MIGO vs. USPX

Last updated Jun 6, 2026

MIGO (MIG Core ETF) and USPX (Franklin U.S. Equity Index ETF) are both Large Cap Blend Equities funds. MIGO is actively managed, while USPX is passively managed. Their correlation of 0.89 suggests significant overlap in exposure. MIGO charges 0.45%/yr vs 0.03%/yr for USPX.

Performance

MIGO vs. USPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MIG Core ETF (MIGO) and Franklin U.S. Equity Index ETF (USPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MIGO

• 1D: -4.64%
• 1M: 1.87%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

USPX

• 1D: -2.63%
• 1M: 0.61%
• YTD: 8.24%
• 6M: 7.76%
• 1Y: 25.33%
• 3Y*: 21.51%
• 5Y*: 11.90%
• 10Y*: 12.40%

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

MIGO vs. USPX - Yearly Performance Comparison

	2026 (YTD)
MIGO MIG Core ETF	15.28%
USPX Franklin U.S. Equity Index ETF	8.64%

Correlation

The correlation between MIGO and USPX is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 24, 2026	0.89

Return for Risk

MIGO vs. USPX — Risk / Return Rank

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

USPX

USPX Risk / Return Rank: 65
USPX Sharpe Ratio Rank: 66
USPX Sortino Ratio Rank: 63
USPX Omega Ratio Rank: 65
USPX Calmar Ratio Rank: 59
USPX 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.

MIGO vs. USPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MIG Core ETF (MIGO) and Franklin U.S. Equity Index ETF (USPX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	MIGO	USPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.06	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.74	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.58	0.78	+1.79

Drawdowns

MIGO vs. USPX - Drawdown Comparison

The maximum MIGO drawdown since its inception was -13.39%, smaller than the maximum USPX drawdown of -31.21%. Use the drawdown chart below to compare losses from any high point for MIGO and USPX.

Drawdown Indicators

	MIGO	USPX	Difference
Max Drawdown Largest peak-to-trough decline	-13.39%	-31.21%	+17.82%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.15%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-19.21%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.60%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-31.21%	—
Current Drawdown Current decline from peak	-6.14%	-2.90%	-3.24%
Average Drawdown Average peak-to-trough decline	-2.84%	-4.44%	+1.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.01%	—

Volatility

Volatility by Period

	MIGO	USPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.80%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.57%	—
Volatility (1Y) Calculated over the trailing 1-year period	25.17%	12.39%	+12.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.17%	16.21%	+8.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.17%	15.94%	+9.23%

MIGO vs. USPX - Expense Ratio Comparison

MIGO has a 0.45% expense ratio, which is higher than USPX's 0.03% expense ratio.

Dividends

MIGO vs. USPX - Dividend Comparison

MIGO has not paid dividends to shareholders, while USPX's dividend yield for the trailing twelve months is around 1.06%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
MIGO MIG Core ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USPX Franklin U.S. Equity Index ETF	1.06%	1.07%	1.23%	1.35%	2.21%	2.40%	2.51%	3.07%	2.91%	2.60%	4.89%

Frequently Asked Questions

Can I hold both MIGO and USPX in my portfolio?

MIGO and USPX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MIGO or USPX?

On fees, USPX is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MIGO or USPX?

USPX is cheaper with a 0.03% expense ratio, compared with 0.45% for MIGO.

Which ETF pays a higher dividend yield, MIGO or USPX?

USPX has the higher dividend yield at 1.06%, compared with 0.00% for MIGO.

What is the main difference between MIGO and USPX?

They also come from different issuers: Exchange Traded Concepts and Franklin Templeton. Their fees differ too: 0.45% for MIGO and 0.03% for USPX.