PBTP vs. LQDH
PBTP (Invesco PureBeta 0-5 Yr US TIPS ETF) and LQDH (iShares Interest Rate Hedged Corporate Bond ETF) are both exchange-traded funds - PBTP is a Inflation-Protected Bonds fund tracking the ICE BofA U.S. Treasuries Inflation-Linked (0-5 Y), while LQDH is a Corporate Bonds fund actively managed by iShares. PBTP is passively managed, while LQDH is actively managed. Over the past 5 years, PBTP returned 3.22%/yr vs 5.25%/yr for LQDH. At a 0.08 correlation, their price movements are largely independent. PBTP charges 0.07%/yr vs 0.25%/yr for LQDH.
Performance
PBTP vs. LQDH - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PBTP achieves a 1.42% return, which is significantly lower than LQDH's 2.41% return.
PBTP
- 1D
- -0.18%
- 1M
- -0.30%
- YTD
- 1.42%
- 6M
- 1.44%
- 1Y
- 3.62%
- 3Y*
- 4.97%
- 5Y*
- 3.22%
- 10Y*
- —
LQDH
- 1D
- 0.06%
- 1M
- 0.30%
- YTD
- 2.41%
- 6M
- 2.78%
- 1Y
- 7.38%
- 3Y*
- 7.84%
- 5Y*
- 5.25%
- 10Y*
- 4.66%
PBTP vs. LQDH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF | 1.42% | 5.98% | 4.72% | 4.53% | -3.02% | 5.51% | 4.89% | 4.72% | 0.59% | 0.04% |
LQDH iShares Interest Rate Hedged Corporate Bond ETF | 2.41% | 7.00% | 7.43% | 11.14% | -1.88% | 1.84% | 1.68% | 9.50% | -2.20% | 2.60% |
Correlation
The correlation between PBTP and LQDH is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2017 | 0.08 |
The correlation between PBTP and LQDH shifts across timeframes, from -0.15 (1 year) to 0.09 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PBTP vs. LQDH — Risk / Return Rank
PBTP
LQDH
PBTP vs. LQDH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) and iShares Interest Rate Hedged Corporate Bond ETF (LQDH). 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.
| PBTP | LQDH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.56 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 4.98 | 3.16 | +1.82 |
| Martin ratioReturn relative to average drawdown | 17.63 | 13.45 | +4.17 |
Loading charts...
Drawdowns
PBTP vs. LQDH - Drawdown Comparison
The maximum PBTP drawdown since its inception was -5.44%, smaller than the maximum LQDH drawdown of -24.63%. Use the drawdown chart below to compare losses from any high point for PBTP and LQDH.
Loading charts...
Drawdown Indicators
| PBTP | LQDH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.44% | -24.63% | +19.19% |
Max Drawdown (1Y)Largest decline over 1 year | -0.73% | -2.34% | +1.61% |
Max Drawdown (3Y)Largest decline over 3 years | -1.03% | -4.86% | +3.83% |
Max Drawdown (5Y)Largest decline over 5 years | -5.44% | -7.08% | +1.64% |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.63% | — |
Current DrawdownCurrent decline from peak | -0.73% | -0.15% | -0.58% |
Average DrawdownAverage peak-to-trough decline | -0.75% | -1.67% | +0.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | 0.55% | -0.34% |
Volatility
PBTP vs. LQDH - Volatility Comparison
Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) has a higher volatility of 0.63% compared to iShares Interest Rate Hedged Corporate Bond ETF (LQDH) at 0.45%. This indicates that PBTP's price experiences larger fluctuations and is considered to be riskier than LQDH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PBTP | LQDH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.63% | 0.45% | +0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 1.17% | 2.03% | -0.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.62% | 2.68% | -1.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.85% | 4.41% | -1.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.64% | 6.44% | -3.80% |
PBTP vs. LQDH - Expense Ratio Comparison
PBTP has a 0.07% expense ratio, which is lower than LQDH's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
PBTP vs. LQDH - Dividend Comparison
PBTP's dividend yield for the trailing twelve months is around 5.86%, less than LQDH's 5.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LQDH iShares Interest Rate Hedged Corporate Bond ETF | 5.94% | 6.06% | 7.57% | 7.69% | 3.73% | 1.65% | 2.22% | 3.09% | 5.08% | 2.37% | 2.33% | 2.98% |
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF | 5.86% | 3.82% | 2.59% | 2.36% | 5.33% | 3.12% | 1.25% | 2.12% | 2.33% | 0.73% | 0.00% | 0.00% |
Frequently Asked Questions
PBTP and LQDH have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PBTP has higher volatility (0.63%) compared to LQDH (0.45%). In terms of maximum drawdown, PBTP dropped -5.44% vs LQDH's -24.63%.
On 5-year performance, LQDH leads with 5.25% vs 3.22% for PBTP. On fees, PBTP is cheaper at 0.07% per year. On volatility, LQDH has been the lower-risk option at 0.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, LQDH has performed better with a 5.25% return vs 3.22%. 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 0.25% for LQDH.
LQDH has the higher dividend yield at 5.94%, compared with 5.86% for PBTP.
PBTP is categorized as Inflation-Protected Bonds, while LQDH is Corporate Bonds. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.07% for PBTP and 0.25% for LQDH.
LQDH currently has the higher Sharpe Ratio (2.77 vs 2.25), 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.
Find the right allocation for PBTP and LQDH
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer