FIGB vs. PIFI
FIGB (Fidelity Investment Grade Bond ETF) and PIFI (ClearShares Piton Intermediate Fixed Income ETF) are both Intermediate Core Bond funds. Both are actively managed. Over the past 5 years, FIGB returned 0.24%/yr vs 1.02%/yr for PIFI. Their correlation of 0.87 suggests significant overlap in exposure. FIGB charges 0.36%/yr vs 0.45%/yr for PIFI.
Performance
FIGB vs. PIFI - Performance Comparison
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Returns By Period
In the year-to-date period, FIGB achieves a 0.14% return, which is significantly higher than PIFI's -0.13% return.
FIGB
- 1D
- 0.00%
- 1M
- 0.04%
- YTD
- 0.14%
- 6M
- 0.20%
- 1Y
- 4.24%
- 3Y*
- 4.08%
- 5Y*
- 0.24%
- 10Y*
- —
PIFI
- 1D
- -0.15%
- 1M
- -0.05%
- YTD
- -0.13%
- 6M
- -0.14%
- 1Y
- 3.48%
- 3Y*
- 3.73%
- 5Y*
- 1.02%
- 10Y*
- —
FIGB vs. PIFI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FIGB Fidelity Investment Grade Bond ETF | 0.14% | 6.95% | 1.51% | 6.65% | -13.43% | 1.77% |
PIFI ClearShares Piton Intermediate Fixed Income ETF | -0.13% | 6.29% | 2.52% | 4.61% | -7.15% | -0.02% |
Correlation
The correlation between FIGB and PIFI is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Mar 5, 2021 | 0.87 |
The correlation between FIGB and PIFI has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.
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Return for Risk
FIGB vs. PIFI — Risk / Return Rank
FIGB
PIFI
FIGB vs. PIFI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Investment Grade Bond ETF (FIGB) and ClearShares Piton Intermediate Fixed Income ETF (PIFI). 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.
| FIGB | PIFI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.24 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.45 | 1.81 | -0.36 |
| Martin ratioReturn relative to average drawdown | 4.50 | 5.24 | -0.74 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FIGB | PIFI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.04 | 1.34 | -0.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 0.28 | -0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.07 | 0.22 | -0.15 |
Drawdowns
FIGB vs. PIFI - Drawdown Comparison
The maximum FIGB drawdown since its inception was -18.08%, which is greater than PIFI's maximum drawdown of -10.59%. Use the drawdown chart below to compare losses from any high point for FIGB and PIFI.
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Drawdown Indicators
| FIGB | PIFI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.08% | -10.59% | -7.49% |
Max Drawdown (1Y)Largest decline over 1 year | -2.93% | -1.93% | -1.00% |
Max Drawdown (3Y)Largest decline over 3 years | -6.17% | -2.75% | -3.42% |
Max Drawdown (5Y)Largest decline over 5 years | -18.08% | -10.41% | -7.67% |
Current DrawdownCurrent decline from peak | -1.60% | -1.45% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -6.92% | -3.23% | -3.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 0.66% | +0.29% |
Volatility
FIGB vs. PIFI - Volatility Comparison
Fidelity Investment Grade Bond ETF (FIGB) has a higher volatility of 1.42% compared to ClearShares Piton Intermediate Fixed Income ETF (PIFI) at 0.81%. This indicates that FIGB's price experiences larger fluctuations and is considered to be riskier than PIFI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIGB | PIFI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.42% | 0.81% | +0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 2.87% | 1.83% | +1.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.16% | 2.61% | +1.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.28% | 3.66% | +2.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.16% | 3.48% | +2.68% |
FIGB vs. PIFI - Expense Ratio Comparison
FIGB has a 0.36% expense ratio, which is lower than PIFI's 0.45% expense ratio.
Dividends
FIGB vs. PIFI - Dividend Comparison
FIGB's dividend yield for the trailing twelve months is around 4.11%, more than PIFI's 3.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
FIGB Fidelity Investment Grade Bond ETF | 4.11% | 4.15% | 4.28% | 3.79% | 2.44% | 1.10% |
PIFI ClearShares Piton Intermediate Fixed Income ETF | 3.76% | 3.16% | 2.92% | 2.29% | 1.22% | 0.25% |
Frequently Asked Questions
FIGB and PIFI have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FIGB has higher volatility (1.42%) compared to PIFI (0.81%). In terms of maximum drawdown, FIGB dropped -18.08% vs PIFI's -10.59%.
On 5-year performance, PIFI leads with 1.02% vs 0.24% for FIGB. On fees, FIGB is cheaper at 0.36% per year. On volatility, PIFI has been the lower-risk option at 0.81%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PIFI has performed better with a 1.02% return vs 0.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FIGB is cheaper with a 0.36% expense ratio, compared with 0.45% for PIFI.
FIGB has the higher dividend yield at 4.11%, compared with 3.76% for PIFI.
They also come from different issuers: Fidelity and ClearShares. Their fees differ too: 0.36% for FIGB and 0.45% for PIFI.
PIFI currently has the higher Sharpe Ratio (1.34 vs 1.04), 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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