FIAX vs. LQDH
FIAX (Nicholas Fixed Income Alternative ETF) and LQDH (iShares Interest Rate Hedged Corporate Bond ETF) are both exchange-traded funds - FIAX is a Nontraditional Bonds fund actively managed by Nicholas, while LQDH is a Corporate Bonds fund actively managed by iShares. Both are actively managed. Over the past 3 years, FIAX returned 3.47%/yr vs 8.08%/yr for LQDH. At a 0.31 correlation, their price movements are largely independent. FIAX charges 1.04%/yr vs 0.25%/yr for LQDH.
Performance
FIAX vs. LQDH - Performance Comparison
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Returns By Period
In the year-to-date period, FIAX achieves a 1.22% return, which is significantly lower than LQDH's 2.31% return.
FIAX
- 1D
- -0.14%
- 1M
- 0.50%
- YTD
- 1.22%
- 6M
- 1.19%
- 1Y
- 4.66%
- 3Y*
- 3.47%
- 5Y*
- —
- 10Y*
- —
LQDH
- 1D
- -0.09%
- 1M
- 1.29%
- YTD
- 2.31%
- 6M
- 3.11%
- 1Y
- 7.62%
- 3Y*
- 8.08%
- 5Y*
- 5.28%
- 10Y*
- 4.64%
FIAX vs. LQDH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FIAX Nicholas Fixed Income Alternative ETF | 1.22% | 2.33% | 4.67% | 3.44% | -0.30% |
LQDH iShares Interest Rate Hedged Corporate Bond ETF | 2.31% | 7.00% | 7.43% | 11.14% | -0.08% |
Correlation
The correlation between FIAX and LQDH is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2022 | 0.31 |
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Return for Risk
FIAX vs. LQDH — Risk / Return Rank
FIAX
LQDH
FIAX vs. LQDH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nicholas Fixed Income Alternative ETF (FIAX) and iShares Interest Rate Hedged Corporate Bond ETF (LQDH). 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.
| FIAX | LQDH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.70 | ||
| Sortino ratioReturn per unit of downside risk | -2.63 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.57 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | 1.95 | 3.26 | -1.31 |
| Martin ratioReturn relative to average drawdown | 7.11 | 13.85 | -6.75 |
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
| FIAX | LQDH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.13 | 2.83 | -1.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.20 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.72 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.81 | 0.58 | +0.22 |
Drawdowns
FIAX vs. LQDH - Drawdown Comparison
The maximum FIAX drawdown since its inception was -6.26%, smaller than the maximum LQDH drawdown of -24.63%. Use the drawdown chart below to compare losses from any high point for FIAX and LQDH.
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Drawdown Indicators
| FIAX | LQDH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.26% | -24.63% | +18.37% |
Max Drawdown (1Y)Largest decline over 1 year | -2.40% | -2.34% | -0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -6.26% | -4.86% | -1.40% |
Max Drawdown (5Y)Largest decline over 5 years | — | -7.08% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.63% | — |
Current DrawdownCurrent decline from peak | -0.32% | -0.09% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -0.85% | -1.68% | +0.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 0.55% | +0.11% |
Volatility
FIAX vs. LQDH - Volatility Comparison
Nicholas Fixed Income Alternative ETF (FIAX) has a higher volatility of 1.43% compared to iShares Interest Rate Hedged Corporate Bond ETF (LQDH) at 0.50%. This indicates that FIAX's price experiences larger fluctuations and is considered to be riskier than LQDH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIAX | LQDH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.43% | 0.50% | +0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 3.40% | 2.03% | +1.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.14% | 2.70% | +1.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.05% | 4.41% | -0.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.05% | 6.44% | -2.39% |
FIAX vs. LQDH - Expense Ratio Comparison
FIAX has a 1.04% expense ratio, which is higher than LQDH's 0.25% expense ratio.
Dividends
FIAX vs. LQDH - Dividend Comparison
FIAX's dividend yield for the trailing twelve months is around 8.19%, more than LQDH's 5.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIAX Nicholas Fixed Income Alternative ETF | 8.19% | 8.17% | 8.11% | 4.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
LQDH iShares Interest Rate Hedged Corporate Bond ETF | 5.95% | 6.06% | 7.57% | 7.69% | 3.73% | 1.65% | 2.22% | 3.09% | 5.08% | 2.37% | 2.33% | 2.98% |
Frequently Asked Questions
FIAX and LQDH have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FIAX has higher volatility (1.43%) compared to LQDH (0.50%). In terms of maximum drawdown, FIAX dropped -6.26% vs LQDH's -24.63%.
On 3-year performance, LQDH leads with 8.08% vs 3.47% for FIAX. On fees, LQDH is cheaper at 0.25% per year. On volatility, LQDH has been the lower-risk option at 0.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, LQDH has performed better with a 8.08% return vs 3.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LQDH is cheaper with a 0.25% expense ratio, compared with 1.04% for FIAX.
FIAX has the higher dividend yield at 8.19%, compared with 5.95% for LQDH.
FIAX is categorized as Nontraditional Bonds, while LQDH is Corporate Bonds. They also come from different issuers: Nicholas and iShares. Their fees differ too: 1.04% for FIAX and 0.25% for LQDH.
LQDH currently has the higher Sharpe Ratio (2.83 vs 1.13), 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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