PIFI vs. MAGG

Last updated Apr 1, 2026

Compare and contrast key facts about ClearShares Piton Intermediate Fixed Income ETF (PIFI) and Madison Aggregate Bond ETF (MAGG).

PIFI and MAGG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PIFI is an actively managed fund by ClearShares. It was launched on Oct 1, 2020. MAGG is an actively managed fund by Madison. It was launched on Aug 28, 2023.

Performance

PIFI vs. MAGG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ClearShares Piton Intermediate Fixed Income ETF (PIFI) and Madison Aggregate Bond ETF (MAGG). The values are adjusted to include any dividend payments, if applicable.

PIFI vs. MAGG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PIFI ClearShares Piton Intermediate Fixed Income ETF	0.11%	6.29%	2.52%	3.16%
MAGG Madison Aggregate Bond ETF	-0.07%	7.28%	1.81%	4.42%

Returns By Period

In the year-to-date period, PIFI achieves a 0.11% return, which is significantly higher than MAGG's -0.07% return.

PIFI

• 1D: 0.24%
• 1M: -1.21%
• YTD: 0.11%
• 6M: 1.14%
• 1Y: 4.15%
• 3Y*: 3.69%
• 5Y*: 1.20%
• 10Y*: —

MAGG

• 1D: 0.24%
• 1M: -1.74%
• YTD: -0.07%
• 6M: 1.21%
• 1Y: 4.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PIFI vs. MAGG - Expense Ratio Comparison

PIFI has a 0.45% expense ratio, which is higher than MAGG's 0.40% expense ratio.

PIFI

ClearShares Piton Intermediate Fixed Income ETF

MAGG

Madison Aggregate Bond ETF

Return for Risk

PIFI vs. MAGG — Risk / Return Rank

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

PIFI

PIFI Risk / Return Rank: 77
PIFI Sharpe Ratio Rank: 77
PIFI Sortino Ratio Rank: 81
PIFI Omega Ratio Rank: 70
PIFI Calmar Ratio Rank: 81
PIFI Martin Ratio Rank: 74

MAGG

MAGG Risk / Return Rank: 58
MAGG Sharpe Ratio Rank: 58
MAGG Sortino Ratio Rank: 58
MAGG Omega Ratio Rank: 50
MAGG Calmar Ratio Rank: 74
MAGG Martin Ratio Rank: 52

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.

PIFI vs. MAGG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ClearShares Piton Intermediate Fixed Income ETF (PIFI) and Madison Aggregate Bond ETF (MAGG). 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	MAGG	Difference
Sharpe ratio Return per unit of total volatility	1.44	1.06	+0.38
Sortino ratio Return per unit of downside risk	2.16	1.54	+0.62
Omega ratio Gain probability vs. loss probability	1.26	1.19	+0.07
Calmar ratio Return relative to maximum drawdown	2.28	1.98	+0.30
Martin ratio Return relative to average drawdown	8.00	5.09	+2.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PIFI vs. MAGG - Sharpe Ratio Comparison

The current PIFI Sharpe Ratio is 1.44, which is higher than the MAGG Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of PIFI and MAGG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PIFI	MAGG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.44	1.06	+0.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	1.08	-0.84

Correlation

The correlation between PIFI and MAGG is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

PIFI vs. MAGG - Dividend Comparison

PIFI's dividend yield for the trailing twelve months is around 3.75%, less than MAGG's 4.74% yield.

	TTM	2025	2024	2023	2022	2021
PIFI ClearShares Piton Intermediate Fixed Income ETF	3.75%	3.16%	2.92%	2.29%	1.22%	0.25%
MAGG Madison Aggregate Bond ETF	4.74%	4.80%	5.13%	1.49%	0.00%	0.00%

Drawdowns

PIFI vs. MAGG - Drawdown Comparison

The maximum PIFI drawdown since its inception was -10.59%, which is greater than MAGG's maximum drawdown of -4.56%. Use the drawdown chart below to compare losses from any high point for PIFI and MAGG.

Drawdown Indicators

	PIFI	MAGG	Difference
Max Drawdown Largest peak-to-trough decline	-10.59%	-4.56%	-6.03%
Max Drawdown (1Y) Largest decline over 1 year	-1.85%	-2.53%	+0.68%
Max Drawdown (5Y) Largest decline over 5 years	-10.41%	—	—
Current Drawdown Current decline from peak	-1.21%	-1.74%	+0.53%
Average Drawdown Average peak-to-trough decline	-3.29%	-1.24%	-2.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.53%	0.98%	-0.45%

Volatility

PIFI vs. MAGG - Volatility Comparison

The current volatility for ClearShares Piton Intermediate Fixed Income ETF (PIFI) is 1.11%, while Madison Aggregate Bond ETF (MAGG) has a volatility of 1.54%. This indicates that PIFI experiences smaller price fluctuations and is considered to be less risky than MAGG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PIFI	MAGG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.11%	1.54%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	1.77%	2.99%	-1.22%
Volatility (1Y) Calculated over the trailing 1-year period	2.88%	4.50%	-1.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.64%	4.82%	-1.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.51%	4.82%	-1.31%