HSY vs. LQD
HSY (The Hershey Company) is a stock, while LQD (iShares iBoxx $ Investment Grade Corporate Bond ETF) is Corporate Bonds fund tracking the iBoxx $ Liquid Investment Grade Index. Over the past 10 years, HSY returned 9.11%/yr vs 2.54%/yr for LQD. At a 0.04 correlation, their price movements are largely independent.
Performance
HSY vs. LQD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HSY achieves a 1.25% return, which is significantly higher than LQD's 0.82% return. Over the past 10 years, HSY has outperformed LQD with an annualized return of 9.11%, while LQD has yielded a comparatively lower 2.54% annualized return.
HSY
- 1D
- 0.45%
- 1M
- -3.82%
- YTD
- 1.25%
- 6M
- 1.34%
- 1Y
- 10.63%
- 3Y*
- -8.39%
- 5Y*
- 3.29%
- 10Y*
- 9.11%
LQD
- 1D
- -0.06%
- 1M
- 0.80%
- YTD
- 0.82%
- 6M
- 1.24%
- 1Y
- 5.80%
- 3Y*
- 5.30%
- 5Y*
- -0.21%
- 10Y*
- 2.54%
HSY vs. LQD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HSY The Hershey Company | 1.25% | 10.98% | -6.51% | -17.88% | 21.86% | 29.58% | 5.90% | 40.20% | -2.92% | 12.33% |
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 0.82% | 7.90% | 0.86% | 9.40% | -17.92% | -1.84% | 10.97% | 17.37% | -3.79% | 7.06% |
Correlation
The correlation between HSY and LQD is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2002 | 0.04 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HSY vs. LQD — Risk / Return Rank
HSY
LQD
HSY vs. LQD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The Hershey Company (HSY) 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.
| HSY | LQD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.65 | ||
| Sortino ratioReturn per unit of downside risk | -0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.17 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.35 | 1.55 | -1.20 |
| Martin ratioReturn relative to average drawdown | 0.87 | 4.37 | -3.50 |
Loading charts...
Drawdowns
HSY vs. LQD - Drawdown Comparison
The maximum HSY drawdown since its inception was -49.15%, which is greater than LQD's maximum drawdown of -24.95%. Use the drawdown chart below to compare losses from any high point for HSY and LQD.
Loading charts...
Drawdown Indicators
| HSY | LQD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.15% | -24.95% | -24.20% |
Max Drawdown (1Y)Largest decline over 1 year | -25.01% | -3.34% | -21.67% |
Max Drawdown (3Y)Largest decline over 3 years | -42.23% | -8.43% | -33.80% |
Max Drawdown (5Y)Largest decline over 5 years | -45.25% | -24.95% | -20.30% |
Max Drawdown (10Y)Largest decline over 10 years | -45.25% | -24.95% | -20.30% |
Current DrawdownCurrent decline from peak | -28.02% | -3.37% | -24.65% |
Average DrawdownAverage peak-to-trough decline | -13.10% | -3.99% | -9.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.00% | 1.19% | +8.81% |
Volatility
HSY vs. LQD - Volatility Comparison
The Hershey Company (HSY) has a higher volatility of 9.48% compared to iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) at 1.78%. This indicates that HSY'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.
Loading charts...
Volatility by Period
| HSY | LQD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.48% | 1.78% | +7.70% |
Volatility (6M)Calculated over the trailing 6-month period | 20.08% | 4.02% | +16.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.49% | 5.37% | +22.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.77% | 8.65% | +14.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.44% | 8.69% | +14.75% |
Dividends
HSY vs. LQD - Dividend Comparison
HSY's dividend yield for the trailing twelve months is around 3.11%, less than LQD's 4.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HSY The Hershey Company | 3.11% | 3.01% | 3.24% | 2.39% | 1.67% | 1.76% | 2.07% | 2.03% | 2.57% | 2.24% | 2.32% | 2.50% |
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 4.55% | 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
HSY and LQD have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HSY has higher volatility (9.48%) compared to LQD (1.78%). In terms of maximum drawdown, HSY dropped -49.15% vs LQD's -24.95%.
LQD currently has the higher Sharpe Ratio (0.97 vs 0.32), 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.
Find the right allocation for HSY and LQD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer