LQD vs. VUSA.AS
LQD (iShares iBoxx $ Investment Grade Corporate Bond ETF) and VUSA.AS (Vanguard S&P 500 UCITS ETF) are both exchange-traded funds - LQD is a Corporate Bonds fund tracking the iBoxx $ Liquid Investment Grade Index, while VUSA.AS is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, LQD returned 2.54%/yr vs 15.22%/yr for VUSA.AS. At a 0.11 correlation, their price movements are largely independent. LQD charges 0.15%/yr vs 0.07%/yr for VUSA.AS.
Performance
LQD vs. VUSA.AS - Performance Comparison
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Different Trading Currencies
LQD is traded in USD, while VUSA.AS is traded in EUR. To make them comparable, the VUSA.AS values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, LQD achieves a 0.82% return, which is significantly lower than VUSA.AS's 8.38% return. Over the past 10 years, LQD has underperformed VUSA.AS with an annualized return of 2.54%, while VUSA.AS has yielded a comparatively higher 15.22% annualized return.
LQD
- 1D
- -0.06%
- 1M
- 0.80%
- YTD
- 0.82%
- 6M
- 1.24%
- 1Y
- 5.80%
- 3Y*
- 5.30%
- 5Y*
- -0.21%
- 10Y*
- 2.54%
VUSA.AS
- 1D
- 1.46%
- 1M
- -0.87%
- YTD
- 8.38%
- 6M
- 9.49%
- 1Y
- 24.87%
- 3Y*
- 20.69%
- 5Y*
- 13.18%
- 10Y*
- 15.22%
LQD vs. VUSA.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 0.82% | 7.90% | 0.86% | 9.40% | -17.92% | -1.84% | 10.97% | 17.37% | -3.79% | 7.06% |
VUSA.AS Vanguard S&P 500 UCITS ETF | 8.38% | 17.85% | 25.58% | 25.99% | -19.34% | 30.81% | 17.24% | 30.40% | -5.01% | 21.78% |
Correlation
The correlation between LQD and VUSA.AS is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
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 | 0.16 |
Correlation (All Time) Calculated using the full available price history since May 22, 2012 | 0.11 |
Over the past year, LQD and VUSA.AS have become more correlated (0.33) than their long-term average of 0.11, meaning their price movements have been converging.
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Return for Risk
LQD vs. VUSA.AS — Risk / Return Rank
LQD
VUSA.AS
LQD vs. VUSA.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) and Vanguard S&P 500 UCITS ETF (VUSA.AS). 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 | VUSA.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.10 | ||
| Sortino ratioReturn per unit of downside risk | -1.54 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.36 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.55 | 2.80 | -1.24 |
| Martin ratioReturn relative to average drawdown | 4.37 | 11.63 | -7.26 |
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Drawdowns
LQD vs. VUSA.AS - Drawdown Comparison
The maximum LQD drawdown since its inception was -24.95%, smaller than the maximum VUSA.AS drawdown of -34.11%. Use the drawdown chart below to compare losses from any high point for LQD and VUSA.AS.
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Drawdown Indicators
| LQD | VUSA.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.95% | -34.11% | +9.16% |
Max Drawdown (1Y)Largest decline over 1 year | -3.34% | -8.58% | +5.24% |
Max Drawdown (3Y)Largest decline over 3 years | -8.43% | -19.40% | +10.97% |
Max Drawdown (5Y)Largest decline over 5 years | -24.95% | -24.41% | -0.54% |
Max Drawdown (10Y)Largest decline over 10 years | -24.95% | -34.11% | +9.16% |
Current DrawdownCurrent decline from peak | -3.37% | -2.34% | -1.03% |
Average DrawdownAverage peak-to-trough decline | -3.99% | -3.78% | -0.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.19% | 2.07% | -0.88% |
Volatility
LQD vs. VUSA.AS - Volatility Comparison
The current volatility for iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) is 1.78%, while Vanguard S&P 500 UCITS ETF (VUSA.AS) has a volatility of 3.36%. This indicates that LQD experiences smaller price fluctuations and is considered to be less risky than VUSA.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LQD | VUSA.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.78% | 3.36% | -1.58% |
Volatility (6M)Calculated over the trailing 6-month period | 4.02% | 8.36% | -4.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.37% | 11.61% | -6.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.65% | 15.85% | -7.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.69% | 16.28% | -7.59% |
LQD vs. VUSA.AS - Expense Ratio Comparison
LQD has a 0.15% expense ratio, which is higher than VUSA.AS'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%.
Dividends
LQD vs. VUSA.AS - Dividend Comparison
LQD's dividend yield for the trailing twelve months is around 4.55%, more than VUSA.AS's 0.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 4.55% | 4.48% | 4.45% | 3.99% | 3.30% | 2.30% | 2.66% | 3.29% | 3.67% | 3.10% | 3.34% | 3.47% |
VUSA.AS Vanguard S&P 500 UCITS ETF | 0.88% | 0.97% | 0.99% | 1.26% | 1.45% | 1.02% | 1.43% | 1.46% | 1.74% | 1.64% | 1.66% | 1.75% |
Frequently Asked Questions
LQD and VUSA.AS have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VUSA.AS is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VUSA.AS is cheaper with a 0.07% expense ratio, compared with 0.15% for LQD.
LQD is categorized as Corporate Bonds, while VUSA.AS is S&P 500. LQD tracks iBoxx $ Liquid Investment Grade Index, while VUSA.AS tracks S&P 500 Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.15% for LQD and 0.07% for VUSA.AS.
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