Which paid more, HYGW or LQDW?

Over the year to Nov 4, 2026, HYGW paid 10.5% of its starting price in cash and LQDW paid 11.3%, so LQDW paid more. Cash paid is not the same as money made: the price change matters too.

Which returned more once distributions are counted, HYGW or LQDW?

With every distribution reinvested, HYGW returned +3.9% and LQDW +2.4% over the year to Nov 4, 2026.

Which is cheaper, HYGW or LQDW?

HYGW charges 0.69% a year and LQDW charges 0.34%, so LQDW is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

HYGW vs LQDW: Dividend Yield & Total Return

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Over the year to Nov 4, 2026, LQDW paid 11.3% of its price in cash against HYGW’s 10.5%, though HYGW returned more with it reinvested.

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Net assets: $109m on Nov 4, 2026 for iShares HYG Premium Income+ ETF, and $348m on Nov 3, 2026 for iShares LQD Premium Income+ ETF.

HYGW on its own →LQDW on its own →

At a glance

10.5%

HYGW cash paid, 1 year

11.3%

LQDW cash paid, 1 year

+3.9%

HYGW total return, 1 year

+2.4%

LQDW total return, 1 year

HYGW · 1 year to Nov 4, 2026 1.3 pts ahead of HYG

HYGW

+3.9%

HYG

+2.6%

1.3 pts ahead of HYG

HYGW over 1 year: paid 10.5%, price −6.8%, total +3.9%, HYG +2.6%, +1.3 pts. Data to Nov 4, 2026.

HYG

+2.6%

HYGW

+3.9%

10.5% of it arrived as cash

1.3 pts ahead of HYG

Total return, distributions reinvested

1.3 pts ahead of HYG

HYGW over 1 year: paid 10.5%, price −6.8%, total +3.9%, HYG +2.6%, +1.3 pts. Data to Nov 4, 2026.

HYG

+2.6%

HYGW

+3.9%

10.5% as cash

1.3 pts ahead of HYG

10.5% of it arrived as cash. Total return, distributions reinvested. HYGW over 1 year: paid 10.5%, price −6.8%, total +3.9%, HYG +2.6%, +1.3 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

LQDW · 1 year to Nov 4, 2026 3.5 pts ahead of LQD

LQDW

+2.4%

LQD

−1.1%

3.5 pts ahead of LQD

LQDW over 1 year: paid 11.3%, price −9.0%, total +2.4%, LQD −1.1%, +3.5 pts. Data to Nov 4, 2026.

LQD

−1.1%

LQDW

+2.4%

11.3% of it arrived as cash

3.5 pts ahead of LQD

Total return, distributions reinvested

3.5 pts ahead of LQD

LQDW over 1 year: paid 11.3%, price −9.0%, total +2.4%, LQD −1.1%, +3.5 pts. Data to Nov 4, 2026.

LQD

−1.1%

LQDW

+2.4%

3.5 pts ahead of LQD

11.3% of it arrived as cash. Both charts share one scale, with zero at the line. LQDW over 1 year: paid 11.3%, price −9.0%, total +2.4%, LQD −1.1%, +3.5 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

LQDW costs 0.35 points a year less; their one-year returns differ by 1.5 points; LQDW is 3.2 times larger.

Points (pts) are percentage points.

HYGW vs LQDW: Dividend Yield & Total Return
Measure	HYGW	LQDW
Paid and earned
Measure	HYGW	LQDW
Total return, 1 year	+3.9%	+2.4%
Price change, 1 year	fell 6.8%	fell 9.0%
Return of capital, issuer estimate	64% of the Oct 7, 2026 payment
Against its benchmark
Measure	HYGW	LQDW
Benchmark	US high yield bonds, measured through HYG	US investment grade bonds, measured through LQD
Cost and size
Measure	HYGW	LQDW
Expense ratio	0.69%	0.34%
Net assets	$109m	$350m
Holdings
Measure	HYGW	LQDW
Holdings in common	1%

ETFIQ Distribution Coverage Score · HYGW scores higher How much of what it paid out did its total return cover?

