MCNAX vs. LQD
Compare and contrast key facts about Madison Conservative Allocation Fund (MCNAX) and iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD).
MCNAX is managed by Madison Funds. It was launched on Jun 29, 2006. LQD is a passively managed fund by iShares that tracks the performance of the iBoxx $ Liquid Investment Grade Index. It was launched on Jul 26, 2002.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: MCNAX or LQD.
Key characteristics
| MCNAX | LQD | |
|---|---|---|
| YTD Return | 1.60% | -2.16% |
| 1Y Return | 5.96% | 3.38% |
| 3Y Return (Ann) | -1.14% | -3.39% |
| 5Y Return (Ann) | 2.37% | 0.98% |
| 10Y Return (Ann) | 3.10% | 2.21% |
| Sharpe Ratio | 0.98 | 0.32 |
| Daily Std Dev | 6.06% | 8.79% |
| Max Drawdown | -27.76% | -24.95% |
| Current Drawdown | -5.75% | -13.83% |
Correlation
The correlation between MCNAX and LQD is 0.37, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
MCNAX vs. LQD - Performance Comparison
In the year-to-date period, MCNAX achieves a 1.60% return, which is significantly higher than LQD's -2.16% return. Over the past 10 years, MCNAX has outperformed LQD with an annualized return of 3.10%, while LQD has yielded a comparatively lower 2.21% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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MCNAX vs. LQD - Expense Ratio Comparison
MCNAX has a 0.71% expense ratio, which is higher than LQD's 0.15% expense ratio.
Risk-Adjusted Performance
MCNAX vs. LQD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Madison Conservative Allocation Fund (MCNAX) and iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD). 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.
Dividends
MCNAX vs. LQD - Dividend Comparison
MCNAX's dividend yield for the trailing twelve months is around 2.02%, less than LQD's 4.31% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MCNAX Madison Conservative Allocation Fund | 2.02% | 2.40% | 1.49% | 6.65% | 7.32% | 3.75% | 5.24% | 4.24% | 3.43% | 4.51% | 6.03% | 2.86% |
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 4.31% | 3.99% | 3.30% | 2.30% | 2.66% | 3.29% | 3.67% | 3.10% | 3.34% | 3.47% | 3.39% | 3.83% |
Drawdowns
MCNAX vs. LQD - Drawdown Comparison
The maximum MCNAX drawdown since its inception was -27.76%, which is greater than LQD's maximum drawdown of -24.95%. Use the drawdown chart below to compare losses from any high point for MCNAX and LQD. For additional features, visit the drawdowns tool.
Volatility
MCNAX vs. LQD - Volatility Comparison
The current volatility for Madison Conservative Allocation Fund (MCNAX) is 1.49%, while iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) has a volatility of 1.65%. This indicates that MCNAX experiences smaller price fluctuations and is considered to be less risky than LQD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.