SPB vs. LQD

Last updated Jun 3, 2026

SPB (Spectrum Brands Holdings, Inc.) is a stock, while LQD (iShares iBoxx $ Investment Grade Corporate Bond ETF) is Corporate Bonds fund tracking the iBoxx $ Liquid Investment Grade Index. Over the past 10 years, SPB returned -1.47%/yr vs 2.55%/yr for LQD. At a 0.08 correlation, their price movements are largely independent.

Performance

SPB vs. LQD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Spectrum Brands Holdings, Inc. (SPB) and iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPB achieves a 36.83% return, which is significantly higher than LQD's 0.74% return. Over the past 10 years, SPB has underperformed LQD with an annualized return of -1.47%, while LQD has yielded a comparatively higher 2.55% annualized return.

SPB

• 1D: 2.70%
• 1M: -3.16%
• YTD: 36.83%
• 6M: 40.76%
• 1Y: 49.51%
• 3Y*: 5.19%
• 5Y*: 0.74%
• 10Y*: -1.47%

LQD

• 1D: -0.01%
• 1M: 0.67%
• YTD: 0.74%
• 6M: 0.47%
• 1Y: 6.42%
• 3Y*: 5.05%
• 5Y*: 0.15%
• 10Y*: 2.55%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SPB vs. LQD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPB Spectrum Brands Holdings, Inc.	36.83%	-27.90%	7.96%	34.08%	-38.13%	31.26%	26.86%	56.71%	-61.51%	-6.83%
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF	0.74%	7.90%	0.86%	9.40%	-17.92%	-1.84%	10.97%	17.37%	-3.79%	7.06%

Correlation

The correlation between SPB and LQD is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (10Y) Calculated over the trailing 10-year period	0.16
Correlation (All Time) Calculated using the full available price history since Sep 3, 2009	0.08

Over the past year, SPB and LQD have become more correlated (0.30) than their long-term average of 0.08, meaning their price movements have been converging.

Return for Risk

SPB vs. LQD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPB

SPB Risk / Return Rank: 77
SPB Sharpe Ratio Rank: 79
SPB Sortino Ratio Rank: 75
SPB Omega Ratio Rank: 72
SPB Calmar Ratio Rank: 80
SPB Martin Ratio Rank: 79

LQD

LQD Risk / Return Rank: 33
LQD Sharpe Ratio Rank: 33
LQD Sortino Ratio Rank: 33
LQD Omega Ratio Rank: 31
LQD Calmar Ratio Rank: 37
LQD Martin Ratio Rank: 33

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SPB vs. LQD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Spectrum Brands Holdings, Inc. (SPB) 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.

	SPB	LQD	Difference
Sharpe ratio Return per unit of total volatility	1.37	1.20	+0.16
Sortino ratio Return per unit of downside risk	2.05	1.77	+0.28
Omega ratio Gain probability vs. loss probability	1.24	1.21	+0.03
Calmar ratio Return relative to maximum drawdown	2.68	1.83	+0.85
Martin ratio Return relative to average drawdown	6.29	5.26	+1.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPB vs. LQD - Sharpe Ratio Comparison

The current SPB Sharpe Ratio is 1.37, which is comparable to the LQD Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of SPB and LQD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SPB	LQD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.37	1.20	+0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.02	0.02	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.04	0.29	-0.33
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	0.54	-0.25

Drawdowns

SPB vs. LQD - Drawdown Comparison

The maximum SPB drawdown since its inception was -81.97%, which is greater than LQD's maximum drawdown of -24.95%. Use the drawdown chart below to compare losses from any high point for SPB and LQD.

Drawdown Indicators

	SPB	LQD	Difference
Max Drawdown Largest peak-to-trough decline	-81.97%	-24.95%	-57.02%
Max Drawdown (1Y) Largest decline over 1 year	-15.76%	-3.34%	-12.42%
Max Drawdown (3Y) Largest decline over 3 years	-46.30%	-8.43%	-37.87%
Max Drawdown (5Y) Largest decline over 5 years	-62.73%	-24.95%	-37.78%
Max Drawdown (10Y) Largest decline over 10 years	-81.97%	-24.95%	-57.02%
Current Drawdown Current decline from peak	-30.49%	-3.45%	-27.04%
Average Drawdown Average peak-to-trough decline	-26.06%	-3.99%	-22.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.72%	1.16%	+5.56%

Volatility

SPB vs. LQD - Volatility Comparison

Spectrum Brands Holdings, Inc. (SPB) has a higher volatility of 14.47% compared to iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) at 1.66%. This indicates that SPB's price experiences larger fluctuations and is considered to be riskier than LQD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPB	LQD	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.47%	1.66%	+12.81%
Volatility (6M) Calculated over the trailing 6-month period	25.15%	3.92%	+21.23%
Volatility (1Y) Calculated over the trailing 1-year period	36.68%	5.36%	+31.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.90%	8.65%	+28.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.39%	8.68%	+31.71%

Dividends

SPB vs. LQD - Dividend Comparison

SPB's dividend yield for the trailing twelve months is around 2.35%, less than LQD's 4.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF	4.56%	4.48%	4.45%	3.99%	3.30%	2.30%	2.66%	3.29%	3.67%	3.10%	3.34%	3.47%
SPB Spectrum Brands Holdings, Inc.	2.35%	3.18%	2.05%	2.11%	3.45%	1.65%	2.20%	2.61%	4.12%	1.49%	1.24%	1.30%

Frequently Asked Questions

Can I hold both SPB and LQD in my portfolio?

SPB and LQD have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPB or LQD?

SPB has higher volatility (14.47%) compared to LQD (1.66%). In terms of maximum drawdown, SPB dropped -81.97% vs LQD's -24.95%.

Which has better risk-adjusted returns?

SPB currently has the higher Sharpe Ratio (1.37 vs 1.20), 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.