ESGB vs. TOAK

Last updated Jun 25, 2026

ESGB (IQ MacKay ESG Core Plus Bond ETF) and TOAK (Twin Oak Short Horizon Absolute Return ETF) are both exchange-traded funds - ESGB is a Intermediate Core-Plus Bond fund actively managed by IndexIQ, while TOAK is a Multistrategy fund actively managed by Twin Oak. Both are actively managed. At a correlation of -0.26, they often move in opposite directions. ESGB charges 0.39%/yr vs 0.25%/yr for TOAK.

Performance

ESGB vs. TOAK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in IQ MacKay ESG Core Plus Bond ETF (ESGB) and Twin Oak Short Horizon Absolute Return ETF (TOAK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ESGB

• 1D: 0.25%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TOAK

• 1D: 0.03%
• 1M: 0.28%
• YTD: 1.55%
• 6M: 1.53%
• 1Y: 3.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ESGB vs. TOAK - Yearly Performance Comparison

	2026 (YTD)
ESGB IQ MacKay ESG Core Plus Bond ETF	-0.18%
TOAK Twin Oak Short Horizon Absolute Return ETF	0.23%

Correlation

The correlation between ESGB and TOAK is -0.26, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 4, 2026	-0.26

Return for Risk

ESGB vs. TOAK — Risk / Return Rank

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

ESGB

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

TOAK

TOAK Risk / Return Rank: 53
TOAK Sharpe Ratio Rank: 40
TOAK Sortino Ratio Rank: 41
TOAK Omega Ratio Rank: 97
TOAK Calmar Ratio Rank: 46
TOAK 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.

ESGB vs. TOAK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IQ MacKay ESG Core Plus Bond ETF (ESGB) and Twin Oak Short Horizon Absolute Return ETF (TOAK). 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.

	ESGB	TOAK	Difference
Sharpe ratio: Return per unit of total volatility	—	1.26	—
Sortino ratio: Return per unit of downside risk	—	1.87	—
Omega ratio: Gain probability vs. loss probability	—	1.77	—
Calmar ratio: Return relative to maximum drawdown	—	2.04	—
Martin ratio: Return relative to average drawdown	—	6.19	—

Drawdowns

ESGB vs. TOAK - Drawdown Comparison

The maximum ESGB drawdown since its inception was -0.64%, smaller than the maximum TOAK drawdown of -1.81%. Use the drawdown chart below to compare losses from any high point for ESGB and TOAK.

Drawdown Indicators

	ESGB	TOAK	Difference
Max Drawdown Largest peak-to-trough decline	-0.64%	-1.81%	+1.17%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.81%	—
Current Drawdown Current decline from peak	-0.39%	-1.50%	+1.11%
Average Drawdown Average peak-to-trough decline	-0.38%	-0.15%	-0.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.59%	—

Volatility

Volatility by Period

	ESGB	TOAK	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.12%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.73%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.10%	2.91%	+1.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.10%	2.18%	+1.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.10%	2.18%	+1.92%

ESGB vs. TOAK - Expense Ratio Comparison

ESGB has a 0.39% expense ratio, which is higher than TOAK's 0.25% expense ratio.

Dividends

ESGB vs. TOAK - Dividend Comparison

Neither ESGB nor TOAK has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ESGB and TOAK in my portfolio?

ESGB and TOAK have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ESGB or TOAK?

On fees, TOAK is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ESGB or TOAK?

TOAK is cheaper with a 0.25% expense ratio, compared with 0.39% for ESGB.

Which ETF pays a higher dividend yield, ESGB or TOAK?

ESGB and TOAK have nearly identical dividend yields, around 0.00%.

What is the main difference between ESGB and TOAK?

ESGB is categorized as Intermediate Core-Plus Bond, while TOAK is Multistrategy. They also come from different issuers: IndexIQ and Twin Oak. Their fees differ too: 0.39% for ESGB and 0.25% for TOAK.