FEIG vs. IGHG
FEIG (FlexShares ESG & Climate Investment Grade Corporate Core Index Fund) and IGHG (ProShares Investment Grade-Interest Rate Hedged) are both Corporate Bonds funds - FEIG tracks the Northern Trust ESG & Climate Investment Grade U.S. Corporate Core TR while IGHG tracks the Citi Corporate Investment Grade (Treasury Rate-Hedged) Index. Both are passively managed. Over the past 3 years, FEIG returned 4.90%/yr vs 8.31%/yr for IGHG. At a 0.15 correlation, their price movements are largely independent. FEIG charges 0.12%/yr vs 0.30%/yr for IGHG.
Performance
FEIG vs. IGHG - Performance Comparison
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Returns By Period
In the year-to-date period, FEIG achieves a 0.52% return, which is significantly lower than IGHG's 2.08% return.
FEIG
- 1D
- -0.26%
- 1M
- 0.57%
- YTD
- 0.52%
- 6M
- 0.74%
- 1Y
- 4.92%
- 3Y*
- 4.90%
- 5Y*
- —
- 10Y*
- —
IGHG
- 1D
- 0.08%
- 1M
- -0.02%
- YTD
- 2.08%
- 6M
- 2.05%
- 1Y
- 5.77%
- 3Y*
- 8.31%
- 5Y*
- 5.18%
- 10Y*
- 4.83%
FEIG vs. IGHG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FEIG FlexShares ESG & Climate Investment Grade Corporate Core Index Fund | 0.52% | 7.31% | 1.75% | 8.57% | -15.91% | -1.54% |
IGHG ProShares Investment Grade-Interest Rate Hedged | 2.08% | 5.65% | 9.20% | 11.58% | -0.90% | -0.62% |
Correlation
The correlation between FEIG and IGHG is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2021 | 0.15 |
The correlation between FEIG and IGHG shifts across timeframes, from 0.05 (3 years) to 0.16 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FEIG vs. IGHG — Risk / Return Rank
FEIG
IGHG
FEIG vs. IGHG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares ESG & Climate Investment Grade Corporate Core Index Fund (FEIG) and ProShares Investment Grade-Interest Rate Hedged (IGHG). 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.
| FEIG | IGHG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -0.90 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.32 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 3.31 | -1.55 |
| Martin ratioReturn relative to average drawdown | 5.23 | 11.69 | -6.45 |
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Drawdowns
FEIG vs. IGHG - Drawdown Comparison
The maximum FEIG drawdown since its inception was -22.26%, smaller than the maximum IGHG drawdown of -25.16%. Use the drawdown chart below to compare losses from any high point for FEIG and IGHG.
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Drawdown Indicators
| FEIG | IGHG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.26% | -25.16% | +2.90% |
Max Drawdown (1Y)Largest decline over 1 year | -2.81% | -1.75% | -1.06% |
Max Drawdown (3Y)Largest decline over 3 years | -6.67% | -3.74% | -2.93% |
Max Drawdown (5Y)Largest decline over 5 years | — | -8.75% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -25.16% | — |
Current DrawdownCurrent decline from peak | -1.52% | -0.25% | -1.27% |
Average DrawdownAverage peak-to-trough decline | -9.43% | -2.29% | -7.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 0.49% | +0.45% |
Volatility
FEIG vs. IGHG - Volatility Comparison
FlexShares ESG & Climate Investment Grade Corporate Core Index Fund (FEIG) has a higher volatility of 1.20% compared to ProShares Investment Grade-Interest Rate Hedged (IGHG) at 0.63%. This indicates that FEIG's price experiences larger fluctuations and is considered to be riskier than IGHG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FEIG | IGHG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 0.63% | +0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 3.36% | 2.48% | +0.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.40% | 3.41% | +0.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.37% | 5.02% | +2.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.37% | 7.46% | -0.09% |
FEIG vs. IGHG - Expense Ratio Comparison
FEIG has a 0.12% expense ratio, which is lower than IGHG's 0.30% expense ratio.
Dividends
FEIG vs. IGHG - Dividend Comparison
FEIG's dividend yield for the trailing twelve months is around 4.75%, less than IGHG's 5.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FEIG FlexShares ESG & Climate Investment Grade Corporate Core Index Fund | 4.75% | 4.84% | 4.65% | 4.21% | 2.99% | 0.55% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IGHG ProShares Investment Grade-Interest Rate Hedged | 5.12% | 5.14% | 5.06% | 4.99% | 3.55% | 2.50% | 2.79% | 3.48% | 4.13% | 3.36% | 3.37% | 3.65% |
Frequently Asked Questions
FEIG and IGHG have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FEIG has higher volatility (1.20%) compared to IGHG (0.63%). In terms of maximum drawdown, FEIG dropped -22.26% vs IGHG's -25.16%.
On 3-year performance, IGHG leads with 8.31% vs 4.90% for FEIG. On fees, FEIG is cheaper at 0.12% per year. On volatility, IGHG has been the lower-risk option at 0.63%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IGHG has performed better with a 8.31% return vs 4.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FEIG is cheaper with a 0.12% expense ratio, compared with 0.30% for IGHG.
IGHG has the higher dividend yield at 5.12%, compared with 4.75% for FEIG.
FEIG tracks Northern Trust ESG & Climate Investment Grade U.S. Corporate Core TR, while IGHG tracks Citi Corporate Investment Grade (Treasury Rate-Hedged) Index. They also come from different issuers: FlexShares and ProShares. Their fees differ too: 0.12% for FEIG and 0.30% for IGHG.
IGHG currently has the higher Sharpe Ratio (1.70 vs 1.13), 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.
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