LQD vs. INDA
LQD (iShares iBoxx $ Investment Grade Corporate Bond ETF) and INDA (iShares MSCI India ETF) are both exchange-traded funds - LQD is a Corporate Bonds fund tracking the iBoxx $ Liquid Investment Grade Index, while INDA is a Asia Pacific Equities fund tracking the MSCI India Index. Both are passively managed. Over the past 10 years, LQD returned 2.41%/yr vs 6.73%/yr for INDA. At a 0.12 correlation, their price movements are largely independent. LQD charges 0.15%/yr vs 0.69%/yr for INDA.
Performance
LQD vs. INDA - Performance Comparison
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Returns By Period
In the year-to-date period, LQD achieves a -0.06% return, which is significantly higher than INDA's -12.65% return. Over the past 10 years, LQD has underperformed INDA with an annualized return of 2.41%, while INDA has yielded a comparatively higher 6.73% annualized return.
LQD
- 1D
- -0.10%
- 1M
- -0.67%
- YTD
- -0.06%
- 6M
- -0.06%
- 1Y
- 5.73%
- 3Y*
- 4.95%
- 5Y*
- -0.28%
- 10Y*
- 2.41%
INDA
- 1D
- -0.27%
- 1M
- -5.28%
- YTD
- -12.65%
- 6M
- -11.06%
- 1Y
- -14.02%
- 3Y*
- 4.13%
- 5Y*
- 2.36%
- 10Y*
- 6.73%
LQD vs. INDA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | -0.06% | 7.90% | 0.86% | 9.40% | -17.92% | -1.84% | 10.97% | 17.37% | -3.79% | 7.06% |
INDA iShares MSCI India ETF | -12.65% | 2.68% | 8.63% | 17.16% | -8.94% | 21.36% | 14.83% | 6.49% | -6.67% | 36.08% |
Correlation
The correlation between LQD and INDA is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2012 | 0.12 |
The correlation between LQD and INDA shifts across timeframes, from 0.12 (all time) to 0.31 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
LQD vs. INDA — Risk / Return Rank
LQD
INDA
LQD vs. INDA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) and iShares MSCI India ETF (INDA). 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 | INDA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.04 | ||
| Sortino ratioReturn per unit of downside risk | +2.92 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 0.85 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | -0.75 | +2.48 |
| Martin ratioReturn relative to average drawdown | 4.88 | -1.78 | +6.67 |
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 | INDA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.08 | -0.96 | +2.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.03 | 0.15 | -0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 0.32 | -0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.23 | +0.30 |
Drawdowns
LQD vs. INDA - Drawdown Comparison
The maximum LQD drawdown since its inception was -24.95%, smaller than the maximum INDA drawdown of -45.07%. Use the drawdown chart below to compare losses from any high point for LQD and INDA.
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Drawdown Indicators
| LQD | INDA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.95% | -45.07% | +20.12% |
Max Drawdown (1Y)Largest decline over 1 year | -3.34% | -18.69% | +15.35% |
Max Drawdown (3Y)Largest decline over 3 years | -8.43% | -22.72% | +14.29% |
Max Drawdown (5Y)Largest decline over 5 years | -24.95% | -22.72% | -2.23% |
Max Drawdown (10Y)Largest decline over 10 years | -24.95% | -45.07% | +20.12% |
Current DrawdownCurrent decline from peak | -4.21% | -19.68% | +15.47% |
Average DrawdownAverage peak-to-trough decline | -3.99% | -9.58% | +5.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.18% | 7.88% | -6.70% |
Volatility
LQD vs. INDA - Volatility Comparison
The current volatility for iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) is 1.62%, while iShares MSCI India ETF (INDA) has a volatility of 5.11%. This indicates that LQD experiences smaller price fluctuations and is considered to be less risky than INDA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LQD | INDA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 5.11% | -3.49% |
Volatility (6M)Calculated over the trailing 6-month period | 3.94% | 12.75% | -8.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.32% | 14.72% | -9.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.65% | 15.39% | -6.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.68% | 21.12% | -12.44% |
LQD vs. INDA - Expense Ratio Comparison
LQD has a 0.15% expense ratio, which is lower than INDA's 0.69% expense ratio.
Dividends
LQD vs. INDA - Dividend Comparison
LQD's dividend yield for the trailing twelve months is around 4.59%, while INDA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
INDA iShares MSCI India ETF | 0.00% | 0.00% | 0.76% | 0.16% | 0.00% | 6.44% | 0.27% | 0.99% | 0.94% | 1.09% | 0.90% | 1.19% |
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 4.59% | 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 INDA have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
INDA has higher volatility (5.11%) compared to LQD (1.62%). In terms of maximum drawdown, LQD dropped -24.95% vs INDA's -45.07%.
On 10-year performance, INDA leads with 6.73% vs 2.41% for LQD. On fees, LQD is cheaper at 0.15% per year. On volatility, LQD has been the lower-risk option at 1.62%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, INDA has performed better with a 6.73% return vs 2.41%. 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 0.69% for INDA.
LQD has the higher dividend yield at 4.59%, compared with 0.00% for INDA.
LQD is categorized as Corporate Bonds, while INDA is Asia Pacific Equities. LQD tracks iBoxx $ Liquid Investment Grade Index, while INDA tracks MSCI India Index. Their fees differ too: 0.15% for LQD and 0.69% for INDA.
LQD currently has the higher Sharpe Ratio (1.08 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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