LQDB vs. BBCB
LQDB (iShares BBB Rated Corporate Bond ETF) and BBCB (JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF) are both Corporate Bonds funds - LQDB tracks the iBoxx USD Liquid Investment Grade BBB 0+ Index while BBCB tracks the Bloomberg US Corporate Investment Grade. Both are passively managed. Over the past 5 years, LQDB returned 0.84%/yr vs 0.84%/yr for BBCB. With a 0.98 correlation, they move nearly in lockstep. LQDB charges 0.15%/yr vs 0.09%/yr for BBCB.
Performance
LQDB vs. BBCB - Performance Comparison
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Returns By Period
In the year-to-date period, LQDB achieves a 0.77% return, which is significantly lower than BBCB's 2.82% return.
LQDB
- 1D
- -0.18%
- 1M
- 0.58%
- YTD
- 0.77%
- 6M
- 0.56%
- 1Y
- 5.96%
- 3Y*
- 5.59%
- 5Y*
- 0.84%
- 10Y*
- —
BBCB
- 1D
- -0.11%
- 1M
- 0.66%
- YTD
- 2.82%
- 6M
- 2.66%
- 1Y
- 8.37%
- 3Y*
- 5.98%
- 5Y*
- 0.84%
- 10Y*
- —
LQDB vs. BBCB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
LQDB iShares BBB Rated Corporate Bond ETF | 0.77% | 7.50% | 2.37% | 9.60% | -15.51% | 2.35% |
BBCB JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF | 2.82% | 7.69% | 1.97% | 8.42% | -15.72% | 1.98% |
Correlation
The correlation between LQDB and BBCB is 0.95 - 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 | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since May 21, 2021 | 0.98 |
The correlation between LQDB and BBCB has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.
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Return for Risk
LQDB vs. BBCB — Risk / Return Rank
LQDB
BBCB
LQDB vs. BBCB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares BBB Rated Corporate Bond ETF (LQDB) and JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF (BBCB). 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.
| LQDB | BBCB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.34 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.24 | 2.85 | -0.61 |
| Martin ratioReturn relative to average drawdown | 6.94 | 10.09 | -3.14 |
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
| LQDB | BBCB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.47 | 1.71 | -0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.12 | 0.12 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.15 | 0.46 | -0.31 |
Drawdowns
LQDB vs. BBCB - Drawdown Comparison
The maximum LQDB drawdown since its inception was -21.63%, roughly equal to the maximum BBCB drawdown of -22.48%. Use the drawdown chart below to compare losses from any high point for LQDB and BBCB.
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Drawdown Indicators
| LQDB | BBCB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.63% | -22.48% | +0.85% |
Max Drawdown (1Y)Largest decline over 1 year | -2.67% | -2.95% | +0.28% |
Max Drawdown (3Y)Largest decline over 3 years | -5.90% | -6.46% | +0.56% |
Max Drawdown (5Y)Largest decline over 5 years | -21.63% | -22.32% | +0.69% |
Current DrawdownCurrent decline from peak | -0.83% | -0.34% | -0.49% |
Average DrawdownAverage peak-to-trough decline | -7.93% | -6.66% | -1.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 0.83% | +0.03% |
Volatility
LQDB vs. BBCB - Volatility Comparison
The current volatility for iShares BBB Rated Corporate Bond ETF (LQDB) is 1.31%, while JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF (BBCB) has a volatility of 1.41%. This indicates that LQDB experiences smaller price fluctuations and is considered to be less risky than BBCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LQDB | BBCB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.31% | 1.41% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 3.08% | 3.98% | -0.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.07% | 4.93% | -0.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.87% | 7.25% | -0.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.85% | 7.50% | -0.65% |
LQDB vs. BBCB - Expense Ratio Comparison
LQDB has a 0.15% expense ratio, which is higher than BBCB's 0.09% 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
LQDB vs. BBCB - Dividend Comparison
LQDB's dividend yield for the trailing twelve months is around 4.70%, less than BBCB's 7.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BBCB JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF | 7.15% | 5.02% | 5.22% | 4.22% | 3.39% | 3.47% | 4.59% | 5.25% | 0.20% |
LQDB iShares BBB Rated Corporate Bond ETF | 4.70% | 4.65% | 4.46% | 3.90% | 4.14% | 1.32% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.95, LQDB and BBCB 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.
BBCB has higher volatility (1.41%) compared to LQDB (1.31%). In terms of maximum drawdown, LQDB dropped -21.63% vs BBCB's -22.48%.
On 5-year performance, BBCB leads with 0.84% vs 0.84% for LQDB. On fees, BBCB is cheaper at 0.09% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BBCB has performed better with a 0.84% return vs 0.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBCB is cheaper with a 0.09% expense ratio, compared with 0.15% for LQDB.
BBCB has the higher dividend yield at 7.15%, compared with 4.70% for LQDB.
LQDB tracks iBoxx USD Liquid Investment Grade BBB 0+ Index , while BBCB tracks Bloomberg US Corporate Investment Grade. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.15% for LQDB and 0.09% for BBCB.
BBCB currently has the higher Sharpe Ratio (1.71 vs 1.47), 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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