IGHG vs. LQDH
Compare and contrast key facts about ProShares Investment Grade-Interest Rate Hedged (IGHG) and iShares Interest Rate Hedged Corporate Bond ETF (LQDH).
IGHG and LQDH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IGHG is a passively managed fund by ProShares that tracks the performance of the Citi Corporate Investment Grade (Treasury Rate-Hedged) Index. It was launched on Nov 5, 2013. LQDH is an actively managed fund by iShares. It was launched on May 27, 2014.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: IGHG or LQDH.
Key characteristics
| IGHG | LQDH | |
|---|---|---|
| YTD Return | 8.22% | 6.76% |
| 1Y Return | 10.48% | 9.11% |
| 3Y Return (Ann) | 6.00% | 5.25% |
| 5Y Return (Ann) | 4.57% | 4.41% |
| 10Y Return (Ann) | 3.73% | 3.53% |
| Sharpe Ratio | 2.52 | 3.33 |
| Sortino Ratio | 3.60 | 5.01 |
| Omega Ratio | 1.51 | 1.70 |
| Calmar Ratio | 4.03 | 5.21 |
| Martin Ratio | 19.43 | 26.21 |
| Ulcer Index | 0.55% | 0.36% |
| Daily Std Dev | 4.21% | 2.84% |
| Max Drawdown | -25.16% | -24.63% |
| Current Drawdown | -0.24% | -0.48% |
Correlation
The correlation between IGHG and LQDH is 0.50, 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.
Performance
IGHG vs. LQDH - Performance Comparison
In the year-to-date period, IGHG achieves a 8.22% return, which is significantly higher than LQDH's 6.76% return. Over the past 10 years, IGHG has outperformed LQDH with an annualized return of 3.73%, while LQDH has yielded a comparatively lower 3.53% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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IGHG vs. LQDH - Expense Ratio Comparison
IGHG has a 0.30% expense ratio, which is higher than LQDH's 0.25% expense ratio.
Risk-Adjusted Performance
IGHG vs. LQDH - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Investment Grade-Interest Rate Hedged (IGHG) 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.
Dividends
IGHG vs. LQDH - Dividend Comparison
IGHG's dividend yield for the trailing twelve months is around 5.08%, less than LQDH's 8.02% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGHG ProShares Investment Grade-Interest Rate Hedged | 5.08% | 4.99% | 3.55% | 2.50% | 2.78% | 3.48% | 4.13% | 3.36% | 3.37% | 3.64% | 3.59% | 0.55% |
LQDH iShares Interest Rate Hedged Corporate Bond ETF | 8.02% | 7.69% | 3.73% | 1.64% | 2.22% | 3.09% | 5.08% | 2.37% | 2.33% | 2.98% | 2.19% | 0.00% |
Drawdowns
IGHG vs. LQDH - Drawdown Comparison
The maximum IGHG drawdown since its inception was -25.16%, roughly equal to the maximum LQDH drawdown of -24.63%. Use the drawdown chart below to compare losses from any high point for IGHG and LQDH. For additional features, visit the drawdowns tool.
Volatility
IGHG vs. LQDH - Volatility Comparison
ProShares Investment Grade-Interest Rate Hedged (IGHG) has a higher volatility of 1.90% compared to iShares Interest Rate Hedged Corporate Bond ETF (LQDH) at 0.92%. This indicates that IGHG'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.