BSCZ vs. LQDW
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. Over the past year, BSCZ returned 5.27% vs 6.49% for LQDW. 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
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Returns By Period
In the year-to-date period, BSCZ achieves a 0.26% return, which is significantly lower than LQDW's 1.88% return.
BSCZ
- 1D
- 0.10%
- 1M
- 0.62%
- YTD
- 0.26%
- 6M
- 0.46%
- 1Y
- 5.27%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
LQDW
- 1D
- 0.18%
- 1M
- 1.36%
- YTD
- 1.88%
- 6M
- 2.02%
- 1Y
- 6.49%
- 3Y*
- 3.70%
- 5Y*
- —
- 10Y*
- —
BSCZ vs. LQDW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BSCZ Invesco BulletShares 2035 Corporate Bond ETF | 0.26% | 5.67% |
LQDW iShares Investment Grade Corporate Bond Buywrite Strategy ETF | 1.88% | 4.94% |
Correlation
The correlation between BSCZ and LQDW is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Jun 11, 2025 | 0.79 |
The correlation between BSCZ and LQDW has been stable across timeframes, ranging from 0.79 to 0.82 - a consistent structural relationship.
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Return for Risk
BSCZ vs. LQDW — Risk / Return Rank
BSCZ
LQDW
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.
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.
| BSCZ | LQDW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.75 | ||
| Sortino ratioReturn per unit of downside risk | -0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.36 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.62 | 2.52 | -0.90 |
| Martin ratioReturn relative to average drawdown | 4.90 | 9.34 | -4.44 |
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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.
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Drawdown Indicators
| BSCZ | LQDW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.28% | -9.20% | +5.92% |
Max Drawdown (1Y)Largest decline over 1 year | -3.28% | -2.59% | -0.69% |
Max Drawdown (3Y)Largest decline over 3 years | — | -6.74% | — |
Current DrawdownCurrent decline from peak | -1.38% | -0.04% | -1.34% |
Average DrawdownAverage peak-to-trough decline | -0.78% | -2.32% | +1.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 0.70% | +0.38% |
Volatility
BSCZ vs. LQDW - Volatility Comparison
Invesco BulletShares 2035 Corporate Bond ETF (BSCZ) has a higher volatility of 1.41% compared to iShares Investment Grade Corporate Bond Buywrite Strategy ETF (LQDW) at 1.00%. This indicates that BSCZ's price experiences larger fluctuations and is considered to be riskier 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
| BSCZ | LQDW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.41% | 1.00% | +0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 3.82% | 3.12% | +0.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.02% | 3.62% | +1.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.00% | 5.47% | -0.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.00% | 5.47% | -0.47% |
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 4.52%, less than LQDW's 12.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BSCZ Invesco BulletShares 2035 Corporate Bond ETF | 4.52% | 2.18% | 0.00% | 0.00% | 0.00% |
LQDW iShares Investment Grade Corporate Bond Buywrite Strategy ETF | 12.49% | 16.02% | 15.74% | 19.28% | 8.85% |
Frequently Asked Questions
BSCZ and LQDW have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BSCZ has higher volatility (1.41%) compared to LQDW (1.00%). In terms of maximum drawdown, BSCZ dropped -3.28% vs LQDW's -9.20%.
On 1-year performance, LQDW leads with 6.49% vs 5.27% for BSCZ. On fees, BSCZ is cheaper at 0.10% per year. On volatility, LQDW has been the lower-risk option at 1.00%. 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 5.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSCZ is cheaper with a 0.10% expense ratio, compared with 0.34% for LQDW.
LQDW has the higher dividend yield at 12.49%, compared with 4.52% for BSCZ.
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.
LQDW currently has the higher Sharpe Ratio (1.80 vs 1.06), 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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