FISR vs. IUSB

Last updated Jun 4, 2026

FISR (SPDR SSGA Fixed Income Sector Rotation ETF) and IUSB (iShares Core Universal USD Bond ETF) are both Intermediate Core-Plus Bond funds. FISR is actively managed, while IUSB is passively managed. Over the past 5 years, FISR returned -0.78%/yr vs 0.44%/yr for IUSB. Their correlation of 0.92 suggests significant overlap in exposure. FISR charges 0.50%/yr vs 0.06%/yr for IUSB.

Performance

FISR vs. IUSB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR SSGA Fixed Income Sector Rotation ETF (FISR) and iShares Core Universal USD Bond ETF (IUSB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FISR achieves a -0.13% return, which is significantly lower than IUSB's 0.43% return.

FISR

• 1D: -0.39%
• 1M: 0.21%
• YTD: -0.13%
• 6M: -0.33%
• 1Y: 4.75%
• 3Y*: 3.27%
• 5Y*: -0.78%
• 10Y*: —

IUSB

• 1D: -0.17%
• 1M: 0.31%
• YTD: 0.43%
• 6M: 0.31%
• 1Y: 5.54%
• 3Y*: 4.51%
• 5Y*: 0.44%
• 10Y*: 1.94%

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

FISR vs. IUSB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FISR SPDR SSGA Fixed Income Sector Rotation ETF	-0.13%	6.32%	1.01%	5.28%	-15.73%	-1.70%	5.86%	6.81%
IUSB iShares Core Universal USD Bond ETF	0.43%	7.38%	2.11%	6.23%	-13.04%	-1.33%	7.62%	6.01%

Correlation

The correlation between FISR and IUSB is 0.95, 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Apr 4, 2019	0.92

The correlation between FISR and IUSB has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

FISR vs. IUSB - Sectors Allocation Comparison

Sectors	FISR	IUSB
Financial Services	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	100.0%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

FISR vs. IUSB — Risk / Return Rank

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

FISR

FISR Risk / Return Rank: 30
FISR Sharpe Ratio Rank: 30
FISR Sortino Ratio Rank: 30
FISR Omega Ratio Rank: 28
FISR Calmar Ratio Rank: 32
FISR Martin Ratio Rank: 31

IUSB

IUSB Risk / Return Rank: 43
IUSB Sharpe Ratio Rank: 43
IUSB Sortino Ratio Rank: 45
IUSB Omega Ratio Rank: 41
IUSB Calmar Ratio Rank: 43
IUSB Martin Ratio Rank: 41

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.

FISR vs. IUSB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR SSGA Fixed Income Sector Rotation ETF (FISR) and iShares Core Universal USD Bond ETF (IUSB). 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.

	FISR	IUSB	Difference
Sharpe ratio: Return per unit of total volatility	1.09	1.54	-0.45
Sortino ratio: Return per unit of downside risk	1.62	2.30	-0.68
Omega ratio: Gain probability vs. loss probability	1.19	1.27	-0.08
Calmar ratio: Return relative to maximum drawdown	1.56	2.20	-0.65
Martin ratio: Return relative to average drawdown	4.53	6.68	-2.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FISR vs. IUSB - Sharpe Ratio Comparison

The current FISR Sharpe Ratio is 1.09, which is comparable to the IUSB Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of FISR and IUSB, 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

	FISR	IUSB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.09	1.54	-0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.12	0.08	-0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.39	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	0.46	-0.34

Drawdowns

FISR vs. IUSB - Drawdown Comparison

The maximum FISR drawdown since its inception was -20.27%, which is greater than IUSB's maximum drawdown of -17.90%. Use the drawdown chart below to compare losses from any high point for FISR and IUSB.

Drawdown Indicators

	FISR	IUSB	Difference
Max Drawdown Largest peak-to-trough decline	-20.27%	-17.90%	-2.37%
Max Drawdown (1Y) Largest decline over 1 year	-3.06%	-2.53%	-0.53%
Max Drawdown (3Y) Largest decline over 3 years	-6.60%	-5.82%	-0.78%
Max Drawdown (5Y) Largest decline over 5 years	-20.10%	-17.87%	-2.23%
Max Drawdown (10Y) Largest decline over 10 years	—	-17.90%	—
Current Drawdown Current decline from peak	-6.48%	-1.33%	-5.15%
Average Drawdown Average peak-to-trough decline	-7.70%	-3.59%	-4.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.05%	0.83%	+0.22%

Volatility

FISR vs. IUSB - Volatility Comparison

SPDR SSGA Fixed Income Sector Rotation ETF (FISR) has a higher volatility of 1.44% compared to iShares Core Universal USD Bond ETF (IUSB) at 1.24%. This indicates that FISR's price experiences larger fluctuations and is considered to be riskier than IUSB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FISR	IUSB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.44%	1.24%	+0.20%
Volatility (6M) Calculated over the trailing 6-month period	3.22%	2.62%	+0.60%
Volatility (1Y) Calculated over the trailing 1-year period	4.36%	3.62%	+0.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.59%	5.79%	+0.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.35%	5.04%	+1.31%

FISR vs. IUSB - Expense Ratio Comparison

FISR has a 0.50% expense ratio, which is higher than IUSB's 0.06% expense ratio.

Dividends

FISR vs. IUSB - Dividend Comparison

FISR's dividend yield for the trailing twelve months is around 4.19%, which matches IUSB's 4.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FISR SPDR SSGA Fixed Income Sector Rotation ETF	4.19%	3.97%	3.59%	3.50%	2.19%	1.87%	2.47%	2.99%	0.00%	0.00%	0.00%	0.00%
IUSB iShares Core Universal USD Bond ETF	4.23%	4.17%	4.04%	3.46%	2.53%	1.74%	2.68%	3.04%	2.98%	2.56%	2.60%	1.95%

Frequently Asked Questions

Can I hold both FISR and IUSB in my portfolio?

With a correlation of 0.95, FISR and IUSB move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FISR or IUSB?

FISR has higher volatility (1.44%) compared to IUSB (1.24%). In terms of maximum drawdown, FISR dropped -20.27% vs IUSB's -17.90%.

Which ETF is better, FISR or IUSB?

On 5-year performance, IUSB leads with 0.44% vs -0.78% for FISR. On fees, IUSB is cheaper at 0.06% per year. On volatility, IUSB has been the lower-risk option at 1.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FISR or IUSB?

Over the 5-year period, IUSB has performed better with a 0.44% return vs -0.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FISR or IUSB?

IUSB is cheaper with a 0.06% expense ratio, compared with 0.50% for FISR.

Which ETF pays a higher dividend yield, FISR or IUSB?

IUSB has the higher dividend yield at 4.23%, compared with 4.19% for FISR.

What is the main difference between FISR and IUSB?

They also come from different issuers: State Street and iShares. Their fees differ too: 0.50% for FISR and 0.06% for IUSB.

Which has better risk-adjusted returns?

IUSB currently has the higher Sharpe Ratio (1.54 vs 1.09), 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.