BSCX vs. LQDW
BSCX (Invesco BulletShares 2033 Corporate Bond ETF) and LQDW (iShares Investment Grade Corporate Bond Buywrite Strategy ETF) are both Corporate Bonds funds - BSCX tracks the Invesco BulletShares USD Corporate Bond 2033 Index while LQDW tracks the CBOE LQD BuyWrite Index. Both are passively managed. Over the past year, BSCX returned 6.09% vs 6.49% for LQDW. A 0.76 correlation means they provide meaningful diversification when combined. BSCX charges 0.10%/yr vs 0.34%/yr for LQDW.
Performance
BSCX vs. LQDW - Performance Comparison
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Returns By Period
In the year-to-date period, BSCX achieves a 0.17% return, which is significantly lower than LQDW's 1.25% return.
BSCX
- 1D
- -0.19%
- 1M
- 0.27%
- YTD
- 0.17%
- 6M
- 0.21%
- 1Y
- 6.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
LQDW
- 1D
- -0.20%
- 1M
- 0.83%
- YTD
- 1.25%
- 6M
- 1.65%
- 1Y
- 6.49%
- 3Y*
- 3.79%
- 5Y*
- —
- 10Y*
- —
BSCX vs. LQDW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BSCX Invesco BulletShares 2033 Corporate Bond ETF | 0.17% | 9.31% | 1.73% | 7.88% |
LQDW iShares Investment Grade Corporate Bond Buywrite Strategy ETF | 1.25% | 9.05% | 2.60% | -1.30% |
Correlation
The correlation between BSCX and LQDW is 0.74, 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 | 0.74 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2023 | 0.76 |
The correlation between BSCX and LQDW has been stable across timeframes, ranging from 0.74 to 0.76 - a consistent structural relationship.
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Return for Risk
BSCX vs. LQDW — Risk / Return Rank
BSCX
LQDW
BSCX vs. LQDW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2033 Corporate Bond ETF (BSCX) and iShares Investment Grade Corporate Bond Buywrite Strategy ETF (LQDW). 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.
| BSCX | LQDW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.38 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | 2.51 | -0.40 |
| Martin ratioReturn relative to average drawdown | 6.83 | 9.39 | -2.56 |
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
| BSCX | LQDW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.49 | 1.85 | -0.36 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.16 | 0.46 | +0.71 |
Drawdowns
BSCX vs. LQDW - Drawdown Comparison
The maximum BSCX drawdown since its inception was -5.13%, smaller than the maximum LQDW drawdown of -9.20%. Use the drawdown chart below to compare losses from any high point for BSCX and LQDW.
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Drawdown Indicators
| BSCX | LQDW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.13% | -9.20% | +4.07% |
Max Drawdown (1Y)Largest decline over 1 year | -2.90% | -2.59% | -0.31% |
Max Drawdown (3Y)Largest decline over 3 years | — | -6.74% | — |
Current DrawdownCurrent decline from peak | -1.40% | -0.35% | -1.05% |
Average DrawdownAverage peak-to-trough decline | -1.37% | -2.35% | +0.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 0.69% | +0.20% |
Volatility
BSCX vs. LQDW - Volatility Comparison
The current volatility for Invesco BulletShares 2033 Corporate Bond ETF (BSCX) is 1.32%, while iShares Investment Grade Corporate Bond Buywrite Strategy ETF (LQDW) has a volatility of 1.46%. This indicates that BSCX experiences smaller price fluctuations and is considered to be less risky than LQDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSCX | LQDW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.32% | 1.46% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 2.97% | 3.02% | -0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.11% | 3.53% | +0.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.08% | 5.49% | +0.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.08% | 5.49% | +0.59% |
BSCX vs. LQDW - Expense Ratio Comparison
BSCX has a 0.10% expense ratio, which is lower than LQDW's 0.34% expense ratio.
Dividends
BSCX vs. LQDW - Dividend Comparison
BSCX's dividend yield for the trailing twelve months is around 4.89%, less than LQDW's 12.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BSCX Invesco BulletShares 2033 Corporate Bond ETF | 4.89% | 4.82% | 5.00% | 1.08% | 0.00% |
LQDW iShares Investment Grade Corporate Bond Buywrite Strategy ETF | 12.57% | 16.02% | 15.74% | 19.28% | 8.85% |
Frequently Asked Questions
BSCX and LQDW have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LQDW has higher volatility (1.46%) compared to BSCX (1.32%). In terms of maximum drawdown, BSCX dropped -5.13% vs LQDW's -9.20%.
On 1-year performance, LQDW leads with 6.49% vs 6.09% for BSCX. On fees, BSCX is cheaper at 0.10% per year. On volatility, BSCX has been the lower-risk option at 1.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, LQDW has performed better with a 6.49% return vs 6.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSCX is cheaper with a 0.10% expense ratio, compared with 0.34% for LQDW.
LQDW has the higher dividend yield at 12.57%, compared with 4.89% for BSCX.
BSCX tracks Invesco BulletShares USD Corporate Bond 2033 Index, while LQDW tracks CBOE LQD BuyWrite Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.10% for BSCX and 0.34% for LQDW.
LQDW currently has the higher Sharpe Ratio (1.85 vs 1.49), 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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