PFIG vs. USIG

Last updated Jun 4, 2026

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 2.44%/yr vs 2.63%/yr for USIG. A 0.66 correlation means they provide meaningful diversification when combined. PFIG charges 0.22%/yr vs 0.04%/yr for USIG.

Performance

PFIG vs. USIG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Fundamental Investment Grade Corporate Bond ETF (PFIG) and iShares Broad USD Investment Grade Corporate Bond ETF (USIG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PFIG achieves a 0.19% return, which is significantly lower than USIG's 0.56% return. Over the past 10 years, PFIG has underperformed USIG with an annualized return of 2.44%, while USIG has yielded a comparatively higher 2.63% annualized return.

PFIG

• 1D: -0.19%
• 1M: 0.10%
• YTD: 0.19%
• 6M: 0.30%
• 1Y: 4.83%
• 3Y*: 5.21%
• 5Y*: 1.35%
• 10Y*: 2.44%

USIG

• 1D: -0.23%
• 1M: 0.56%
• YTD: 0.56%
• 6M: 0.37%
• 1Y: 6.04%
• 3Y*: 5.46%
• 5Y*: 0.72%
• 10Y*: 2.63%

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

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	0.19%	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	0.56%	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 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Sep 16, 2011	0.66

Over the past year, PFIG and USIG have become more correlated (0.89) than their long-term average of 0.66, meaning their price movements have been converging.

Return for Risk

PFIG vs. USIG — Risk / Return Rank

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

PFIG

PFIG Risk / Return Rank: 48
PFIG Sharpe Ratio Rank: 46
PFIG Sortino Ratio Rank: 49
PFIG Omega Ratio Rank: 44
PFIG Calmar Ratio Rank: 50
PFIG Martin Ratio Rank: 49

USIG

USIG Risk / Return Rank: 42
USIG Sharpe Ratio Rank: 41
USIG Sortino Ratio Rank: 42
USIG Omega Ratio Rank: 39
USIG Calmar Ratio Rank: 44
USIG Martin Ratio Rank: 43

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.

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.

	PFIG	USIG	Difference
Sharpe ratio Return per unit of total volatility	1.58	1.47	+0.11
Sortino ratio Return per unit of downside risk	2.38	2.16	+0.22
Omega ratio Gain probability vs. loss probability	1.28	1.26	+0.02
Calmar ratio Return relative to maximum drawdown	2.49	2.17	+0.32
Martin ratio Return relative to average drawdown	8.20	7.07	+1.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PFIG vs. USIG - Sharpe Ratio Comparison

The current PFIG Sharpe Ratio is 1.58, which is comparable to the USIG Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of PFIG and USIG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PFIG	USIG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.58	1.47	+0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	0.11	+0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	0.39	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.54	-0.01

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.

Drawdown Indicators

	PFIG	USIG	Difference
Max Drawdown Largest 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	-3.52%	-6.10%	+2.58%
Max Drawdown (5Y) Largest decline over 5 years	-15.58%	-21.45%	+5.87%
Max Drawdown (10Y) Largest decline over 10 years	-15.58%	-21.45%	+5.87%
Current Drawdown Current decline from peak	-0.98%	-0.97%	-0.01%
Average Drawdown Average peak-to-trough decline	-2.46%	-3.42%	+0.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.59%	0.86%	-0.27%

Volatility

PFIG vs. USIG - Volatility Comparison

The current volatility for Invesco Fundamental Investment Grade Corporate Bond ETF (PFIG) is 0.92%, while iShares Broad USD Investment Grade Corporate Bond ETF (USIG) has a volatility of 1.27%. 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.

Volatility by Period

	PFIG	USIG	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.92%	1.27%	-0.35%
Volatility (6M) Calculated over the trailing 6-month period	2.19%	3.04%	-0.85%
Volatility (1Y) Calculated over the trailing 1-year period	3.07%	4.13%	-1.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.92%	6.82%	-1.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.24%	6.82%	-1.58%

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 4.40%, less than USIG's 4.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PFIG Invesco Fundamental Investment Grade Corporate Bond ETF	4.40%	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	4.74%	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

Can I hold both PFIG and USIG in my portfolio?

PFIG and USIG have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PFIG or USIG?

USIG has higher volatility (1.27%) compared to PFIG (0.92%). In terms of maximum drawdown, PFIG dropped -15.58% vs USIG's -22.21%.

Which ETF is better, PFIG or USIG?

On 10-year performance, USIG leads with 2.63% vs 2.44% for PFIG. On fees, USIG is cheaper at 0.04% per year. On volatility, PFIG has been the lower-risk option at 0.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PFIG or USIG?

Over the 10-year period, USIG has performed better with a 2.63% return vs 2.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PFIG or USIG?

USIG is cheaper with a 0.04% expense ratio, compared with 0.22% for PFIG.

Which ETF pays a higher dividend yield, PFIG or USIG?

USIG has the higher dividend yield at 4.74%, compared with 4.40% for PFIG.

What is the main difference between PFIG and 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.

Which has better risk-adjusted returns?

PFIG currently has the higher Sharpe Ratio (1.58 vs 1.47), 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.