LQD vs. FCOR
LQD (iShares iBoxx $ Investment Grade Corporate Bond ETF) and FCOR (Fidelity Corporate Bond ETF) are both Corporate Bonds funds. LQD is passively managed, while FCOR is actively managed. Over the past 10 years, LQD returned 2.48%/yr vs 2.87%/yr for FCOR. Their correlation of 0.82 suggests significant overlap in exposure. LQD charges 0.15%/yr vs 0.36%/yr for FCOR.
Performance
LQD vs. FCOR - 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 FCOR's 0.56% return. Over the past 10 years, LQD has underperformed FCOR with an annualized return of 2.48%, while FCOR has yielded a comparatively higher 2.87% 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%
FCOR
- 1D
- 0.25%
- 1M
- 0.76%
- YTD
- 0.56%
- 6M
- 0.57%
- 1Y
- 4.84%
- 3Y*
- 5.55%
- 5Y*
- 0.52%
- 10Y*
- 2.87%
LQD vs. FCOR - 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% |
FCOR Fidelity Corporate Bond ETF | 0.56% | 7.88% | 3.01% | 8.95% | -15.88% | -1.64% | 11.39% | 14.87% | -3.04% | 6.13% |
Correlation
The correlation between LQD and FCOR is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Oct 9, 2014 | 0.82 |
The correlation between LQD and FCOR shifts across timeframes, from 0.82 (all time) to 0.95 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
LQD vs. FCOR — Risk / Return Rank
LQD
FCOR
LQD vs. FCOR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) and Fidelity Corporate Bond ETF (FCOR). 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 | FCOR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.19 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.53 | 1.59 | -0.05 |
| Martin ratioReturn relative to average drawdown | 4.28 | 4.78 | -0.51 |
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Drawdowns
LQD vs. FCOR - Drawdown Comparison
The maximum LQD drawdown since its inception was -24.95%, which is greater than FCOR's maximum drawdown of -22.60%. Use the drawdown chart below to compare losses from any high point for LQD and FCOR.
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Drawdown Indicators
| LQD | FCOR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.95% | -22.60% | -2.35% |
Max Drawdown (1Y)Largest decline over 1 year | -3.34% | -3.06% | -0.28% |
Max Drawdown (3Y)Largest decline over 3 years | -8.43% | -6.60% | -1.83% |
Max Drawdown (5Y)Largest decline over 5 years | -24.95% | -22.60% | -2.35% |
Max Drawdown (10Y)Largest decline over 10 years | -24.95% | -22.60% | -2.35% |
Current DrawdownCurrent decline from peak | -3.46% | -1.09% | -2.37% |
Average DrawdownAverage peak-to-trough decline | -3.99% | -4.71% | +0.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.19% | 1.01% | +0.18% |
Volatility
LQD vs. FCOR - Volatility Comparison
iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) has a higher volatility of 1.42% compared to Fidelity Corporate Bond ETF (FCOR) at 1.33%. This indicates that LQD's price experiences larger fluctuations and is considered to be riskier than FCOR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LQD | FCOR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.42% | 1.33% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 3.98% | 3.43% | +0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.32% | 4.38% | +0.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.65% | 7.06% | +1.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.69% | 7.11% | +1.58% |
LQD vs. FCOR - Expense Ratio Comparison
LQD has a 0.15% expense ratio, which is lower than FCOR's 0.36% expense ratio.
Dividends
LQD vs. FCOR - Dividend Comparison
LQD's dividend yield for the trailing twelve months is around 4.56%, which matches FCOR's 4.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCOR Fidelity Corporate Bond ETF | 4.54% | 4.47% | 4.35% | 3.70% | 3.30% | 2.34% | 2.99% | 3.10% | 3.65% | 2.81% | 3.04% | 3.82% |
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 FCOR have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LQD has higher volatility (1.42%) compared to FCOR (1.33%). In terms of maximum drawdown, LQD dropped -24.95% vs FCOR's -22.60%.
On 10-year performance, FCOR leads with 2.87% vs 2.48% for LQD. On fees, LQD is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FCOR has performed better with a 2.87% 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 0.36% for FCOR.
LQD has the higher dividend yield at 4.56%, compared with 4.54% for FCOR.
They also come from different issuers: iShares and Fidelity. Their fees differ too: 0.15% for LQD and 0.36% for FCOR.
FCOR currently has the higher Sharpe Ratio (1.11 vs 0.96), 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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