Stock returns can be affected by numerous variables. Understanding and analyzing these factors is crucial for investors to make sound investment decisions. Therefore, this study aimed to examine whether there was a difference in stock performance among rating categories in Pefindo investment grade index and to analyze and evaluate variables affecting stock return using market risk, market capitalization, bond rating, and profitability as an independent variable, with the company's age as moderating variable. This study used quantitative method with data source of secondary data taken from quarterly audited financial statements. The population of this study is public companies listed in Pefindo investment grade index for the period of 2018-2022 with purposive sampling taken from 11 companies. This study used the wilcoxon test, F-test, and panel data regression to test all the hypotheses. Based on the hypotheses testing it is indicated that there was no difference in stock performance among rating categories in Pefindo i-grade index. Moreover, market risk and profitability had a positive and significant effect on the stock return while company age had a negative and significant effect. Other variables such as market capitalization and bond rating had no effect on the stock return. Furthermore, company age could moderate the effect of market risk, market capitalization, and profitability on the stock return, however; it could not moderate the effect of bond rating on the stock return. Based on the research result this study can be used by the investor to take investment decisions by considering some factors that have been proven to affect stock return.