.50% | -24.63% | +18.13% |
Current DrawdownCurrent decline from peak | -0.10% | -0.09% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -0.57% | -1.68% | +1.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.12% | 0.55% | -0.43% |
Volatility
BBBMX vs. LQDH - Volatility Comparison
BBH Limited Duration Fund Class N (BBBMX) has a higher volatility of 0.52% compared to iShares Interest Rate Hedged Corporate Bond ETF (LQDH) at 0.49%. This indicates that BBBMX's price experiences larger fluctuations and is considered to be riskier than LQDH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BBBMX | LQDH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.52% | 0.49% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 1.21% | 2.03% | -0.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.61% | 2.70% | -1.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.56% | 4.41% | -2.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.48% | 6.44% | -4.96% |
BBBMX vs. LQDH - Expense Ratio Comparison
BBBMX has a 0.35% expense ratio, which is higher than LQDH's 0.25% expense ratio.
Dividends
BBBMX vs. LQDH - Dividend Comparison
BBBMX's dividend yield for the trailing twelve months is around 4.52%, less than LQDH's 5.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BBBMX BBH Limited Duration Fund Class N | 4.52% | 4.60% | 4.80% | 4.23% | 1.78% | 1.29% | 2.03% | 2.93% | 2.57% | 1.99% | 2.00% | 1.72% |
LQDH iShares Interest Rate Hedged Corporate Bond ETF | 5.95% | 6.06% | 7.57% | 7.69% | 3.73% | 1.65% | 2.22% | 3.09% | 5.08% | 2.37% | 2.33% | 2.98% |
Frequently Asked Questions
BBBMX and LQDH have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BBBMX has higher volatility (0.52%) compared to LQDH (0.49%). In terms of maximum drawdown, BBBMX dropped -6.50% vs LQDH's -24.63%.
BBBMX currently has the higher Sharpe Ratio (2.87 vs 2.80), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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