IGBH vs. LQDH

Last updated Jun 3, 2026

IGBH (iShares Interest Rate Hedged Long-Term Corporate Bond ETF) and LQDH (iShares Interest Rate Hedged Corporate Bond ETF) are both Corporate Bonds funds from iShares. IGBH is passively managed, while LQDH is actively managed. Over the past 10 years, IGBH returned 5.05%/yr vs 4.65%/yr for LQDH. A 0.68 correlation means they provide meaningful diversification when combined. IGBH charges 0.16%/yr vs 0.25%/yr for LQDH.

Performance

IGBH vs. LQDH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Interest Rate Hedged Long-Term Corporate Bond ETF (IGBH) and iShares Interest Rate Hedged Corporate Bond ETF (LQDH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with IGBH having a 2.43% return and LQDH slightly lower at 2.40%. Over the past 10 years, IGBH has outperformed LQDH with an annualized return of 5.05%, while LQDH has yielded a comparatively lower 4.65% annualized return.

IGBH

• 1D: -0.08%
• 1M: 1.79%
• YTD: 2.43%
• 6M: 3.28%
• 1Y: 9.61%
• 3Y*: 9.00%
• 5Y*: 5.37%
• 10Y*: 5.05%

LQDH

• 1D: 0.03%
• 1M: 1.38%
• YTD: 2.40%
• 6M: 3.24%
• 1Y: 7.79%
• 3Y*: 8.11%
• 5Y*: 5.32%
• 10Y*: 4.65%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IGBH vs. LQDH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IGBH iShares Interest Rate Hedged Long-Term Corporate Bond ETF	2.43%	7.90%	7.80%	12.12%	-2.82%	2.20%	1.09%	9.62%	-4.54%	9.36%
LQDH iShares Interest Rate Hedged Corporate Bond ETF	2.40%	7.00%	7.43%	11.14%	-1.88%	1.84%	1.68%	9.50%	-2.20%	6.00%

Correlation

The correlation between IGBH and LQDH is 0.85, 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	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Sep 14, 2015	0.68

The correlation between IGBH and LQDH shifts across timeframes, from 0.68 (all time) to 0.85 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

IGBH vs. LQDH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IGBH

IGBH Risk / Return Rank: 65
IGBH Sharpe Ratio Rank: 72
IGBH Sortino Ratio Rank: 79
IGBH Omega Ratio Rank: 77
IGBH Calmar Ratio Rank: 47
IGBH Martin Ratio Rank: 50

LQDH

LQDH Risk / Return Rank: 82
LQDH Sharpe Ratio Rank: 86
LQDH Sortino Ratio Rank: 91
LQDH Omega Ratio Rank: 90
LQDH Calmar Ratio Rank: 69
LQDH Martin Ratio Rank: 76

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IGBH vs. LQDH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Interest Rate Hedged Long-Term Corporate Bond ETF (IGBH) 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.

	IGBH	LQDH	Difference
Sharpe ratio Return per unit of total volatility	2.38	2.90	-0.51
Sortino ratio Return per unit of downside risk	3.58	4.40	-0.82
Omega ratio Gain probability vs. loss probability	1.46	1.58	-0.12
Calmar ratio Return relative to maximum drawdown	2.35	3.47	-1.12
Martin ratio Return relative to average drawdown	8.63	14.76	-6.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IGBH vs. LQDH - Sharpe Ratio Comparison

The current IGBH Sharpe Ratio is 2.38, which is comparable to the LQDH Sharpe Ratio of 2.90. The chart below compares the historical Sharpe Ratios of IGBH and LQDH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IGBH	LQDH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.38	2.90	-0.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.88	1.21	-0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.72	-0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.59	-0.07

Drawdowns

IGBH vs. LQDH - Drawdown Comparison

The maximum IGBH drawdown since its inception was -33.67%, which is greater than LQDH's maximum drawdown of -24.63%. Use the drawdown chart below to compare losses from any high point for IGBH and LQDH.

Drawdown Indicators

	IGBH	LQDH	Difference
Max Drawdown Largest peak-to-trough decline	-33.67%	-24.63%	-9.04%
Max Drawdown (1Y) Largest decline over 1 year	-4.24%	-2.34%	-1.90%
Max Drawdown (3Y) Largest decline over 3 years	-6.93%	-4.86%	-2.07%
Max Drawdown (5Y) Largest decline over 5 years	-10.48%	-7.08%	-3.40%
Max Drawdown (10Y) Largest decline over 10 years	-33.67%	-24.63%	-9.04%
Current Drawdown Current decline from peak	-0.08%	0.00%	-0.08%
Average Drawdown Average peak-to-trough decline	-2.67%	-1.68%	-0.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.15%	0.55%	+0.60%

Volatility

IGBH vs. LQDH - Volatility Comparison

iShares Interest Rate Hedged Long-Term Corporate Bond ETF (IGBH) has a higher volatility of 0.87% compared to iShares Interest Rate Hedged Corporate Bond ETF (LQDH) at 0.48%. This indicates that IGBH'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.

Volatility by Period

	IGBH	LQDH	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.87%	0.48%	+0.39%
Volatility (6M) Calculated over the trailing 6-month period	3.14%	2.03%	+1.11%
Volatility (1Y) Calculated over the trailing 1-year period	4.06%	2.72%	+1.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.13%	4.41%	+1.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.21%	6.44%	+2.77%

IGBH vs. LQDH - Expense Ratio Comparison

IGBH has a 0.16% expense ratio, which is lower than LQDH's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IGBH vs. LQDH - Dividend Comparison

IGBH's dividend yield for the trailing twelve months is around 6.19%, less than LQDH's 6.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IGBH iShares Interest Rate Hedged Long-Term Corporate Bond ETF	5.66%	6.23%	6.88%	7.32%	3.84%	2.71%	2.39%	3.40%	5.56%	2.87%	2.62%	1.12%
LQDH iShares Interest Rate Hedged Corporate Bond ETF	5.94%	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

Can I hold both IGBH and LQDH in my portfolio?

IGBH and LQDH have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IGBH or LQDH?

IGBH has higher volatility (0.87%) compared to LQDH (0.48%). In terms of maximum drawdown, IGBH dropped -33.67% vs LQDH's -24.63%.

Which ETF is better, IGBH or LQDH?

On 10-year performance, IGBH leads with 5.05% vs 4.65% for LQDH. On fees, IGBH is cheaper at 0.16% per year. On volatility, LQDH has been the lower-risk option at 0.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IGBH or LQDH?

Over the 10-year period, IGBH has performed better with a 5.05% return vs 4.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IGBH or LQDH?

IGBH is cheaper with a 0.16% expense ratio, compared with 0.25% for LQDH.

Which ETF pays a higher dividend yield, IGBH or LQDH?

LQDH has the higher dividend yield at 6.47%, compared with 6.19% for IGBH.

What is the main difference between IGBH and LQDH?

Their fees differ too: 0.16% for IGBH and 0.25% for LQDH.

Which has better risk-adjusted returns?

LQDH currently has the higher Sharpe Ratio (2.90 vs 2.38), 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.