CORP vs. USIG

Last updated Jun 3, 2026

CORP (PIMCO Investment Grade Corporate Bond Index ETF) and USIG (iShares Broad USD Investment Grade Corporate Bond ETF) are both Corporate Bonds funds tracking the ICE BofA US Corporate, from PIMCO and iShares respectively. Both are passively managed. Over the past 10 years, CORP returned 2.81%/yr vs 2.65%/yr for USIG. Their correlation of 0.85 suggests significant overlap in exposure. CORP charges 0.20%/yr vs 0.04%/yr for USIG.

Performance

CORP vs. USIG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Investment Grade Corporate Bond Index ETF (CORP) and iShares Broad USD Investment Grade Corporate Bond ETF (USIG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with CORP having a 0.78% return and USIG slightly higher at 0.79%. Over the past 10 years, CORP has outperformed USIG with an annualized return of 2.81%, while USIG has yielded a comparatively lower 2.65% annualized return.

CORP

• 1D: -0.01%
• 1M: 0.40%
• YTD: 0.78%
• 6M: 0.79%
• 1Y: 6.41%
• 3Y*: 5.55%
• 5Y*: 1.06%
• 10Y*: 2.81%

USIG

• 1D: 0.02%
• 1M: 0.54%
• YTD: 0.79%
• 6M: 0.82%
• 1Y: 6.31%
• 3Y*: 5.55%
• 5Y*: 0.87%
• 10Y*: 2.65%

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

CORP vs. USIG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CORP PIMCO Investment Grade Corporate Bond Index ETF	0.78%	7.96%	2.47%	9.13%	-14.96%	-1.18%	9.70%	14.80%	-3.29%	6.56%
USIG iShares Broad USD Investment Grade Corporate Bond ETF	0.79%	7.86%	2.56%	8.71%	-15.30%	-1.34%	9.44%	13.99%	-2.21%	5.75%

Correlation

The correlation between CORP and USIG is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Sep 22, 2010	0.85

The correlation between CORP and USIG shifts across timeframes, from 0.85 (all time) to 0.98 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

CORP vs. USIG — Risk / Return Rank

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

CORP

CORP Risk / Return Rank: 43
CORP Sharpe Ratio Rank: 43
CORP Sortino Ratio Rank: 46
CORP Omega Ratio Rank: 42
CORP Calmar Ratio Rank: 43
CORP Martin Ratio Rank: 43

USIG

USIG Risk / Return Rank: 43
USIG Sharpe Ratio Rank: 43
USIG Sortino Ratio Rank: 45
USIG Omega Ratio Rank: 42
USIG Calmar Ratio Rank: 44
USIG Martin Ratio Rank: 43

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.

CORP vs. USIG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Investment Grade Corporate Bond Index ETF (CORP) and iShares Broad USD Investment Grade Corporate Bond ETF (USIG). 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.

	CORP	USIG	Difference
Sharpe ratio Return per unit of total volatility	1.54	1.54	0.00
Sortino ratio Return per unit of downside risk	2.28	2.26	+0.02
Omega ratio Gain probability vs. loss probability	1.27	1.27	0.00
Calmar ratio Return relative to maximum drawdown	2.16	2.18	-0.02
Martin ratio Return relative to average drawdown	7.02	7.14	-0.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CORP vs. USIG - Sharpe Ratio Comparison

The current CORP Sharpe Ratio is 1.54, which is comparable to the USIG Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of CORP and USIG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CORP	USIG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.54	1.54	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	0.13	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.39	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.54	+0.02

Drawdowns

CORP vs. USIG - Drawdown Comparison

The maximum CORP drawdown since its inception was -21.21%, roughly equal to the maximum USIG drawdown of -22.21%. Use the drawdown chart below to compare losses from any high point for CORP and USIG.

Drawdown Indicators

	CORP	USIG	Difference
Max Drawdown Largest peak-to-trough decline	-21.21%	-22.21%	+1.00%
Max Drawdown (1Y) Largest decline over 1 year	-2.88%	-2.79%	-0.09%
Max Drawdown (3Y) Largest decline over 3 years	-6.06%	-6.10%	+0.04%
Max Drawdown (5Y) Largest decline over 5 years	-21.21%	-21.45%	+0.24%
Max Drawdown (10Y) Largest decline over 10 years	-21.21%	-21.45%	+0.24%
Current Drawdown Current decline from peak	-0.85%	-0.73%	-0.12%
Average Drawdown Average peak-to-trough decline	-3.61%	-3.42%	-0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	0.85%	+0.03%

Volatility

CORP vs. USIG - Volatility Comparison

PIMCO Investment Grade Corporate Bond Index ETF (CORP) has a higher volatility of 1.37% compared to iShares Broad USD Investment Grade Corporate Bond ETF (USIG) at 1.27%. This indicates that CORP's price experiences larger fluctuations and is considered to be riskier than USIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CORP	USIG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.37%	1.27%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	3.01%	3.06%	-0.05%
Volatility (1Y) Calculated over the trailing 1-year period	4.18%	4.13%	+0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.89%	6.83%	+0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.08%	6.83%	+0.25%

CORP vs. USIG - Expense Ratio Comparison

CORP has a 0.20% expense ratio, which is higher than USIG's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

CORP vs. USIG - Dividend Comparison

CORP's dividend yield for the trailing twelve months is around 4.84%, more than USIG's 4.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CORP PIMCO Investment Grade Corporate Bond Index ETF	4.84%	4.77%	4.74%	4.12%	3.28%	2.51%	2.90%	3.25%	3.18%	3.08%	2.91%	3.14%
USIG iShares Broad USD Investment Grade Corporate Bond ETF	4.73%	4.62%	4.51%	3.94%	3.14%	2.33%	2.82%	3.37%	3.44%	3.03%	2.87%	3.24%

Frequently Asked Questions

Can I hold both CORP and USIG in my portfolio?

With a correlation of 0.98, CORP and USIG 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, CORP or USIG?

CORP has higher volatility (1.37%) compared to USIG (1.27%). In terms of maximum drawdown, CORP dropped -21.21% vs USIG's -22.21%.

Which ETF is better, CORP or USIG?

On 10-year performance, CORP leads with 2.81% vs 2.65% for USIG. On fees, USIG is cheaper at 0.04% per year. On volatility, USIG has been the lower-risk option at 1.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CORP or USIG?

Over the 10-year period, CORP has performed better with a 2.81% return vs 2.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CORP or USIG?

USIG is cheaper with a 0.04% expense ratio, compared with 0.20% for CORP.

Which ETF pays a higher dividend yield, CORP or USIG?

CORP has the higher dividend yield at 4.84%, compared with 4.73% for USIG.

What is the main difference between CORP and USIG?

Both ETFs track ICE BofA US Corporate. They also come from different issuers: PIMCO and iShares. Their fees differ too: 0.20% for CORP and 0.04% for USIG.

Which has better risk-adjusted returns?

CORP currently has the higher Sharpe Ratio (1.54 vs 1.54), 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.