INVG vs. IGBH
INVG (GMO Systematic Investment Grade Credit ETF) and IGBH (iShares Interest Rate Hedged Long-Term Corporate Bond ETF) are both Corporate Bonds funds. INVG is actively managed, while IGBH is passively managed. Over the past year, INVG returned 5.23% vs 9.02% for IGBH. At a 0.46 correlation, their price movements are largely independent. INVG charges 0.25%/yr vs 0.16%/yr for IGBH.
Performance
INVG vs. IGBH - Performance Comparison
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Returns By Period
In the year-to-date period, INVG achieves a 0.96% return, which is significantly lower than IGBH's 2.40% return.
INVG
- 1D
- 0.16%
- 1M
- 0.87%
- YTD
- 0.96%
- 6M
- 1.01%
- 1Y
- 5.23%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IGBH
- 1D
- -0.08%
- 1M
- 0.29%
- YTD
- 2.40%
- 6M
- 2.53%
- 1Y
- 9.02%
- 3Y*
- 8.57%
- 5Y*
- 5.37%
- 10Y*
- 5.06%
INVG vs. IGBH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
INVG GMO Systematic Investment Grade Credit ETF | 0.96% | 5.03% |
IGBH iShares Interest Rate Hedged Long-Term Corporate Bond ETF | 2.40% | 6.91% |
Correlation
The correlation between INVG and IGBH is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2025 | 0.46 |
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Return for Risk
INVG vs. IGBH — Risk / Return Rank
INVG
IGBH
INVG vs. IGBH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GMO Systematic Investment Grade Credit ETF (INVG) and iShares Interest Rate Hedged Long-Term Corporate Bond ETF (IGBH). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| INVG | IGBH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.07 | ||
| Sortino ratioReturn per unit of downside risk | -1.64 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.44 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | 2.14 | -0.47 |
| Martin ratioReturn relative to average drawdown | 5.31 | 7.85 | -2.54 |
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Drawdowns
INVG vs. IGBH - Drawdown Comparison
The maximum INVG drawdown since its inception was -3.15%, smaller than the maximum IGBH drawdown of -33.67%. Use the drawdown chart below to compare losses from any high point for INVG and IGBH.
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Drawdown Indicators
| INVG | IGBH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.15% | -33.67% | +30.52% |
Max Drawdown (1Y)Largest decline over 1 year | -3.15% | -4.24% | +1.09% |
Max Drawdown (3Y)Largest decline over 3 years | — | -6.93% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -10.48% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.67% | — |
Current DrawdownCurrent decline from peak | -0.61% | -0.28% | -0.33% |
Average DrawdownAverage peak-to-trough decline | -0.71% | -2.65% | +1.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.99% | 1.15% | -0.16% |
Volatility
INVG vs. IGBH - Volatility Comparison
GMO Systematic Investment Grade Credit ETF (INVG) has a higher volatility of 1.26% compared to iShares Interest Rate Hedged Long-Term Corporate Bond ETF (IGBH) at 0.69%. This indicates that INVG's price experiences larger fluctuations and is considered to be riskier than IGBH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| INVG | IGBH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.26% | 0.69% | +0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 3.41% | 3.14% | +0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.45% | 4.03% | +0.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.45% | 6.05% | -1.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.45% | 9.20% | -4.75% |
INVG vs. IGBH - Expense Ratio Comparison
INVG has a 0.25% expense ratio, which is higher than IGBH's 0.16% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
INVG vs. IGBH - Dividend Comparison
INVG's dividend yield for the trailing twelve months is around 4.66%, less than IGBH's 5.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGBH iShares Interest Rate Hedged Long-Term Corporate Bond ETF | 5.66% | 6.23% | 6.88% | 7.32% | 3.84% | 2.71% | 2.39% | 3.40% | 5.56% | 2.87% | 2.62% | 1.12% |
INVG GMO Systematic Investment Grade Credit ETF | 4.66% | 2.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
INVG and IGBH have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
INVG has higher volatility (1.26%) compared to IGBH (0.69%). In terms of maximum drawdown, INVG dropped -3.15% vs IGBH's -33.67%.
On 1-year performance, IGBH leads with 9.02% vs 5.23% for INVG. On fees, IGBH is cheaper at 0.16% per year. On volatility, IGBH has been the lower-risk option at 0.69%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IGBH has performed better with a 9.02% return vs 5.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IGBH is cheaper with a 0.16% expense ratio, compared with 0.25% for INVG.
IGBH has the higher dividend yield at 5.66%, compared with 4.66% for INVG.
They also come from different issuers: GMO and iShares. Their fees differ too: 0.25% for INVG and 0.16% for IGBH.
IGBH currently has the higher Sharpe Ratio (2.25 vs 1.18), 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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