LQDWvsSPBOETF Comparison
ETF 1
LQDW
iShares Investment Grade Corporate Bond BuyWrite Strategy ETF
This fund is part of
Options Strategies
-0.47%
VS
ETF 2
SPBO
State Street SPDR Portfolio Corporate Bond ETF
This fund is part of
US Corporate IG Bonds
-0.2%
iShares Investment Grade Corporate Bond BuyWrite Strategy ETF (LQDW) belongs to the Options Strategies segment. State Street SPDR Portfolio Corporate Bond ETF (SPBO) is part of the US Corporate IG Bonds segment. LQDW's top 3 sector exposures are Finance, Technology and Healthcare. In contrast, SPBO's top sector exposures are Finance, Utilities and Technology. LQDW is more expensive with a Total Expense Ratio (TER) of 0.34%, versus 0.03% for SPBO. LQDW is up 0.49% year-to-date (YTD) with +$58M in YTD flows. SPBO performs worse with -0.5% YTD performance, and +$411M in YTD flows. Run a side-by-side ETF comparison of LQDW and SPBO below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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LQDW vs SPBO performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/01/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | LQDW SPBO | -0.16%-0.19% | -0.78%-1.31% | +0.49%-0.50% | +3.38%+2.13% | +11.56%+16.81% | n/a-0.34% |
| Flows | LQDW SPBO | +$2M+$62M | +$55M+$227M | +$58M+$411M | +$77M+$502M | +$249M+$1.46B | -+$1.83B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | LQDW SPBO | +4.38%+4.34% | +3.93%+4.13% | +4.55%+5.48% | n/a+6.62% |
| Max drawdown | LQDW SPBO | -1.94%-2.10% | -2.59%-2.85% | -5.02%-4.67% | n/a-22.26% |
| Max drawdown duration | LQDW SPBO | 64d64d | 104d184d | 185d280d | n/a1489d |
Trading data
LQDW | SPBO | |
Last sale 9/2/2026 at 1:30 PM | $23.18 | $28.21 |
| Previous close 09/01/2026 | $23.31 | $28.19 |
| Consolidated volume 09/01/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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LQDW | SPBO | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/2/2026 at 1:30 PM
Live
Closed
LQDW | SPBO | |
|---|---|---|
| Last price | $23.18 | $28.21 |
| 1D performance | -0.58% | +0.07% |
| AuM | $318.21 M | $2.14 B |
| E/R | 0.34% | 0.03% |
Characteristics
LQDW | SPBO | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | iShares | State Street Investment Management |
| Benchmark | Cboe LQD BuyWrite Index | Bloomberg U.S. Corporate Bond Index |
| N° of holdings | 3146 | 4129 |
| Asset class | Fixed Income | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 18, 2022 | April 6, 2011 |
| ESG | No | No |
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Exposure
Countries
LQDW
USA
87.06%
Other
12.94%
SPBO
USA
84.19%
Other
15.81%
Sectors
LQDW
Finance
33.3%
Technology
13.79%
Healthcare
9.96%
Energy
8.23%
Telecommunication.
8.08%
Other
26.63%
SPBO
Finance
35.56%
Utilities
10.33%
Technology
9.56%
Healthcare
8.48%
Energy
7.11%
Other
28.96%
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Diversification
LQDW
Total weight of top 15 holdings out of 15
3.03%
SPBO
Total weight of top 15 holdings out of 15
2.4%
Top 15 holdings
Data as of July 31, 2026
LQDW
BlackRock Cash Funds - Treasury
0.96%
Anheuser-Busch, 4.9% 1feb2046, USD
0.20%
CVS Health, 5.05% 25mar2048, USD
0.17%
T-Mobile USA, 3.875% 15apr2030, USD
0.16%
Goldman Sachs, 6.75% 1oct2037, USD
0.15%
Meta Platforms, 4.875% 15nov2035, USD
0.15%
Amazon.com, 4.875% 13mar2036, USD
0.15%
Meta Platforms, 6.3% 15may2056, USD
0.14%
Space Exploration Technologies, 5.875% 15jul2036, USD
0.14%
Pfizer, 4.75% 19may2033, USD
0.14%
Anheuser-Busch, 4.7% 1feb2036, USD
0.14%
Boeing, 5.805% 1may2050, USD
0.14%
Pfizer, 5.3% 19may2053, USD
0.14%
Meta Platforms, 5.625% 15nov2055, USD
0.13%
Space Exploration Technologies, 5.65% 15jul2033, USD
0.13%
SPBO
Citigroup, 4.91% 24may2033, USD
0.21%
Bank of America Corporation, 7.75% 14may2038, USD
0.20%
JP Morgan, 5.576% 23jul2036, USD
0.19%
British American Tobacco, 7.079% 2aug2043, USD
0.17%
Anheuser-Busch, 4.9% 1feb2046, USD
0.17%
Meta Platforms, 4.6% 15nov2032, USD
0.16%
Bank of America Corporation, 3.97% 5mar2029, USD (M)
0.16%
Bank of America Corporation, 3.419% 20dec2028, USD
0.15%
Goldman Sachs, 4.411% 23apr2039, USD
0.15%
CVS Health, 6% 1jun2044, USD
0.15%
Verizon Communications, 2.1% 22mar2028, USD
0.14%
T-Mobile USA, 3.875% 15apr2030, USD
0.14%
Amazon.com, 4% 13mar2029, USD
0.14%
Goldman Sachs, 3.814% 23apr2029, USD
0.13%
PepsiCo, 5% 23jul2035, USD
0.13%
Frequently asked questions about LQDW and SPBO
How have the LQDW and SPBO ETFs performed in 2026?
As of September 1, 2026, LQDW is up 0.49% year-to-date (YTD), while SPBO has lost -0.5%. That puts LQDW better performer ahead so far this year.
Which ETF is attracting more investor money: LQDW or SPBO?
Year-to-date, the LQDW ETF saw +$58M in flows, compared to +$411M for SPBO.
Which ETF is more volatile: LQDW or SPBO?
Over the past year, LQDW had a volatility of 3.93%, while SPBO experienced 4.13%.
Which ETF is bigger: LQDW or SPBO?
As of September 1, 2026, LQDW holds $318.21 M in assets under management (AUM), while SPBO manages $2.14 B.
What sectors do the LQDW and SPBO ETFs invest in?
LQDW leans toward sectors like Finance, Technology and Healthcare. Meanwhile, SPBO focuses on Finance, Utilities and Technology.
What are the top holdings of the LQDW ETF and SPBO ETF?
LQDW top holdings include BlackRock Cash Funds - Treasury, Anheuser-Busch, 4.9% 1feb2046, USD and CVS Health, 5.05% 25mar2048, USD. SPBO holds in its top three: Citigroup, 4.91% 24may2033, USD, Bank of America Corporation, 7.75% 14may2038, USD and JP Morgan, 5.576% 23jul2036, USD.
Which ETF is more diversified: LQDW or SPBO?
LQDW holds 3147 securities with 3.03% of its assets in the top 15. SPBO has 4135 securities and a top 15 weight of 2.4%.
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