MIG vs. USIG
MIG (VanEck Moody's Analytics IG Corporate Bond ETF) and USIG (iShares Broad USD Investment Grade Corporate Bond ETF) are both Corporate Bonds funds - MIG tracks the MVIS Moody's Analytics US Investment Grade Corporate Bond Index (TR Gross) (MVCI) while USIG tracks the ICE BofA US Corporate. Both are passively managed. Over the past 5 years, MIG returned 0.97%/yr vs 0.72%/yr for USIG. With a 0.97 correlation, they move nearly in lockstep. MIG charges 0.20%/yr vs 0.04%/yr for USIG.
Performance
MIG vs. USIG - 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 USIG's 0.56% return.
MIG
- 1D
- -0.19%
- 1M
- 0.41%
- YTD
- 0.39%
- 6M
- -0.01%
- 1Y
- 5.37%
- 3Y*
- 5.64%
- 5Y*
- 0.97%
- 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%
MIG vs. USIG - 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% |
USIG iShares Broad USD Investment Grade Corporate Bond ETF | 0.56% | 7.86% | 2.56% | 8.71% | -15.30% | -1.34% | 0.86% |
Correlation
The correlation between MIG and USIG is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2020 | 0.97 |
The correlation between MIG and USIG has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.
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Return for Risk
MIG vs. USIG — Risk / Return Rank
MIG
USIG
MIG vs. USIG - 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 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.
| MIG | USIG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.26 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.90 | 2.17 | -0.27 |
| Martin ratioReturn relative to average drawdown | 5.24 | 7.07 | -1.83 |
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 | USIG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.27 | 1.47 | -0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | 0.11 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.39 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.14 | 0.54 | -0.39 |
Drawdowns
MIG vs. USIG - Drawdown Comparison
The maximum MIG drawdown since its inception was -20.98%, smaller than the maximum USIG drawdown of -22.21%. Use the drawdown chart below to compare losses from any high point for MIG and USIG.
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Drawdown Indicators
| MIG | USIG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.98% | -22.21% | +1.23% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -2.79% | -0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -5.61% | -6.10% | +0.49% |
Max Drawdown (5Y)Largest decline over 5 years | -20.98% | -21.45% | +0.47% |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.45% | — |
Current DrawdownCurrent decline from peak | -1.24% | -0.97% | -0.27% |
Average DrawdownAverage peak-to-trough decline | -6.81% | -3.42% | -3.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.03% | 0.86% | +0.17% |
Volatility
MIG vs. USIG - Volatility Comparison
VanEck Moody's Analytics IG Corporate Bond ETF (MIG) has a higher volatility of 1.47% compared to iShares Broad USD Investment Grade Corporate Bond ETF (USIG) at 1.27%. This indicates that MIG'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
| MIG | USIG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.47% | 1.27% | +0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 3.13% | 3.04% | +0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.26% | 4.13% | +0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.35% | 6.82% | -0.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.22% | 6.82% | -0.60% |
MIG vs. USIG - Expense Ratio Comparison
MIG has a 0.20% 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
MIG vs. USIG - Dividend Comparison
MIG's dividend yield for the trailing twelve months is around 4.78%, which matches USIG's 4.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
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 0.93, MIG 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.
MIG has higher volatility (1.47%) compared to USIG (1.27%). In terms of maximum drawdown, MIG dropped -20.98% vs USIG's -22.21%.
On 5-year performance, MIG leads with 0.97% vs 0.72% for USIG. 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 5-year period, MIG has performed better with a 0.97% return vs 0.72%. 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 0.20% for MIG.
MIG has the higher dividend yield at 4.78%, compared with 4.74% for USIG.
MIG tracks MVIS Moody's Analytics US Investment Grade Corporate Bond Index (TR Gross) (MVCI), while USIG tracks ICE BofA US Corporate. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.20% for MIG and 0.04% for USIG.
USIG currently has the higher Sharpe Ratio (1.47 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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