FCOR vs. LQD
FCOR (Fidelity Corporate Bond ETF) and LQD (iShares iBoxx $ Investment Grade Corporate Bond ETF) are both Corporate Bonds funds. FCOR is actively managed, while LQD is passively managed. Over the past 10 years, FCOR returned 2.55%/yr vs 2.13%/yr for LQD. Their correlation of 0.82 means they have usually moved in the same direction. FCOR charges 0.36%/yr vs 0.15%/yr for LQD.
Performance
FCOR vs. LQD - Performance Comparison
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Returns By Period
In the year-to-date period, FCOR achieves a -0.59% return, which is significantly higher than LQD's -1.09% return. Over the past 10 years, FCOR has outperformed LQD with an annualized return of 2.55%, while LQD has yielded a comparatively lower 2.13% annualized return.
FCOR
- 1D
- 0.22%
- 1M
- -1.41%
- 6M
- -0.87%
- YTD
- -0.59%
- 1Y
- 1.97%
- 3Y*
- 5.32%
- 5Y*
- -0.12%
- 10Y*
- 2.55%
- ALL TIME*
- 2.79%
LQD
- 1D
- 0.30%
- 1M
- -1.91%
- 6M
- -1.34%
- YTD
- -1.09%
- 1Y
- 1.26%
- 3Y*
- 4.64%
- 5Y*
- -1.06%
- 10Y*
- 2.13%
- ALL TIME*
- 4.36%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.15M | $2.03M | $1.92M | |
| $3.33B | $3.22B | $3.02B |
FCOR vs. LQD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FCOR Fidelity Corporate Bond ETF | -0.59% | 7.88% | 3.01% | 8.95% | -15.88% | -1.64% | 11.39% | 14.87% | -3.04% | 6.13% |
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | -1.09% | 7.90% | 0.86% | 9.40% | -17.92% | -1.84% | 10.97% | 17.37% | -3.79% | 7.06% |
Correlation
The correlation between FCOR and LQD is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.91 |
Correlation (3Y) Balances recent behavior with more history. | 0.94 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.95 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.87 |
Correlation (All Time) Calculated using the full available price history since Oct 9, 2014 | 0.82 |
The correlation between FCOR and LQD shifts across timeframes, from 0.82 (all time) to 0.95 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FCOR vs. LQD — Risk / Return Rank
FCOR
LQD
FCOR vs. LQD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Corporate Bond ETF (FCOR) and iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD). 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.
| FCOR | LQD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.21 | ||
| Sortino ratioReturn per unit of downside risk | +0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.04 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.65 | 0.38 | +0.27 |
| Martin ratioReturn relative to average drawdown | 1.71 | 0.92 | +0.79 |
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Drawdowns
FCOR vs. LQD - Drawdown Comparison
The maximum FCOR drawdown since its inception was -22.60%, smaller than the maximum LQD drawdown of -24.95%. Use the drawdown chart below to compare losses from any high point for FCOR and LQD.
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Drawdown Indicators
| FCOR | LQD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.60% | -24.95% | +2.35% |
Max Drawdown (1Y)Largest decline over 1 year | -3.06% | -3.34% | +0.28% |
Max Drawdown (3Y)Largest decline over 3 years | -5.55% | -6.73% | +1.18% |
Max Drawdown (5Y)Largest decline over 5 years | -22.58% | -24.95% | +2.37% |
Max Drawdown (10Y)Largest decline over 10 years | -22.60% | -24.95% | +2.35% |
Current DrawdownCurrent decline from peak | -2.22% | -5.20% | +2.98% |
Average DrawdownAverage peak-to-trough decline | -4.68% | -3.99% | -0.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | 1.37% | -0.22% |
Volatility
FCOR vs. LQD - Volatility Comparison
The current volatility for Fidelity Corporate Bond ETF (FCOR) is 1.24%, while iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) has a volatility of 1.41%. This indicates that FCOR experiences smaller price fluctuations and is considered to be less risky than LQD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCOR | LQD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 1.41% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 3.56% | 4.09% | -0.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.34% | 5.22% | -0.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.07% | 8.65% | -1.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.10% | 8.69% | -1.59% |
FCOR vs. LQD - Expense Ratio Comparison
FCOR has a 0.36% expense ratio, which is higher than LQD's 0.15% expense ratio.
Dividends
FCOR vs. LQD - Dividend Comparison
FCOR's dividend yield for the trailing twelve months is around 4.67%, which matches LQD's 4.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCOR Fidelity Corporate Bond ETF | 4.67% | 4.47% | 4.35% | 3.70% | 3.30% | 2.34% | 2.99% | 3.10% | 3.65% | 2.81% | 3.04% | 3.82% |
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 4.67% | 4.48% | 4.45% | 3.99% | 3.30% | 2.30% | 2.66% | 3.29% | 3.67% | 3.10% | 3.34% | 3.47% |
Frequently Asked Questions
With a correlation of 0.91, FCOR and LQD move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
LQD has higher volatility (1.41%) compared to FCOR (1.24%). In terms of maximum drawdown, FCOR dropped -22.60% vs LQD's -24.95%.
On 10-year performance, FCOR leads with 2.55% vs 2.13% for LQD. On fees, LQD is cheaper at 0.15% per year. On volatility, FCOR has been the lower-risk option at 1.24%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FCOR has performed better with a 2.55% return vs 2.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LQD is cheaper with a 0.15% expense ratio, compared with 0.36% for FCOR.
FCOR and LQD have nearly identical dividend yields, around 4.67%.
They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.36% for FCOR and 0.15% for LQD.
FCOR currently has the higher Sharpe Ratio (0.46 vs 0.24), 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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