MILK vs. CORP

Last updated Jun 23, 2026

MILK (Pacer US Cash Cows Bond ETF) and CORP (PIMCO Investment Grade Corporate Bond Index ETF) are both Corporate Bonds funds - MILK tracks the Solactive Pacer US Cash Cows Bond Index while CORP tracks the ICE BofA US Corporate. Both are passively managed. Over the past year, MILK returned 7.64% vs 5.21% for CORP. Their correlation of 0.92 suggests significant overlap in exposure. MILK charges 0.49%/yr vs 0.20%/yr for CORP.

Performance

MILK vs. CORP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer US Cash Cows Bond ETF (MILK) and PIMCO Investment Grade Corporate Bond Index ETF (CORP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MILK achieves a 2.37% return, which is significantly higher than CORP's 0.65% return.

MILK

• 1D: -0.26%
• 1M: 0.86%
• YTD: 2.37%
• 6M: 2.72%
• 1Y: 7.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CORP

• 1D: -0.22%
• 1M: 0.60%
• YTD: 0.65%
• 6M: 0.81%
• 1Y: 5.21%
• 3Y*: 5.45%
• 5Y*: 0.74%
• 10Y*: 2.75%

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

MILK vs. CORP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MILK Pacer US Cash Cows Bond ETF	2.37%	7.49%	-1.49%
CORP PIMCO Investment Grade Corporate Bond Index ETF	0.65%	7.96%	-1.04%

Correlation

The correlation between MILK and CORP 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 (All Time) Calculated using the full available price history since Dec 18, 2024	0.92

The correlation between MILK and CORP has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.

Return for Risk

MILK vs. CORP — Risk / Return Rank

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

MILK

MILK Risk / Return Rank: 44
MILK Sharpe Ratio Rank: 44
MILK Sortino Ratio Rank: 44
MILK Omega Ratio Rank: 42
MILK Calmar Ratio Rank: 42
MILK Martin Ratio Rank: 46

CORP

CORP Risk / Return Rank: 36
CORP Sharpe Ratio Rank: 36
CORP Sortino Ratio Rank: 37
CORP Omega Ratio Rank: 33
CORP Calmar Ratio Rank: 37
CORP Martin Ratio Rank: 37

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.

MILK vs. CORP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer US Cash Cows Bond ETF (MILK) and PIMCO Investment Grade Corporate Bond Index ETF (CORP). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	MILK	CORP	Difference
Sharpe ratio: Return per unit of total volatility	1.49	1.26	+0.23
Sortino ratio: Return per unit of downside risk	2.17	1.87	+0.30
Omega ratio: Gain probability vs. loss probability	1.26	1.22	+0.04
Calmar ratio: Return relative to maximum drawdown	2.05	1.82	+0.23
Martin ratio: Return relative to average drawdown	7.36	5.72	+1.64

MILK vs. CORP - Sharpe Ratio Comparison

The current MILK Sharpe Ratio is 1.49, which is comparable to the CORP Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of MILK and CORP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MILK vs. CORP - Drawdown Comparison

The maximum MILK drawdown since its inception was -6.16%, smaller than the maximum CORP drawdown of -21.21%. Use the drawdown chart below to compare losses from any high point for MILK and CORP.

Drawdown Indicators

	MILK	CORP	Difference
Max Drawdown Largest peak-to-trough decline	-6.16%	-21.21%	+15.05%
Max Drawdown (1Y) Largest decline over 1 year	-3.75%	-2.88%	-0.87%
Max Drawdown (3Y) Largest decline over 3 years	—	-6.06%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.21%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-21.21%	—
Current Drawdown Current decline from peak	-0.34%	-0.99%	+0.65%
Average Drawdown Average peak-to-trough decline	-1.13%	-3.60%	+2.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.04%	0.91%	+0.13%

Volatility

MILK vs. CORP - Volatility Comparison

Pacer US Cash Cows Bond ETF (MILK) and PIMCO Investment Grade Corporate Bond Index ETF (CORP) have volatilities of 1.26% and 1.21%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MILK	CORP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.26%	1.21%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	3.82%	3.11%	+0.71%
Volatility (1Y) Calculated over the trailing 1-year period	5.16%	4.16%	+1.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.70%	6.89%	-0.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.70%	7.09%	-0.39%

MILK vs. CORP - Expense Ratio Comparison

MILK has a 0.49% expense ratio, which is higher than CORP's 0.20% expense ratio.

Dividends

MILK vs. CORP - Dividend Comparison

MILK's dividend yield for the trailing twelve months is around 7.03%, more than CORP's 4.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CORP PIMCO Investment Grade Corporate Bond Index ETF	4.85%	4.77%	4.74%	4.12%	3.28%	2.51%	2.90%	3.25%	3.18%	3.08%	2.91%	3.14%
MILK Pacer US Cash Cows Bond ETF	7.03%	6.97%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MILK and CORP in my portfolio?

With a correlation of 0.93, MILK and CORP 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.

Which is riskier, MILK or CORP?

MILK has higher volatility (1.26%) compared to CORP (1.21%). In terms of maximum drawdown, MILK dropped -6.16% vs CORP's -21.21%.

Which ETF is better, MILK or CORP?

On 1-year performance, MILK leads with 7.64% vs 5.21% for CORP. On fees, CORP is cheaper at 0.20% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MILK or CORP?

Over the 1-year period, MILK has performed better with a 7.64% return vs 5.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MILK or CORP?

CORP is cheaper with a 0.20% expense ratio, compared with 0.49% for MILK.

Which ETF pays a higher dividend yield, MILK or CORP?

MILK has the higher dividend yield at 7.03%, compared with 4.85% for CORP.

What is the main difference between MILK and CORP?

MILK tracks Solactive Pacer US Cash Cows Bond Index, while CORP tracks ICE BofA US Corporate. They also come from different issuers: Pacer and PIMCO. Their fees differ too: 0.49% for MILK and 0.20% for CORP.

Which has better risk-adjusted returns?

MILK currently has the higher Sharpe Ratio (1.49 vs 1.26), 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.