LFDR vs. LFBE

Last updated Jun 23, 2026

LFDR (LifeX Durable Income ETF) and LFBE (LifeX 2065 Longevity Income ETF) are both Government Bonds funds from Stone Ridge. Both are actively managed. Over the past year, LFDR returned 3.80% vs 3.74% for LFBE. With a 1.00 correlation, they move nearly in lockstep. Both charge a 0.25% expense ratio.

Performance

LFDR vs. LFBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LifeX Durable Income ETF (LFDR) and LifeX 2065 Longevity Income ETF (LFBE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with LFDR having a 0.36% return and LFBE slightly higher at 0.37%.

LFDR

• 1D: -0.61%
• 1M: 1.81%
• YTD: 0.36%
• 6M: 0.30%
• 1Y: 3.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

LFBE

• 1D: -0.61%
• 1M: 1.82%
• YTD: 0.37%
• 6M: 0.31%
• 1Y: 3.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LFDR vs. LFBE - Yearly Performance Comparison

	2026 (YTD)	2025
LFDR LifeX Durable Income ETF	0.36%	5.06%
LFBE LifeX 2065 Longevity Income ETF	0.37%	5.14%

Correlation

The correlation between LFDR and LFBE is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (All Time) Calculated using the full available price history since Jan 6, 2025	1.00

The correlation between LFDR and LFBE has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

LFDR vs. LFBE — Risk / Return Rank

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

LFDR

LFDR Risk / Return Rank: 15
LFDR Sharpe Ratio Rank: 16
LFDR Sortino Ratio Rank: 15
LFDR Omega Ratio Rank: 13
LFDR Calmar Ratio Rank: 15
LFDR Martin Ratio Rank: 15

LFBE

LFBE Risk / Return Rank: 14
LFBE Sharpe Ratio Rank: 15
LFBE Sortino Ratio Rank: 14
LFBE Omega Ratio Rank: 13
LFBE Calmar Ratio Rank: 15
LFBE Martin Ratio Rank: 15

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.

LFDR vs. LFBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LifeX Durable Income ETF (LFDR) and LifeX 2065 Longevity Income ETF (LFBE). 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.

	LFDR	LFBE	Difference
Sharpe ratio: Return per unit of total volatility	0.47	0.46	0.00
Sortino ratio: Return per unit of downside risk	0.73	0.72	+0.01
Omega ratio: Gain probability vs. loss probability	1.08	1.08	0.00
Calmar ratio: Return relative to maximum drawdown	0.57	0.56	+0.01
Martin ratio: Return relative to average drawdown	1.41	1.39	+0.02

LFDR vs. LFBE - Sharpe Ratio Comparison

The current LFDR Sharpe Ratio is 0.47, which is comparable to the LFBE Sharpe Ratio of 0.46. The chart below compares the historical Sharpe Ratios of LFDR and LFBE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

LFDR vs. LFBE - Drawdown Comparison

The maximum LFDR drawdown since its inception was -7.77%, roughly equal to the maximum LFBE drawdown of -7.65%. Use the drawdown chart below to compare losses from any high point for LFDR and LFBE.

Drawdown Indicators

	LFDR	LFBE	Difference
Max Drawdown Largest peak-to-trough decline	-7.77%	-7.65%	-0.12%
Max Drawdown (1Y) Largest decline over 1 year	-6.75%	-6.76%	+0.01%
Current Drawdown Current decline from peak	-3.40%	-3.38%	-0.02%
Average Drawdown Average peak-to-trough decline	-2.97%	-2.92%	-0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.69%	2.70%	-0.01%

Volatility

LFDR vs. LFBE - Volatility Comparison

LifeX Durable Income ETF (LFDR) and LifeX 2065 Longevity Income ETF (LFBE) have volatilities of 1.94% and 1.94%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LFDR	LFBE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.94%	1.94%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	5.84%	5.86%	-0.02%
Volatility (1Y) Calculated over the trailing 1-year period	8.17%	8.12%	+0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.55%	9.31%	+0.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.55%	9.31%	+0.24%

LFDR vs. LFBE - Expense Ratio Comparison

Both LFDR and LFBE have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

LFDR vs. LFBE - Dividend Comparison

LFDR's dividend yield for the trailing twelve months is around 8.21%, which matches LFBE's 8.23% yield.

Position	TTM	2025
LFBE LifeX 2065 Longevity Income ETF	8.23%	12.22%
LFDR LifeX Durable Income ETF	8.21%	13.10%

Frequently Asked Questions

Can I hold both LFDR and LFBE in my portfolio?

With a correlation of 1.00, LFDR and LFBE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, LFDR or LFBE?

LFBE has higher volatility (1.94%) compared to LFDR (1.94%). In terms of maximum drawdown, LFDR dropped -7.77% vs LFBE's -7.65%.

Which ETF is better, LFDR or LFBE?

On 1-year performance, LFDR leads with 3.80% vs 3.74% for LFBE. Both ETFs have the same 0.25% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LFDR or LFBE?

Over the 1-year period, LFDR has performed better with a 3.80% return vs 3.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LFDR or LFBE?

LFDR and LFBE have the same expense ratio: 0.25% per year.

Which ETF pays a higher dividend yield, LFDR or LFBE?

LFBE has the higher dividend yield at 8.23%, compared with 8.21% for LFDR.

Which has better risk-adjusted returns?

LFDR currently has the higher Sharpe Ratio (0.47 vs 0.46), 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.