MILK vs. FEIG

Last updated Jul 11, 2026

MILK (Pacer US Cash Cows Bond ETF) and FEIG (FlexShares ESG & Climate Investment Grade Corporate Core Index Fund) are both Corporate Bonds funds - MILK tracks the Solactive Pacer US Cash Cows Bond Index while FEIG tracks the Northern Trust ESG & Climate Investment Grade U.S. Corporate Core TR. Both are passively managed. Over the past year, MILK returned 6.79% vs 3.90% for FEIG. Their correlation of 0.93 suggests significant overlap in exposure. MILK charges 0.49%/yr vs 0.12%/yr for FEIG.

Performance

MILK vs. FEIG - Performance Comparison

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

Returns By Period

In the year-to-date period, MILK achieves a 1.91% return, which is significantly higher than FEIG's -0.06% return.

MILK

• 1D: -0.26%
• 1M: -0.56%
• 6M: 1.29%
• YTD: 1.91%
• 1Y: 6.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FEIG

• 1D: -0.19%
• 1M: -0.76%
• 6M: -0.29%
• YTD: -0.06%
• 1Y: 3.90%
• 3Y*: 4.90%
• 5Y*: —
• 10Y*: —

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

MILK vs. FEIG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MILK Pacer US Cash Cows Bond ETF	1.91%	7.49%	-1.49%
FEIG FlexShares ESG & Climate Investment Grade Corporate Core Index Fund	-0.06%	7.31%	-1.13%

Correlation

The correlation between MILK and FEIG is 0.94, 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	0.94
Correlation (All Time) Calculated using the full available price history since Dec 18, 2024	0.93

The correlation between MILK and FEIG has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.

Return for Risk

MILK vs. FEIG — Risk / Return Rank

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

MILK

MILK Risk / Return Rank: 42
MILK Sharpe Ratio Rank: 43
MILK Sortino Ratio Rank: 43
MILK Omega Ratio Rank: 40
MILK Calmar Ratio Rank: 40
MILK Martin Ratio Rank: 46

FEIG

FEIG Risk / Return Rank: 27
FEIG Sharpe Ratio Rank: 27
FEIG Sortino Ratio Rank: 25
FEIG Omega Ratio Rank: 24
FEIG Calmar Ratio Rank: 30
FEIG Martin Ratio Rank: 31

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. FEIG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer US Cash Cows Bond ETF (MILK) and FlexShares ESG & Climate Investment Grade Corporate Core Index Fund (FEIG). 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	FEIG	Difference
Sharpe ratio: Return per unit of total volatility	1.23	0.78	+0.44
Sortino ratio: Return per unit of downside risk	1.78	1.15	+0.63
Omega ratio: Gain probability vs. loss probability	1.21	1.14	+0.08
Calmar ratio: Return relative to maximum drawdown	1.65	1.22	+0.43
Martin ratio: Return relative to average drawdown	6.04	3.60	+2.44

MILK vs. FEIG - Sharpe Ratio Comparison

The current MILK Sharpe Ratio is 1.23, which is higher than the FEIG Sharpe Ratio of 0.78. The chart below compares the historical Sharpe Ratios of MILK and FEIG, 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. FEIG - Drawdown Comparison

The maximum MILK drawdown since its inception was -6.16%, smaller than the maximum FEIG drawdown of -22.26%. Use the drawdown chart below to compare losses from any high point for MILK and FEIG.

Drawdown Indicators

	MILK	FEIG	Difference
Max Drawdown Largest peak-to-trough decline	-6.16%	-22.26%	+16.10%
Max Drawdown (1Y) Largest decline over 1 year	-3.75%	-2.81%	-0.94%
Max Drawdown (3Y) Largest decline over 3 years	—	-6.67%	—
Current Drawdown Current decline from peak	-1.19%	-2.09%	+0.90%
Average Drawdown Average peak-to-trough decline	-1.11%	-9.34%	+8.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.03%	0.95%	+0.08%

Volatility

MILK vs. FEIG - Volatility Comparison

Pacer US Cash Cows Bond ETF (MILK) and FlexShares ESG & Climate Investment Grade Corporate Core Index Fund (FEIG) have volatilities of 1.26% and 1.28%, 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	FEIG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.26%	1.28%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	3.82%	3.43%	+0.39%
Volatility (1Y) Calculated over the trailing 1-year period	5.05%	4.38%	+0.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.63%	7.34%	-0.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.63%	7.34%	-0.71%

MILK vs. FEIG - Expense Ratio Comparison

MILK has a 0.49% expense ratio, which is higher than FEIG's 0.12% expense ratio.

Dividends

MILK vs. FEIG - Dividend Comparison

MILK's dividend yield for the trailing twelve months is around 7.00%, more than FEIG's 4.78% yield.

Position	TTM	2025	2024	2023	2022	2021
FEIG FlexShares ESG & Climate Investment Grade Corporate Core Index Fund	4.78%	4.84%	4.65%	4.21%	2.99%	0.55%
MILK Pacer US Cash Cows Bond ETF	7.00%	6.97%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MILK and FEIG in my portfolio?

With a correlation of 0.94, MILK and FEIG 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 FEIG?

FEIG has higher volatility (1.28%) compared to MILK (1.26%). In terms of maximum drawdown, MILK dropped -6.16% vs FEIG's -22.26%.

Which ETF is better, MILK or FEIG?

On 1-year performance, MILK leads with 6.79% vs 3.90% for FEIG. On fees, FEIG is cheaper at 0.12% 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 FEIG?

Over the 1-year period, MILK has performed better with a 6.79% return vs 3.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MILK or FEIG?

FEIG is cheaper with a 0.12% expense ratio, compared with 0.49% for MILK.

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

MILK has the higher dividend yield at 7.00%, compared with 4.78% for FEIG.

What is the main difference between MILK and FEIG?

MILK tracks Solactive Pacer US Cash Cows Bond Index, while FEIG tracks Northern Trust ESG & Climate Investment Grade U.S. Corporate Core TR. They also come from different issuers: Pacer and FlexShares. Their fees differ too: 0.49% for MILK and 0.12% for FEIG.

Which has better risk-adjusted returns?

MILK currently has the higher Sharpe Ratio (1.23 vs 0.78), 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.