MILK vs. IBDO

Last updated Jun 4, 2026

MILK (Pacer US Cash Cows Bond ETF) and IBDO (iShares iBonds Dec 2023 Term Corporate ETF) are both Corporate Bonds funds - MILK tracks the Solactive Pacer US Cash Cows Bond Index while IBDO tracks the Bloomberg December 2023 Maturity Corporate Index. Both are passively managed. MILK charges 0.49%/yr vs 0.10%/yr for IBDO.

Performance

MILK vs. IBDO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer US Cash Cows Bond ETF (MILK) and iShares iBonds Dec 2023 Term Corporate ETF (IBDO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MILK

• 1D: -0.24%
• 1M: 1.10%
• YTD: 2.18%
• 6M: 1.55%
• 1Y: 9.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBDO

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MILK vs. IBDO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MILK Pacer US Cash Cows Bond ETF	2.18%	7.49%	-0.35%
IBDO iShares iBonds Dec 2023 Term Corporate ETF	0.00%	0.00%	0.00%

Return for Risk

MILK vs. IBDO — Risk / Return Rank

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

MILK

MILK Risk / Return Rank: 52
MILK Sharpe Ratio Rank: 53
MILK Sortino Ratio Rank: 55
MILK Omega Ratio Rank: 51
MILK Calmar Ratio Rank: 50
MILK Martin Ratio Rank: 53

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. IBDO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer US Cash Cows Bond ETF (MILK) and iShares iBonds Dec 2023 Term Corporate ETF (IBDO). 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.

	MILK	IBDO	Difference
Sharpe ratio: Return per unit of total volatility	1.78	—	—
Sortino ratio: Return per unit of downside risk	2.59	—	—
Omega ratio: Gain probability vs. loss probability	1.32	—	—
Calmar ratio: Return relative to maximum drawdown	2.47	—	—
Martin ratio: Return relative to average drawdown	8.90	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	MILK	IBDO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.78	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.97	—	—

Drawdowns

Drawdown Indicators

	MILK	IBDO	Difference
Max Drawdown Largest peak-to-trough decline	-6.16%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-3.75%	—	—
Current Drawdown Current decline from peak	-0.24%	—	—
Average Drawdown Average peak-to-trough decline	-1.09%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.04%	—	—

Volatility

Volatility by Period

	MILK	IBDO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.58%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.78%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.21%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.69%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.69%	—	—

MILK vs. IBDO - Expense Ratio Comparison

MILK has a 0.49% expense ratio, which is higher than IBDO's 0.10% expense ratio.

Dividends

MILK vs. IBDO - Dividend Comparison

MILK's dividend yield for the trailing twelve months is around 7.04%, while IBDO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IBDO iShares iBonds Dec 2023 Term Corporate ETF	0.00%	0.00%	0.00%	3.61%	1.85%	2.04%	2.47%	3.01%	3.10%	2.96%	3.01%	2.39%
MILK Pacer US Cash Cows Bond ETF	7.04%	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

Which ETF is better, MILK or IBDO?

On fees, IBDO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MILK or IBDO?

IBDO is cheaper with a 0.10% expense ratio, compared with 0.49% for MILK.

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

MILK has the higher dividend yield at 7.04%, compared with 0.00% for IBDO.

What is the main difference between MILK and IBDO?

MILK tracks Solactive Pacer US Cash Cows Bond Index, while IBDO tracks Bloomberg December 2023 Maturity Corporate Index. They also come from different issuers: Pacer and iShares. Their fees differ too: 0.49% for MILK and 0.10% for IBDO.