We compare the electrical and optical characteristics of mesa diodes based on In0.62Ga0.38As/In0.45Ga0.55As strain-balanced multiple-quantum wells (SB-MQW) with lattice-matched (LM) In0.53Ga0.47As diodes. The dark current density of the SB-MQW devices is at least an order of magnitude lower than the LM devices for voltages >0.4 V. Sidewall recombination current is only measured on SB-MQW diodes when exposed to a damaging plasma. While radiative recombination current dominates in the SB-MQW diodes, it is less than the diffusive current in the LM diodes for the same applied voltage. (C) 2004 American Institute of Physics.