IGHG vs. FEIG
IGHG (ProShares Investment Grade-Interest Rate Hedged) and FEIG (FlexShares ESG & Climate Investment Grade Corporate Core Index Fund) are both Corporate Bonds funds - IGHG tracks the Citi Corporate Investment Grade (Treasury Rate-Hedged) Index while FEIG tracks the Northern Trust ESG & Climate Investment Grade U.S. Corporate Core TR. Both are passively managed. Over the past 3 years, IGHG returned 8.57%/yr vs 4.94%/yr for FEIG. At a 0.15 correlation, their price movements are largely independent. IGHG charges 0.30%/yr vs 0.12%/yr for FEIG.
Performance
IGHG vs. FEIG - Performance Comparison
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Returns By Period
In the year-to-date period, IGHG achieves a 2.17% return, which is significantly higher than FEIG's 0.48% return.
IGHG
- 1D
- 0.05%
- 1M
- 0.76%
- YTD
- 2.17%
- 6M
- 2.54%
- 1Y
- 5.77%
- 3Y*
- 8.57%
- 5Y*
- 5.24%
- 10Y*
- 4.72%
FEIG
- 1D
- -0.22%
- 1M
- 0.74%
- YTD
- 0.48%
- 6M
- 0.30%
- 1Y
- 5.75%
- 3Y*
- 4.94%
- 5Y*
- —
- 10Y*
- —
IGHG vs. FEIG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IGHG ProShares Investment Grade-Interest Rate Hedged | 2.17% | 5.65% | 9.20% | 11.58% | -0.90% | -0.64% |
FEIG FlexShares ESG & Climate Investment Grade Corporate Core Index Fund | 0.48% | 7.31% | 1.75% | 8.57% | -15.91% | -1.46% |
Correlation
The correlation between IGHG and FEIG is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2021 | 0.15 |
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Return for Risk
IGHG vs. FEIG — Risk / Return Rank
IGHG
FEIG
IGHG vs. FEIG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Investment Grade-Interest Rate Hedged (IGHG) and FlexShares ESG & Climate Investment Grade Corporate Core Index Fund (FEIG). 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.
| IGHG | FEIG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.37 | ||
| Sortino ratioReturn per unit of downside risk | +0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.23 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.31 | 2.05 | +1.26 |
| Martin ratioReturn relative to average drawdown | 11.71 | 6.26 | +5.45 |
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
| IGHG | FEIG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.68 | 1.31 | +0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.05 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.63 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | -0.04 | +0.57 |
Drawdowns
IGHG vs. FEIG - Drawdown Comparison
The maximum IGHG drawdown since its inception was -25.16%, which is greater than FEIG's maximum drawdown of -22.26%. Use the drawdown chart below to compare losses from any high point for IGHG and FEIG.
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Drawdown Indicators
| IGHG | FEIG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.16% | -22.26% | -2.90% |
Max Drawdown (1Y)Largest decline over 1 year | -1.75% | -2.81% | +1.06% |
Max Drawdown (3Y)Largest decline over 3 years | -3.74% | -6.67% | +2.93% |
Max Drawdown (5Y)Largest decline over 5 years | -8.75% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -25.16% | — | — |
Current DrawdownCurrent decline from peak | -0.11% | -1.56% | +1.45% |
Average DrawdownAverage peak-to-trough decline | -2.30% | -9.52% | +7.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.50% | 0.92% | -0.42% |
Volatility
IGHG vs. FEIG - Volatility Comparison
The current volatility for ProShares Investment Grade-Interest Rate Hedged (IGHG) is 0.62%, while FlexShares ESG & Climate Investment Grade Corporate Core Index Fund (FEIG) has a volatility of 1.48%. This indicates that IGHG experiences smaller price fluctuations and is considered to be less risky than FEIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGHG | FEIG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.62% | 1.48% | -0.86% |
Volatility (6M)Calculated over the trailing 6-month period | 2.53% | 3.24% | -0.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.44% | 4.40% | -0.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.02% | 7.40% | -2.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.46% | 7.40% | +0.06% |
IGHG vs. FEIG - Expense Ratio Comparison
IGHG has a 0.30% expense ratio, which is higher than FEIG's 0.12% expense ratio.
Dividends
IGHG vs. FEIG - Dividend Comparison
IGHG's dividend yield for the trailing twelve months is around 5.11%, more than FEIG's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FEIG FlexShares ESG & Climate Investment Grade Corporate Core Index Fund | 4.75% | 4.84% | 4.65% | 4.21% | 2.99% | 0.55% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IGHG ProShares Investment Grade-Interest Rate Hedged | 5.11% | 5.14% | 5.06% | 4.99% | 3.55% | 2.50% | 2.79% | 3.48% | 4.13% | 3.36% | 3.37% | 3.65% |
Frequently Asked Questions
IGHG and FEIG have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FEIG has higher volatility (1.48%) compared to IGHG (0.62%). In terms of maximum drawdown, IGHG dropped -25.16% vs FEIG's -22.26%.
On 3-year performance, IGHG leads with 8.57% vs 4.94% for FEIG. On fees, FEIG is cheaper at 0.12% per year. On volatility, IGHG has been the lower-risk option at 0.62%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IGHG has performed better with a 8.57% return vs 4.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FEIG is cheaper with a 0.12% expense ratio, compared with 0.30% for IGHG.
IGHG has the higher dividend yield at 5.11%, compared with 4.75% for FEIG.
IGHG tracks Citi Corporate Investment Grade (Treasury Rate-Hedged) Index, while FEIG tracks Northern Trust ESG & Climate Investment Grade U.S. Corporate Core TR. They also come from different issuers: ProShares and FlexShares. Their fees differ too: 0.30% for IGHG and 0.12% for FEIG.
IGHG currently has the higher Sharpe Ratio (1.68 vs 1.31), 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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