MILK vs. IGBH
MILK (Pacer US Cash Cows Bond ETF) and IGBH (iShares Interest Rate Hedged Long-Term Corporate Bond ETF) are both Corporate Bonds funds - MILK tracks the Solactive Pacer US Cash Cows Bond Index while IGBH tracks the BlackRock Interest Rate Hedged Long-Term Corporate Bond Index. Both are passively managed. Over the past year, MILK returned 9.23% vs 9.39% for IGBH. At a 0.49 correlation, their price movements are largely independent. MILK charges 0.49%/yr vs 0.16%/yr for IGBH.
Performance
MILK vs. IGBH - Performance Comparison
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Returns By Period
In the year-to-date period, MILK achieves a 2.18% return, which is significantly lower than IGBH's 2.31% return.
MILK
- 1D
- -0.24%
- 1M
- 1.10%
- YTD
- 2.18%
- 6M
- 1.55%
- 1Y
- 9.23%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IGBH
- 1D
- -0.12%
- 1M
- 1.78%
- YTD
- 2.31%
- 6M
- 3.18%
- 1Y
- 9.39%
- 3Y*
- 8.96%
- 5Y*
- 5.27%
- 10Y*
- 5.04%
MILK vs. IGBH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MILK Pacer US Cash Cows Bond ETF | 2.18% | 7.49% | -0.35% |
IGBH iShares Interest Rate Hedged Long-Term Corporate Bond ETF | 2.31% | 7.90% | 0.30% |
Correlation
The correlation between MILK and IGBH is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2024 | 0.49 |
The correlation between MILK and IGBH has been stable across timeframes, ranging from 0.49 to 0.54 - a consistent structural relationship.
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Return for Risk
MILK vs. IGBH — Risk / Return Rank
MILK
IGBH
MILK vs. IGBH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pacer US Cash Cows Bond ETF (MILK) and iShares Interest Rate Hedged Long-Term Corporate Bond ETF (IGBH). 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 | IGBH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.45 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | 2.22 | +0.25 |
| Martin ratioReturn relative to average drawdown | 8.90 | 8.15 | +0.75 |
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 | IGBH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.78 | 2.33 | -0.55 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.86 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.55 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.97 | 0.52 | +0.45 |
Drawdowns
MILK vs. IGBH - Drawdown Comparison
The maximum MILK drawdown since its inception was -6.16%, smaller than the maximum IGBH drawdown of -33.67%. Use the drawdown chart below to compare losses from any high point for MILK and IGBH.
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Drawdown Indicators
| MILK | IGBH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.16% | -33.67% | +27.51% |
Max Drawdown (1Y)Largest decline over 1 year | -3.75% | -4.24% | +0.49% |
Max Drawdown (3Y)Largest decline over 3 years | — | -6.93% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -10.48% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.67% | — |
Current DrawdownCurrent decline from peak | -0.24% | -0.19% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -1.09% | -2.67% | +1.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 1.15% | -0.11% |
Volatility
MILK vs. IGBH - Volatility Comparison
Pacer US Cash Cows Bond ETF (MILK) has a higher volatility of 1.58% compared to iShares Interest Rate Hedged Long-Term Corporate Bond ETF (IGBH) at 0.87%. This indicates that MILK's price experiences larger fluctuations and is considered to be riskier than IGBH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MILK | IGBH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.58% | 0.87% | +0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 3.78% | 3.14% | +0.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.21% | 4.05% | +1.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.69% | 6.13% | +0.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.69% | 9.20% | -2.51% |
MILK vs. IGBH - Expense Ratio Comparison
MILK has a 0.49% expense ratio, which is higher than IGBH's 0.16% expense ratio.
Dividends
MILK vs. IGBH - Dividend Comparison
MILK's dividend yield for the trailing twelve months is around 7.04%, more than IGBH's 5.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGBH iShares Interest Rate Hedged Long-Term Corporate Bond ETF | 5.66% | 6.23% | 6.88% | 7.32% | 3.84% | 2.71% | 2.39% | 3.40% | 5.56% | 2.87% | 2.62% | 1.12% |
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
MILK and IGBH have a correlation of 0.54, 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 IGBH (0.87%). In terms of maximum drawdown, MILK dropped -6.16% vs IGBH's -33.67%.
On 1-year performance, IGBH leads with 9.39% vs 9.23% for MILK. On fees, IGBH is cheaper at 0.16% per year. On volatility, IGBH has been the lower-risk option at 0.87%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IGBH has performed better with a 9.39% return vs 9.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IGBH is cheaper with a 0.16% expense ratio, compared with 0.49% for MILK.
MILK has the higher dividend yield at 7.04%, compared with 5.66% for IGBH.
MILK tracks Solactive Pacer US Cash Cows Bond Index, while IGBH tracks BlackRock Interest Rate Hedged Long-Term Corporate Bond Index. They also come from different issuers: Pacer and iShares. Their fees differ too: 0.49% for MILK and 0.16% for IGBH.
IGBH currently has the higher Sharpe Ratio (2.33 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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