LQDH vs. HYDB
LQDH (iShares Interest Rate Hedged Corporate Bond ETF) and HYDB (iShares High Yield Bond Factor ETF) are both exchange-traded funds - LQDH is a Corporate Bonds fund actively managed by iShares, while HYDB is a High Yield Bonds fund tracking the BlackRock High Yield Defensive Bond Index. LQDH is actively managed, while HYDB is passively managed. Over the past 5 years, LQDH returned 5.28%/yr vs 4.67%/yr for HYDB. A 0.53 correlation means they provide meaningful diversification when combined. LQDH charges 0.25%/yr vs 0.35%/yr for HYDB.
Performance
LQDH vs. HYDB - Performance Comparison
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Returns By Period
In the year-to-date period, LQDH achieves a 2.31% return, which is significantly higher than HYDB's 1.32% return.
LQDH
- 1D
- -0.09%
- 1M
- 1.29%
- YTD
- 2.31%
- 6M
- 3.11%
- 1Y
- 7.62%
- 3Y*
- 8.08%
- 5Y*
- 5.28%
- 10Y*
- 4.64%
HYDB
- 1D
- -0.21%
- 1M
- 0.39%
- YTD
- 1.32%
- 6M
- 1.87%
- 1Y
- 7.20%
- 3Y*
- 9.11%
- 5Y*
- 4.67%
- 10Y*
- —
LQDH vs. HYDB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LQDH iShares Interest Rate Hedged Corporate Bond ETF | 2.31% | 7.00% | 7.43% | 11.14% | -1.88% | 1.84% | 1.68% | 9.50% | -2.20% | 2.91% |
HYDB iShares High Yield Bond Factor ETF | 1.32% | 8.10% | 9.11% | 14.02% | -9.99% | 5.14% | 7.39% | 16.13% | -3.18% | 3.38% |
Correlation
The correlation between LQDH and HYDB is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2017 | 0.53 |
The correlation between LQDH and HYDB has been stable across timeframes, ranging from 0.53 to 0.61 - a consistent structural relationship.
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Return for Risk
LQDH vs. HYDB — Risk / Return Rank
LQDH
HYDB
LQDH vs. HYDB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Interest Rate Hedged Corporate Bond ETF (LQDH) and iShares High Yield Bond Factor ETF (HYDB). 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.
| LQDH | HYDB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.92 | ||
| Sortino ratioReturn per unit of downside risk | +1.42 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 1.37 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 3.26 | 2.55 | +0.71 |
| Martin ratioReturn relative to average drawdown | 13.85 | 11.30 | +2.56 |
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
| LQDH | HYDB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.83 | 1.91 | +0.92 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.20 | 0.67 | +0.54 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.72 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.71 | -0.13 |
Drawdowns
LQDH vs. HYDB - Drawdown Comparison
The maximum LQDH drawdown since its inception was -24.63%, which is greater than HYDB's maximum drawdown of -21.58%. Use the drawdown chart below to compare losses from any high point for LQDH and HYDB.
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Drawdown Indicators
| LQDH | HYDB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.63% | -21.58% | -3.05% |
Max Drawdown (1Y)Largest decline over 1 year | -2.34% | -2.83% | +0.49% |
Max Drawdown (3Y)Largest decline over 3 years | -4.86% | -5.58% | +0.72% |
Max Drawdown (5Y)Largest decline over 5 years | -7.08% | -14.28% | +7.20% |
Max Drawdown (10Y)Largest decline over 10 years | -24.63% | — | — |
Current DrawdownCurrent decline from peak | -0.09% | -0.21% | +0.12% |
Average DrawdownAverage peak-to-trough decline | -1.68% | -2.39% | +0.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | 0.64% | -0.09% |
Volatility
LQDH vs. HYDB - Volatility Comparison
The current volatility for iShares Interest Rate Hedged Corporate Bond ETF (LQDH) is 0.50%, while iShares High Yield Bond Factor ETF (HYDB) has a volatility of 1.13%. This indicates that LQDH experiences smaller price fluctuations and is considered to be less risky than HYDB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LQDH | HYDB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.50% | 1.13% | -0.63% |
Volatility (6M)Calculated over the trailing 6-month period | 2.03% | 2.93% | -0.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.70% | 3.79% | -1.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.41% | 7.04% | -2.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.44% | 7.76% | -1.32% |
LQDH vs. HYDB - Expense Ratio Comparison
LQDH has a 0.25% expense ratio, which is lower than HYDB's 0.35% expense ratio.
Dividends
LQDH vs. HYDB - Dividend Comparison
LQDH's dividend yield for the trailing twelve months is around 5.95%, less than HYDB's 7.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYDB iShares High Yield Bond Factor ETF | 7.00% | 7.04% | 6.95% | 7.00% | 6.30% | 4.70% | 5.81% | 5.68% | 6.16% | 2.70% | 0.00% | 0.00% |
LQDH iShares Interest Rate Hedged Corporate Bond ETF | 5.95% | 6.06% | 7.57% | 7.69% | 3.73% | 1.65% | 2.22% | 3.09% | 5.08% | 2.37% | 2.33% | 2.98% |
Frequently Asked Questions
LQDH and HYDB have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYDB has higher volatility (1.13%) compared to LQDH (0.50%). In terms of maximum drawdown, LQDH dropped -24.63% vs HYDB's -21.58%.
On 5-year performance, LQDH leads with 5.28% vs 4.67% for HYDB. On fees, LQDH is cheaper at 0.25% per year. On volatility, LQDH has been the lower-risk option at 0.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, LQDH has performed better with a 5.28% return vs 4.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LQDH is cheaper with a 0.25% expense ratio, compared with 0.35% for HYDB.
HYDB has the higher dividend yield at 7.00%, compared with 5.95% for LQDH.
LQDH is categorized as Corporate Bonds, while HYDB is High Yield Bonds. Their fees differ too: 0.25% for LQDH and 0.35% for HYDB.
LQDH currently has the higher Sharpe Ratio (2.83 vs 1.91), 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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