IGEB vs. MIG
IGEB (iShares Investment Grade Bond Factor ETF) and MIG (VanEck Moody's Analytics IG Corporate Bond ETF) are both Corporate Bonds funds - IGEB tracks the BlackRock Investment Grade Enhanced Bond Index while MIG tracks the MVIS Moody's Analytics US Investment Grade Corporate Bond Index (TR Gross) (MVCI). Both are passively managed. Over the past 5 years, IGEB returned 1.10%/yr vs 0.97%/yr for MIG. With a 0.96 correlation, they move nearly in lockstep. IGEB charges 0.18%/yr vs 0.20%/yr for MIG.
Performance
IGEB vs. MIG - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with IGEB having a 0.41% return and MIG slightly lower at 0.39%.
IGEB
- 1D
- -0.22%
- 1M
- 0.57%
- YTD
- 0.41%
- 6M
- 0.32%
- 1Y
- 5.98%
- 3Y*
- 5.88%
- 5Y*
- 1.10%
- 10Y*
- —
MIG
- 1D
- -0.19%
- 1M
- 0.41%
- YTD
- 0.39%
- 6M
- -0.01%
- 1Y
- 5.37%
- 3Y*
- 5.64%
- 5Y*
- 0.97%
- 10Y*
- —
IGEB vs. MIG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IGEB iShares Investment Grade Bond Factor ETF | 0.41% | 8.17% | 3.10% | 9.56% | -14.85% | -1.14% | 1.05% |
MIG VanEck Moody's Analytics IG Corporate Bond ETF | 0.39% | 7.34% | 3.38% | 8.88% | -14.51% | -0.02% | 1.26% |
Correlation
The correlation between IGEB and MIG is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2020 | 0.96 |
The correlation between IGEB and MIG has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.
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Return for Risk
IGEB vs. MIG — Risk / Return Rank
IGEB
MIG
IGEB vs. MIG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Investment Grade Bond Factor ETF (IGEB) and VanEck Moody's Analytics IG Corporate Bond ETF (MIG). 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.
| IGEB | MIG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.22 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.08 | 1.90 | +0.18 |
| Martin ratioReturn relative to average drawdown | 6.81 | 5.24 | +1.58 |
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
| IGEB | MIG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.44 | 1.27 | +0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.17 | 0.15 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.14 | +0.34 |
Drawdowns
IGEB vs. MIG - Drawdown Comparison
The maximum IGEB drawdown since its inception was -21.13%, roughly equal to the maximum MIG drawdown of -20.98%. Use the drawdown chart below to compare losses from any high point for IGEB and MIG.
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Drawdown Indicators
| IGEB | MIG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.13% | -20.98% | -0.15% |
Max Drawdown (1Y)Largest decline over 1 year | -2.88% | -2.83% | -0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -5.97% | -5.61% | -0.36% |
Max Drawdown (5Y)Largest decline over 5 years | -21.13% | -20.98% | -0.15% |
Current DrawdownCurrent decline from peak | -1.03% | -1.24% | +0.21% |
Average DrawdownAverage peak-to-trough decline | -4.90% | -6.81% | +1.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 1.03% | -0.15% |
Volatility
IGEB vs. MIG - Volatility Comparison
The current volatility for iShares Investment Grade Bond Factor ETF (IGEB) is 1.33%, while VanEck Moody's Analytics IG Corporate Bond ETF (MIG) has a volatility of 1.47%. This indicates that IGEB experiences smaller price fluctuations and is considered to be less risky than MIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGEB | MIG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.33% | 1.47% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 3.07% | 3.13% | -0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.16% | 4.26% | -0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.70% | 6.35% | +0.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.52% | 6.22% | +0.30% |
IGEB vs. MIG - Expense Ratio Comparison
IGEB has a 0.18% expense ratio, which is lower than MIG's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IGEB vs. MIG - Dividend Comparison
IGEB's dividend yield for the trailing twelve months is around 5.06%, more than MIG's 4.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
IGEB iShares Investment Grade Bond Factor ETF | 5.06% | 4.92% | 5.09% | 4.60% | 3.64% | 3.84% | 3.78% | 5.61% | 3.59% | 1.62% |
MIG VanEck Moody's Analytics IG Corporate Bond ETF | 4.78% | 4.81% | 4.68% | 4.38% | 3.06% | 2.15% | 0.18% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.91, IGEB and MIG 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.
MIG has higher volatility (1.47%) compared to IGEB (1.33%). In terms of maximum drawdown, IGEB dropped -21.13% vs MIG's -20.98%.
On 5-year performance, IGEB leads with 1.10% vs 0.97% for MIG. On fees, IGEB is cheaper at 0.18% per year. On volatility, IGEB has been the lower-risk option at 1.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IGEB has performed better with a 1.10% return vs 0.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IGEB is cheaper with a 0.18% expense ratio, compared with 0.20% for MIG.
IGEB has the higher dividend yield at 5.06%, compared with 4.78% for MIG.
IGEB tracks BlackRock Investment Grade Enhanced Bond Index, while MIG tracks MVIS Moody's Analytics US Investment Grade Corporate Bond Index (TR Gross) (MVCI). They also come from different issuers: iShares and VanEck. Their fees differ too: 0.18% for IGEB and 0.20% for MIG.
IGEB currently has the higher Sharpe Ratio (1.44 vs 1.27), 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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