TOTR vs. LQD
TOTR (T. Rowe Price Total Return ETF) and LQD (iShares iBoxx $ Investment Grade Corporate Bond ETF) are both exchange-traded funds - TOTR is a Intermediate Core-Plus Bond fund actively managed by T. Rowe Price, while LQD is a Corporate Bonds fund tracking the iBoxx $ Liquid Investment Grade Index. TOTR is actively managed, while LQD is passively managed. Over the past 3 years, TOTR returned 4.48%/yr vs 4.92%/yr for LQD. Their correlation of 0.89 suggests significant overlap in exposure. TOTR charges 0.31%/yr vs 0.15%/yr for LQD.
Performance
TOTR vs. LQD - Performance Comparison
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Returns By Period
In the year-to-date period, TOTR achieves a 0.57% return, which is significantly lower than LQD's 0.73% return.
TOTR
- 1D
- 0.10%
- 1M
- 0.66%
- YTD
- 0.57%
- 6M
- 0.71%
- 1Y
- 4.46%
- 3Y*
- 4.48%
- 5Y*
- —
- 10Y*
- —
LQD
- 1D
- 0.12%
- 1M
- 0.88%
- YTD
- 0.73%
- 6M
- 0.70%
- 1Y
- 5.10%
- 3Y*
- 4.92%
- 5Y*
- -0.25%
- 10Y*
- 2.48%
TOTR vs. LQD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TOTR T. Rowe Price Total Return ETF | 0.57% | 7.41% | 2.43% | 6.27% | -15.88% | 0.11% |
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 0.73% | 7.90% | 0.86% | 9.40% | -17.92% | 0.09% |
Correlation
The correlation between TOTR and LQD is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2021 | 0.89 |
The correlation between TOTR and LQD has been stable across timeframes, ranging from 0.88 to 0.90 - a consistent structural relationship.
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Return for Risk
TOTR vs. LQD — Risk / Return Rank
TOTR
LQD
TOTR vs. LQD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Total Return ETF (TOTR) 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.
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.
| TOTR | LQD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.17 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.75 | 1.53 | +0.22 |
| Martin ratioReturn relative to average drawdown | 5.00 | 4.28 | +0.72 |
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Drawdowns
TOTR vs. LQD - Drawdown Comparison
The maximum TOTR drawdown since its inception was -19.63%, smaller than the maximum LQD drawdown of -24.95%. Use the drawdown chart below to compare losses from any high point for TOTR and LQD.
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Drawdown Indicators
| TOTR | LQD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.63% | -24.95% | +5.32% |
Max Drawdown (1Y)Largest decline over 1 year | -2.56% | -3.34% | +0.78% |
Max Drawdown (3Y)Largest decline over 3 years | -6.16% | -8.43% | +2.27% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.95% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.95% | — |
Current DrawdownCurrent decline from peak | -1.72% | -3.46% | +1.74% |
Average DrawdownAverage peak-to-trough decline | -8.91% | -3.99% | -4.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 1.19% | -0.30% |
Volatility
TOTR vs. LQD - Volatility Comparison
The current volatility for T. Rowe Price Total Return ETF (TOTR) is 0.92%, while iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) has a volatility of 1.42%. This indicates that TOTR 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.
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Volatility by Period
| TOTR | LQD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.92% | 1.42% | -0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 2.72% | 3.98% | -1.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.19% | 5.32% | -1.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.19% | 8.65% | -2.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.19% | 8.69% | -2.50% |
TOTR vs. LQD - Expense Ratio Comparison
TOTR has a 0.31% expense ratio, which is higher than LQD's 0.15% expense ratio.
Dividends
TOTR vs. LQD - Dividend Comparison
TOTR's dividend yield for the trailing twelve months is around 5.30%, more 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% |
TOTR T. Rowe Price Total Return ETF | 5.30% | 5.14% | 5.32% | 4.71% | 3.45% | 0.56% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TOTR and LQD have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LQD has higher volatility (1.42%) compared to TOTR (0.92%). In terms of maximum drawdown, TOTR dropped -19.63% vs LQD's -24.95%.
On 3-year performance, LQD leads with 4.92% vs 4.48% for TOTR. On fees, LQD is cheaper at 0.15% per year. On volatility, TOTR has been the lower-risk option at 0.92%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, LQD has performed better with a 4.92% return vs 4.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LQD is cheaper with a 0.15% expense ratio, compared with 0.31% for TOTR.
TOTR has the higher dividend yield at 5.30%, compared with 4.56% for LQD.
TOTR is categorized as Intermediate Core-Plus Bond, while LQD is Corporate Bonds. They also come from different issuers: T. Rowe Price and iShares. Their fees differ too: 0.31% for TOTR and 0.15% for LQD.
TOTR currently has the higher Sharpe Ratio (1.08 vs 0.96), 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.
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