LIAE vs. LIBD

Last updated Aug 1, 2026

LIAE (LifeX 2050 Inflation-Protected Longevity Income ETF) and LIBD (LifeX 2065 Inflation-Protected Longevity Income ETF) are both Inflation-Protected Bonds funds from Stone Ridge. Both are actively managed. Over the past year, LIAE returned -0.09% vs -2.03% for LIBD. Their 0.97 correlation means they have historically moved very closely together. Both charge a 0.25% expense ratio.

Performance

LIAE vs. LIBD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LifeX 2050 Inflation-Protected Longevity Income ETF (LIAE) and LifeX 2065 Inflation-Protected Longevity Income ETF (LIBD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LIAE achieves a -1.55% return, which is significantly higher than LIBD's -2.94% return.

LIAE

• 1D: -0.36%
• 1M: -2.05%
• 6M: -1.57%
• YTD: -1.55%
• 1Y: -0.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -1.01%

LIBD

• 1D: -0.53%
• 1M: -3.26%
• 6M: -2.95%
• YTD: -2.94%
• 1Y: -2.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -2.29%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
LIAE LifeX 2050 Inflation-Protected Longevity Income ETF	$11.56K	$7.81K	$11.30K
LIBD LifeX 2065 Inflation-Protected Longevity Income ETF	$6.78K	$11.16K	$6.65K

LIAE vs. LIBD - Yearly Performance Comparison

	2026 (YTD)	2025
LIAE LifeX 2050 Inflation-Protected Longevity Income ETF	-1.55%	6.46%
LIBD LifeX 2065 Inflation-Protected Longevity Income ETF	-2.94%	-0.63%

Correlation

The correlation between LIAE and LIBD is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.97
Correlation (All Time) Calculated using the full available price history since Jan 6, 2025	0.97

The correlation between LIAE and LIBD has been stable across timeframes, ranging from 0.97 to 0.97 - a consistent structural relationship.

Return for Risk

LIAE vs. LIBD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

LIAE

LIAE Risk / Return Rank: 13
LIAE Sharpe Ratio Rank: 14
LIAE Sortino Ratio Rank: 12
LIAE Omega Ratio Rank: 12
LIAE Calmar Ratio Rank: 14
LIAE Martin Ratio Rank: 14

LIBD

LIBD Risk / Return Rank: 8
LIBD Sharpe Ratio Rank: 9
LIBD Sortino Ratio Rank: 8
LIBD Omega Ratio Rank: 8
LIBD Calmar Ratio Rank: 8
LIBD Martin Ratio Rank: 8

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

LIAE vs. LIBD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LifeX 2050 Inflation-Protected Longevity Income ETF (LIAE) and LifeX 2065 Inflation-Protected Longevity Income ETF (LIBD). 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.

	LIAE	LIBD	Difference
Sharpe ratio: Return per unit of total volatility	0.12	-0.16	+0.29
Sortino ratio: Return per unit of downside risk	0.21	-0.17	+0.39
Omega ratio: Gain probability vs. loss probability	1.02	0.98	+0.04
Calmar ratio: Return relative to maximum drawdown	0.18	-0.18	+0.37
Martin ratio: Return relative to average drawdown	0.40	-0.38	+0.77

LIAE vs. LIBD - Sharpe Ratio Comparison

The current LIAE Sharpe Ratio is 0.12, which is higher than the LIBD Sharpe Ratio of -0.16. The chart below compares the historical Sharpe Ratios of LIAE and LIBD, 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

LIAE vs. LIBD - Drawdown Comparison

The maximum LIAE drawdown since its inception was -7.03%, roughly equal to the maximum LIBD drawdown of -7.31%. Use the drawdown chart below to compare losses from any high point for LIAE and LIBD.

Drawdown Indicators

	LIAE	LIBD	Difference
Max Drawdown Largest peak-to-trough decline	-7.03%	-7.31%	+0.28%
Max Drawdown (1Y) Largest decline over 1 year	-3.75%	-6.96%	+3.21%
Current Drawdown Current decline from peak	-3.75%	-6.96%	+3.21%
Average Drawdown Average peak-to-trough decline	-2.48%	-3.46%	+0.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.71%	3.40%	-1.69%

Volatility

LIAE vs. LIBD - Volatility Comparison

The current volatility for LifeX 2050 Inflation-Protected Longevity Income ETF (LIAE) is 1.23%, while LifeX 2065 Inflation-Protected Longevity Income ETF (LIBD) has a volatility of 1.81%. This indicates that LIAE experiences smaller price fluctuations and is considered to be less risky than LIBD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LIAE	LIBD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.23%	1.81%	-0.58%
Volatility (6M) Calculated over the trailing 6-month period	4.12%	5.85%	-1.73%
Volatility (1Y) Calculated over the trailing 1-year period	5.44%	7.85%	-2.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.49%	9.94%	-3.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.49%	9.94%	-3.45%

LIAE vs. LIBD - Expense Ratio Comparison

Both LIAE and LIBD 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

LIAE vs. LIBD - Dividend Comparison

LIAE's dividend yield for the trailing twelve months is around 9.89%, less than LIBD's 11.89% yield.

Position	TTM	2025	2024
LIAE LifeX 2050 Inflation-Protected Longevity Income ETF	9.89%	10.56%	1.47%
LIBD LifeX 2065 Inflation-Protected Longevity Income ETF	11.89%	13.52%	0.00%

Frequently Asked Questions

Can I hold both LIAE and LIBD in my portfolio?

With a correlation of 0.97, LIAE and LIBD 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, LIAE or LIBD?

LIBD has higher volatility (1.81%) compared to LIAE (1.23%). In terms of maximum drawdown, LIAE dropped -7.03% vs LIBD's -7.31%.

Which ETF is better, LIAE or LIBD?

On 1-year performance, LIAE leads with -0.09% vs -2.03% for LIBD. Both ETFs have the same 0.25% expense ratio. On volatility, LIAE has been the lower-risk option at 1.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LIAE or LIBD?

Over the 1-year period, LIAE has performed better with a -0.09% return vs -2.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LIAE or LIBD?

LIAE and LIBD have the same expense ratio: 0.25% per year.

Which ETF pays a higher dividend yield, LIAE or LIBD?

LIBD has the higher dividend yield at 11.89%, compared with 9.89% for LIAE.

Which has better risk-adjusted returns?

LIAE currently has the higher Sharpe Ratio (0.12 vs -0.16), 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.