LQD vs. BIZD
LQD (iShares iBoxx $ Investment Grade Corporate Bond ETF) and BIZD (VanEck BDC Income ETF) are both exchange-traded funds - LQD is a Corporate Bonds fund tracking the iBoxx $ Liquid Investment Grade Index, while BIZD is a Financials Equities fund tracking the MVIS US Business Development Companies Index. Both are passively managed. Over the past 10 years, LQD returned 2.48%/yr vs 7.56%/yr for BIZD. At a 0.12 correlation, their price movements are largely independent. LQD charges 0.15%/yr vs 12.86%/yr for BIZD.
Performance
LQD vs. BIZD - Performance Comparison
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Returns By Period
In the year-to-date period, LQD achieves a 0.73% return, which is significantly higher than BIZD's -9.87% return. Over the past 10 years, LQD has underperformed BIZD with an annualized return of 2.48%, while BIZD has yielded a comparatively higher 7.56% annualized return.
LQD
- 1D
- 0.12%
- 1M
- 0.88%
- YTD
- 0.73%
- 6M
- 0.70%
- 1Y
- 5.10%
- 3Y*
- 4.92%
- 5Y*
- -0.25%
- 10Y*
- 2.48%
BIZD
- 1D
- 0.65%
- 1M
- -0.65%
- YTD
- -9.87%
- 6M
- -8.40%
- 1Y
- -12.75%
- 3Y*
- 5.35%
- 5Y*
- 3.92%
- 10Y*
- 7.56%
LQD vs. BIZD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 0.73% | 7.90% | 0.86% | 9.40% | -17.92% | -1.84% | 10.97% | 17.37% | -3.79% | 7.06% |
BIZD VanEck BDC Income ETF | -9.87% | -4.96% | 15.63% | 27.02% | -8.51% | 36.25% | -7.12% | 30.87% | -6.88% | 0.36% |
Correlation
The correlation between LQD and BIZD is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Feb 12, 2013 | 0.12 |
The correlation between LQD and BIZD shifts across timeframes, from 0.12 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
LQD vs. BIZD — Risk / Return Rank
LQD
BIZD
LQD vs. BIZD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) and VanEck BDC Income ETF (BIZD). 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.
| LQD | BIZD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.66 | ||
| Sortino ratioReturn per unit of downside risk | +2.31 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 0.90 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 1.53 | -0.58 | +2.11 |
| Martin ratioReturn relative to average drawdown | 4.28 | -0.96 | +5.24 |
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Drawdowns
LQD vs. BIZD - Drawdown Comparison
The maximum LQD drawdown since its inception was -24.95%, smaller than the maximum BIZD drawdown of -55.44%. Use the drawdown chart below to compare losses from any high point for LQD and BIZD.
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Drawdown Indicators
| LQD | BIZD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.95% | -55.44% | +30.49% |
Max Drawdown (1Y)Largest decline over 1 year | -3.34% | -22.22% | +18.88% |
Max Drawdown (3Y)Largest decline over 3 years | -8.43% | -22.56% | +14.13% |
Max Drawdown (5Y)Largest decline over 5 years | -24.95% | -22.91% | -2.04% |
Max Drawdown (10Y)Largest decline over 10 years | -24.95% | -55.44% | +30.49% |
Current DrawdownCurrent decline from peak | -3.46% | -20.05% | +16.59% |
Average DrawdownAverage peak-to-trough decline | -3.99% | -6.76% | +2.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.19% | 13.30% | -12.11% |
Volatility
LQD vs. BIZD - Volatility Comparison
The current volatility for iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) is 1.42%, while VanEck BDC Income ETF (BIZD) has a volatility of 5.60%. This indicates that LQD experiences smaller price fluctuations and is considered to be less risky than BIZD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LQD | BIZD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.42% | 5.60% | -4.18% |
Volatility (6M)Calculated over the trailing 6-month period | 3.98% | 15.19% | -11.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.32% | 18.50% | -13.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.65% | 17.44% | -8.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.69% | 21.78% | -13.09% |
LQD vs. BIZD - Expense Ratio Comparison
LQD has a 0.15% expense ratio, which is lower than BIZD's 12.86% expense ratio.
Dividends
LQD vs. BIZD - Dividend Comparison
LQD's dividend yield for the trailing twelve months is around 4.56%, less than BIZD's 14.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIZD VanEck BDC Income ETF | 14.01% | 11.78% | 10.94% | 10.96% | 11.21% | 8.14% | 10.39% | 9.13% | 10.88% | 9.13% | 8.51% | 9.12% |
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 4.56% | 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
LQD and BIZD have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BIZD has higher volatility (5.60%) compared to LQD (1.42%). In terms of maximum drawdown, LQD dropped -24.95% vs BIZD's -55.44%.
On 10-year performance, BIZD leads with 7.56% vs 2.48% for LQD. On fees, LQD is cheaper at 0.15% per year. On volatility, LQD has been the lower-risk option at 1.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, BIZD has performed better with a 7.56% return vs 2.48%. 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 12.86% for BIZD.
BIZD has the higher dividend yield at 14.01%, compared with 4.56% for LQD.
LQD is categorized as Corporate Bonds, while BIZD is Financials Equities. LQD tracks iBoxx $ Liquid Investment Grade Index, while BIZD tracks MVIS US Business Development Companies Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.15% for LQD and 12.86% for BIZD.
LQD currently has the higher Sharpe Ratio (0.96 vs -0.69), 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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