FIIG vs. AIRR

Last updated Jun 3, 2026

FIIG (First Trust Intermediate Duration Investment Grade Corporate ETF) and AIRR (First Trust RBA American Industrial Renaissance ETF) are both exchange-traded funds - FIIG is a Corporate Bonds fund actively managed by First Trust, while AIRR is a Building & Construction fund tracking the Richard Bernstein Advisors American Industrial Renaissance (TR). FIIG is actively managed, while AIRR is passively managed. Over the past year, FIIG returned 5.35% vs 65.82% for AIRR. At a 0.24 correlation, their price movements are largely independent. FIIG charges 0.65%/yr vs 0.70%/yr for AIRR.

Performance

FIIG vs. AIRR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Intermediate Duration Investment Grade Corporate ETF (FIIG) and First Trust RBA American Industrial Renaissance ETF (AIRR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIIG achieves a -0.39% return, which is significantly lower than AIRR's 31.77% return.

FIIG

• 1D: -0.02%
• 1M: -0.06%
• YTD: -0.39%
• 6M: -0.14%
• 1Y: 5.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AIRR

• 1D: 0.54%
• 1M: 3.36%
• YTD: 31.77%
• 6M: 31.32%
• 1Y: 65.82%
• 3Y*: 37.10%
• 5Y*: 25.40%
• 10Y*: 21.89%

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

FIIG vs. AIRR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FIIG First Trust Intermediate Duration Investment Grade Corporate ETF	-0.39%	8.80%	2.15%	6.83%
AIRR First Trust RBA American Industrial Renaissance ETF	31.77%	27.92%	33.45%	5.78%

Correlation

The correlation between FIIG and AIRR is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (All Time) Calculated using the full available price history since Aug 4, 2023	0.24

Return for Risk

FIIG vs. AIRR — Risk / Return Rank

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

FIIG

FIIG Risk / Return Rank: 32
FIIG Sharpe Ratio Rank: 32
FIIG Sortino Ratio Rank: 31
FIIG Omega Ratio Rank: 30
FIIG Calmar Ratio Rank: 33
FIIG Martin Ratio Rank: 34

AIRR

AIRR Risk / Return Rank: 78
AIRR Sharpe Ratio Rank: 79
AIRR Sortino Ratio Rank: 73
AIRR Omega Ratio Rank: 67
AIRR Calmar Ratio Rank: 87
AIRR Martin Ratio Rank: 86

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.

FIIG vs. AIRR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Intermediate Duration Investment Grade Corporate ETF (FIIG) and First Trust RBA American Industrial Renaissance ETF (AIRR). 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.

	FIIG	AIRR	Difference
Sharpe ratio Return per unit of total volatility	1.17	2.61	-1.45
Sortino ratio Return per unit of downside risk	1.69	3.37	-1.68
Omega ratio Gain probability vs. loss probability	1.21	1.41	-0.21
Calmar ratio Return relative to maximum drawdown	1.65	5.05	-3.41
Martin ratio Return relative to average drawdown	5.34	18.68	-13.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIIG vs. AIRR - Sharpe Ratio Comparison

The current FIIG Sharpe Ratio is 1.17, which is lower than the AIRR Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of FIIG and AIRR, 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

	FIIG	AIRR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.17	2.61	-1.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.01	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.84	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.04	0.67	+0.37

Drawdowns

FIIG vs. AIRR - Drawdown Comparison

The maximum FIIG drawdown since its inception was -5.50%, smaller than the maximum AIRR drawdown of -42.37%. Use the drawdown chart below to compare losses from any high point for FIIG and AIRR.

Drawdown Indicators

	FIIG	AIRR	Difference
Max Drawdown Largest peak-to-trough decline	-5.50%	-42.37%	+36.87%
Max Drawdown (1Y) Largest decline over 1 year	-3.15%	-13.09%	+9.94%
Max Drawdown (3Y) Largest decline over 3 years	—	-27.95%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.95%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.37%	—
Current Drawdown Current decline from peak	-1.34%	-1.86%	+0.52%
Average Drawdown Average peak-to-trough decline	-1.39%	-7.43%	+6.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.97%	3.53%	-2.56%

Volatility

FIIG vs. AIRR - Volatility Comparison

The current volatility for First Trust Intermediate Duration Investment Grade Corporate ETF (FIIG) is 1.65%, while First Trust RBA American Industrial Renaissance ETF (AIRR) has a volatility of 7.87%. This indicates that FIIG experiences smaller price fluctuations and is considered to be less risky than AIRR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIIG	AIRR	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.65%	7.87%	-6.22%
Volatility (6M) Calculated over the trailing 6-month period	3.42%	19.82%	-16.40%
Volatility (1Y) Calculated over the trailing 1-year period	4.61%	25.40%	-20.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.91%	25.29%	-19.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.91%	26.29%	-20.38%

FIIG vs. AIRR - Expense Ratio Comparison

FIIG has a 0.65% expense ratio, which is lower than AIRR's 0.70% expense ratio.

Dividends

FIIG vs. AIRR - Dividend Comparison

FIIG's dividend yield for the trailing twelve months is around 4.95%, more than AIRR's 0.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIRR First Trust RBA American Industrial Renaissance ETF	0.13%	0.19%	0.18%	0.23%	0.12%	0.05%	0.10%	0.20%	0.43%	0.30%	0.08%	0.47%
FIIG First Trust Intermediate Duration Investment Grade Corporate ETF	4.95%	4.76%	4.45%	1.72%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FIIG and AIRR in my portfolio?

FIIG and AIRR have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIIG or AIRR?

AIRR has higher volatility (7.87%) compared to FIIG (1.65%). In terms of maximum drawdown, FIIG dropped -5.50% vs AIRR's -42.37%.

Which ETF is better, FIIG or AIRR?

On 1-year performance, AIRR leads with 65.82% vs 5.35% for FIIG. On fees, FIIG is cheaper at 0.65% per year. On volatility, FIIG has been the lower-risk option at 1.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FIIG or AIRR?

Over the 1-year period, AIRR has performed better with a 65.82% return vs 5.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FIIG or AIRR?

FIIG is cheaper with a 0.65% expense ratio, compared with 0.70% for AIRR.

Which ETF pays a higher dividend yield, FIIG or AIRR?

FIIG has the higher dividend yield at 4.95%, compared with 0.13% for AIRR.

What is the main difference between FIIG and AIRR?

FIIG is categorized as Corporate Bonds, while AIRR is Building & Construction. Their fees differ too: 0.65% for FIIG and 0.70% for AIRR.

Which has better risk-adjusted returns?

AIRR currently has the higher Sharpe Ratio (2.61 vs 1.17), 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.