INVG vs. USIG

Last updated Jun 4, 2026

INVG (GMO Systematic Investment Grade Credit ETF) and USIG (iShares Broad USD Investment Grade Corporate Bond ETF) are both Corporate Bonds funds. INVG is actively managed, while USIG is passively managed. With a 0.98 correlation, they move nearly in lockstep. INVG charges 0.25%/yr vs 0.04%/yr for USIG.

Performance

INVG vs. USIG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GMO Systematic Investment Grade Credit ETF (INVG) and iShares Broad USD Investment Grade Corporate Bond ETF (USIG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, INVG achieves a 0.68% return, which is significantly higher than USIG's 0.56% return.

INVG

• 1D: -0.23%
• 1M: 0.73%
• YTD: 0.68%
• 6M: 0.36%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

USIG

• 1D: -0.23%
• 1M: 0.56%
• YTD: 0.56%
• 6M: 0.37%
• 1Y: 6.04%
• 3Y*: 5.46%
• 5Y*: 0.72%
• 10Y*: 2.63%

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

INVG vs. USIG - Yearly Performance Comparison

	2026 (YTD)	2025
INVG GMO Systematic Investment Grade Credit ETF	0.68%	4.69%
USIG iShares Broad USD Investment Grade Corporate Bond ETF	0.56%	4.81%

Correlation

The correlation between INVG and USIG is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	0.98

Return for Risk

INVG vs. USIG — Risk / Return Rank

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

USIG

USIG Risk / Return Rank: 42
USIG Sharpe Ratio Rank: 41
USIG Sortino Ratio Rank: 42
USIG Omega Ratio Rank: 39
USIG Calmar Ratio Rank: 44
USIG Martin Ratio Rank: 43

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.

INVG vs. USIG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO Systematic Investment Grade Credit ETF (INVG) and iShares Broad USD Investment Grade Corporate Bond ETF (USIG). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	INVG	USIG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.47	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.11	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.39	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.23	0.54	+0.70

Drawdowns

INVG vs. USIG - Drawdown Comparison

The maximum INVG drawdown since its inception was -3.15%, smaller than the maximum USIG drawdown of -22.21%. Use the drawdown chart below to compare losses from any high point for INVG and USIG.

Drawdown Indicators

	INVG	USIG	Difference
Max Drawdown Largest peak-to-trough decline	-3.15%	-22.21%	+19.06%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.79%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-6.10%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.45%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-21.45%	—
Current Drawdown Current decline from peak	-0.88%	-0.97%	+0.09%
Average Drawdown Average peak-to-trough decline	-0.71%	-3.42%	+2.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.86%	—

Volatility

Volatility by Period

	INVG	USIG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.27%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.04%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.42%	4.13%	+0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.42%	6.82%	-2.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.42%	6.82%	-2.40%

INVG vs. USIG - Expense Ratio Comparison

INVG has a 0.25% expense ratio, which is higher than USIG's 0.04% 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. USIG - Dividend Comparison

INVG's dividend yield for the trailing twelve months is around 4.68%, less than USIG's 4.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
INVG GMO Systematic Investment Grade Credit ETF	4.68%	2.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USIG iShares Broad USD Investment Grade Corporate Bond ETF	4.74%	4.62%	4.51%	3.94%	3.14%	2.33%	2.82%	3.37%	3.44%	3.03%	2.87%	3.24%

Frequently Asked Questions

Can I hold both INVG and USIG in my portfolio?

With a correlation of 0.98, INVG and USIG 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 ETF is better, INVG or USIG?

On fees, USIG is cheaper at 0.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, INVG or USIG?

USIG is cheaper with a 0.04% expense ratio, compared with 0.25% for INVG.

Which ETF pays a higher dividend yield, INVG or USIG?

USIG has the higher dividend yield at 4.74%, compared with 4.68% for INVG.

What is the main difference between INVG and USIG?

They also come from different issuers: GMO and iShares. Their fees differ too: 0.25% for INVG and 0.04% for USIG.