FEIG vs. LQDW
FEIG (FlexShares ESG & Climate Investment Grade Corporate Core Index Fund) and LQDW (iShares Investment Grade Corporate Bond Buywrite Strategy ETF) are both Corporate Bonds funds - FEIG tracks the Northern Trust ESG & Climate Investment Grade U.S. Corporate Core TR while LQDW tracks the CBOE LQD BuyWrite Index. Both are passively managed. Over the past 3 years, FEIG returned 4.96%/yr vs 3.70%/yr for LQDW. Their correlation of 0.82 suggests significant overlap in exposure. FEIG charges 0.12%/yr vs 0.34%/yr for LQDW.
Performance
FEIG vs. LQDW - Performance Comparison
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Returns By Period
In the year-to-date period, FEIG achieves a 0.68% return, which is significantly lower than LQDW's 1.88% return.
FEIG
- 1D
- 0.16%
- 1M
- 0.73%
- YTD
- 0.68%
- 6M
- 0.82%
- 1Y
- 4.85%
- 3Y*
- 4.96%
- 5Y*
- —
- 10Y*
- —
LQDW
- 1D
- 0.18%
- 1M
- 1.36%
- YTD
- 1.88%
- 6M
- 2.02%
- 1Y
- 6.49%
- 3Y*
- 3.70%
- 5Y*
- —
- 10Y*
- —
FEIG vs. LQDW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FEIG FlexShares ESG & Climate Investment Grade Corporate Core Index Fund | 0.68% | 7.31% | 1.75% | 8.57% | -3.57% |
LQDW iShares Investment Grade Corporate Bond Buywrite Strategy ETF | 1.88% | 9.05% | 2.60% | 3.99% | -6.78% |
Correlation
The correlation between FEIG and LQDW is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Aug 22, 2022 | 0.82 |
The correlation between FEIG and LQDW has been stable across timeframes, ranging from 0.79 to 0.83 - a consistent structural relationship.
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Return for Risk
FEIG vs. LQDW — Risk / Return Rank
FEIG
LQDW
FEIG vs. LQDW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares ESG & Climate Investment Grade Corporate Core Index Fund (FEIG) 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.
| FEIG | LQDW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.69 | ||
| Sortino ratioReturn per unit of downside risk | -0.90 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.36 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 2.52 | -0.78 |
| Martin ratioReturn relative to average drawdown | 5.15 | 9.34 | -4.19 |
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Drawdowns
FEIG vs. LQDW - Drawdown Comparison
The maximum FEIG drawdown since its inception was -22.26%, which is greater than LQDW's maximum drawdown of -9.20%. Use the drawdown chart below to compare losses from any high point for FEIG and LQDW.
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Drawdown Indicators
| FEIG | LQDW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.26% | -9.20% | -13.06% |
Max Drawdown (1Y)Largest decline over 1 year | -2.81% | -2.59% | -0.22% |
Max Drawdown (3Y)Largest decline over 3 years | -6.67% | -6.74% | +0.07% |
Current DrawdownCurrent decline from peak | -1.36% | -0.04% | -1.32% |
Average DrawdownAverage peak-to-trough decline | -9.42% | -2.32% | -7.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 0.70% | +0.24% |
Volatility
FEIG vs. LQDW - Volatility Comparison
FlexShares ESG & Climate Investment Grade Corporate Core Index Fund (FEIG) has a higher volatility of 1.20% compared to iShares Investment Grade Corporate Bond Buywrite Strategy ETF (LQDW) at 1.00%. This indicates that FEIG'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
| FEIG | LQDW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 1.00% | +0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 3.35% | 3.12% | +0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.39% | 3.62% | +0.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.37% | 5.47% | +1.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.37% | 5.47% | +1.90% |
FEIG vs. LQDW - Expense Ratio Comparison
FEIG has a 0.12% expense ratio, which is lower than LQDW's 0.34% expense ratio.
Dividends
FEIG vs. LQDW - Dividend Comparison
FEIG's dividend yield for the trailing twelve months is around 4.74%, less than LQDW's 12.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
FEIG FlexShares ESG & Climate Investment Grade Corporate Core Index Fund | 4.74% | 4.84% | 4.65% | 4.21% | 2.99% | 0.55% |
LQDW iShares Investment Grade Corporate Bond Buywrite Strategy ETF | 12.49% | 16.02% | 15.74% | 19.28% | 8.85% | 0.00% |
Frequently Asked Questions
FEIG and LQDW have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FEIG has higher volatility (1.20%) compared to LQDW (1.00%). In terms of maximum drawdown, FEIG dropped -22.26% vs LQDW's -9.20%.
On 3-year performance, FEIG leads with 4.96% vs 3.70% for LQDW. On fees, FEIG is cheaper at 0.12% 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 3-year period, FEIG has performed better with a 4.96% return vs 3.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FEIG is cheaper with a 0.12% expense ratio, compared with 0.34% for LQDW.
LQDW has the higher dividend yield at 12.49%, compared with 4.74% for FEIG.
FEIG tracks Northern Trust ESG & Climate Investment Grade U.S. Corporate Core TR, while LQDW tracks CBOE LQD BuyWrite Index. They also come from different issuers: FlexShares and iShares. Their fees differ too: 0.12% for FEIG and 0.34% for LQDW.
LQDW currently has the higher Sharpe Ratio (1.80 vs 1.11), 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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