LKOR vs. IBDR
LKOR (FlexShares Credit-Scored U.S. Long Corporate Bond Index Fund) and IBDR (iShares iBonds Dec 2026 Term Corporate ETF) are both Corporate Bonds funds - LKOR tracks the Northern Trust US Long Corporate Bond Quality Value Index while IBDR tracks the Barclays December 2026 Maturity Corporate Index. Both are passively managed. Over the past 5 years, LKOR returned -1.59%/yr vs 1.50%/yr for IBDR. A 0.56 correlation means they provide meaningful diversification when combined. LKOR charges 0.22%/yr vs 0.10%/yr for IBDR.
Performance
LKOR vs. IBDR - Performance Comparison
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Returns By Period
In the year-to-date period, LKOR achieves a 0.74% return, which is significantly lower than IBDR's 1.44% return.
LKOR
- 1D
- -0.36%
- 1M
- 1.51%
- YTD
- 0.74%
- 6M
- -0.19%
- 1Y
- 7.57%
- 3Y*
- 4.72%
- 5Y*
- -1.59%
- 10Y*
- 2.45%
IBDR
- 1D
- -0.04%
- 1M
- 0.25%
- YTD
- 1.44%
- 6M
- 1.80%
- 1Y
- 4.38%
- 3Y*
- 5.07%
- 5Y*
- 1.50%
- 10Y*
- —
LKOR vs. IBDR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LKOR FlexShares Credit-Scored U.S. Long Corporate Bond Index Fund | 0.74% | 7.04% | -1.02% | 11.64% | -25.55% | -1.51% | 16.00% | 23.97% | -7.61% | 13.87% |
IBDR iShares iBonds Dec 2026 Term Corporate ETF | 1.44% | 4.99% | 4.98% | 5.96% | -8.28% | -1.79% | 8.88% | 14.81% | -2.80% | 5.96% |
Correlation
The correlation between LKOR and IBDR is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Sep 20, 2016 | 0.56 |
Over the past year, the correlation between LKOR and IBDR has dropped to 0.10 - well below their long-term average of 0.56, suggesting their price drivers have been diverging.
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Return for Risk
LKOR vs. IBDR — Risk / Return Rank
LKOR
IBDR
LKOR vs. IBDR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Credit-Scored U.S. Long Corporate Bond Index Fund (LKOR) and iShares iBonds Dec 2026 Term Corporate ETF (IBDR). 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.
| LKOR | IBDR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.98 | ||
| Sortino ratioReturn per unit of downside risk | -13.19 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 3.40 | -2.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.41 | 53.28 | -51.87 |
| Martin ratioReturn relative to average drawdown | 3.43 | 185.24 | -181.81 |
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
| LKOR | IBDR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.95 | 6.93 | -5.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.12 | 0.44 | -0.57 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.61 | -0.36 |
Drawdowns
LKOR vs. IBDR - Drawdown Comparison
The maximum LKOR drawdown since its inception was -34.78%, which is greater than IBDR's maximum drawdown of -16.06%. Use the drawdown chart below to compare losses from any high point for LKOR and IBDR.
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Drawdown Indicators
| LKOR | IBDR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.78% | -16.06% | -18.72% |
Max Drawdown (1Y)Largest decline over 1 year | -5.39% | -0.08% | -5.31% |
Max Drawdown (3Y)Largest decline over 3 years | -12.74% | -1.08% | -11.66% |
Max Drawdown (5Y)Largest decline over 5 years | -34.78% | -13.13% | -21.65% |
Max Drawdown (10Y)Largest decline over 10 years | -34.78% | — | — |
Current DrawdownCurrent decline from peak | -13.63% | -0.04% | -13.59% |
Average DrawdownAverage peak-to-trough decline | -10.36% | -2.84% | -7.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 0.02% | +2.19% |
Volatility
LKOR vs. IBDR - Volatility Comparison
FlexShares Credit-Scored U.S. Long Corporate Bond Index Fund (LKOR) has a higher volatility of 2.41% compared to iShares iBonds Dec 2026 Term Corporate ETF (IBDR) at 0.15%. This indicates that LKOR's price experiences larger fluctuations and is considered to be riskier than IBDR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LKOR | IBDR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.41% | 0.15% | +2.26% |
Volatility (6M)Calculated over the trailing 6-month period | 5.76% | 0.34% | +5.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.00% | 0.64% | +7.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.90% | 3.40% | +9.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.22% | 4.86% | +8.36% |
LKOR vs. IBDR - Expense Ratio Comparison
LKOR has a 0.22% expense ratio, which is higher than IBDR's 0.10% 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
LKOR vs. IBDR - Dividend Comparison
LKOR's dividend yield for the trailing twelve months is around 5.72%, more than IBDR's 4.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBDR iShares iBonds Dec 2026 Term Corporate ETF | 4.13% | 4.20% | 4.13% | 3.41% | 2.44% | 2.11% | 2.61% | 3.25% | 3.56% | 3.22% | 0.86% | 0.00% |
LKOR FlexShares Credit-Scored U.S. Long Corporate Bond Index Fund | 5.72% | 5.57% | 5.52% | 4.90% | 4.71% | 4.73% | 6.56% | 3.71% | 4.21% | 3.77% | 5.53% | 1.22% |
Frequently Asked Questions
LKOR and IBDR have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LKOR has higher volatility (2.41%) compared to IBDR (0.15%). In terms of maximum drawdown, LKOR dropped -34.78% vs IBDR's -16.06%.
On 5-year performance, IBDR leads with 1.50% vs -1.59% for LKOR. On fees, IBDR is cheaper at 0.10% per year. On volatility, IBDR has been the lower-risk option at 0.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IBDR has performed better with a 1.50% return vs -1.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBDR is cheaper with a 0.10% expense ratio, compared with 0.22% for LKOR.
LKOR has the higher dividend yield at 5.72%, compared with 4.13% for IBDR.
LKOR tracks Northern Trust US Long Corporate Bond Quality Value Index, while IBDR tracks Barclays December 2026 Maturity Corporate Index. They also come from different issuers: Northern Trust and iShares. Their fees differ too: 0.22% for LKOR and 0.10% for IBDR.
IBDR currently has the higher Sharpe Ratio (6.93 vs 0.95), 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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