LQDB vs. SPLB
LQDB (iShares BBB Rated Corporate Bond ETF) and SPLB (SPDR Portfolio Long Term Corporate Bond ETF) are both Corporate Bonds funds - LQDB tracks the iBoxx USD Liquid Investment Grade BBB 0+ Index while SPLB tracks the Bloomberg Barclays Long U.S. Corporate Index. Both are passively managed. Over the past 5 years, LQDB returned 0.79%/yr vs -1.98%/yr for SPLB. With a 0.96 correlation, they move nearly in lockstep. LQDB charges 0.15%/yr vs 0.07%/yr for SPLB.
Performance
LQDB vs. SPLB - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, LQDB achieves a 1.45% return, which is significantly lower than SPLB's 2.28% return.
LQDB
- 1D
- 0.07%
- 1M
- 0.87%
- YTD
- 1.45%
- 6M
- 1.21%
- 1Y
- 5.35%
- 3Y*
- 5.66%
- 5Y*
- 0.79%
- 10Y*
- —
SPLB
- 1D
- 0.04%
- 1M
- 1.85%
- YTD
- 2.28%
- 6M
- 1.56%
- 1Y
- 6.62%
- 3Y*
- 4.44%
- 5Y*
- -1.98%
- 10Y*
- 2.17%
LQDB vs. SPLB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
LQDB iShares BBB Rated Corporate Bond ETF | 1.45% | 7.50% | 2.37% | 9.60% | -15.51% | 2.35% |
SPLB SPDR Portfolio Long Term Corporate Bond ETF | 2.28% | 7.05% | -1.74% | 11.20% | -25.68% | 6.59% |
Correlation
The correlation between LQDB and SPLB is 0.95, 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 | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since May 20, 2021 | 0.96 |
The correlation between LQDB and SPLB has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
LQDB vs. SPLB — Risk / Return Rank
LQDB
SPLB
LQDB vs. SPLB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares BBB Rated Corporate Bond ETF (LQDB) and SPDR Portfolio Long Term Corporate Bond ETF (SPLB). 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.
| LQDB | SPLB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.49 | ||
| Sortino ratioReturn per unit of downside risk | +0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.15 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | 1.23 | +0.78 |
| Martin ratioReturn relative to average drawdown | 6.13 | 2.98 | +3.15 |
Loading charts...
Drawdowns
LQDB vs. SPLB - Drawdown Comparison
The maximum LQDB drawdown since its inception was -21.63%, smaller than the maximum SPLB drawdown of -34.46%. Use the drawdown chart below to compare losses from any high point for LQDB and SPLB.
Loading charts...
Drawdown Indicators
| LQDB | SPLB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.63% | -34.46% | +12.83% |
Max Drawdown (1Y)Largest decline over 1 year | -2.67% | -5.42% | +2.75% |
Max Drawdown (3Y)Largest decline over 3 years | -5.90% | -12.91% | +7.01% |
Max Drawdown (5Y)Largest decline over 5 years | -21.63% | -34.46% | +12.83% |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.46% | — |
Current DrawdownCurrent decline from peak | -0.16% | -13.38% | +13.22% |
Average DrawdownAverage peak-to-trough decline | -7.83% | -8.03% | +0.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.87% | 2.22% | -1.35% |
Volatility
LQDB vs. SPLB - Volatility Comparison
The current volatility for iShares BBB Rated Corporate Bond ETF (LQDB) is 1.20%, while SPDR Portfolio Long Term Corporate Bond ETF (SPLB) has a volatility of 1.96%. This indicates that LQDB experiences smaller price fluctuations and is considered to be less risky than SPLB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| LQDB | SPLB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 1.96% | -0.76% |
Volatility (6M)Calculated over the trailing 6-month period | 3.20% | 5.93% | -2.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.07% | 7.94% | -3.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.87% | 12.69% | -5.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.83% | 12.95% | -6.12% |
LQDB vs. SPLB - Expense Ratio Comparison
LQDB has a 0.15% expense ratio, which is higher than SPLB'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
LQDB vs. SPLB - Dividend Comparison
LQDB's dividend yield for the trailing twelve months is around 4.67%, less than SPLB's 5.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LQDB iShares BBB Rated Corporate Bond ETF | 4.67% | 4.65% | 4.46% | 3.90% | 4.14% | 1.32% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPLB SPDR Portfolio Long Term Corporate Bond ETF | 5.30% | 5.25% | 5.20% | 4.60% | 4.53% | 3.00% | 3.01% | 3.79% | 4.50% | 4.06% | 4.34% | 4.70% |
Frequently Asked Questions
With a correlation of 0.95, LQDB and SPLB 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.
SPLB has higher volatility (1.96%) compared to LQDB (1.20%). In terms of maximum drawdown, LQDB dropped -21.63% vs SPLB's -34.46%.
On 5-year performance, LQDB leads with 0.79% vs -1.98% for SPLB. On fees, SPLB is cheaper at 0.07% per year. On volatility, LQDB has been the lower-risk option at 1.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, LQDB has performed better with a 0.79% return vs -1.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPLB is cheaper with a 0.07% expense ratio, compared with 0.15% for LQDB.
SPLB has the higher dividend yield at 5.30%, compared with 4.67% for LQDB.
LQDB tracks iBoxx USD Liquid Investment Grade BBB 0+ Index , while SPLB tracks Bloomberg Barclays Long U.S. Corporate Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.15% for LQDB and 0.07% for SPLB.
LQDB currently has the higher Sharpe Ratio (1.32 vs 0.84), 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.
Find the right allocation for LQDB and SPLB
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer