IBDQ vs. MILK

Last updated Jun 4, 2026

IBDQ (iShares iBonds Dec 2025 Term Corporate ETF) and MILK (Pacer US Cash Cows Bond ETF) are both Corporate Bonds funds - IBDQ tracks the Bloomberg December 2025 Maturity Corporate while MILK tracks the Solactive Pacer US Cash Cows Bond Index. Both are passively managed. At a 0.01 correlation, their price movements are largely independent. IBDQ charges 0.10%/yr vs 0.49%/yr for MILK.

Performance

IBDQ vs. MILK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2025 Term Corporate ETF (IBDQ) and Pacer US Cash Cows Bond ETF (MILK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBDQ

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MILK

• 1D: -0.24%
• 1M: 1.10%
• YTD: 2.18%
• 6M: 1.55%
• 1Y: 9.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBDQ vs. MILK - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IBDQ iShares iBonds Dec 2025 Term Corporate ETF	0.00%	4.13%	0.16%
MILK Pacer US Cash Cows Bond ETF	2.18%	7.49%	-0.35%

Correlation

The correlation between IBDQ and MILK is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.02
Correlation (All Time) Calculated using the full available price history since Dec 19, 2024	0.01

Return for Risk

IBDQ vs. MILK — Risk / Return Rank

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

MILK

MILK Risk / Return Rank: 52
MILK Sharpe Ratio Rank: 53
MILK Sortino Ratio Rank: 55
MILK Omega Ratio Rank: 51
MILK Calmar Ratio Rank: 50
MILK Martin Ratio Rank: 53

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.

IBDQ vs. MILK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2025 Term Corporate ETF (IBDQ) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	IBDQ	MILK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.97	—

Drawdowns

Drawdown Indicators

	IBDQ	MILK	Difference
Max Drawdown Largest peak-to-trough decline	—	-6.16%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-3.75%	—
Current Drawdown Current decline from peak	—	-0.24%	—
Average Drawdown Average peak-to-trough decline	—	-1.09%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.04%	—

Volatility

Volatility by Period

	IBDQ	MILK	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.58%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.78%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	5.21%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	6.69%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	6.69%	—

IBDQ vs. MILK - Expense Ratio Comparison

IBDQ has a 0.10% expense ratio, which is lower than MILK's 0.49% expense ratio.

Dividends

IBDQ vs. MILK - Dividend Comparison

IBDQ's dividend yield for the trailing twelve months is around 2.08%, less than MILK's 7.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IBDQ iShares iBonds Dec 2025 Term Corporate ETF	2.08%	3.77%	3.81%	3.27%	2.23%	2.07%	2.51%	3.21%	3.52%	3.28%	3.39%	2.64%
MILK Pacer US Cash Cows Bond ETF	7.04%	6.97%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBDQ and MILK in my portfolio?

IBDQ and MILK have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IBDQ or MILK?

On fees, IBDQ is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBDQ or MILK?

IBDQ is cheaper with a 0.10% expense ratio, compared with 0.49% for MILK.

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

MILK has the higher dividend yield at 7.04%, compared with 2.08% for IBDQ.

What is the main difference between IBDQ and MILK?

IBDQ tracks Bloomberg December 2025 Maturity Corporate, while MILK tracks Solactive Pacer US Cash Cows Bond Index. They also come from different issuers: iShares and Pacer. Their fees differ too: 0.10% for IBDQ and 0.49% for MILK.