PIFI vs. FIGB
PIFI (ClearShares Piton Intermediate Fixed Income ETF) and FIGB (Fidelity Investment Grade Bond ETF) are both Intermediate Core Bond funds. Both are actively managed. Over the past 5 years, PIFI returned 1.02%/yr vs 0.24%/yr for FIGB. Their correlation of 0.87 suggests significant overlap in exposure. PIFI charges 0.45%/yr vs 0.36%/yr for FIGB.
Performance
PIFI vs. FIGB - Performance Comparison
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Returns By Period
In the year-to-date period, PIFI achieves a -0.13% return, which is significantly lower than FIGB's 0.14% return.
PIFI
- 1D
- -0.15%
- 1M
- -0.05%
- YTD
- -0.13%
- 6M
- -0.14%
- 1Y
- 3.48%
- 3Y*
- 3.73%
- 5Y*
- 1.02%
- 10Y*
- —
FIGB
- 1D
- 0.00%
- 1M
- 0.04%
- YTD
- 0.14%
- 6M
- 0.20%
- 1Y
- 4.24%
- 3Y*
- 4.08%
- 5Y*
- 0.24%
- 10Y*
- —
PIFI vs. FIGB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PIFI ClearShares Piton Intermediate Fixed Income ETF | -0.13% | 6.29% | 2.52% | 4.61% | -7.15% | -0.02% |
FIGB Fidelity Investment Grade Bond ETF | 0.14% | 6.95% | 1.51% | 6.65% | -13.43% | 1.77% |
Correlation
The correlation between PIFI and FIGB is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Mar 5, 2021 | 0.87 |
The correlation between PIFI and FIGB has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.
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Return for Risk
PIFI vs. FIGB — Risk / Return Rank
PIFI
FIGB
PIFI vs. FIGB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ClearShares Piton Intermediate Fixed Income ETF (PIFI) and Fidelity Investment Grade Bond ETF (FIGB). 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.
| PIFI | FIGB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.18 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 1.45 | +0.36 |
| Martin ratioReturn relative to average drawdown | 5.24 | 4.50 | +0.74 |
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
| PIFI | FIGB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.34 | 1.04 | +0.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.28 | 0.04 | +0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.07 | +0.15 |
Drawdowns
PIFI vs. FIGB - Drawdown Comparison
The maximum PIFI drawdown since its inception was -10.59%, smaller than the maximum FIGB drawdown of -18.08%. Use the drawdown chart below to compare losses from any high point for PIFI and FIGB.
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Drawdown Indicators
| PIFI | FIGB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.59% | -18.08% | +7.49% |
Max Drawdown (1Y)Largest decline over 1 year | -1.93% | -2.93% | +1.00% |
Max Drawdown (3Y)Largest decline over 3 years | -2.75% | -6.17% | +3.42% |
Max Drawdown (5Y)Largest decline over 5 years | -10.41% | -18.08% | +7.67% |
Current DrawdownCurrent decline from peak | -1.45% | -1.60% | +0.15% |
Average DrawdownAverage peak-to-trough decline | -3.23% | -6.92% | +3.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 0.95% | -0.29% |
Volatility
PIFI vs. FIGB - Volatility Comparison
The current volatility for ClearShares Piton Intermediate Fixed Income ETF (PIFI) is 0.81%, while Fidelity Investment Grade Bond ETF (FIGB) has a volatility of 1.42%. This indicates that PIFI experiences smaller price fluctuations and is considered to be less risky than FIGB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PIFI | FIGB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.81% | 1.42% | -0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 1.83% | 2.87% | -1.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.61% | 4.16% | -1.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.66% | 6.28% | -2.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.48% | 6.16% | -2.68% |
PIFI vs. FIGB - Expense Ratio Comparison
PIFI has a 0.45% expense ratio, which is higher than FIGB's 0.36% expense ratio.
Dividends
PIFI vs. FIGB - Dividend Comparison
PIFI's dividend yield for the trailing twelve months is around 3.76%, less than FIGB's 4.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
FIGB Fidelity Investment Grade Bond ETF | 4.11% | 4.15% | 4.28% | 3.79% | 2.44% | 1.10% |
PIFI ClearShares Piton Intermediate Fixed Income ETF | 3.76% | 3.16% | 2.92% | 2.29% | 1.22% | 0.25% |
Frequently Asked Questions
PIFI and FIGB have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FIGB has higher volatility (1.42%) compared to PIFI (0.81%). In terms of maximum drawdown, PIFI dropped -10.59% vs FIGB's -18.08%.
On 5-year performance, PIFI leads with 1.02% vs 0.24% for FIGB. On fees, FIGB is cheaper at 0.36% per year. On volatility, PIFI has been the lower-risk option at 0.81%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PIFI has performed better with a 1.02% return vs 0.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FIGB is cheaper with a 0.36% expense ratio, compared with 0.45% for PIFI.
FIGB has the higher dividend yield at 4.11%, compared with 3.76% for PIFI.
They also come from different issuers: ClearShares and Fidelity. Their fees differ too: 0.45% for PIFI and 0.36% for FIGB.
PIFI currently has the higher Sharpe Ratio (1.34 vs 1.04), 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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