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TSDLX vs. LQDH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TSDLX vs. LQDH

Last updated Jun 23, 2026

TSDLX (T. Rowe Price Short Duration Income Fund) and LQDH (iShares Interest Rate Hedged Corporate Bond ETF) are both funds - TSDLX is a Short-Term Bond fund managed by T. Rowe Price, while LQDH is a Corporate Bonds fund actively managed by iShares. Over the past 5 years, TSDLX returned 4.45%/yr vs 5.25%/yr for LQDH. At a 0.04 correlation, their price movements are largely independent. TSDLX charges 0.40%/yr vs 0.25%/yr for LQDH.

Performance

TSDLX vs. LQDH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Short Duration Income Fund (TSDLX) and iShares Interest Rate Hedged Corporate Bond ETF (LQDH). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, TSDLX achieves a 0.69% return, which is significantly lower than LQDH's 2.41% return.

TSDLX

1D
0.00%
1M
0.29%
YTD
0.69%
6M
1.21%
1Y
4.35%
3Y*
8.64%
5Y*
4.45%
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%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TSDLX vs. LQDH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
TSDLX
T. Rowe Price Short Duration Income Fund		0.69%7.65%10.89%9.91%-5.69%0.77%0.10%
LQDH
iShares Interest Rate Hedged Corporate Bond ETF		2.41%7.00%7.43%11.14%-1.88%1.84%1.16%

Correlation

The correlation between TSDLX and LQDH is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.10

Correlation (3Y)
Calculated over the trailing 3-year period

0.03

Correlation (5Y)
Calculated over the trailing 5-year period

0.03

Correlation (All Time)
Calculated using the full available price history since Dec 8, 2020

0.04

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

T. Rowe Price Short Duration Income Fund

iShares Interest Rate Hedged Corporate Bond ETF

Often compared with TSDLX:
TSDLX vs. DHEIXTSDLX vs. MYFRXTSDLX vs. JAAATSDLX vs. STBFXTSDLX vs. DHEAXTSDLX vs. TRBUXTSDLX vs. DTCPX
Often compared with LQDH:
LQDH vs. LQDLQDH vs. SGOVLQDH vs. IGBHLQDH vs. IGHGLQDH vs. LQDWLQDH vs. VRIGLQDH vs. HYGH

Return for Risk

TSDLX vs. LQDH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TSDLX
TSDLX Risk / Return Rank: 8989
Overall Rank
TSDLX Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
TSDLX Sortino Ratio Rank: 9696
Sortino Ratio Rank
TSDLX Omega Ratio Rank: 9494
Omega Ratio Rank
TSDLX Calmar Ratio Rank: 8383
Calmar Ratio Rank
TSDLX Martin Ratio Rank: 8787
Martin Ratio Rank
LQDH
LQDH Risk / Return Rank: 8282
Overall Rank
LQDH Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
LQDH Sortino Ratio Rank: 9292
Sortino Ratio Rank
LQDH Omega Ratio Rank: 9090
Omega Ratio Rank
LQDH Calmar Ratio Rank: 6666
Calmar Ratio Rank
LQDH Martin Ratio Rank: 7474
Martin Ratio Rank
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.

TSDLX vs. LQDH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Short Duration Income Fund (TSDLX) 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.

TSDLXLQDHDifference
Sharpe ratioReturn per unit of total volatility
2.52
2.77

-0.25

Sortino ratioReturn per unit of downside risk
4.93
4.26

+0.68

Omega ratioGain probability vs. loss probability

1.70

1.56

+0.15

Calmar ratioReturn relative to maximum drawdown

3.66

3.16

+0.50

Martin ratioReturn relative to average drawdown

15.34

13.45

+1.89

TSDLX vs. LQDH - Sharpe Ratio Comparison

The current TSDLX Sharpe Ratio is 2.52, which is comparable to the LQDH Sharpe Ratio of 2.77. The chart below compares the historical Sharpe Ratios of TSDLX and LQDH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

TSDLX vs. LQDH - Drawdown Comparison

The maximum TSDLX drawdown since its inception was -7.86%, smaller than the maximum LQDH drawdown of -24.63%. Use the drawdown chart below to compare losses from any high point for TSDLX and LQDH.

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Drawdown Indicators

TSDLXLQDHDifference

Max Drawdown

Largest peak-to-trough decline

-7.86%

-24.63%

+16.77%

Max Drawdown (1Y)

Largest decline over 1 year

-1.26%

-2.34%

+1.08%

Max Drawdown (3Y)

Largest decline over 3 years

-1.26%

-4.86%

+3.60%

Max Drawdown (5Y)

Largest decline over 5 years

-7.86%

-7.08%

-0.78%

Max Drawdown (10Y)

Largest decline over 10 years

—

-24.63%

—

Current Drawdown

Current decline from peak

-0.32%

-0.15%

-0.17%

Average Drawdown

Average peak-to-trough decline

-1.50%

-1.67%

+0.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.30%

0.55%

-0.25%

Volatility

TSDLX vs. LQDH - Volatility Comparison

T. Rowe Price Short Duration Income Fund (TSDLX) has a higher volatility of 0.56% compared to iShares Interest Rate Hedged Corporate Bond ETF (LQDH) at 0.45%. This indicates that TSDLX'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.

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Volatility by Period

TSDLXLQDHDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.56%

0.45%

+0.11%

Volatility (6M)

Calculated over the trailing 6-month period

1.33%

2.03%

-0.70%

Volatility (1Y)

Calculated over the trailing 1-year period

1.83%

2.68%

-0.85%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

2.44%

4.41%

-1.97%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

2.33%

6.44%

-4.11%

TSDLX vs. LQDH - Expense Ratio Comparison

TSDLX has a 0.40% expense ratio, which is higher than LQDH's 0.25% expense ratio.

Dividends

TSDLX vs. LQDH - Dividend Comparison

TSDLX's dividend yield for the trailing twelve months is around 4.71%, less than LQDH's 5.94% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
TSDLX
T. Rowe Price Short Duration Income Fund		4.71%6.06%9.64%7.72%1.82%1.69%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

TSDLX and LQDH have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

TSDLX has higher volatility (0.56%) compared to LQDH (0.45%). In terms of maximum drawdown, TSDLX dropped -7.86% vs LQDH's -24.63%.

LQDH currently has the higher Sharpe Ratio (2.77 vs 2.52), 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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