IJS vs. LQD
IJS (iShares S&P SmallCap 600 Value ETF) and LQD (iShares iBoxx $ Investment Grade Corporate Bond ETF) are both exchange-traded funds - IJS is a Small Cap Value Equities fund tracking the S&P SmallCap 600 Value Index, while LQD is a Corporate Bonds fund tracking the iBoxx $ Liquid Investment Grade Index. Both are passively managed. Over the past 10 years, IJS returned 10.41%/yr vs 2.53%/yr for LQD. At a 0.01 correlation, their price movements are largely independent. IJS charges 0.25%/yr vs 0.15%/yr for LQD.
Performance
IJS vs. LQD - Performance Comparison
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Returns By Period
In the year-to-date period, IJS achieves a 18.07% return, which is significantly higher than LQD's 0.88% return. Over the past 10 years, IJS has outperformed LQD with an annualized return of 10.41%, while LQD has yielded a comparatively lower 2.53% annualized return.
IJS
- 1D
- 1.81%
- 1M
- 5.44%
- YTD
- 18.07%
- 6M
- 14.10%
- 1Y
- 37.03%
- 3Y*
- 14.24%
- 5Y*
- 5.96%
- 10Y*
- 10.41%
LQD
- 1D
- 0.85%
- 1M
- 0.86%
- YTD
- 0.88%
- 6M
- 0.69%
- 1Y
- 5.82%
- 3Y*
- 5.17%
- 5Y*
- -0.20%
- 10Y*
- 2.53%
IJS vs. LQD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IJS iShares S&P SmallCap 600 Value ETF | 18.07% | 6.54% | 7.33% | 14.68% | -11.34% | 30.53% | 2.63% | 24.11% | -12.86% | 11.35% |
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 0.88% | 7.90% | 0.86% | 9.40% | -17.92% | -1.84% | 10.97% | 17.37% | -3.79% | 7.06% |
Correlation
The correlation between IJS and LQD is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2002 | 0.01 |
Over the past year, IJS and LQD have become more correlated (0.42) than their long-term average of 0.01, meaning their price movements have been converging.
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Return for Risk
IJS vs. LQD — Risk / Return Rank
IJS
LQD
IJS vs. LQD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P SmallCap 600 Value ETF (IJS) 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.
| IJS | LQD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.94 | ||
| Sortino ratioReturn per unit of downside risk | +1.29 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.19 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 4.01 | 1.75 | +2.26 |
| Martin ratioReturn relative to average drawdown | 13.18 | 4.92 | +8.27 |
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Drawdowns
IJS vs. LQD - Drawdown Comparison
The maximum IJS drawdown since its inception was -60.11%, which is greater than LQD's maximum drawdown of -24.95%. Use the drawdown chart below to compare losses from any high point for IJS and LQD.
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Drawdown Indicators
| IJS | LQD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.11% | -24.95% | -35.16% |
Max Drawdown (1Y)Largest decline over 1 year | -9.28% | -3.34% | -5.94% |
Max Drawdown (3Y)Largest decline over 3 years | -28.65% | -8.43% | -20.22% |
Max Drawdown (5Y)Largest decline over 5 years | -28.65% | -24.95% | -3.70% |
Max Drawdown (10Y)Largest decline over 10 years | -47.68% | -24.95% | -22.73% |
Current DrawdownCurrent decline from peak | 0.00% | -3.31% | +3.31% |
Average DrawdownAverage peak-to-trough decline | -9.88% | -3.99% | -5.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.82% | 1.19% | +1.63% |
Volatility
IJS vs. LQD - Volatility Comparison
iShares S&P SmallCap 600 Value ETF (IJS) has a higher volatility of 4.88% compared to iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) at 1.77%. This indicates that IJS'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
| IJS | LQD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.88% | 1.77% | +3.11% |
Volatility (6M)Calculated over the trailing 6-month period | 11.82% | 4.04% | +7.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.38% | 5.38% | +13.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.00% | 8.65% | +13.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.60% | 8.69% | +14.91% |
IJS vs. LQD - Expense Ratio Comparison
IJS 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
IJS vs. LQD - Dividend Comparison
IJS's dividend yield for the trailing twelve months is around 1.26%, less than LQD's 4.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IJS iShares S&P SmallCap 600 Value ETF | 1.26% | 1.62% | 1.78% | 1.42% | 1.46% | 1.52% | 1.00% | 1.66% | 1.75% | 1.41% | 1.22% | 1.59% |
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
IJS and LQD have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IJS has higher volatility (4.88%) compared to LQD (1.77%). In terms of maximum drawdown, IJS dropped -60.11% vs LQD's -24.95%.
On 10-year performance, IJS leads with 10.41% vs 2.53% for LQD. On fees, LQD is cheaper at 0.15% per year. On volatility, LQD has been the lower-risk option at 1.77%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IJS has performed better with a 10.41% return vs 2.53%. 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 IJS.
LQD has the higher dividend yield at 4.55%, compared with 1.26% for IJS.
IJS is categorized as Small Cap Value Equities, while LQD is Corporate Bonds. IJS tracks S&P SmallCap 600 Value Index, while LQD tracks iBoxx $ Liquid Investment Grade Index. Their fees differ too: 0.25% for IJS and 0.15% for LQD.
IJS currently has the higher Sharpe Ratio (2.03 vs 1.09), 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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