GSWO vs. LQD
GSWO (Goldman Sachs ActiveBeta World Equity ETF) and LQD (iShares iBoxx $ Investment Grade Corporate Bond ETF) are both exchange-traded funds - GSWO is a Global Equities fund tracking the Goldman Sachs ActiveBeta World Low Vol Plus Equity Index - Benchmark TR Net, while LQD is a Corporate Bonds fund tracking the iBoxx $ Liquid Investment Grade Index. Both are passively managed. Over the past 3 years, GSWO returned 16.39%/yr vs 4.07%/yr for LQD. Their 0.41 correlation means their historical movements had little consistent relationship. GSWO charges 0.25%/yr vs 0.15%/yr for LQD.
Performance
GSWO vs. LQD - Performance Comparison
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Returns By Period
In the year-to-date period, GSWO achieves a 9.77% return, which is significantly higher than LQD's -1.41% return.
GSWO
- 1D
- 0.17%
- 1M
- 0.80%
- 6M
- 8.66%
- YTD
- 9.77%
- 1Y
- 15.09%
- 3Y*
- 16.39%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.08%
LQD
- 1D
- -0.03%
- 1M
- -2.65%
- 6M
- -1.99%
- YTD
- -1.41%
- 1Y
- 1.95%
- 3Y*
- 4.07%
- 5Y*
- -1.00%
- 10Y*
- 2.06%
- ALL TIME*
- 4.35%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.06M | $3.14M | $3.93M | |
| $3.09B | $3.13B | $2.99B |
GSWO vs. LQD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GSWO Goldman Sachs ActiveBeta World Equity ETF | 9.77% | 18.97% | 15.29% | 16.28% | -6.15% |
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | -1.41% | 7.90% | 0.86% | 9.40% | -10.01% |
Correlation
The correlation between GSWO and LQD is 0.47, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.47 |
Correlation (3Y) Balances recent behavior with more history. | 0.40 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022 | 0.42 |
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Return for Risk
GSWO vs. LQD — Risk / Return Rank
GSWO
LQD
GSWO vs. LQD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs ActiveBeta World Equity ETF (GSWO) 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.
| GSWO | LQD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.88 | ||
| Sortino ratioReturn per unit of downside risk | +1.27 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.08 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 0.68 | +1.03 |
| Martin ratioReturn relative to average drawdown | 7.82 | 1.76 | +6.06 |
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Drawdowns
GSWO vs. LQD - Drawdown Comparison
The maximum GSWO drawdown since its inception was -17.77%, smaller than the maximum LQD drawdown of -24.95%. Use the drawdown chart below to compare losses from any high point for GSWO and LQD.
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Drawdown Indicators
| GSWO | LQD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.77% | -24.95% | +7.18% |
Max Drawdown (1Y)Largest decline over 1 year | -8.93% | -3.34% | -5.59% |
Max Drawdown (3Y)Largest decline over 3 years | -9.97% | -7.87% | -2.10% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.95% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.95% | — |
Current DrawdownCurrent decline from peak | -1.97% | -5.51% | +3.54% |
Average DrawdownAverage peak-to-trough decline | -3.19% | -3.99% | +0.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.95% | 1.30% | +0.65% |
Volatility
GSWO vs. LQD - Volatility Comparison
Goldman Sachs ActiveBeta World Equity ETF (GSWO) has a higher volatility of 3.09% compared to iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) at 1.28%. This indicates that GSWO's price experiences larger fluctuations and is considered to be riskier 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
| GSWO | LQD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.09% | 1.28% | +1.81% |
Volatility (6M)Calculated over the trailing 6-month period | 10.30% | 4.02% | +6.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.66% | 5.29% | +6.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.02% | 8.64% | +4.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.02% | 8.69% | +4.33% |
GSWO vs. LQD - Expense Ratio Comparison
GSWO has a 0.25% expense ratio, which is higher than LQD's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GSWO vs. LQD - Dividend Comparison
GSWO's dividend yield for the trailing twelve months is around 1.55%, less than LQD's 4.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GSWO Goldman Sachs ActiveBeta World Equity ETF | 1.55% | 1.74% | 1.75% | 2.06% | 1.73% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 4.65% | 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
GSWO and LQD have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSWO has higher volatility (3.09%) compared to LQD (1.28%). In terms of maximum drawdown, GSWO dropped -17.77% vs LQD's -24.95%.
On 3-year performance, GSWO leads with 16.39% vs 4.07% for LQD. On fees, LQD is cheaper at 0.15% per year. On volatility, LQD has been the lower-risk option at 1.28%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GSWO has performed better with a 16.39% return vs 4.07%. 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 0.25% for GSWO.
LQD has the higher dividend yield at 4.65%, compared with 1.55% for GSWO.
GSWO is categorized as Global Equities, while LQD is Corporate Bonds. GSWO tracks Goldman Sachs ActiveBeta World Low Vol Plus Equity Index - Benchmark TR Net, while LQD tracks iBoxx $ Liquid Investment Grade Index. They also come from different issuers: Goldman Sachs and iShares. Their fees differ too: 0.25% for GSWO and 0.15% for LQD.
GSWO currently has the higher Sharpe Ratio (1.31 vs 0.43), 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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