IUSG vs. MFUS

Last updated Jun 4, 2026

IUSG (iShares Core S&P U.S. Growth ETF) and MFUS (PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF) are both Large Cap Growth Equities funds - IUSG tracks the Russell 3000 Growth Index while MFUS tracks the RAFI Dynamic Multi-Factor U.S. Index​. Both are passively managed. Over the past 5 years, IUSG returned 15.69%/yr vs 12.82%/yr for MFUS. A 0.78 correlation means they provide meaningful diversification when combined. IUSG charges 0.04%/yr vs 0.30%/yr for MFUS.

Performance

IUSG vs. MFUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core S&P U.S. Growth ETF (IUSG) and PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IUSG achieves a 14.08% return, which is significantly lower than MFUS's 16.37% return.

IUSG

• 1D: -0.89%
• 1M: 7.35%
• YTD: 14.08%
• 6M: 13.91%
• 1Y: 33.89%
• 3Y*: 27.59%
• 5Y*: 15.69%
• 10Y*: 17.88%

MFUS

• 1D: 0.03%
• 1M: 5.72%
• YTD: 16.37%
• 6M: 16.58%
• 1Y: 28.04%
• 3Y*: 22.25%
• 5Y*: 12.82%
• 10Y*: —

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

IUSG vs. MFUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IUSG iShares Core S&P U.S. Growth ETF	14.08%	21.23%	34.70%	29.28%	-28.81%	31.26%	32.65%	30.62%	-0.79%	8.54%
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF	16.37%	16.02%	20.17%	12.19%	-5.82%	24.10%	10.64%	26.17%	-7.30%	11.20%

Correlation

The correlation between IUSG and MFUS is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (All Time) Calculated using the full available price history since Sep 7, 2017	0.78

The correlation between IUSG and MFUS shifts across timeframes, from 0.65 (1 year) to 0.78 (all time), reflecting how their relationship changes across market environments.

IUSG vs. MFUS - Sectors Allocation Comparison

Sectors	IUSG	MFUS
Technology	48.0%	21.8%
Communication Services	17.1%	5.3%
Consumer Cyclical	9.3%	10.6%
Financial Services	8.8%	12.6%
Industrials	7.5%	12.6%
Healthcare	6.2%	13.5%
Consumer Defensive	1.0%	10.3%
Real Estate	0.9%	1.8%
Basic Materials	0.5%	2.8%
Utilities	0.5%	1.7%
Energy	0.2%	7.0%

Return for Risk

IUSG vs. MFUS — Risk / Return Rank

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

IUSG

IUSG Risk / Return Rank: 59
IUSG Sharpe Ratio Rank: 64
IUSG Sortino Ratio Rank: 61
IUSG Omega Ratio Rank: 60
IUSG Calmar Ratio Rank: 52
IUSG Martin Ratio Rank: 61

MFUS

MFUS Risk / Return Rank: 82
MFUS Sharpe Ratio Rank: 80
MFUS Sortino Ratio Rank: 83
MFUS Omega Ratio Rank: 78
MFUS Calmar Ratio Rank: 83
MFUS Martin Ratio Rank: 86

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.

IUSG vs. MFUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P U.S. Growth ETF (IUSG) and PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS). 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.

	IUSG	MFUS	Difference
Sharpe ratio: Return per unit of total volatility	2.17	2.63	-0.46
Sortino ratio: Return per unit of downside risk	2.93	3.77	-0.85
Omega ratio: Gain probability vs. loss probability	1.37	1.47	-0.10
Calmar ratio: Return relative to maximum drawdown	2.61	4.41	-1.80
Martin ratio: Return relative to average drawdown	11.09	18.13	-7.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IUSG vs. MFUS - Sharpe Ratio Comparison

The current IUSG Sharpe Ratio is 2.17, which is comparable to the MFUS Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of IUSG and MFUS, 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

	IUSG	MFUS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.17	2.63	-0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.86	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.79	-0.41

Drawdowns

IUSG vs. MFUS - Drawdown Comparison

The maximum IUSG drawdown since its inception was -63.41%, which is greater than MFUS's maximum drawdown of -35.21%. Use the drawdown chart below to compare losses from any high point for IUSG and MFUS.

Drawdown Indicators

	IUSG	MFUS	Difference
Max Drawdown Largest peak-to-trough decline	-63.41%	-35.21%	-28.20%
Max Drawdown (1Y) Largest decline over 1 year	-13.07%	-6.39%	-6.68%
Max Drawdown (3Y) Largest decline over 3 years	-22.28%	-15.39%	-6.89%
Max Drawdown (5Y) Largest decline over 5 years	-32.21%	-18.22%	-13.99%
Max Drawdown (10Y) Largest decline over 10 years	-32.35%	—	—
Current Drawdown Current decline from peak	-0.98%	0.00%	-0.98%
Average Drawdown Average peak-to-trough decline	-21.44%	-4.00%	-17.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.06%	1.55%	+1.51%

Volatility

IUSG vs. MFUS - Volatility Comparison

iShares Core S&P U.S. Growth ETF (IUSG) has a higher volatility of 4.23% compared to PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) at 3.19%. This indicates that IUSG's price experiences larger fluctuations and is considered to be riskier than MFUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IUSG	MFUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.23%	3.19%	+1.04%
Volatility (6M) Calculated over the trailing 6-month period	12.23%	8.22%	+4.01%
Volatility (1Y) Calculated over the trailing 1-year period	15.72%	10.72%	+5.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.87%	15.03%	+5.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.40%	17.35%	+3.05%

IUSG vs. MFUS - Expense Ratio Comparison

IUSG has a 0.04% expense ratio, which is lower than MFUS's 0.30% expense ratio.

Dividends

IUSG vs. MFUS - Dividend Comparison

IUSG's dividend yield for the trailing twelve months is around 0.47%, less than MFUS's 1.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IUSG iShares Core S&P U.S. Growth ETF	0.47%	0.53%	0.59%	1.12%	1.07%	0.59%	0.93%	1.64%	1.32%	1.28%	1.48%	1.29%
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF	1.36%	1.54%	1.45%	1.96%	2.07%	1.35%	1.72%	1.89%	1.69%	1.01%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IUSG and MFUS in my portfolio?

IUSG and MFUS have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IUSG or MFUS?

IUSG has higher volatility (4.23%) compared to MFUS (3.19%). In terms of maximum drawdown, IUSG dropped -63.41% vs MFUS's -35.21%.

Which ETF is better, IUSG or MFUS?

On 5-year performance, IUSG leads with 15.69% vs 12.82% for MFUS. On fees, IUSG is cheaper at 0.04% per year. On volatility, MFUS has been the lower-risk option at 3.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IUSG or MFUS?

Over the 5-year period, IUSG has performed better with a 15.69% return vs 12.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IUSG or MFUS?

IUSG is cheaper with a 0.04% expense ratio, compared with 0.30% for MFUS.

Which ETF pays a higher dividend yield, IUSG or MFUS?

MFUS has the higher dividend yield at 1.36%, compared with 0.47% for IUSG.

What is the main difference between IUSG and MFUS?

IUSG tracks Russell 3000 Growth Index, while MFUS tracks RAFI Dynamic Multi-Factor U.S. Index​. They also come from different issuers: iShares and PIMCO. Their fees differ too: 0.04% for IUSG and 0.30% for MFUS.

Which has better risk-adjusted returns?

MFUS currently has the higher Sharpe Ratio (2.63 vs 2.17), 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.