IIGD vs. GSIG

Last updated Jun 4, 2026

IIGD (Invesco Investment Grade Defensive ETF) and GSIG (Goldman Sachs Access Investment Grade Corporate 1-5 Year Bond ETF) are both Corporate Bonds funds - IIGD tracks the Invesco Investment Grade Defensive Index while GSIG tracks the FTSE Goldman Sachs US Investment-Grade Corporate Bond 1-5 Years Index. Both are passively managed. Over the past 5 years, IIGD returned 1.63%/yr vs 2.18%/yr for GSIG. Their correlation of 0.92 suggests significant overlap in exposure. IIGD charges 0.13%/yr vs 0.14%/yr for GSIG.

Performance

IIGD vs. GSIG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Investment Grade Defensive ETF (IIGD) and Goldman Sachs Access Investment Grade Corporate 1-5 Year Bond ETF (GSIG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IIGD achieves a 0.25% return, which is significantly lower than GSIG's 0.68% return.

IIGD

• 1D: -0.10%
• 1M: 0.05%
• YTD: 0.25%
• 6M: 0.49%
• 1Y: 4.13%
• 3Y*: 5.07%
• 5Y*: 1.63%
• 10Y*: —

GSIG

• 1D: 0.01%
• 1M: 0.25%
• YTD: 0.68%
• 6M: 1.01%
• 1Y: 4.54%
• 3Y*: 5.39%
• 5Y*: 2.18%
• 10Y*: —

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

IIGD vs. GSIG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
IIGD Invesco Investment Grade Defensive ETF	0.25%	7.11%	3.90%	5.71%	-7.27%	-1.42%	0.96%
GSIG Goldman Sachs Access Investment Grade Corporate 1-5 Year Bond ETF	0.68%	6.69%	4.72%	6.06%	-5.80%	-0.81%	1.59%

Correlation

The correlation between IIGD and GSIG is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jul 10, 2020	0.92

The correlation between IIGD and GSIG has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

Return for Risk

IIGD vs. GSIG — Risk / Return Rank

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

IIGD

IIGD Risk / Return Rank: 54
IIGD Sharpe Ratio Rank: 53
IIGD Sortino Ratio Rank: 58
IIGD Omega Ratio Rank: 55
IIGD Calmar Ratio Rank: 50
IIGD Martin Ratio Rank: 51

GSIG

GSIG Risk / Return Rank: 75
GSIG Sharpe Ratio Rank: 76
GSIG Sortino Ratio Rank: 84
GSIG Omega Ratio Rank: 83
GSIG Calmar Ratio Rank: 63
GSIG Martin Ratio Rank: 69

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.

IIGD vs. GSIG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Investment Grade Defensive ETF (IIGD) and Goldman Sachs Access Investment Grade Corporate 1-5 Year Bond ETF (GSIG). 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.

	IIGD	GSIG	Difference
Sharpe ratio Return per unit of total volatility	1.81	2.48	-0.67
Sortino ratio Return per unit of downside risk	2.75	3.83	-1.08
Omega ratio Gain probability vs. loss probability	1.34	1.50	-0.16
Calmar ratio Return relative to maximum drawdown	2.49	3.13	-0.64
Martin ratio Return relative to average drawdown	8.72	12.77	-4.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IIGD vs. GSIG - Sharpe Ratio Comparison

The current IIGD Sharpe Ratio is 1.81, which is comparable to the GSIG Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of IIGD and GSIG, 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

	IIGD	GSIG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.81	2.48	-0.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.76	-0.31
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	0.79	-0.02

Drawdowns

IIGD vs. GSIG - Drawdown Comparison

The maximum IIGD drawdown since its inception was -11.43%, which is greater than GSIG's maximum drawdown of -9.57%. Use the drawdown chart below to compare losses from any high point for IIGD and GSIG.

Drawdown Indicators

	IIGD	GSIG	Difference
Max Drawdown Largest peak-to-trough decline	-11.43%	-9.57%	-1.86%
Max Drawdown (1Y) Largest decline over 1 year	-1.67%	-1.46%	-0.21%
Max Drawdown (3Y) Largest decline over 3 years	-2.14%	-1.46%	-0.68%
Max Drawdown (5Y) Largest decline over 5 years	-11.43%	-9.57%	-1.86%
Current Drawdown Current decline from peak	-0.80%	-0.31%	-0.49%
Average Drawdown Average peak-to-trough decline	-2.42%	-2.10%	-0.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.47%	0.36%	+0.11%

Volatility

IIGD vs. GSIG - Volatility Comparison

Invesco Investment Grade Defensive ETF (IIGD) has a higher volatility of 0.75% compared to Goldman Sachs Access Investment Grade Corporate 1-5 Year Bond ETF (GSIG) at 0.57%. This indicates that IIGD's price experiences larger fluctuations and is considered to be riskier than GSIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IIGD	GSIG	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.75%	0.57%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	1.65%	1.35%	+0.30%
Volatility (1Y) Calculated over the trailing 1-year period	2.29%	1.84%	+0.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.66%	2.89%	+0.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.70%	2.71%	+0.99%

IIGD vs. GSIG - Expense Ratio Comparison

IIGD has a 0.13% expense ratio, which is lower than GSIG's 0.14% 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

IIGD vs. GSIG - Dividend Comparison

IIGD's dividend yield for the trailing twelve months is around 4.28%, less than GSIG's 4.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
GSIG Goldman Sachs Access Investment Grade Corporate 1-5 Year Bond ETF	4.34%	4.61%	4.59%	3.51%	2.21%	1.04%	0.45%	0.00%	0.00%
IIGD Invesco Investment Grade Defensive ETF	4.28%	4.25%	4.13%	3.74%	1.73%	1.77%	3.21%	2.44%	1.23%

Frequently Asked Questions

Can I hold both IIGD and GSIG in my portfolio?

With a correlation of 0.93, IIGD and GSIG 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, IIGD or GSIG?

IIGD has higher volatility (0.75%) compared to GSIG (0.57%). In terms of maximum drawdown, IIGD dropped -11.43% vs GSIG's -9.57%.

Which ETF is better, IIGD or GSIG?

On 5-year performance, GSIG leads with 2.18% vs 1.63% for IIGD. On fees, IIGD is cheaper at 0.13% per year. On volatility, GSIG has been the lower-risk option at 0.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IIGD or GSIG?

Over the 5-year period, GSIG has performed better with a 2.18% return vs 1.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IIGD or GSIG?

IIGD is cheaper with a 0.13% expense ratio, compared with 0.14% for GSIG.

Which ETF pays a higher dividend yield, IIGD or GSIG?

GSIG has the higher dividend yield at 4.34%, compared with 4.28% for IIGD.

What is the main difference between IIGD and GSIG?

IIGD tracks Invesco Investment Grade Defensive Index, while GSIG tracks FTSE Goldman Sachs US Investment-Grade Corporate Bond 1-5 Years Index. They also come from different issuers: Invesco and Goldman Sachs. Their fees differ too: 0.13% for IIGD and 0.14% for GSIG.

Which has better risk-adjusted returns?

GSIG currently has the higher Sharpe Ratio (2.48 vs 1.81), 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.