MPBFX vs. USIG
MPBFX (BNY Mellon Bond Fund) and USIG (iShares Broad USD Investment Grade Corporate Bond ETF) are both funds - MPBFX is a Intermediate Core Bond fund managed by BNY Mellon, while USIG is a Corporate Bonds fund tracking the ICE BofA US Corporate. Over the past 10 years, MPBFX returned 1.56%/yr vs 2.57%/yr for USIG. A 0.80 correlation means they provide meaningful diversification when combined. MPBFX charges 0.55%/yr vs 0.04%/yr for USIG.
Performance
MPBFX vs. USIG - Performance Comparison
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Returns By Period
In the year-to-date period, MPBFX achieves a 0.30% return, which is significantly lower than USIG's 0.71% return. Over the past 10 years, MPBFX has underperformed USIG with an annualized return of 1.56%, while USIG has yielded a comparatively higher 2.57% annualized return.
MPBFX
- 1D
- 0.27%
- 1M
- 0.77%
- YTD
- 0.30%
- 6M
- 0.48%
- 1Y
- 4.43%
- 3Y*
- 3.82%
- 5Y*
- -0.24%
- 10Y*
- 1.56%
USIG
- 1D
- -0.20%
- 1M
- 0.66%
- YTD
- 0.71%
- 6M
- 0.83%
- 1Y
- 5.29%
- 3Y*
- 5.41%
- 5Y*
- 0.59%
- 10Y*
- 2.57%
MPBFX vs. USIG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MPBFX BNY Mellon Bond Fund | 0.30% | 7.20% | 1.08% | 5.48% | -13.55% | -1.50% | 7.87% | 8.82% | -0.53% | 3.91% |
USIG iShares Broad USD Investment Grade Corporate Bond ETF | 0.71% | 7.86% | 2.56% | 8.71% | -15.30% | -1.34% | 9.44% | 13.99% | -2.21% | 5.75% |
Correlation
The correlation between MPBFX and USIG 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 (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2007 | 0.80 |
The correlation between MPBFX and USIG shifts across timeframes, from 0.80 (all time) to 0.94 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MPBFX vs. USIG — Risk / Return Rank
MPBFX
USIG
MPBFX vs. USIG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Bond Fund (MPBFX) and iShares Broad USD Investment Grade Corporate Bond ETF (USIG). 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.
| MPBFX | USIG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.23 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.55 | 1.90 | -0.35 |
| Martin ratioReturn relative to average drawdown | 4.43 | 6.05 | -1.62 |
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Drawdowns
MPBFX vs. USIG - Drawdown Comparison
The maximum MPBFX drawdown since its inception was -18.40%, smaller than the maximum USIG drawdown of -22.21%. Use the drawdown chart below to compare losses from any high point for MPBFX and USIG.
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Drawdown Indicators
| MPBFX | USIG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.40% | -22.21% | +3.81% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -2.79% | -0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -6.18% | -6.10% | -0.08% |
Max Drawdown (5Y)Largest decline over 5 years | -18.40% | -21.45% | +3.05% |
Max Drawdown (10Y)Largest decline over 10 years | -18.40% | -21.45% | +3.05% |
Current DrawdownCurrent decline from peak | -2.45% | -0.81% | -1.64% |
Average DrawdownAverage peak-to-trough decline | -2.41% | -3.41% | +1.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.00% | 0.88% | +0.12% |
Volatility
MPBFX vs. USIG - Volatility Comparison
BNY Mellon Bond Fund (MPBFX) has a higher volatility of 1.21% compared to iShares Broad USD Investment Grade Corporate Bond ETF (USIG) at 1.14%. This indicates that MPBFX's price experiences larger fluctuations and is considered to be riskier than USIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MPBFX | USIG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.21% | 1.14% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 2.80% | 3.13% | -0.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.74% | 4.10% | -0.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.86% | 6.82% | -0.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.85% | 6.83% | -1.98% |
MPBFX vs. USIG - Expense Ratio Comparison
MPBFX has a 0.55% expense ratio, which is higher than USIG's 0.04% expense ratio.
Dividends
MPBFX vs. USIG - Dividend Comparison
MPBFX's dividend yield for the trailing twelve months is around 3.82%, less than USIG's 4.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MPBFX BNY Mellon Bond Fund | 3.82% | 3.82% | 3.70% | 3.17% | 2.86% | 2.33% | 4.64% | 2.87% | 3.00% | 2.89% | 3.12% | 2.77% |
USIG iShares Broad USD Investment Grade Corporate Bond ETF | 4.73% | 4.62% | 4.51% | 3.94% | 3.14% | 2.33% | 2.82% | 3.37% | 3.44% | 3.03% | 2.87% | 3.24% |
Frequently Asked Questions
With a correlation of 0.93, MPBFX and USIG 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.
MPBFX has higher volatility (1.21%) compared to USIG (1.14%). In terms of maximum drawdown, MPBFX dropped -18.40% vs USIG's -22.21%.
USIG currently has the higher Sharpe Ratio (1.30 vs 1.19), 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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