HYGW vs. LQDW
Compare and contrast key facts about iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) and iShares Investment Grade Corporate Bond Buywrite Strategy ETF (LQDW).
HYGW and LQDW are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HYGW is a passively managed fund by iShares that tracks the performance of the Cboe HYG BuyWrite Index. It was launched on Aug 18, 2022. LQDW is a passively managed fund by iShares that tracks the performance of the CBOE LQD BuyWrite Index. It was launched on Aug 18, 2022. Both HYGW and LQDW are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: HYGW or LQDW.
Performance
HYGW vs. LQDW - Performance Comparison
Returns By Period
In the year-to-date period, HYGW achieves a 7.08% return, which is significantly higher than LQDW's 2.60% return.
HYGW
7.08%
0.80%
3.96%
8.73%
N/A
N/A
LQDW
2.60%
-0.27%
2.52%
3.79%
N/A
N/A
Key characteristics
| HYGW | LQDW | |
|---|---|---|
| Sharpe Ratio | 3.28 | 0.84 |
| Sortino Ratio | 5.05 | 1.15 |
| Omega Ratio | 1.71 | 1.16 |
| Calmar Ratio | 5.41 | 0.73 |
| Martin Ratio | 31.79 | 3.07 |
| Ulcer Index | 0.27% | 1.23% |
| Daily Std Dev | 2.66% | 4.49% |
| Max Drawdown | -5.49% | -9.20% |
| Current Drawdown | -0.52% | -2.82% |
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HYGW vs. LQDW - Expense Ratio Comparison
HYGW has a 0.69% expense ratio, which is higher than LQDW's 0.34% expense ratio.
Correlation
The correlation between HYGW and LQDW is 0.60, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Risk-Adjusted Performance
HYGW vs. LQDW - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) 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.
Dividends
HYGW vs. LQDW - Dividend Comparison
HYGW's dividend yield for the trailing twelve months is around 12.59%, less than LQDW's 16.50% yield.
| TTM | 2023 | 2022 | |
|---|---|---|---|
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 12.59% | 15.98% | 8.72% |
LQDW iShares Investment Grade Corporate Bond Buywrite Strategy ETF | 16.50% | 19.28% | 8.85% |
Drawdowns
HYGW vs. LQDW - Drawdown Comparison
The maximum HYGW drawdown since its inception was -5.49%, smaller than the maximum LQDW drawdown of -9.20%. Use the drawdown chart below to compare losses from any high point for HYGW and LQDW. For additional features, visit the drawdowns tool.
Volatility
HYGW vs. LQDW - Volatility Comparison
The current volatility for iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) is 1.07%, while iShares Investment Grade Corporate Bond Buywrite Strategy ETF (LQDW) has a volatility of 1.85%. This indicates that HYGW experiences smaller price fluctuations and is considered to be less risky than LQDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.