IVOL vs. LQD
Compare and contrast key facts about Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) and iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD).
IVOL and LQD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IVOL is an actively managed fund by CICC. It was launched on May 13, 2019. LQD is a passively managed fund by iShares that tracks the performance of the iBoxx $ Liquid Investment Grade Index. It was launched on Jul 26, 2002.
Performance
IVOL vs. LQD - Performance Comparison
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IVOL vs. LQD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF | -1.46% | 11.97% | -11.07% | -5.18% | -12.69% | -0.31% | 14.56% | 3.23% |
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | -0.38% | 7.90% | 0.86% | 9.40% | -17.92% | -1.84% | 10.97% | 9.84% |
Returns By Period
In the year-to-date period, IVOL achieves a -1.46% return, which is significantly lower than LQD's -0.38% return.
IVOL
- 1D
- -0.05%
- 1M
- -1.70%
- YTD
- -1.46%
- 6M
- -1.19%
- 1Y
- 3.84%
- 3Y*
- -2.83%
- 5Y*
- -4.62%
- 10Y*
- —
LQD
- 1D
- 0.63%
- 1M
- -2.07%
- YTD
- -0.38%
- 6M
- -0.04%
- 1Y
- 4.88%
- 3Y*
- 4.26%
- 5Y*
- 0.09%
- 10Y*
- 2.61%
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IVOL vs. LQD - Expense Ratio Comparison
IVOL has a 0.99% expense ratio, which is higher than LQD's 0.15% expense ratio.
Return for Risk
IVOL vs. LQD — Risk / Return Rank
IVOL
LQD
IVOL vs. LQD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) 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.
| IVOL | LQD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.37 | 0.74 | -0.37 |
Sortino ratioReturn per unit of downside risk | 0.64 | 1.04 | -0.40 |
Omega ratioGain probability vs. loss probability | 1.08 | 1.14 | -0.06 |
Calmar ratioReturn relative to maximum drawdown | 0.55 | 1.50 | -0.95 |
Martin ratioReturn relative to average drawdown | 1.06 | 4.15 | -3.09 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IVOL | LQD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.37 | 0.74 | -0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.36 | 0.01 | -0.37 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.30 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.05 | 0.54 | -0.59 |
Correlation
The correlation between IVOL and LQD is 0.21, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
IVOL vs. LQD - Dividend Comparison
IVOL's dividend yield for the trailing twelve months is around 3.73%, less than LQD's 4.52% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF | 3.73% | 3.61% | 3.83% | 3.73% | 3.92% | 3.93% | 3.44% | 2.02% | 0.00% | 0.00% | 0.00% | 0.00% |
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 4.52% | 4.48% | 4.45% | 3.99% | 3.30% | 2.30% | 2.66% | 3.29% | 3.67% | 3.10% | 3.34% | 3.47% |
Drawdowns
IVOL vs. LQD - Drawdown Comparison
The maximum IVOL drawdown since its inception was -31.16%, which is greater than LQD's maximum drawdown of -24.95%. Use the drawdown chart below to compare losses from any high point for IVOL and LQD.
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Drawdown Indicators
| IVOL | LQD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.16% | -24.95% | -6.21% |
Max Drawdown (1Y)Largest decline over 1 year | -6.72% | -3.38% | -3.34% |
Max Drawdown (5Y)Largest decline over 5 years | -31.16% | -24.95% | -6.21% |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.95% | — |
Current DrawdownCurrent decline from peak | -22.51% | -4.52% | -17.99% |
Average DrawdownAverage peak-to-trough decline | -13.02% | -3.99% | -9.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.50% | 1.22% | +2.28% |
Volatility
IVOL vs. LQD - Volatility Comparison
The current volatility for Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) is 2.34%, while iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) has a volatility of 2.65%. This indicates that IVOL experiences smaller price fluctuations and is considered to be less risky 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
| IVOL | LQD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.34% | 2.65% | -0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 4.41% | 3.76% | +0.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.40% | 6.60% | +3.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.82% | 8.66% | +4.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.11% | 8.67% | +3.44% |