LQD vs. LQIG
Compare and contrast key facts about iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) and SPDR MarketAxess Investment Grade 400 Corporate Bond ETF (LQIG).
LQD and LQIG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. LQD is a passively managed fund by iShares that tracks the performance of the iBoxx $ Liquid Investment Grade Index. It was launched on Jul 26, 2002. LQIG is a passively managed fund by State Street that tracks the performance of the MarketAxess U.S. Investment Grade 400 Corporate Bond Index - Benchmark TR Gross. It was launched on May 11, 2022. Both LQD and LQIG are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
LQD vs. LQIG - Performance Comparison
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LQD vs. LQIG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | -0.27% | 7.90% | 0.86% | 9.40% | -3.89% |
LQIG SPDR MarketAxess Investment Grade 400 Corporate Bond ETF | -0.27% | 7.62% | 1.52% | 9.46% | -3.25% |
Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with LQD at -0.27% and LQIG at -0.27%.
LQD
- 1D
- 0.11%
- 1M
- -1.63%
- YTD
- -0.27%
- 6M
- -0.34%
- 1Y
- 4.61%
- 3Y*
- 4.30%
- 5Y*
- 0.11%
- 10Y*
- 2.63%
LQIG
- 1D
- -0.00%
- 1M
- -1.54%
- YTD
- -0.27%
- 6M
- -0.20%
- 1Y
- 4.49%
- 3Y*
- 4.41%
- 5Y*
- —
- 10Y*
- —
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LQD vs. LQIG - Expense Ratio Comparison
LQD has a 0.15% expense ratio, which is higher than LQIG's 0.07% 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%.
Return for Risk
LQD vs. LQIG — Risk / Return Rank
LQD
LQIG
LQD vs. LQIG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) and SPDR MarketAxess Investment Grade 400 Corporate Bond ETF (LQIG). 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 | LQIG | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.70 | 0.71 | -0.01 |
Sortino ratioReturn per unit of downside risk | 0.99 | 1.01 | -0.02 |
Omega ratioGain probability vs. loss probability | 1.13 | 1.14 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 1.48 | 1.45 | +0.03 |
Martin ratioReturn relative to average drawdown | 4.06 | 4.03 | +0.03 |
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 | LQIG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.70 | 0.71 | -0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.01 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.46 | +0.07 |
Correlation
The correlation between LQD and LQIG is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
LQD vs. LQIG - Dividend Comparison
LQD's dividend yield for the trailing twelve months is around 4.56%, less than LQIG's 5.08% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
LQIG SPDR MarketAxess Investment Grade 400 Corporate Bond ETF | 5.08% | 5.12% | 5.49% | 4.85% | 4.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
LQD vs. LQIG - Drawdown Comparison
The maximum LQD drawdown since its inception was -24.95%, which is greater than LQIG's maximum drawdown of -11.86%. Use the drawdown chart below to compare losses from any high point for LQD and LQIG.
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Drawdown Indicators
| LQD | LQIG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.95% | -11.86% | -13.09% |
Max Drawdown (1Y)Largest decline over 1 year | -3.38% | -3.33% | -0.05% |
Max Drawdown (5Y)Largest decline over 5 years | -24.95% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -24.95% | — | — |
Current DrawdownCurrent decline from peak | -4.42% | -2.02% | -2.40% |
Average DrawdownAverage peak-to-trough decline | -3.99% | -2.53% | -1.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.23% | 1.20% | +0.03% |
Volatility
LQD vs. LQIG - Volatility Comparison
iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) has a higher volatility of 2.66% compared to SPDR MarketAxess Investment Grade 400 Corporate Bond ETF (LQIG) at 2.49%. This indicates that LQD's price experiences larger fluctuations and is considered to be riskier than LQIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LQD | LQIG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.66% | 2.49% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 3.76% | 3.59% | +0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.60% | 6.33% | +0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.65% | 8.14% | +0.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.67% | 8.14% | +0.53% |