LQD vs SPY

Comparison between ISHARES IBOXX $ INVESTMENT GRADE CORPORATE BOND ETF (LQD, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed LQD, delivering a return of +13.3% compared to +0.1%

LQD vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	LQD(ETF)	SPY(ETF)
Net Assets	$29B	$652B
Expense Ratio	0.14%	0.09%
Max Drawdown	30.46%	56.47%
Sharpe Ratio	0.52	2.07
5Y Beta	0.14	1.00
P/E Ratio	N/A	28.24
Forward P/E	N/A	21.85
5Y Dividends CAGR	9.18%	5.43%
5Y EPS CAGR	N/A	25.79%
Debt to Equity	N/A	22.35%
P/S Ratio	N/A	3.55
P/B Ratio	N/A	5.29

Net Assets

LQD

$29B

Winner

SPY

$652B

Expense Ratio

LQD

0.14%

Winner

SPY

0.09%

Max Drawdown

Winner

LQD

30.46%

SPY

56.47%

Sharpe Ratio

LQD

0.52

Winner

SPY

2.07

5Y Beta

Winner

LQD

0.14

SPY

1.00

P/E Ratio

LQD

N/A

SPY

28.24

Forward P/E

LQD

N/A

SPY

21.85

5Y Dividends CAGR

Winner

LQD

9.18%

SPY

5.43%

5Y EPS CAGR

LQD

N/A

SPY

25.79%

Debt to Equity

LQD

N/A

SPY

22.35%

P/S Ratio

LQD

N/A

SPY

3.55

P/B Ratio

LQD

N/A

SPY

5.29

LQD vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	LQD	SPY
1 month	+0.13%	+9.11%
3 months	-0.09%	+6.59%
6 months	+0.91%	+10.56%
1 year	+7.11%	+32.04%
5 years(CAGR)	+0.07%	+13.35%
10 years(CAGR)	+2.62%	+15.49%
Max(CAGR)	+4.51%	+8.50%

LQD

+0.13%

Winner

SPY

+9.11%

LQD

-0.09%

Winner

SPY

+6.59%

LQD

+0.91%

Winner

SPY

+10.56%

LQD

+7.11%

Winner

SPY

+32.04%

5Y(CAGR)

LQD

+0.07%

Winner

SPY

+13.35%

10Y(CAGR)

LQD

+2.62%

Winner

SPY

+15.49%

Max(CAGR)

LQD

+4.51%

Winner

SPY

+8.50%

LQD vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	LQD	SPY
2026	+0.64%	+8.27%
2025	+7.89%	+18.00%
2024	+1.55%	+25.59%
2023	+8.65%	+26.72%
2022	-17.05%	-18.64%
2021	-1.34%	+30.52%
2020	+10.74%	+17.28%
2019	+17.00%	+31.09%
2018	-3.14%	-5.24%
2017	+6.96%	+20.78%
2016	+6.27%	+13.59%
2015	-1.60%	+1.31%
2014	+8.00%	+14.56%
2013	-2.22%	+29.00%
2012	+10.67%	+14.17%
2011	+9.31%	+0.85%
2010	+8.75%	+13.14%
2009	+9.58%	+22.67%
2008	+1.20%	-36.25%
2007	+3.95%	+5.32%
2006	+3.65%	+13.85%
2005	+0.51%	+5.32%
2004	+6.48%	+10.75%
2003	+8.29%	+24.18%
2002	+9.86%	-22.42%
2001	N/A	-10.13%
2000	N/A	-8.84%
1999	N/A	+8.61%

LQD vs SPY Drawdown Comparison

The maximum drawdown for LQD was -24.96%, occurring on Oct 20, 2022. This drawdown has not yet recovered.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current LQD drawdown is -3.59%.

Rank	LQD	SPY
#1	-24.96% Sep 22, 2021 - Oct 20, 2022	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-21.76% Mar 6, 2020 - Jun 10, 2020	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-21.54% May 1, 2008 - Jan 9, 2009	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-10.86% Jan 9, 2009 - Jun 25, 2009	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-8.70% Jun 13, 2003 - Mar 5, 2004	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-8.57% May 1, 2013 - May 1, 2014	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-7.66% Mar 17, 2004 - Sep 16, 2004	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-6.64% Dec 31, 2020 - Aug 3, 2021	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-6.03% Feb 2, 2015 - Apr 1, 2016	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-5.86% Sep 6, 2016 - Jun 14, 2017	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-5.63% Dec 29, 2017 - Mar 12, 2019	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-5.23% Nov 4, 2010 - May 5, 2011	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-4.85% Aug 31, 2005 - Sep 19, 2006	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-4.66% Nov 4, 2011 - Jan 17, 2012	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-4.34% Sep 27, 2002 - Nov 7, 2002	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between LQD and SPY is 0.84 which considered as a strong positive correlation - the stocks tend to move together.

0.84

-101

Dividend Comparison (1999 - 2026)

LQD vs SPY dividend yield comparison.

Year	LQD	SPY
2026	1.52%	0.24%
2025	4.48%	1.07%
2024	4.45%	1.21%
2023	3.99%	1.40%
2022	3.30%	1.65%
2021	2.30%	1.20%
2020	2.66%	1.52%
2019	3.29%	1.75%
2018	3.67%	2.04%
2017	3.10%	1.80%
2016	3.34%	2.03%
2015	3.47%	2.06%
2014	3.39%	1.87%
2013	3.83%	1.81%
2012	3.83%	2.18%
2011	4.39%	2.05%
2010	4.87%	1.80%
2009	5.50%	1.95%
2008	5.37%	3.02%
2007	5.45%	1.85%
2006	5.04%	1.73%
2005	4.76%	1.73%
2004	4.66%	1.82%
2003	4.96%	1.47%
2002	2.26%	1.70%
2001	0.00%	1.25%
2000	0.00%	1.15%
1999	0.00%	0.24%