MILK vs. IBDR
MILK (Pacer US Cash Cows Bond ETF) and IBDR (iShares iBonds Dec 2026 Term Corporate ETF) are both Corporate Bonds funds - MILK tracks the Solactive Pacer US Cash Cows Bond Index while IBDR tracks the Barclays December 2026 Maturity Corporate Index. Both are passively managed. Over the past year, MILK returned 9.23% vs 4.38% for IBDR. At a 0.28 correlation, their price movements are largely independent. MILK charges 0.49%/yr vs 0.10%/yr for IBDR.
Performance
MILK vs. IBDR - Performance Comparison
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Returns By Period
In the year-to-date period, MILK achieves a 2.18% return, which is significantly higher than IBDR's 1.44% return.
MILK
- 1D
- -0.24%
- 1M
- 1.10%
- YTD
- 2.18%
- 6M
- 1.55%
- 1Y
- 9.23%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBDR
- 1D
- -0.04%
- 1M
- 0.25%
- YTD
- 1.44%
- 6M
- 1.80%
- 1Y
- 4.38%
- 3Y*
- 5.07%
- 5Y*
- 1.50%
- 10Y*
- —
MILK vs. IBDR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MILK Pacer US Cash Cows Bond ETF | 2.18% | 7.49% | -0.35% |
IBDR iShares iBonds Dec 2026 Term Corporate ETF | 1.44% | 4.99% | 0.33% |
Correlation
The correlation between MILK and IBDR is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2024 | 0.28 |
The correlation between MILK and IBDR shifts across timeframes, from 0.15 (1 year) to 0.28 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MILK vs. IBDR — Risk / Return Rank
MILK
IBDR
MILK vs. IBDR - 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 2026 Term Corporate ETF (IBDR). 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 | IBDR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.15 | ||
| Sortino ratioReturn per unit of downside risk | -12.00 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 3.40 | -2.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | 53.28 | -50.81 |
| Martin ratioReturn relative to average drawdown | 8.90 | 185.24 | -176.34 |
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
| MILK | IBDR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.78 | 6.93 | -5.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.44 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.97 | 0.61 | +0.36 |
Drawdowns
MILK vs. IBDR - Drawdown Comparison
The maximum MILK drawdown since its inception was -6.16%, smaller than the maximum IBDR drawdown of -16.06%. Use the drawdown chart below to compare losses from any high point for MILK and IBDR.
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Drawdown Indicators
| MILK | IBDR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.16% | -16.06% | +9.90% |
Max Drawdown (1Y)Largest decline over 1 year | -3.75% | -0.08% | -3.67% |
Max Drawdown (3Y)Largest decline over 3 years | — | -1.08% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -13.13% | — |
Current DrawdownCurrent decline from peak | -0.24% | -0.04% | -0.20% |
Average DrawdownAverage peak-to-trough decline | -1.09% | -2.84% | +1.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 0.02% | +1.02% |
Volatility
MILK vs. IBDR - Volatility Comparison
Pacer US Cash Cows Bond ETF (MILK) has a higher volatility of 1.58% compared to iShares iBonds Dec 2026 Term Corporate ETF (IBDR) at 0.15%. This indicates that MILK's price experiences larger fluctuations and is considered to be riskier than IBDR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MILK | IBDR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.58% | 0.15% | +1.43% |
Volatility (6M)Calculated over the trailing 6-month period | 3.78% | 0.34% | +3.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.21% | 0.64% | +4.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.69% | 3.40% | +3.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.69% | 4.86% | +1.83% |
MILK vs. IBDR - Expense Ratio Comparison
MILK has a 0.49% expense ratio, which is higher than IBDR's 0.10% expense ratio.
Dividends
MILK vs. IBDR - Dividend Comparison
MILK's dividend yield for the trailing twelve months is around 7.04%, more than IBDR's 4.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
IBDR iShares iBonds Dec 2026 Term Corporate ETF | 4.13% | 4.20% | 4.13% | 3.41% | 2.44% | 2.11% | 2.61% | 3.25% | 3.56% | 3.22% | 0.86% |
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% |
Frequently Asked Questions
MILK and IBDR have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MILK has higher volatility (1.58%) compared to IBDR (0.15%). In terms of maximum drawdown, MILK dropped -6.16% vs IBDR's -16.06%.
On 1-year performance, MILK leads with 9.23% vs 4.38% for IBDR. On fees, IBDR is cheaper at 0.10% per year. On volatility, IBDR has been the lower-risk option at 0.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, MILK has performed better with a 9.23% return vs 4.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBDR is cheaper with a 0.10% expense ratio, compared with 0.49% for MILK.
MILK has the higher dividend yield at 7.04%, compared with 4.13% for IBDR.
MILK tracks Solactive Pacer US Cash Cows Bond Index, while IBDR tracks Barclays December 2026 Maturity Corporate Index. They also come from different issuers: Pacer and iShares. Their fees differ too: 0.49% for MILK and 0.10% for IBDR.
IBDR currently has the higher Sharpe Ratio (6.93 vs 1.78), 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.
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