FIIG vs. MILK

Last updated Aug 5, 2026

FIIG (First Trust Intermediate Duration Investment Grade Corporate ETF) and MILK (Pacer US Cash Cows Bond ETF) are both Corporate Bonds funds. FIIG is actively managed, while MILK is passively managed. Over the past year, FIIG returned 2.11% vs 4.80% for MILK. Their correlation of 0.87 means they have usually moved in the same direction. FIIG charges 0.65%/yr vs 0.49%/yr for MILK.

Performance

FIIG vs. MILK - 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 Pacer US Cash Cows Bond ETF (MILK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIIG achieves a -0.63% return, which is significantly lower than MILK's 1.76% return.

FIIG

• 1D: 0.39%
• 1M: -0.81%
• 6M: -0.35%
• YTD: -0.63%
• 1Y: 2.11%
• 3Y*: 5.25%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.59%

MILK

• 1D: 0.49%
• 1M: -0.90%
• 6M: 0.99%
• YTD: 1.76%
• 1Y: 4.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.70%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FIIG First Trust Intermediate Duration Investment Grade Corporate ETF	$3.68M	$3.58M	$3.99M
MILK Pacer US Cash Cows Bond ETF	$206.63K	$145.43K	$113.28K

FIIG vs. MILK - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FIIG First Trust Intermediate Duration Investment Grade Corporate ETF	-0.63%	8.80%	-1.35%
MILK Pacer US Cash Cows Bond ETF	1.76%	7.49%	-1.49%

Correlation

The correlation between FIIG and MILK is 0.85, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.85
Correlation (All Time) Calculated using the full available price history since Dec 18, 2024	0.87

The correlation between FIIG and MILK has been stable across timeframes, ranging from 0.85 to 0.87 - a consistent structural relationship.

Return for Risk

FIIG vs. MILK — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FIIG

FIIG Risk / Return Rank: 20
FIIG Sharpe Ratio Rank: 20
FIIG Sortino Ratio Rank: 18
FIIG Omega Ratio Rank: 17
FIIG Calmar Ratio Rank: 21
FIIG Martin Ratio Rank: 23

MILK

MILK Risk / Return Rank: 34
MILK Sharpe Ratio Rank: 35
MILK Sortino Ratio Rank: 33
MILK Omega Ratio Rank: 32
MILK Calmar Ratio Rank: 34
MILK Martin Ratio Rank: 37

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FIIG vs. MILK - 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 Pacer US Cash Cows Bond ETF (MILK). 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.

	FIIG	MILK	Difference
Sharpe ratio: Return per unit of total volatility	0.46	0.96	-0.50
Sortino ratio: Return per unit of downside risk	0.67	1.40	-0.73
Omega ratio: Gain probability vs. loss probability	1.08	1.17	-0.09
Calmar ratio: Return relative to maximum drawdown	0.67	1.28	-0.61
Martin ratio: Return relative to average drawdown	1.83	4.31	-2.48

FIIG vs. MILK - Sharpe Ratio Comparison

The current FIIG Sharpe Ratio is 0.46, which is lower than the MILK Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of FIIG and MILK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FIIG vs. MILK - Drawdown Comparison

The maximum FIIG drawdown since its inception was -5.50%, smaller than the maximum MILK drawdown of -6.16%. Use the drawdown chart below to compare losses from any high point for FIIG and MILK.

Drawdown Indicators

	FIIG	MILK	Difference
Max Drawdown Largest peak-to-trough decline	-5.50%	-6.16%	+0.66%
Max Drawdown (1Y) Largest decline over 1 year	-3.15%	-3.75%	+0.60%
Max Drawdown (3Y) Largest decline over 3 years	-5.50%	—	—
Current Drawdown Current decline from peak	-1.57%	-1.34%	-0.23%
Average Drawdown Average peak-to-trough decline	-1.39%	-1.13%	-0.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.15%	1.11%	+0.04%

Volatility

FIIG vs. MILK - Volatility Comparison

First Trust Intermediate Duration Investment Grade Corporate ETF (FIIG) and Pacer US Cash Cows Bond ETF (MILK) have volatilities of 1.36% and 1.31%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIIG	MILK	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.36%	1.31%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	3.63%	3.86%	-0.23%
Volatility (1Y) Calculated over the trailing 1-year period	4.59%	5.00%	-0.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.83%	6.55%	-0.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.83%	6.55%	-0.72%

FIIG vs. MILK - Expense Ratio Comparison

FIIG has a 0.65% expense ratio, which is higher than MILK's 0.49% expense ratio.

Dividends

FIIG vs. MILK - Dividend Comparison

FIIG's dividend yield for the trailing twelve months is around 5.02%, less than MILK's 7.01% yield.

Position	TTM	2025	2024	2023
FIIG First Trust Intermediate Duration Investment Grade Corporate ETF	5.02%	4.76%	4.45%	1.72%
MILK Pacer US Cash Cows Bond ETF	7.01%	6.97%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FIIG and MILK in my portfolio?

FIIG and MILK have a correlation of 0.85, 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 MILK?

FIIG has higher volatility (1.36%) compared to MILK (1.31%). In terms of maximum drawdown, FIIG dropped -5.50% vs MILK's -6.16%.

Which ETF is better, FIIG or MILK?

On 1-year performance, MILK leads with 4.80% vs 2.11% for FIIG. On fees, MILK is cheaper at 0.49% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FIIG or MILK?

Over the 1-year period, MILK has performed better with a 4.80% return vs 2.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FIIG or MILK?

MILK is cheaper with a 0.49% expense ratio, compared with 0.65% for FIIG.

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

MILK has the higher dividend yield at 7.01%, compared with 5.02% for FIIG.

What is the main difference between FIIG and MILK?

They also come from different issuers: First Trust and Pacer. Their fees differ too: 0.65% for FIIG and 0.49% for MILK.

Which has better risk-adjusted returns?

MILK currently has the higher Sharpe Ratio (0.96 vs 0.46), 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.