BSCY vs. MILK

Last updated Jun 24, 2026

BSCY (Invesco BulletShares 2034 Corporate Bond ETF) and MILK (Pacer US Cash Cows Bond ETF) are both Corporate Bonds funds - BSCY tracks the Nasdaq BulletShares USD Corporate Bond 2034 Index while MILK tracks the Solactive Pacer US Cash Cows Bond Index. Both are passively managed. Over the past year, BSCY returned 5.25% vs 7.66% for MILK. Their correlation of 0.92 suggests significant overlap in exposure. BSCY charges 0.10%/yr vs 0.49%/yr for MILK.

Performance

BSCY vs. MILK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BulletShares 2034 Corporate Bond ETF (BSCY) and Pacer US Cash Cows Bond ETF (MILK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BSCY achieves a 0.34% return, which is significantly lower than MILK's 2.49% return.

BSCY

• 1D: 0.10%
• 1M: 0.57%
• YTD: 0.34%
• 6M: 0.53%
• 1Y: 5.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MILK

• 1D: 0.11%
• 1M: 0.97%
• YTD: 2.49%
• 6M: 2.57%
• 1Y: 7.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BSCY vs. MILK - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BSCY Invesco BulletShares 2034 Corporate Bond ETF	0.34%	9.18%	-1.12%
MILK Pacer US Cash Cows Bond ETF	2.49%	7.49%	-1.49%

Correlation

The correlation between BSCY and MILK is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (All Time) Calculated using the full available price history since Dec 18, 2024	0.92

The correlation between BSCY and MILK has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

BSCY vs. MILK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BSCY

BSCY Risk / Return Rank: 35
BSCY Sharpe Ratio Rank: 35
BSCY Sortino Ratio Rank: 36
BSCY Omega Ratio Rank: 32
BSCY Calmar Ratio Rank: 36
BSCY Martin Ratio Rank: 38

MILK

MILK Risk / Return Rank: 46
MILK Sharpe Ratio Rank: 47
MILK Sortino Ratio Rank: 47
MILK Omega Ratio Rank: 45
MILK Calmar Ratio Rank: 45
MILK Martin Ratio Rank: 47

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BSCY vs. MILK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2034 Corporate Bond ETF (BSCY) and Pacer US Cash Cows Bond ETF (MILK). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BSCY	MILK	Difference
Sharpe ratio: Return per unit of total volatility	1.17	1.50	-0.33
Sortino ratio: Return per unit of downside risk	1.74	2.17	-0.44
Omega ratio: Gain probability vs. loss probability	1.20	1.27	-0.06
Calmar ratio: Return relative to maximum drawdown	1.70	2.05	-0.36
Martin ratio: Return relative to average drawdown	5.35	7.38	-2.04

BSCY vs. MILK - Sharpe Ratio Comparison

The current BSCY Sharpe Ratio is 1.17, which is comparable to the MILK Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of BSCY and MILK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BSCY vs. MILK - Drawdown Comparison

The maximum BSCY drawdown since its inception was -5.44%, smaller than the maximum MILK drawdown of -6.16%. Use the drawdown chart below to compare losses from any high point for BSCY and MILK.

Drawdown Indicators

	BSCY	MILK	Difference
Max Drawdown Largest peak-to-trough decline	-5.44%	-6.16%	+0.72%
Max Drawdown (1Y) Largest decline over 1 year	-3.11%	-3.75%	+0.64%
Current Drawdown Current decline from peak	-1.25%	-0.23%	-1.02%
Average Drawdown Average peak-to-trough decline	-1.23%	-1.13%	-0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.98%	1.04%	-0.06%

Volatility

BSCY vs. MILK - Volatility Comparison

Invesco BulletShares 2034 Corporate Bond ETF (BSCY) and Pacer US Cash Cows Bond ETF (MILK) have volatilities of 1.32% and 1.26%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BSCY	MILK	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.32%	1.26%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	3.40%	3.80%	-0.40%
Volatility (1Y) Calculated over the trailing 1-year period	4.53%	5.15%	-0.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.59%	6.69%	-1.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.59%	6.69%	-1.10%

BSCY vs. MILK - Expense Ratio Comparison

BSCY has a 0.10% expense ratio, which is lower than MILK's 0.49% expense ratio.

Dividends

BSCY vs. MILK - Dividend Comparison

BSCY's dividend yield for the trailing twelve months is around 4.89%, less than MILK's 7.02% yield.

Position	TTM	2025	2024
BSCY Invesco BulletShares 2034 Corporate Bond ETF	4.89%	4.79%	2.43%
MILK Pacer US Cash Cows Bond ETF	7.02%	6.97%	0.00%

Frequently Asked Questions

Can I hold both BSCY and MILK in my portfolio?

With a correlation of 0.94, BSCY and MILK move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BSCY or MILK?

BSCY has higher volatility (1.32%) compared to MILK (1.26%). In terms of maximum drawdown, BSCY dropped -5.44% vs MILK's -6.16%.

Which ETF is better, BSCY or MILK?

On 1-year performance, MILK leads with 7.66% vs 5.25% for BSCY. On fees, BSCY is cheaper at 0.10% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BSCY or MILK?

Over the 1-year period, MILK has performed better with a 7.66% return vs 5.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BSCY or MILK?

BSCY is cheaper with a 0.10% expense ratio, compared with 0.49% for MILK.

Which ETF pays a higher dividend yield, BSCY or MILK?

MILK has the higher dividend yield at 7.02%, compared with 4.89% for BSCY.

What is the main difference between BSCY and MILK?

BSCY tracks Nasdaq BulletShares USD Corporate Bond 2034 Index, while MILK tracks Solactive Pacer US Cash Cows Bond Index. They also come from different issuers: Invesco and Pacer. Their fees differ too: 0.10% for BSCY and 0.49% for MILK.

Which has better risk-adjusted returns?

MILK currently has the higher Sharpe Ratio (1.50 vs 1.17), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.