LQDI vs. PBTP
LQDI (iShares Inflation Hedged Corporate Bond ETF) and PBTP (Invesco PureBeta 0-5 Yr US TIPS ETF) are both Inflation-Protected Bonds funds. LQDI is actively managed, while PBTP is passively managed. Over the past 5 years, LQDI returned 1.93%/yr vs 3.32%/yr for PBTP. At a 0.48 correlation, their price movements are largely independent. LQDI charges 0.18%/yr vs 0.07%/yr for PBTP.
Performance
LQDI vs. PBTP - Performance Comparison
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Returns By Period
In the year-to-date period, LQDI achieves a 1.72% return, which is significantly lower than PBTP's 2.15% return.
LQDI
- 1D
- -0.39%
- 1M
- 0.66%
- YTD
- 1.72%
- 6M
- 1.56%
- 1Y
- 7.30%
- 3Y*
- 5.84%
- 5Y*
- 1.93%
- 10Y*
- —
PBTP
- 1D
- -0.02%
- 1M
- 0.08%
- YTD
- 2.15%
- 6M
- 2.14%
- 1Y
- 4.68%
- 3Y*
- 5.23%
- 5Y*
- 3.32%
- 10Y*
- —
LQDI vs. PBTP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
LQDI iShares Inflation Hedged Corporate Bond ETF | 1.72% | 8.84% | 1.48% | 8.85% | -15.33% | 7.53% | 11.82% | 15.83% | -2.07% |
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF | 2.15% | 5.98% | 4.72% | 4.53% | -3.02% | 5.51% | 4.89% | 4.72% | 0.22% |
Correlation
The correlation between LQDI and PBTP is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since May 11, 2018 | 0.48 |
The correlation between LQDI and PBTP shifts across timeframes, from 0.38 (1 year) to 0.59 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
LQDI vs. PBTP — Risk / Return Rank
LQDI
PBTP
LQDI vs. PBTP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Inflation Hedged Corporate Bond ETF (LQDI) and Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP). 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.
| LQDI | PBTP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.58 | ||
| Sortino ratioReturn per unit of downside risk | -2.94 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.66 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | 2.54 | 7.08 | -4.54 |
| Martin ratioReturn relative to average drawdown | 7.71 | 24.51 | -16.80 |
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
| LQDI | PBTP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.47 | 3.05 | -1.58 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | 1.17 | -0.93 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 1.30 | -0.90 |
Drawdowns
LQDI vs. PBTP - Drawdown Comparison
The maximum LQDI drawdown since its inception was -28.99%, which is greater than PBTP's maximum drawdown of -5.44%. Use the drawdown chart below to compare losses from any high point for LQDI and PBTP.
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Drawdown Indicators
| LQDI | PBTP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.99% | -5.44% | -23.55% |
Max Drawdown (1Y)Largest decline over 1 year | -2.88% | -0.66% | -2.22% |
Max Drawdown (3Y)Largest decline over 3 years | -6.27% | -1.03% | -5.24% |
Max Drawdown (5Y)Largest decline over 5 years | -20.67% | -5.44% | -15.23% |
Current DrawdownCurrent decline from peak | -0.39% | -0.02% | -0.37% |
Average DrawdownAverage peak-to-trough decline | -5.25% | -0.75% | -4.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 0.19% | +0.76% |
Volatility
LQDI vs. PBTP - Volatility Comparison
iShares Inflation Hedged Corporate Bond ETF (LQDI) has a higher volatility of 1.20% compared to Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) at 0.40%. This indicates that LQDI's price experiences larger fluctuations and is considered to be riskier than PBTP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LQDI | PBTP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 0.40% | +0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 3.44% | 1.03% | +2.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.97% | 1.54% | +3.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.18% | 2.85% | +5.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.84% | 2.64% | +8.20% |
LQDI vs. PBTP - Expense Ratio Comparison
LQDI has a 0.18% expense ratio, which is higher than PBTP'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
LQDI vs. PBTP - Dividend Comparison
LQDI's dividend yield for the trailing twelve months is around 4.58%, more than PBTP's 3.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
LQDI iShares Inflation Hedged Corporate Bond ETF | 4.58% | 4.46% | 4.65% | 3.98% | 3.27% | 2.42% | 2.34% | 3.26% | 2.53% | 0.00% |
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF | 3.10% | 3.82% | 2.59% | 2.36% | 5.33% | 3.12% | 1.25% | 2.12% | 2.33% | 0.73% |
Frequently Asked Questions
LQDI and PBTP have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LQDI has higher volatility (1.20%) compared to PBTP (0.40%). In terms of maximum drawdown, LQDI dropped -28.99% vs PBTP's -5.44%.
On 5-year performance, PBTP leads with 3.32% vs 1.93% for LQDI. On fees, PBTP is cheaper at 0.07% per year. On volatility, PBTP has been the lower-risk option at 0.40%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PBTP has performed better with a 3.32% return vs 1.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PBTP is cheaper with a 0.07% expense ratio, compared with 0.18% for LQDI.
LQDI has the higher dividend yield at 4.58%, compared with 3.10% for PBTP.
They also come from different issuers: iShares and Invesco. Their fees differ too: 0.18% for LQDI and 0.07% for PBTP.
PBTP currently has the higher Sharpe Ratio (3.05 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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