PFIG vs. USIG
PFIG (Invesco Fundamental Investment Grade Corporate Bond ETF) and USIG (iShares Broad USD Investment Grade Corporate Bond ETF) are both Corporate Bonds funds - PFIG tracks the RAFI Bonds US Investment Grade 1-10 Index while USIG tracks the ICE BofA US Corporate. Both are passively managed. Over the past 10 years, PFIG returned 2.30%/yr vs 2.31%/yr for USIG. Their 0.66 correlation means they have sometimes moved together and sometimes differently. PFIG charges 0.22%/yr vs 0.04%/yr for USIG.
Performance
PFIG vs. USIG - Performance Comparison
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Returns By Period
In the year-to-date period, PFIG achieves a -0.08% return, which is significantly higher than USIG's -0.49% return. Both investments have delivered pretty close results over the past 10 years, with PFIG having a 2.30% annualized return and USIG not far ahead at 2.31%.
PFIG
- 1D
- -0.19%
- 1M
- -0.71%
- 6M
- -0.39%
- YTD
- -0.08%
- 1Y
- 2.48%
- 3Y*
- 5.21%
- 5Y*
- 1.03%
- 10Y*
- 2.30%
- ALL TIME*
- 2.73%
USIG
- 1D
- -0.10%
- 1M
- -1.51%
- 6M
- -0.85%
- YTD
- -0.49%
- 1Y
- 2.04%
- 3Y*
- 5.08%
- 5Y*
- 0.00%
- 10Y*
- 2.31%
- ALL TIME*
- 3.85%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $904.23K | $645.93K | $461.69K | |
| $98.77M | $106.12M | $96.97M |
PFIG vs. USIG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PFIG Invesco Fundamental Investment Grade Corporate Bond ETF | -0.08% | 7.87% | 3.13% | 6.93% | -9.96% | -1.43% | 7.72% | 9.69% | -0.82% | 4.00% |
USIG iShares Broad USD Investment Grade Corporate Bond ETF | -0.49% | 7.86% | 2.56% | 8.71% | -15.30% | -1.34% | 9.44% | 13.99% | -2.21% | 5.75% |
Correlation
The correlation between PFIG and USIG is 0.90, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.90 |
Correlation (3Y) Balances recent behavior with more history. | 0.86 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.88 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.77 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2011 | 0.66 |
Over the past year, PFIG and USIG have become more correlated (0.90) than their long-term average of 0.66, meaning their price movements have been converging.
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Return for Risk
PFIG vs. USIG — Risk / Return Rank
PFIG
USIG
PFIG vs. USIG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Fundamental Investment Grade Corporate Bond ETF (PFIG) 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.
| PFIG | USIG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.12 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.58 | 1.01 | +0.57 |
| Martin ratioReturn relative to average drawdown | 4.46 | 2.91 | +1.56 |
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Drawdowns
PFIG vs. USIG - Drawdown Comparison
The maximum PFIG drawdown since its inception was -15.58%, smaller than the maximum USIG drawdown of -22.21%. Use the drawdown chart below to compare losses from any high point for PFIG and USIG.
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Drawdown Indicators
| PFIG | USIG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.58% | -22.21% | +6.63% |
Max Drawdown (1Y)Largest decline over 1 year | -1.94% | -2.79% | +0.85% |
Max Drawdown (3Y)Largest decline over 3 years | -3.08% | -4.97% | +1.89% |
Max Drawdown (5Y)Largest decline over 5 years | -15.41% | -21.45% | +6.04% |
Max Drawdown (10Y)Largest decline over 10 years | -15.58% | -21.45% | +5.87% |
Current DrawdownCurrent decline from peak | -1.24% | -2.00% | +0.76% |
Average DrawdownAverage peak-to-trough decline | -2.45% | -3.40% | +0.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 0.97% | -0.28% |
Volatility
PFIG vs. USIG - Volatility Comparison
The current volatility for Invesco Fundamental Investment Grade Corporate Bond ETF (PFIG) is 0.84%, while iShares Broad USD Investment Grade Corporate Bond ETF (USIG) has a volatility of 1.06%. This indicates that PFIG experiences smaller price fluctuations and is considered to be less risky 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
| PFIG | USIG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.84% | 1.06% | -0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 2.34% | 3.22% | -0.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.07% | 4.07% | -1.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.92% | 6.81% | -1.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.20% | 6.82% | -1.62% |
PFIG vs. USIG - Expense Ratio Comparison
PFIG has a 0.22% expense ratio, which is higher than USIG's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
PFIG vs. USIG - Dividend Comparison
PFIG's dividend yield for the trailing twelve months is around 4.47%, less than USIG's 4.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PFIG Invesco Fundamental Investment Grade Corporate Bond ETF | 4.47% | 4.15% | 4.12% | 3.54% | 2.58% | 3.34% | 2.81% | 2.92% | 2.88% | 2.54% | 2.58% | 2.57% |
USIG iShares Broad USD Investment Grade Corporate Bond ETF | 4.42% | 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 0.90, PFIG 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.
USIG has higher volatility (1.06%) compared to PFIG (0.84%). In terms of maximum drawdown, PFIG dropped -15.58% vs USIG's -22.21%.
On 10-year performance, USIG leads with 2.31% vs 2.30% for PFIG. On fees, USIG is cheaper at 0.04% per year. On volatility, PFIG has been the lower-risk option at 0.84%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, USIG has performed better with a 2.31% return vs 2.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USIG is cheaper with a 0.04% expense ratio, compared with 0.22% for PFIG.
PFIG has the higher dividend yield at 4.47%, compared with 4.42% for USIG.
PFIG tracks RAFI Bonds US Investment Grade 1-10 Index, while USIG tracks ICE BofA US Corporate. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.22% for PFIG and 0.04% for USIG.
PFIG currently has the higher Sharpe Ratio (1.00 vs 0.70), 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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