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 6.49% vs -39.82% 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 1.88% return, which is significantly higher than IBIT's -28.88% return.
LQDW
- 1D
- 0.18%
- 1M
- 1.36%
- YTD
- 1.88%
- 6M
- 2.02%
- 1Y
- 6.49%
- 3Y*
- 3.70%
- 5Y*
- —
- 10Y*
- —
IBIT
- 1D
- -3.26%
- 1M
- -17.81%
- YTD
- -28.88%
- 6M
- -28.88%
- 1Y
- -39.82%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
LQDW vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
LQDW iShares Investment Grade Corporate Bond Buywrite Strategy ETF | 1.88% | 9.05% | 2.91% |
IBIT iShares Bitcoin Trust ETF | -28.88% | -6.41% | 89.87% |
Correlation
The correlation between LQDW and IBIT is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
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 | +2.70 | ||
| Sortino ratioReturn per unit of downside risk | +3.80 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 0.86 | +0.50 |
| Calmar ratioReturn relative to maximum drawdown | 2.52 | -0.77 | +3.28 |
| Martin ratioReturn relative to average drawdown | 9.34 | -1.30 | +10.65 |
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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 -52.11%. 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% | -52.11% | +42.91% |
Max Drawdown (1Y)Largest decline over 1 year | -2.59% | -52.11% | +49.52% |
Max Drawdown (3Y)Largest decline over 3 years | -6.74% | — | — |
Current DrawdownCurrent decline from peak | -0.04% | -50.47% | +50.43% |
Average DrawdownAverage peak-to-trough decline | -2.32% | -16.85% | +14.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.70% | 30.58% | -29.88% |
Volatility
LQDW vs. IBIT - Volatility Comparison
The current volatility for iShares Investment Grade Corporate Bond Buywrite Strategy ETF (LQDW) is 1.00%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 13.18%. 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 | 1.00% | 13.18% | -12.18% |
Volatility (6M)Calculated over the trailing 6-month period | 3.12% | 34.64% | -31.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.62% | 44.31% | -40.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.47% | 50.22% | -44.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.47% | 50.22% | -44.75% |
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 12.49%, 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 | 12.49% | 16.02% | 15.74% | 19.28% | 8.85% |
Frequently Asked Questions
LQDW and IBIT have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (13.18%) compared to LQDW (1.00%). In terms of maximum drawdown, LQDW dropped -9.20% vs IBIT's -52.11%.
On 1-year performance, LQDW leads with 6.49% vs -39.82% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, LQDW has been the lower-risk option at 1.00%. 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 6.49% return vs -39.82%. 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 12.49%, 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 (1.80 vs -0.90), 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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