IGIB vs. MILK

Last updated Jun 4, 2026

IGIB (iShares Intermediate-Term Corporate Bond ETF) and MILK (Pacer US Cash Cows Bond ETF) are both Corporate Bonds funds - IGIB tracks the Bloomberg Barclays U.S. Intermediate Credit Index while MILK tracks the Solactive Pacer US Cash Cows Bond Index. Both are passively managed. Over the past year, IGIB returned 6.27% vs 9.23% for MILK. Their correlation of 0.91 suggests significant overlap in exposure. IGIB charges 0.06%/yr vs 0.49%/yr for MILK.

Performance

IGIB vs. MILK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Intermediate-Term Corporate Bond ETF (IGIB) 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, IGIB achieves a 0.21% return, which is significantly lower than MILK's 2.18% return.

IGIB

• 1D: -0.19%
• 1M: 0.31%
• YTD: 0.21%
• 6M: 0.14%
• 1Y: 6.27%
• 3Y*: 6.21%
• 5Y*: 1.37%
• 10Y*: 3.04%

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)

IGIB vs. MILK - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IGIB iShares Intermediate-Term Corporate Bond ETF	0.21%	9.58%	0.08%
MILK Pacer US Cash Cows Bond ETF	2.18%	7.49%	-0.35%

Correlation

The correlation between IGIB and MILK is 0.92, 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	0.92
Correlation (All Time) Calculated using the full available price history since Dec 19, 2024	0.91

The correlation between IGIB and MILK has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.

Return for Risk

IGIB vs. MILK — Risk / Return Rank

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

IGIB

IGIB Risk / Return Rank: 42
IGIB Sharpe Ratio Rank: 42
IGIB Sortino Ratio Rank: 44
IGIB Omega Ratio Rank: 41
IGIB Calmar Ratio Rank: 42
IGIB Martin Ratio Rank: 43

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.

IGIB vs. MILK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Intermediate-Term Corporate Bond ETF (IGIB) 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.

	IGIB	MILK	Difference
Sharpe ratio: Return per unit of total volatility	1.52	1.78	-0.26
Sortino ratio: Return per unit of downside risk	2.26	2.59	-0.33
Omega ratio: Gain probability vs. loss probability	1.27	1.32	-0.05
Calmar ratio: Return relative to maximum drawdown	2.09	2.47	-0.38
Martin ratio: Return relative to average drawdown	7.08	8.90	-1.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IGIB vs. MILK - Sharpe Ratio Comparison

The current IGIB Sharpe Ratio is 1.52, which is comparable to the MILK Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of IGIB 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.

Sharpe Ratios by Period

	IGIB	MILK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.52	1.78	-0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.97	-0.27

Drawdowns

IGIB vs. MILK - Drawdown Comparison

The maximum IGIB drawdown since its inception was -20.62%, which is greater than MILK's maximum drawdown of -6.16%. Use the drawdown chart below to compare losses from any high point for IGIB and MILK.

Drawdown Indicators

	IGIB	MILK	Difference
Max Drawdown Largest peak-to-trough decline	-20.62%	-6.16%	-14.46%
Max Drawdown (1Y) Largest decline over 1 year	-3.01%	-3.75%	+0.74%
Max Drawdown (3Y) Largest decline over 3 years	-6.05%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.62%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-20.62%	—	—
Current Drawdown Current decline from peak	-1.33%	-0.24%	-1.09%
Average Drawdown Average peak-to-trough decline	-2.58%	-1.09%	-1.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	1.04%	-0.15%

Volatility

IGIB vs. MILK - Volatility Comparison

The current volatility for iShares Intermediate-Term Corporate Bond ETF (IGIB) is 1.33%, while Pacer US Cash Cows Bond ETF (MILK) has a volatility of 1.58%. This indicates that IGIB experiences smaller price fluctuations and is considered to be less risky than MILK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IGIB	MILK	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.33%	1.58%	-0.25%
Volatility (6M) Calculated over the trailing 6-month period	3.08%	3.78%	-0.70%
Volatility (1Y) Calculated over the trailing 1-year period	4.14%	5.21%	-1.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.56%	6.69%	-0.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.06%	6.69%	-0.63%

IGIB vs. MILK - Expense Ratio Comparison

IGIB has a 0.06% expense ratio, which is lower than MILK's 0.49% expense ratio.

Dividends

IGIB vs. MILK - Dividend Comparison

IGIB's dividend yield for the trailing twelve months is around 4.82%, less than MILK's 7.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IGIB iShares Intermediate-Term Corporate Bond ETF	4.82%	4.59%	4.41%	3.78%	3.04%	2.52%	2.74%	3.44%	3.41%	2.51%	2.45%	2.51%
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 IGIB and MILK in my portfolio?

With a correlation of 0.92, IGIB and MILK 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, IGIB or MILK?

MILK has higher volatility (1.58%) compared to IGIB (1.33%). In terms of maximum drawdown, IGIB dropped -20.62% vs MILK's -6.16%.

Which ETF is better, IGIB or MILK?

On 1-year performance, MILK leads with 9.23% vs 6.27% for IGIB. On fees, IGIB is cheaper at 0.06% per year. On volatility, IGIB has been the lower-risk option at 1.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IGIB or MILK?

Over the 1-year period, MILK has performed better with a 9.23% return vs 6.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IGIB or MILK?

IGIB is cheaper with a 0.06% expense ratio, compared with 0.49% for MILK.

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

MILK has the higher dividend yield at 7.04%, compared with 4.82% for IGIB.

What is the main difference between IGIB and MILK?

IGIB tracks Bloomberg Barclays U.S. Intermediate Credit Index, while MILK tracks Solactive Pacer US Cash Cows Bond Index. They also come from different issuers: iShares and Pacer. Their fees differ too: 0.06% for IGIB and 0.49% for MILK.

Which has better risk-adjusted returns?

MILK currently has the higher Sharpe Ratio (1.78 vs 1.52), 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.