iShares Investment Grade Corporate Bond BuyWrite Strategy ETF
$22.510.00 (0.00%)
- 0.34%
- $347M
- +0.5%
- 12.59%
- 0.1M sh
- $22.49
- low $22.29high $25.43
The ETF.net LQDW Grade
A
Score 86 out of 100
- 1 of 25
Score 86 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.A100 out of 100Rank 1 of 25Mission
Whether the fund did what it promised, tested against its stated mandate.A92 out of 100Rank 2 of 5Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B65 out of 100Rank 4 of 25Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A75 out of 100Rank 3 of 25Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A100 out of 100Rank 1 of 19Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A81 out of 100Rank 3 of 25
Our read on LQDW
ACovered calls, but on bonds. LQDW owns iShares' flagship investment-grade corporate bond fund and writes monthly calls against it, paying distributions monthly, at less than half the option-income cohort's median fee.
The fund seeks to track a strategy holding LQD while writing monthly covered calls to generate income.
Why people hold it
- At 0.34%, it undercuts the typical option-income fund by well over half (cohort median 0.75%), so less of the premium collected leaks out as fees.
- One ticker buys the whole trade: shares of LQD plus a rules-based monthly call overlay. No options approval, no roll dates to babysit.ishares.com
- A thin niche. Most option-income funds write calls on stock baskets; this one sits on investment-grade corporate credit instead.
- Distributions land monthly, and since its 2022 launch the fund has stuck closely to its stated strategy, among the tighter implementations in its peer group.
Worth knowing
- Written calls cap the upside. If corporate bonds rally hard, the premium collected is the consolation for price gains handed to the call buyer.
- Premium cushions, it does not shield. Widening credit spreads or rising rates still hit the underlying bond portfolio.
- Mid-sized and moderately traded rather than a giant, so spreads can run wider than in the biggest option-income names, especially in fast markets.
LQDW Holdings
- Bonds
- 2
- 100%
- Ishares Iboxx $ Inv Grade Corporat
Geography
- United States100.00%
LQDW Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.
LQDW$10,054
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | LQDW |
|---|---|
| Year to date | −0.4% |
| 1 month | −0.1% |
| 3 months | −1.6% |
| 1 year | +0.5% |
| 3 years | +4.0% |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | LQDW |
|---|---|---|
| 2026 YTD | −0.4% | |
| 2025 | +9.1% | |
| 2024 | +2.6% | |
| 2023 | +4.0% | |
| 2022 | −6.8% |
LQDW in the news
Category Review
Index option income was not one bet this year
LQDW Dividends
- 12.59%
- $2.83
- $0.38 per share
- Monthly
Distribution history
LQDW Risk
- 4.2%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.21
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −9.2%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.59
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
LQDW Cost
0.34%
LQDW0.34%
- The middle half of Index Option Income funds
- Median 0.81%
No Index Option Income fund charges less.
Other funds in Index Option Income
- AEFAAInvesco MSCI EAFE Income Advantage ETFExpense ratio 0.42%1 year return +13.5%
- AKNGFT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETFExpense ratio 0.74%1 year return +10.2%
- BIDUBAptus International Enhanced Yield ETFExpense ratio 0.44%1 year return +23.2%
- BACYNFT Vest Laddered Autocallable Barrier & Income ETFExpense ratio 0.75%1 year return —
- BLQTIFT Vest Investment Grade & Target Income ETFExpense ratio 0.65%1 year return −3.0%