CORP vs. SKOR
Compare and contrast key facts about PIMCO Investment Grade Corporate Bond Index ETF (CORP) and FlexShares Credit-Scored US Corporate Bond Index Fund (SKOR).
CORP and SKOR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CORP is a passively managed fund by PIMCO that tracks the performance of the ICE BofA US Corporate. It was launched on Sep 20, 2010. SKOR is a passively managed fund by Northern Trust that tracks the performance of the NorthernTrustUS Corporate Bond Quality Value Index. It was launched on Nov 12, 2014. Both CORP and SKOR are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CORP or SKOR.
Key characteristics
| CORP | SKOR | |
|---|---|---|
| YTD Return | -1.83% | -0.96% |
| 1Y Return | 2.86% | 2.83% |
| 3Y Return (Ann) | -2.18% | -1.31% |
| 5Y Return (Ann) | 1.48% | 1.79% |
| Sharpe Ratio | 0.48 | 0.69 |
| Daily Std Dev | 6.95% | 4.74% |
| Max Drawdown | -21.21% | -15.98% |
| Current Drawdown | -9.76% | -5.54% |
Correlation
The correlation between CORP and SKOR is 0.70, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
CORP vs. SKOR - Performance Comparison
In the year-to-date period, CORP achieves a -1.83% return, which is significantly lower than SKOR's -0.96% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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CORP vs. SKOR - Expense Ratio Comparison
CORP has a 0.20% expense ratio, which is lower than SKOR's 0.22% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
CORP vs. SKOR - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Investment Grade Corporate Bond Index ETF (CORP) and FlexShares Credit-Scored US Corporate Bond Index Fund (SKOR). 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.
Dividends
CORP vs. SKOR - Dividend Comparison
CORP's dividend yield for the trailing twelve months is around 5.08%, more than SKOR's 4.43% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CORP PIMCO Investment Grade Corporate Bond Index ETF | 5.08% | 4.84% | 3.28% | 2.51% | 2.90% | 3.25% | 3.49% | 3.08% | 2.91% | 3.14% | 3.55% | 7.34% |
SKOR FlexShares Credit-Scored US Corporate Bond Index Fund | 4.43% | 3.90% | 2.56% | 2.55% | 3.38% | 3.53% | 2.85% | 2.46% | 2.74% | 2.25% | 0.31% | 0.00% |
Drawdowns
CORP vs. SKOR - Drawdown Comparison
The maximum CORP drawdown since its inception was -21.21%, which is greater than SKOR's maximum drawdown of -15.98%. Use the drawdown chart below to compare losses from any high point for CORP and SKOR. For additional features, visit the drawdowns tool.
Volatility
CORP vs. SKOR - Volatility Comparison
PIMCO Investment Grade Corporate Bond Index ETF (CORP) has a higher volatility of 2.49% compared to FlexShares Credit-Scored US Corporate Bond Index Fund (SKOR) at 1.36%. This indicates that CORP's price experiences larger fluctuations and is considered to be riskier than SKOR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.