STRC vs. LQDW

Last updated Jun 5, 2026

STRC (MicroStrategy Incorporated Variable Rate Series A Perpetual Stretch Preferred Stock) is a stock, while LQDW (iShares Investment Grade Corporate Bond Buywrite Strategy ETF) is Corporate Bonds fund tracking the CBOE LQD BuyWrite Index. At a 0.07 correlation, their price movements are largely independent.

Performance

STRC vs. LQDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroStrategy Incorporated Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) and iShares Investment Grade Corporate Bond Buywrite Strategy ETF (LQDW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, STRC achieves a 1.28% return, which is significantly lower than LQDW's 1.45% return.

STRC

• 1D: 0.81%
• 1M: -3.62%
• YTD: 1.28%
• 6M: 2.83%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

LQDW

• 1D: 0.20%
• 1M: 0.54%
• YTD: 1.45%
• 6M: 1.83%
• 1Y: 6.76%
• 3Y*: 3.87%
• 5Y*: —
• 10Y*: —

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

STRC vs. LQDW - Yearly Performance Comparison

	2026 (YTD)	2025
STRC MicroStrategy Incorporated Variable Rate Series A Perpetual Stretch Preferred Stock	1.28%	9.19%
LQDW iShares Investment Grade Corporate Bond Buywrite Strategy ETF	1.45%	3.09%

Correlation

The correlation between STRC and LQDW is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 31, 2025	0.07

Return for Risk

STRC vs. LQDW — Risk / Return Rank

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

LQDW

LQDW Risk / Return Rank: 59
LQDW Sharpe Ratio Rank: 58
LQDW Sortino Ratio Rank: 58
LQDW Omega Ratio Rank: 67
LQDW Calmar Ratio Rank: 54
LQDW Martin Ratio Rank: 57

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.

STRC vs. LQDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroStrategy Incorporated Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) and iShares Investment Grade Corporate Bond Buywrite Strategy ETF (LQDW). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	STRC	LQDW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.92	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.02	0.47	+0.55

Drawdowns

STRC vs. LQDW - Drawdown Comparison

The maximum STRC drawdown since its inception was -6.39%, smaller than the maximum LQDW drawdown of -9.20%. Use the drawdown chart below to compare losses from any high point for STRC and LQDW.

Drawdown Indicators

	STRC	LQDW	Difference
Max Drawdown Largest peak-to-trough decline	-6.39%	-9.20%	+2.81%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.59%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-6.74%	—
Current Drawdown Current decline from peak	-4.07%	-0.15%	-3.92%
Average Drawdown Average peak-to-trough decline	-0.55%	-2.35%	+1.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.69%	—

Volatility

Volatility by Period

	STRC	LQDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.39%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.02%	—
Volatility (1Y) Calculated over the trailing 1-year period	12.44%	3.54%	+8.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.44%	5.49%	+6.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.44%	5.49%	+6.95%

Dividends

STRC vs. LQDW - Dividend Comparison

STRC's dividend yield for the trailing twelve months is around 9.42%, less than LQDW's 12.55% yield.

Position	TTM	2025	2024	2023	2022
LQDW iShares Investment Grade Corporate Bond Buywrite Strategy ETF	12.55%	16.02%	15.74%	19.28%	8.85%
STRC MicroStrategy Incorporated Variable Rate Series A Perpetual Stretch Preferred Stock	9.42%	4.31%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both STRC and LQDW in my portfolio?

STRC and LQDW have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.