IQ Income Score30.8HYGW23.7LQDW

How much of its payouts the fund's total return covered, ranked against 167 income ETFs not writing on a single company. 100 is best. How it is computed

HYGW 30.8

LQDW 23.7

0.3, the lowest in this set 99.7, the highest

One year only, and a ratio of two published numbers: it says nothing about where a distribution came from. All income ETFs ranked by it →

Method

Risk and return

Sep 2, 2022 to Oct 30, 2026 · 217 weekly returns

HYGW LQDW

Return

Total return edge HYGW +26.3% +11.5%

Annualized edge HYGW +5.8% +2.6%

Price return edge HYGW −26.6% −40.5%

Risk

Volatility edge HYGW 3.9% 5.3%

Max drawdown edge HYGW −4.4% −7.1%

Downside capture 51.8% 61.8%

Beta 0.55 0.58

Risk-adjusted

Sharpe edge HYGW 0.29 −0.34

Sortino edge HYGW 0.40 −0.43

Treynor 0.020 −0.031

Calmar edge HYGW 1.32 0.37

Against the benchmark

Alpha −0.2% a year −1.3% a year

Alpha t-stat −0.18 −0.97

Information ratio −0.37 −0.21

Tracking error 3.4% 4.3%

Each against its own benchmark: HYGW against HYG, Sep 2, 2022 to Oct 30, 2026; LQDW against LQD, Sep 2, 2022 to Oct 30, 2026.

Reading

From Sep 2022 to Oct 2026, HYGW returned more: +26.3% to +11.5%. HYGW swung less: 3.9% to 5.3%. HYGW fell less at its worst: −4.4% to −7.1%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: HYGW vs LQDW: Dividend Yield & Total Return
Measure	HYGW	LQDW	Edge	How it is measured
Return
Total return	+26.3%	+11.5%	HYGW	Price change plus distributions, reinvested.
Annualized	+5.8%	+2.6%	HYGW	Total return as a yearly rate.
Price return	−26.6%	−40.5%	HYGW	Price change alone, distributions left out.
Risk
Volatility	3.9%	5.3%	HYGW	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	2.9%	4.2%	HYGW	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−4.4%	−7.1%	HYGW	Deepest fall from a high to the low after it.
Upside capture	56.1%	54.0%		Share of its benchmark's rise caught in the weeks it rose.
Downside capture	51.8%	61.8%		Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	0.55	0.58	Not an edge	How far it moves for each 1% its benchmark moves.
R squared	0.73	0.74	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	0.29	−0.34	HYGW	Return above Treasury bills per unit of volatility.
Sortino	0.40	−0.43	HYGW	Return above Treasury bills per unit of downside deviation.
Treynor	0.020	−0.031		Return above Treasury bills per unit of beta.
Calmar	1.32	0.37	HYGW	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	HYG	LQD		The ETF each fund is measured against.
Alpha	−0.2% a year	−1.3% a year	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	−0.18	−0.97	Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−2.1% to +1.8%	−3.9% to +1.3%	Includes zero	The 95% range for the yearly alpha.
Information ratio	−0.37	−0.21		Return against its benchmark per unit of tracking error.
Tracking error	3.4%	4.3%	Not an edge	How far weekly returns stray from the benchmark, annualized.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 217 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, HYGW and LQDW hold 1% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026.

50%

0 half 100%

half

1% in common

Positions both hold · largest shared weight first HYGW LQDW

PARAMOUNT SKYDANCE CORP 144A 0.41% 0.16%

PARAMOUNT SKYDANCE CORP 144A 0.33% 0.13%

PARAMOUNT SKYDANCE CORP 144A 0.11% 0.13%

ALLY FINANCIAL INC 0.05% 0.05%

ENERGY TRANSFER LP 0.07% 0.05%

ROGERS COMMUNICATIONS INC 0.05% 0.05%

HUMANA INC 0.08% 0.04%

PACIFICORP 0.08% 0.04%

VODAFONE GROUP PLC 0.16% 0.04%

VODAFONE GROUP PLC 0.06% 0.04%

ENERGY TRANSFER LP 0.03% 0.04%

HA SUSTAINABLE INFRASTRUCTURE CAPI 0.04% 0.03%

Only in one fund ↓

Only in HYGW

1261229 BC LTD 144A 0.56%

MERIDIAN ARC HOLDCO LLC 144A 0.44%

SOFTBANK GROUP CORP 144A 0.41%

ECHOSTAR CORP 0.40%

SOFTBANK GROUP CORP 144A 0.37%

QUIKRETE HOLDINGS INC 144A 0.36%

CLOUD SOFTWARE GROUP LLC 144A 0.34%

PR RNO PROPERTY OWNER 1 LLC 144A 0.33%

Only in LQDW

ANHEUSER-BUSCH COMPANIES LLC 0.18%

SPACE EXPLORATION TECHNOLOGIES COR 144A 0.18%

CVS HEALTH CORP 0.17%

AMAZON.COM INC 0.15%

CITIGROUP INC 0.14%

GOLDMAN SACHS GROUP INC 0.14%

T-MOBILE USA INC 0.14%

META PLATFORMS INC 0.13%

Check overlap with more funds →

Side by side

HYGW iShares HYG Premium Income+ ETF · Covered call on HYG, paying monthly LQDW iShares LQD Premium Income+ ETF · Covered call on LQD, paying monthly

