Which returned more over the last year, LQD or SPBO?

In the year to Oct 9, 2026, with distributions reinvested, LQD returned −3.4% and SPBO −1.8%.

Which is cheaper, LQD or SPBO?

SPBO is cheaper, by 0.11 percentage points a year. That is about $11 on $10,000 held for a year. Fees come from each fund's prospectus.

Share on X Download as PDF

Compare their flows Ask IQ about these two funds

LQD vs SPBO: Differences, Returns & Fees

LQD's duration was 8.1 years on May 31, 2026 and SPBO's 6.9 on Jun 30, 2026; SPBO charges 0.03% to LQD's 0.14%. Net assets: $28.5bn on Oct 9, 2026 for iShares iBoxx $ Investment Grade Corporate Bond ETF, and $2.1bn on Oct 8, 2026 for State Street SPDR Portfolio Corporate Bond ETF.

SPBO costs 0.11 points a year less; their one-year returns differ by 1.6 points; LQD is 13.6 times larger.

LQD vs SPBO: Differences, Returns & Fees
	LQD	SPBO
Expense ratio	0.14%	0.03%
Net assets, as of Oct 8, 2026	$29.1bn	$2.1bn
Total return, 1 year	−3.4%	−1.8%
What it tracks	US investment grade bonds	Bloomberg U.S. Corporate Bond Index ?
Holdings in common	38%
Below its high	7.8%, high on Sep 22, 2021	4.0%, high on Feb 26, 2026

Holdings in common uses holdings dated May 31, 2026 and Jun 30, 2026.

−3.4%

LQD total return, 1 year

−1.8%

SPBO total return, 1 year

0.14%

LQD expense ratio

0.03%

SPBO expense ratio

What they hold in common

By the books each fund has filed, LQD and SPBO hold 38% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated May 31, 2026 and Jun 30, 2026.

50%

half

38% in common

Positions both hold, largest shared weight first

Holding LQD SPBO

Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide Inc, due Feb 1, 2046 0.20% 0.20%

T-Mobile USA Inc, due Apr 15, 2030 0.16% 0.13%

Amazon.com Inc, due Mar 13, 2036 0.15% 0.12%

Wells Fargo & Co, due Jul 25, 2034 0.11% 0.14%

Bank of America Corp, due Jan 23, 2035 0.14% 0.10%

Pfizer Investment Enterprises Pte Ltd, due May 19, 2063 0.10% 0.10%

Amgen Inc, due Mar 2, 2033 0.11% 0.10%

Meta Platforms Inc, due Nov 15, 2032 0.10% 0.12%

Pfizer Investment Enterprises Pte Ltd, due May 19, 2053 0.15% 0.09%

Meta Platforms Inc, due Nov 15, 2045 0.10% 0.09%

Wells Fargo & Co, due Apr 24, 2034 0.09% 0.10%

JPMorgan Chase & Co, due Apr 22, 2036 0.09% 0.11%

Only in LQD

Goldman Sachs Group Inc/The, due Oct 1, 2037 0.15%

Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide Inc, due Feb 1, 2036 0.12%

Bank of America Corp, due Jul 22, 2033 0.12%

Bank of America Corp, due Apr 22, 2032 0.11%

Morgan Stanley, due Jan 30, 2037 0.10%

Bank of America Corp, due Sep 15, 2034 0.10%

Verizon Communications Inc, due Mar 15, 2032 0.09%

Bank of America Corp, due Jun 19, 2041 0.09%

Only in SPBO

Bank of America Corp, due Jul 21, 2028 0.27%

Bank of America Corp, due Mar 5, 2029 0.16%

Bank of America Corp, due Dec 20, 2028 0.16%

JPMorgan Chase & Co, due Jul 23, 2036 0.15%

Verizon Communications Inc, due Mar 22, 2028 0.15%

Goldman Sachs Group Inc/The, due Apr 23, 2029 0.14%

Bank of America Corp, due Sep 21, 2036 0.14%

AbbVie Inc, due Mar 15, 2029 0.14%

Check overlap with more funds →

On the same fields

LQD

iShares iBoxx $ Investment Grade Corporate Bond ETF

SPBO

State Street SPDR Portfolio Corporate Bond ETF

Where it sits Bond ETF Bond ETF

Issuer iShares State Street

What it is Tracks an index of US investment grade bonds Tracks an index

Total return, 1 year −3.4% −1.8%

Its benchmark over the same days not published −1.9% (VTC)

Gap to its benchmark not available +0.1 pts vs VTC

Expense ratio 0.14% 0.03%

Holdings 3167 4403

Net assets, LQD as of Oct 9, 2026 and SPBO as of Oct 8, 2026 $28.5bn $2.1bn

LQD and SPBO on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.

About LQD

LQD tracks an index of US investment grade bonds. Over the year to Oct 9, 2026 it returned −3.4% with distributions reinvested. The prospectus expense ratio is 0.14% a year. It sat 7.8% below its high of Sep 22, 2021 on Oct 9, 2026.

About SPBO

SPBO tracks an index. Over the year to Oct 9, 2026 it returned −1.8% with distributions reinvested, against −1.9% for its benchmark, the Bloomberg U.S. Corporate Bond Index ?. The prospectus expense ratio is 0.03% a year. It sat 4.0% below its high of Feb 26, 2026 on Oct 9, 2026.

Questions people ask

Which returned more over the last year, LQD or SPBO?: In the year to Oct 9, 2026, with distributions reinvested, LQD returned −3.4% and SPBO −1.8%.
Which is cheaper, LQD or SPBO?: SPBO is cheaper, by 0.11 percentage points a year. That is about $11 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

LQD vs SCHI CORP vs LQD LQD vs VTC BSCW vs LQD BSCX vs SPBO SPBO vs USIG SPBO vs VCIT SCHI vs SPBO

LQD on its own →SPBO on its own →Hold both: look the portfolio through →Rankings →Standards and sources →

Where these figures came from

LQD filings on SEC EDGAR ↗LQD prospectus with the expense ratio (SEC) ↗iShares page for LQD ↗SPBO filings on SEC EDGAR ↗SPBO prospectus with the expense ratio (SEC) ↗State Street website ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, LQD against SPBO, data as of Oct 9, 2026. https://etfiq.com/compare/any/lqd-vs-spbo

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.