LKOR vs. USIG
LKOR (FlexShares Credit-Scored U.S. Long Corporate Bond Index Fund) and USIG (iShares Broad USD Investment Grade Corporate Bond ETF) are both Corporate Bonds funds - LKOR tracks the Northern Trust US Long Corporate Bond Quality Value Index while USIG tracks the ICE BofA US Corporate. Both are passively managed. Over the past 10 years, LKOR returned 2.45%/yr vs 2.63%/yr for USIG. Their correlation of 0.84 suggests significant overlap in exposure. LKOR charges 0.22%/yr vs 0.04%/yr for USIG.
Performance
LKOR vs. USIG - Performance Comparison
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Returns By Period
In the year-to-date period, LKOR achieves a 0.74% return, which is significantly higher than USIG's 0.56% return. Over the past 10 years, LKOR has underperformed USIG with an annualized return of 2.45%, while USIG has yielded a comparatively higher 2.63% annualized return.
LKOR
- 1D
- -0.36%
- 1M
- 1.51%
- YTD
- 0.74%
- 6M
- -0.19%
- 1Y
- 7.57%
- 3Y*
- 4.72%
- 5Y*
- -1.59%
- 10Y*
- 2.45%
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%
LKOR vs. USIG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LKOR FlexShares Credit-Scored U.S. Long Corporate Bond Index Fund | 0.74% | 7.04% | -1.02% | 11.64% | -25.55% | -1.51% | 16.00% | 23.97% | -7.61% | 13.87% |
USIG iShares Broad USD Investment Grade Corporate Bond ETF | 0.56% | 7.86% | 2.56% | 8.71% | -15.30% | -1.34% | 9.44% | 13.99% | -2.21% | 5.75% |
Correlation
The correlation between LKOR and USIG is 0.96 - 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 (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 2015 | 0.84 |
The correlation between LKOR and USIG shifts across timeframes, from 0.84 (all time) to 0.97 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
LKOR vs. USIG — Risk / Return Rank
LKOR
USIG
LKOR vs. USIG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Credit-Scored U.S. Long Corporate Bond Index Fund (LKOR) 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.
| LKOR | USIG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.26 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.41 | 2.17 | -0.76 |
| Martin ratioReturn relative to average drawdown | 3.43 | 7.07 | -3.64 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| LKOR | USIG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.95 | 1.47 | -0.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.12 | 0.11 | -0.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | 0.39 | -0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.54 | -0.29 |
Drawdowns
LKOR vs. USIG - Drawdown Comparison
The maximum LKOR drawdown since its inception was -34.78%, which is greater than USIG's maximum drawdown of -22.21%. Use the drawdown chart below to compare losses from any high point for LKOR and USIG.
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Drawdown Indicators
| LKOR | USIG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.78% | -22.21% | -12.57% |
Max Drawdown (1Y)Largest decline over 1 year | -5.39% | -2.79% | -2.60% |
Max Drawdown (3Y)Largest decline over 3 years | -12.74% | -6.10% | -6.64% |
Max Drawdown (5Y)Largest decline over 5 years | -34.78% | -21.45% | -13.33% |
Max Drawdown (10Y)Largest decline over 10 years | -34.78% | -21.45% | -13.33% |
Current DrawdownCurrent decline from peak | -13.63% | -0.97% | -12.66% |
Average DrawdownAverage peak-to-trough decline | -10.36% | -3.42% | -6.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 0.86% | +1.35% |
Volatility
LKOR vs. USIG - Volatility Comparison
FlexShares Credit-Scored U.S. Long Corporate Bond Index Fund (LKOR) has a higher volatility of 2.41% compared to iShares Broad USD Investment Grade Corporate Bond ETF (USIG) at 1.27%. This indicates that LKOR's price experiences larger fluctuations and is considered to be riskier than USIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LKOR | USIG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.41% | 1.27% | +1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 5.76% | 3.04% | +2.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.00% | 4.13% | +3.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.90% | 6.82% | +6.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.22% | 6.82% | +6.40% |
LKOR vs. USIG - Expense Ratio Comparison
LKOR has a 0.22% 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
LKOR vs. USIG - Dividend Comparison
LKOR's dividend yield for the trailing twelve months is around 5.72%, more than USIG's 4.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LKOR FlexShares Credit-Scored U.S. Long Corporate Bond Index Fund | 5.72% | 5.57% | 5.52% | 4.90% | 4.71% | 4.73% | 6.56% | 3.71% | 4.21% | 3.77% | 5.53% | 1.22% |
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
With a correlation of 0.96, LKOR 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.
LKOR has higher volatility (2.41%) compared to USIG (1.27%). In terms of maximum drawdown, LKOR dropped -34.78% vs USIG's -22.21%.
On 10-year performance, USIG leads with 2.63% vs 2.45% for LKOR. On fees, USIG is cheaper at 0.04% per year. On volatility, USIG has been the lower-risk option at 1.27%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, USIG has performed better with a 2.63% return vs 2.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USIG is cheaper with a 0.04% expense ratio, compared with 0.22% for LKOR.
LKOR has the higher dividend yield at 5.72%, compared with 4.74% for USIG.
LKOR tracks Northern Trust US Long Corporate Bond Quality Value Index, while USIG tracks ICE BofA US Corporate. They also come from different issuers: Northern Trust and iShares. Their fees differ too: 0.22% for LKOR and 0.04% for USIG.
USIG currently has the higher Sharpe Ratio (1.47 vs 0.95), 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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