Issuer iShares iShares

Strategy covered call covered call

Benchmark US high yield bonds (HYG) US investment grade bonds (LQD)

Pays monthly monthly

Payout rate, annualized 13.8% 16.5%

Expense ratio 0.69% 0.34%

Cash paid, 1 year 10.5% 11.3%

Price change, 1 year −6.8% −9.0%

Total return, 1 year +3.9% +2.4%

Benchmark return, 1 year +2.6% −1.1%

Ahead or behind +1.3 pts +3.5 pts

Return of capital, latest estimate 64% 64%

Age 4.2 years 4.2 years

Net assets, HYGW as of Nov 4, 2026 and LQDW as of Nov 3, 2026 $109m $348m

As of Nov 4, 2026. Source: ETFIQ. Cash paid: distributions over the window, as a share of the starting price. Payout rate: the latest payment, annualized, over today’s price.

Window by window

Window by window: HYGW vs LQDW: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	HYGW	LQDW	HYGW	LQDW	HYGW	LQDW
3 months	−0.3%	+0.3%	3.0%	3.6%	+0.7 pts	+1.2 pts
6 months	+1.1%	+0.4%	5.1%	5.9%	+1.5 pts	+2.3 pts
1 year	+3.9%	+2.4%	10.5%	11.3%	+1.3 pts	+3.5 pts
3 years	+19.1%	+15.7%	33.2%	38.0%	−5.3 pts	−1.7 pts
Since launchHYGW Aug 2022 · LQDW Aug 2022	+24.8%	+10.2%	47.7%	48.1%	−6.1 pts	−3.2 pts

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About each fund

HYGW

Over the year to Nov 4, 2026, HYGW paid 10.5% of its starting value in cash distributions while its price fell 6.8%. With every distribution reinvested, the fund returned +3.9%. US high yield bonds (HYG) returned +2.6% over the same days, so a holder was ahead by 1.3 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 13.8%, paid monthly. iShares estimates that 64% of the distribution paid Oct 7, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.

LQDW

Over the year to Nov 4, 2026, LQDW paid 11.3% of its starting value in cash distributions while its price fell 9.0%. With every distribution reinvested, the fund returned +2.4%. US investment grade bonds (LQD) returned −1.1% over the same days, so a holder was ahead by 3.5 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 16.5%, paid monthly.

Questions people ask

Which paid more, HYGW or LQDW?: Over the year to Nov 4, 2026, HYGW paid 10.5% of its starting price in cash and LQDW paid 11.3%, so LQDW paid more. Cash paid is not the same as money made: the price change matters too.
Which returned more once distributions are counted, HYGW or LQDW?: With every distribution reinvested, HYGW returned +3.9% and LQDW +2.4% over the year to Nov 4, 2026.
Which is cheaper, HYGW or LQDW?: HYGW charges 0.69% a year and LQDW charges 0.34%, so LQDW is cheaper. Fees come from each fund's prospectus.

Other comparisons

HYGW vs LQDM HYGW vs LQTI HYGW vs BUCK HYGW vs HYBI LQDW vs HYTI LQDW vs HYGM LQDW vs LQTI LQDW vs TLTP

Where to next

US high yield bonds (HYG) →US investment grade bonds (LQD) →HYGW on its own →LQDW on its own →HYGW dividend history →HYGW holdings →LQDW dividend history →LQDW holdings →Method →Standards and sources →

Sources and dates

HYGW and LQDW filings on SEC EDGAR ↗

HYGW and LQDW prospectus with the expense ratio (SEC) ↗

HYGW and LQDW 19a-1 distribution notice ↗

iShares page for HYGW ↗

iShares page for LQDW ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

It is a place in a set, not a rating or a recommendation.

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

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, HYGW against LQDW, data as of Nov 4, 2026. https://etfiq.com/compare/income/hygw-vs-lqdw

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