ISDB vs. MSTI

Last updated Jun 3, 2026

ISDB (Invesco Short Duration Bond ETF) and MSTI (Madison Short-Term Strategic Income ETF) are both Short-Term Bond funds. Both are actively managed. Over the past year, ISDB returned 5.16% vs 4.48% for MSTI. A 0.68 correlation means they provide meaningful diversification when combined. ISDB charges 0.36%/yr vs 0.40%/yr for MSTI.

Performance

ISDB vs. MSTI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Short Duration Bond ETF (ISDB) and Madison Short-Term Strategic Income ETF (MSTI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ISDB achieves a 1.12% return, which is significantly higher than MSTI's 0.75% return.

ISDB

• 1D: 0.04%
• 1M: 0.30%
• YTD: 1.12%
• 6M: 1.61%
• 1Y: 5.16%
• 3Y*: 5.63%
• 5Y*: —
• 10Y*: —

MSTI

• 1D: 0.05%
• 1M: -0.20%
• YTD: 0.75%
• 6M: 1.14%
• 1Y: 4.48%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ISDB vs. MSTI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ISDB Invesco Short Duration Bond ETF	1.12%	6.23%	5.35%	3.45%
MSTI Madison Short-Term Strategic Income ETF	0.75%	6.33%	4.84%	4.14%

Correlation

The correlation between ISDB and MSTI is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (All Time) Calculated using the full available price history since Sep 7, 2023	0.68

The correlation between ISDB and MSTI has been stable across timeframes, ranging from 0.59 to 0.68 - a consistent structural relationship.

Return for Risk

ISDB vs. MSTI — Risk / Return Rank

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

ISDB

ISDB Risk / Return Rank: 92
ISDB Sharpe Ratio Rank: 94
ISDB Sortino Ratio Rank: 96
ISDB Omega Ratio Rank: 97
ISDB Calmar Ratio Rank: 84
ISDB Martin Ratio Rank: 90

MSTI

MSTI Risk / Return Rank: 61
MSTI Sharpe Ratio Rank: 53
MSTI Sortino Ratio Rank: 57
MSTI Omega Ratio Rank: 60
MSTI Calmar Ratio Rank: 65
MSTI Martin Ratio Rank: 71

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.

ISDB vs. MSTI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Short Duration Bond ETF (ISDB) and Madison Short-Term Strategic Income ETF (MSTI). 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.

	ISDB	MSTI	Difference
Sharpe ratio Return per unit of total volatility	3.73	1.84	+1.90
Sortino ratio Return per unit of downside risk	5.88	2.75	+3.12
Omega ratio Gain probability vs. loss probability	1.88	1.37	+0.51
Calmar ratio Return relative to maximum drawdown	4.59	3.26	+1.33
Martin ratio Return relative to average drawdown	21.23	13.51	+7.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ISDB vs. MSTI - Sharpe Ratio Comparison

The current ISDB Sharpe Ratio is 3.73, which is higher than the MSTI Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of ISDB and MSTI, 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

	ISDB	MSTI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.73	1.84	+1.90
Sharpe Ratio (All Time) Calculated using the full available price history	2.79	2.19	+0.61

Drawdowns

ISDB vs. MSTI - Drawdown Comparison

The maximum ISDB drawdown since its inception was -1.83%, which is greater than MSTI's maximum drawdown of -1.48%. Use the drawdown chart below to compare losses from any high point for ISDB and MSTI.

Drawdown Indicators

	ISDB	MSTI	Difference
Max Drawdown Largest peak-to-trough decline	-1.83%	-1.48%	-0.35%
Max Drawdown (1Y) Largest decline over 1 year	-1.12%	-1.32%	+0.20%
Max Drawdown (3Y) Largest decline over 3 years	-1.12%	—	—
Current Drawdown Current decline from peak	-0.03%	-0.20%	+0.17%
Average Drawdown Average peak-to-trough decline	-0.25%	-0.29%	+0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.24%	0.32%	-0.08%

Volatility

ISDB vs. MSTI - Volatility Comparison

The current volatility for Invesco Short Duration Bond ETF (ISDB) is 0.39%, while Madison Short-Term Strategic Income ETF (MSTI) has a volatility of 0.74%. This indicates that ISDB experiences smaller price fluctuations and is considered to be less risky than MSTI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ISDB	MSTI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.39%	0.74%	-0.35%
Volatility (6M) Calculated over the trailing 6-month period	1.09%	1.61%	-0.52%
Volatility (1Y) Calculated over the trailing 1-year period	1.39%	2.46%	-1.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.85%	2.71%	-0.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.85%	2.71%	-0.86%

ISDB vs. MSTI - Expense Ratio Comparison

ISDB has a 0.36% expense ratio, which is lower than MSTI's 0.40% expense ratio.

Dividends

ISDB vs. MSTI - Dividend Comparison

ISDB's dividend yield for the trailing twelve months is around 4.58%, less than MSTI's 5.33% yield.

Position	TTM	2025	2024	2023
ISDB Invesco Short Duration Bond ETF	4.58%	4.89%	5.50%	5.20%
MSTI Madison Short-Term Strategic Income ETF	5.33%	5.40%	5.48%	1.55%

Frequently Asked Questions

Can I hold both ISDB and MSTI in my portfolio?

ISDB and MSTI have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ISDB or MSTI?

MSTI has higher volatility (0.74%) compared to ISDB (0.39%). In terms of maximum drawdown, ISDB dropped -1.83% vs MSTI's -1.48%.

Which ETF is better, ISDB or MSTI?

On 1-year performance, ISDB leads with 5.16% vs 4.48% for MSTI. On fees, ISDB is cheaper at 0.36% per year. On volatility, ISDB has been the lower-risk option at 0.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ISDB or MSTI?

Over the 1-year period, ISDB has performed better with a 5.16% return vs 4.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ISDB or MSTI?

ISDB is cheaper with a 0.36% expense ratio, compared with 0.40% for MSTI.

Which ETF pays a higher dividend yield, ISDB or MSTI?

MSTI has the higher dividend yield at 5.33%, compared with 4.58% for ISDB.

What is the main difference between ISDB and MSTI?

They also come from different issuers: Invesco and Madison. Their fees differ too: 0.36% for ISDB and 0.40% for MSTI.

Which has better risk-adjusted returns?

ISDB currently has the higher Sharpe Ratio (3.73 vs 1.83), 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.