LQDW vs. VCIT
Compare and contrast key facts about iShares Investment Grade Corporate Bond Buywrite Strategy ETF (LQDW) and Vanguard Intermediate-Term Corporate Bond ETF (VCIT).
LQDW and VCIT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. LQDW is a passively managed fund by iShares that tracks the performance of the CBOE LQD BuyWrite Index. It was launched on Aug 18, 2022. VCIT is a passively managed fund by Vanguard that tracks the performance of the Barclays U.S. 5-10 Year Corp Index. It was launched on Nov 19, 2009. Both LQDW and VCIT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
LQDW vs. VCIT - Performance Comparison
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LQDW vs. VCIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
LQDW iShares Investment Grade Corporate Bond Buywrite Strategy ETF | 0.09% | 9.05% | 2.60% | 3.99% | -6.78% |
VCIT Vanguard Intermediate-Term Corporate Bond ETF | -0.31% | 9.34% | 3.20% | 8.98% | -2.71% |
Returns By Period
In the year-to-date period, LQDW achieves a 0.09% return, which is significantly higher than VCIT's -0.31% return.
LQDW
- 1D
- 0.08%
- 1M
- -1.23%
- YTD
- 0.09%
- 6M
- 1.24%
- 1Y
- 6.04%
- 3Y*
- 3.62%
- 5Y*
- —
- 10Y*
- —
VCIT
- 1D
- 0.14%
- 1M
- -1.52%
- YTD
- -0.31%
- 6M
- 0.49%
- 1Y
- 5.98%
- 3Y*
- 5.60%
- 5Y*
- 1.45%
- 10Y*
- 3.08%
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LQDW vs. VCIT - Expense Ratio Comparison
LQDW has a 0.34% expense ratio, which is higher than VCIT's 0.04% expense ratio.
Return for Risk
LQDW vs. VCIT — Risk / Return Rank
LQDW
VCIT
LQDW vs. VCIT - 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 Vanguard Intermediate-Term Corporate Bond ETF (VCIT). 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.
| LQDW | VCIT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.37 | 1.24 | +0.13 |
Sortino ratioReturn per unit of downside risk | 1.86 | 1.73 | +0.13 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.23 | +0.08 |
Calmar ratioReturn relative to maximum drawdown | 1.99 | 2.08 | -0.09 |
Martin ratioReturn relative to average drawdown | 8.21 | 7.27 | +0.93 |
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
| LQDW | VCIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.37 | 1.24 | +0.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.22 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.49 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.76 | -0.34 |
Correlation
The correlation between LQDW and VCIT is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
LQDW vs. VCIT - Dividend Comparison
LQDW's dividend yield for the trailing twelve months is around 14.96%, more than VCIT's 4.76% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LQDW iShares Investment Grade Corporate Bond Buywrite Strategy ETF | 14.96% | 16.02% | 15.74% | 19.28% | 8.85% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VCIT Vanguard Intermediate-Term Corporate Bond ETF | 4.76% | 4.62% | 4.43% | 3.72% | 3.03% | 2.87% | 2.78% | 3.37% | 3.61% | 3.21% | 3.29% | 3.34% |
Drawdowns
LQDW vs. VCIT - Drawdown Comparison
The maximum LQDW drawdown since its inception was -9.20%, smaller than the maximum VCIT drawdown of -20.56%. Use the drawdown chart below to compare losses from any high point for LQDW and VCIT.
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Drawdown Indicators
| LQDW | VCIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.20% | -20.56% | +11.36% |
Max Drawdown (1Y)Largest decline over 1 year | -3.14% | -2.99% | -0.15% |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.56% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.56% | — |
Current DrawdownCurrent decline from peak | -1.49% | -1.84% | +0.35% |
Average DrawdownAverage peak-to-trough decline | -2.42% | -3.18% | +0.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.76% | 0.86% | -0.10% |
Volatility
LQDW vs. VCIT - Volatility Comparison
iShares Investment Grade Corporate Bond Buywrite Strategy ETF (LQDW) has a higher volatility of 2.27% compared to Vanguard Intermediate-Term Corporate Bond ETF (VCIT) at 2.08%. This indicates that LQDW's price experiences larger fluctuations and is considered to be riskier than VCIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LQDW | VCIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.27% | 2.08% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 2.79% | 2.84% | -0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.44% | 4.85% | -0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.55% | 6.60% | -1.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.55% | 6.27% | -0.72% |