MIG vs. FLRN
MIG (VanEck Moody's Analytics IG Corporate Bond ETF) and FLRN (SPDR Bloomberg Barclays Investment Grade Floating Rate ETF) are both Corporate Bonds funds - MIG tracks the MVIS Moody's Analytics US Investment Grade Corporate Bond Index (TR Gross) (MVCI) while FLRN tracks the Bloomberg US Floating Rate Notes (<5 Y). Both are passively managed. Over the past 5 years, MIG returned 0.97%/yr vs 4.19%/yr for FLRN. At a 0.10 correlation, their price movements are largely independent. MIG charges 0.20%/yr vs 0.15%/yr for FLRN.
Performance
MIG vs. FLRN - Performance Comparison
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Returns By Period
In the year-to-date period, MIG achieves a 0.39% return, which is significantly lower than FLRN's 1.87% return.
MIG
- 1D
- -0.19%
- 1M
- 0.41%
- YTD
- 0.39%
- 6M
- -0.01%
- 1Y
- 5.37%
- 3Y*
- 5.64%
- 5Y*
- 0.97%
- 10Y*
- —
FLRN
- 1D
- 0.03%
- 1M
- 0.45%
- YTD
- 1.87%
- 6M
- 2.19%
- 1Y
- 4.88%
- 3Y*
- 5.67%
- 5Y*
- 4.19%
- 10Y*
- 3.03%
MIG vs. FLRN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
MIG VanEck Moody's Analytics IG Corporate Bond ETF | 0.39% | 7.34% | 3.38% | 8.88% | -14.51% | -0.02% | 1.26% |
FLRN SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | 1.87% | 5.01% | 6.32% | 6.54% | 1.31% | 0.39% | 0.04% |
Correlation
The correlation between MIG and FLRN is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2020 | 0.10 |
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Return for Risk
MIG vs. FLRN — Risk / Return Rank
MIG
FLRN
MIG vs. FLRN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Moody's Analytics IG Corporate Bond ETF (MIG) and SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN). 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.
| MIG | FLRN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.92 | ||
| Sortino ratioReturn per unit of downside risk | -11.35 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 3.44 | -2.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.90 | 21.54 | -19.64 |
| Martin ratioReturn relative to average drawdown | 5.24 | 130.06 | -124.83 |
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
| MIG | FLRN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.27 | 7.18 | -5.92 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | 2.50 | -2.35 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.72 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.14 | 0.50 | -0.36 |
Drawdowns
MIG vs. FLRN - Drawdown Comparison
The maximum MIG drawdown since its inception was -20.98%, which is greater than FLRN's maximum drawdown of -14.64%. Use the drawdown chart below to compare losses from any high point for MIG and FLRN.
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Drawdown Indicators
| MIG | FLRN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.98% | -14.64% | -6.34% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -0.23% | -2.60% |
Max Drawdown (3Y)Largest decline over 3 years | -5.61% | -1.43% | -4.18% |
Max Drawdown (5Y)Largest decline over 5 years | -20.98% | -2.16% | -18.82% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.64% | — |
Current DrawdownCurrent decline from peak | -1.24% | 0.00% | -1.24% |
Average DrawdownAverage peak-to-trough decline | -6.81% | -1.83% | -4.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.03% | 0.04% | +0.99% |
Volatility
MIG vs. FLRN - Volatility Comparison
VanEck Moody's Analytics IG Corporate Bond ETF (MIG) has a higher volatility of 1.47% compared to SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN) at 0.15%. This indicates that MIG's price experiences larger fluctuations and is considered to be riskier than FLRN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MIG | FLRN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.47% | 0.15% | +1.32% |
Volatility (6M)Calculated over the trailing 6-month period | 3.13% | 0.52% | +2.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.26% | 0.68% | +3.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.35% | 1.69% | +4.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.22% | 4.20% | +2.02% |
MIG vs. FLRN - Expense Ratio Comparison
MIG has a 0.20% expense ratio, which is higher than FLRN's 0.15% 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
MIG vs. FLRN - Dividend Comparison
MIG's dividend yield for the trailing twelve months is around 4.78%, more than FLRN's 4.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLRN SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | 4.51% | 4.89% | 5.67% | 5.68% | 1.95% | 0.39% | 1.22% | 2.76% | 2.39% | 1.64% | 1.06% | 0.63% |
MIG VanEck Moody's Analytics IG Corporate Bond ETF | 4.78% | 4.81% | 4.68% | 4.38% | 3.06% | 2.15% | 0.18% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MIG and FLRN have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MIG has higher volatility (1.47%) compared to FLRN (0.15%). In terms of maximum drawdown, MIG dropped -20.98% vs FLRN's -14.64%.
On 5-year performance, FLRN leads with 4.19% vs 0.97% for MIG. On fees, FLRN is cheaper at 0.15% per year. On volatility, FLRN has been the lower-risk option at 0.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FLRN has performed better with a 4.19% return vs 0.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLRN is cheaper with a 0.15% expense ratio, compared with 0.20% for MIG.
MIG has the higher dividend yield at 4.78%, compared with 4.51% for FLRN.
MIG tracks MVIS Moody's Analytics US Investment Grade Corporate Bond Index (TR Gross) (MVCI), while FLRN tracks Bloomberg US Floating Rate Notes (<5 Y). They also come from different issuers: VanEck and State Street. Their fees differ too: 0.20% for MIG and 0.15% for FLRN.
FLRN currently has the higher Sharpe Ratio (7.18 vs 1.27), 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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