LQD vs. CORP
LQD (iShares iBoxx $ Investment Grade Corporate Bond ETF) and CORP (PIMCO Investment Grade Corporate Bond Index ETF) are both Corporate Bonds funds - LQD tracks the iBoxx $ Liquid Investment Grade Index while CORP tracks the ICE BofA US Corporate. Both are passively managed. Over the past 10 years, LQD returned 2.52%/yr vs 2.79%/yr for CORP. Their correlation of 0.85 suggests significant overlap in exposure. LQD charges 0.15%/yr vs 0.20%/yr for CORP.
Performance
LQD vs. CORP - Performance Comparison
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Returns By Period
In the year-to-date period, LQD achieves a 0.46% return, which is significantly lower than CORP's 0.57% return. Over the past 10 years, LQD has underperformed CORP with an annualized return of 2.52%, while CORP has yielded a comparatively higher 2.79% annualized return.
LQD
- 1D
- -0.28%
- 1M
- 0.72%
- YTD
- 0.46%
- 6M
- -0.03%
- 1Y
- 6.08%
- 3Y*
- 4.95%
- 5Y*
- -0.04%
- 10Y*
- 2.52%
CORP
- 1D
- -0.21%
- 1M
- 0.55%
- YTD
- 0.57%
- 6M
- 0.40%
- 1Y
- 6.11%
- 3Y*
- 5.48%
- 5Y*
- 0.92%
- 10Y*
- 2.79%
LQD vs. CORP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 0.46% | 7.90% | 0.86% | 9.40% | -17.92% | -1.84% | 10.97% | 17.37% | -3.79% | 7.06% |
CORP PIMCO Investment Grade Corporate Bond Index ETF | 0.57% | 7.96% | 2.47% | 9.13% | -14.96% | -1.18% | 9.70% | 14.80% | -3.29% | 6.56% |
Correlation
The correlation between LQD and CORP is 0.98 - 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 | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2010 | 0.85 |
The correlation between LQD and CORP shifts across timeframes, from 0.85 (all time) to 0.98 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
LQD vs. CORP — Risk / Return Rank
LQD
CORP
LQD vs. CORP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) and PIMCO Investment Grade Corporate Bond Index ETF (CORP). 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.
| LQD | CORP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.26 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | 2.13 | -0.30 |
| Martin ratioReturn relative to average drawdown | 5.23 | 6.90 | -1.67 |
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
| LQD | CORP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.14 | 1.47 | -0.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.01 | 0.13 | -0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.29 | 0.40 | -0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.56 | -0.02 |
Drawdowns
LQD vs. CORP - Drawdown Comparison
The maximum LQD drawdown since its inception was -24.95%, which is greater than CORP's maximum drawdown of -21.21%. Use the drawdown chart below to compare losses from any high point for LQD and CORP.
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Drawdown Indicators
| LQD | CORP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.95% | -21.21% | -3.74% |
Max Drawdown (1Y)Largest decline over 1 year | -3.34% | -2.88% | -0.46% |
Max Drawdown (3Y)Largest decline over 3 years | -8.43% | -6.06% | -2.37% |
Max Drawdown (5Y)Largest decline over 5 years | -24.95% | -21.21% | -3.74% |
Max Drawdown (10Y)Largest decline over 10 years | -24.95% | -21.21% | -3.74% |
Current DrawdownCurrent decline from peak | -3.72% | -1.06% | -2.66% |
Average DrawdownAverage peak-to-trough decline | -3.99% | -3.61% | -0.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 0.89% | +0.28% |
Volatility
LQD vs. CORP - Volatility Comparison
iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) has a higher volatility of 1.65% compared to PIMCO Investment Grade Corporate Bond Index ETF (CORP) at 1.33%. This indicates that LQD's price experiences larger fluctuations and is considered to be riskier than CORP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LQD | CORP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.65% | 1.33% | +0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 3.90% | 2.99% | +0.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.36% | 4.18% | +1.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.65% | 6.89% | +1.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.68% | 7.08% | +1.60% |
LQD vs. CORP - Expense Ratio Comparison
LQD has a 0.15% expense ratio, which is lower than CORP's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
LQD vs. CORP - Dividend Comparison
LQD's dividend yield for the trailing twelve months is around 4.57%, less than CORP's 4.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CORP PIMCO Investment Grade Corporate Bond Index ETF | 4.85% | 4.77% | 4.74% | 4.12% | 3.28% | 2.51% | 2.90% | 3.25% | 3.18% | 3.08% | 2.91% | 3.14% |
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 4.57% | 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
With a correlation of 0.98, LQD and CORP 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.
LQD has higher volatility (1.65%) compared to CORP (1.33%). In terms of maximum drawdown, LQD dropped -24.95% vs CORP's -21.21%.
On 10-year performance, CORP leads with 2.79% vs 2.52% for LQD. On fees, LQD is cheaper at 0.15% per year. On volatility, CORP has been the lower-risk option at 1.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, CORP has performed better with a 2.79% return vs 2.52%. 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 0.20% for CORP.
CORP has the higher dividend yield at 4.85%, compared with 4.57% for LQD.
LQD tracks iBoxx $ Liquid Investment Grade Index, while CORP tracks ICE BofA US Corporate. They also come from different issuers: iShares and PIMCO. Their fees differ too: 0.15% for LQD and 0.20% for CORP.
CORP currently has the higher Sharpe Ratio (1.47 vs 1.14), 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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