LQDW vs. IBIT
LQDW (iShares Investment Grade Corporate Bond Buywrite Strategy ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - LQDW is a Corporate Bonds fund tracking the CBOE LQD BuyWrite Index, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, LQDW returned 4.76% vs -47.60% for IBIT. At a 0.09 correlation, their price movements are largely independent. LQDW charges 0.34%/yr vs 0.25%/yr for IBIT.
Performance
LQDW vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, LQDW achieves a 0.79% return, which is significantly higher than IBIT's -29.06% return.
LQDW
- 1D
- -0.41%
- 1M
- -0.80%
- 6M
- 0.40%
- YTD
- 0.79%
- 1Y
- 4.76%
- 3Y*
- 3.11%
- 5Y*
- —
- 10Y*
- —
IBIT
- 1D
- -2.79%
- 1M
- -2.28%
- 6M
- -32.10%
- YTD
- -29.06%
- 1Y
- -47.60%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
LQDW vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
LQDW iShares Investment Grade Corporate Bond Buywrite Strategy ETF | 0.79% | 9.05% | 2.91% |
IBIT iShares Bitcoin Trust ETF | -29.06% | -6.41% | 89.87% |
Correlation
The correlation between LQDW and IBIT is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.09 |
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Return for Risk
LQDW vs. IBIT — Risk / Return Rank
LQDW
IBIT
LQDW vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Investment Grade Corporate Bond Buywrite Strategy ETF (LQDW) and iShares Bitcoin Trust ETF (IBIT). 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.
| LQDW | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.37 | ||
| Sortino ratioReturn per unit of downside risk | +3.47 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 0.82 | +0.43 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | -0.90 | +2.74 |
| Martin ratioReturn relative to average drawdown | 6.71 | -1.46 | +8.16 |
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Drawdowns
LQDW vs. IBIT - Drawdown Comparison
The maximum LQDW drawdown since its inception was -9.20%, smaller than the maximum IBIT drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for LQDW and IBIT.
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Drawdown Indicators
| LQDW | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.20% | -53.30% | +44.10% |
Max Drawdown (1Y)Largest decline over 1 year | -2.59% | -53.30% | +50.71% |
Max Drawdown (3Y)Largest decline over 3 years | -6.74% | — | — |
Current DrawdownCurrent decline from peak | -1.52% | -50.60% | +49.08% |
Average DrawdownAverage peak-to-trough decline | -2.29% | -17.56% | +15.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.71% | 32.72% | -32.01% |
Volatility
LQDW vs. IBIT - Volatility Comparison
The current volatility for iShares Investment Grade Corporate Bond Buywrite Strategy ETF (LQDW) is 1.06%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 11.51%. This indicates that LQDW experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LQDW | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 11.51% | -10.45% |
Volatility (6M)Calculated over the trailing 6-month period | 3.22% | 34.79% | -31.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.70% | 44.38% | -40.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.45% | 49.97% | -44.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.45% | 49.97% | -44.52% |
LQDW vs. IBIT - Expense Ratio Comparison
LQDW has a 0.34% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
LQDW vs. IBIT - Dividend Comparison
LQDW's dividend yield for the trailing twelve months is around 12.29%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
LQDW iShares Investment Grade Corporate Bond Buywrite Strategy ETF | 12.29% | 16.02% | 15.74% | 19.28% | 8.85% |
Frequently Asked Questions
LQDW and IBIT have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (11.51%) compared to LQDW (1.06%). In terms of maximum drawdown, LQDW dropped -9.20% vs IBIT's -53.30%.
On 1-year performance, LQDW leads with 4.76% vs -47.60% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, LQDW has been the lower-risk option at 1.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, LQDW has performed better with a 4.76% return vs -47.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIT is cheaper with a 0.25% expense ratio, compared with 0.34% for LQDW.
LQDW has the higher dividend yield at 12.29%, compared with 0.00% for IBIT.
LQDW is categorized as Corporate Bonds, while IBIT is Cryptocurrency. LQDW tracks CBOE LQD BuyWrite Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.34% for LQDW and 0.25% for IBIT.
LQDW currently has the higher Sharpe Ratio (1.30 vs -1.08), 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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