BSCZ vs. LQDW

Last updated Jun 4, 2026

BSCZ (Invesco BulletShares 2035 Corporate Bond ETF) and LQDW (iShares Investment Grade Corporate Bond Buywrite Strategy ETF) are both Corporate Bonds funds - BSCZ tracks the BulletShares® USD Corporate Bond 2035 Index while LQDW tracks the CBOE LQD BuyWrite Index. Both are passively managed. A 0.79 correlation means they provide meaningful diversification when combined. BSCZ charges 0.10%/yr vs 0.34%/yr for LQDW.

Performance

BSCZ vs. LQDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BulletShares 2035 Corporate Bond ETF (BSCZ) and iShares Investment Grade Corporate Bond Buywrite Strategy ETF (LQDW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BSCZ achieves a 0.18% return, which is significantly lower than LQDW's 1.25% return.

BSCZ

• 1D: -0.24%
• 1M: 0.42%
• YTD: 0.18%
• 6M: -0.02%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

LQDW

• 1D: -0.20%
• 1M: 0.83%
• YTD: 1.25%
• 6M: 1.65%
• 1Y: 6.49%
• 3Y*: 3.79%
• 5Y*: —
• 10Y*: —

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

BSCZ vs. LQDW - Yearly Performance Comparison

	2026 (YTD)	2025
BSCZ Invesco BulletShares 2035 Corporate Bond ETF	0.18%	5.67%
LQDW iShares Investment Grade Corporate Bond Buywrite Strategy ETF	1.25%	4.82%

Correlation

The correlation between BSCZ and LQDW 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 (All Time) Calculated using the full available price history since Jun 12, 2025	0.79

Return for Risk

BSCZ vs. LQDW — Risk / Return Rank

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

LQDW

LQDW Risk / Return Rank: 54
LQDW Sharpe Ratio Rank: 53
LQDW Sortino Ratio Rank: 53
LQDW Omega Ratio Rank: 61
LQDW Calmar Ratio Rank: 50
LQDW Martin Ratio Rank: 54

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.

BSCZ vs. LQDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2035 Corporate Bond ETF (BSCZ) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	BSCZ	LQDW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.85	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.21	0.46	+0.75

Drawdowns

BSCZ vs. LQDW - Drawdown Comparison

The maximum BSCZ drawdown since its inception was -3.28%, smaller than the maximum LQDW drawdown of -9.20%. Use the drawdown chart below to compare losses from any high point for BSCZ and LQDW.

Drawdown Indicators

	BSCZ	LQDW	Difference
Max Drawdown Largest peak-to-trough decline	-3.28%	-9.20%	+5.92%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.59%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-6.74%	—
Current Drawdown Current decline from peak	-1.46%	-0.35%	-1.11%
Average Drawdown Average peak-to-trough decline	-0.75%	-2.35%	+1.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.69%	—

Volatility

Volatility by Period

	BSCZ	LQDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.46%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.02%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.98%	3.53%	+1.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.98%	5.49%	-0.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.98%	5.49%	-0.51%

BSCZ vs. LQDW - Expense Ratio Comparison

BSCZ has a 0.10% expense ratio, which is lower than LQDW's 0.34% expense ratio.

Dividends

BSCZ vs. LQDW - Dividend Comparison

BSCZ's dividend yield for the trailing twelve months is around 4.09%, less than LQDW's 12.57% yield.

Position	TTM	2025	2024	2023	2022
BSCZ Invesco BulletShares 2035 Corporate Bond ETF	4.09%	2.18%	0.00%	0.00%	0.00%
LQDW iShares Investment Grade Corporate Bond Buywrite Strategy ETF	12.57%	16.02%	15.74%	19.28%	8.85%

Frequently Asked Questions

Can I hold both BSCZ and LQDW in my portfolio?

BSCZ and LQDW 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.

Which ETF is better, BSCZ or LQDW?

On fees, BSCZ is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BSCZ or LQDW?

BSCZ is cheaper with a 0.10% expense ratio, compared with 0.34% for LQDW.

Which ETF pays a higher dividend yield, BSCZ or LQDW?

LQDW has the higher dividend yield at 12.57%, compared with 4.09% for BSCZ.

What is the main difference between BSCZ and LQDW?

BSCZ tracks BulletShares® USD Corporate Bond 2035 Index, while LQDW tracks CBOE LQD BuyWrite Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.10% for BSCZ and 0.34% for LQDW.