SCRD vs. MILK

Last updated Jun 4, 2026

SCRD (Janus Henderson Corporate Bond ETF) and MILK (Pacer US Cash Cows Bond ETF) are both Corporate Bonds funds. SCRD is actively managed, while MILK is passively managed. Over the past year, SCRD returned 6.25% vs 9.23% for MILK. Their correlation of 0.92 suggests significant overlap in exposure. SCRD charges 0.35%/yr vs 0.49%/yr for MILK.

Performance

SCRD vs. MILK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Corporate Bond ETF (SCRD) and Pacer US Cash Cows Bond ETF (MILK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCRD achieves a 0.24% return, which is significantly lower than MILK's 2.18% return.

SCRD

• 1D: -0.21%
• 1M: 0.42%
• YTD: 0.24%
• 6M: 0.13%
• 1Y: 6.25%
• 3Y*: 5.54%
• 5Y*: —
• 10Y*: —

MILK

• 1D: -0.24%
• 1M: 1.10%
• YTD: 2.18%
• 6M: 1.55%
• 1Y: 9.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SCRD vs. MILK - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SCRD Janus Henderson Corporate Bond ETF	0.24%	7.77%	-0.20%
MILK Pacer US Cash Cows Bond ETF	2.18%	7.49%	-0.35%

Correlation

The correlation between SCRD and MILK is 0.92, 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	0.92
Correlation (All Time) Calculated using the full available price history since Dec 19, 2024	0.92

The correlation between SCRD and MILK has been stable across timeframes, ranging from 0.92 to 0.92 - a consistent structural relationship.

Return for Risk

SCRD vs. MILK — Risk / Return Rank

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

SCRD

SCRD Risk / Return Rank: 47
SCRD Sharpe Ratio Rank: 47
SCRD Sortino Ratio Rank: 50
SCRD Omega Ratio Rank: 47
SCRD Calmar Ratio Rank: 45
SCRD Martin Ratio Rank: 47

MILK

MILK Risk / Return Rank: 52
MILK Sharpe Ratio Rank: 53
MILK Sortino Ratio Rank: 55
MILK Omega Ratio Rank: 51
MILK Calmar Ratio Rank: 50
MILK Martin Ratio Rank: 53

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.

SCRD vs. MILK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Corporate Bond ETF (SCRD) and Pacer US Cash Cows Bond ETF (MILK). 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.

	SCRD	MILK	Difference
Sharpe ratio: Return per unit of total volatility	1.62	1.78	-0.16
Sortino ratio: Return per unit of downside risk	2.41	2.59	-0.17
Omega ratio: Gain probability vs. loss probability	1.29	1.32	-0.02
Calmar ratio: Return relative to maximum drawdown	2.19	2.47	-0.28
Martin ratio: Return relative to average drawdown	7.63	8.90	-1.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SCRD vs. MILK - Sharpe Ratio Comparison

The current SCRD Sharpe Ratio is 1.62, which is comparable to the MILK Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of SCRD and MILK, 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

	SCRD	MILK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.62	1.78	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	0.97	-0.95

Drawdowns

SCRD vs. MILK - Drawdown Comparison

The maximum SCRD drawdown since its inception was -21.17%, which is greater than MILK's maximum drawdown of -6.16%. Use the drawdown chart below to compare losses from any high point for SCRD and MILK.

Drawdown Indicators

	SCRD	MILK	Difference
Max Drawdown Largest peak-to-trough decline	-21.17%	-6.16%	-15.01%
Max Drawdown (1Y) Largest decline over 1 year	-2.87%	-3.75%	+0.88%
Max Drawdown (3Y) Largest decline over 3 years	-6.84%	—	—
Current Drawdown Current decline from peak	-0.97%	-0.24%	-0.73%
Average Drawdown Average peak-to-trough decline	-8.77%	-1.09%	-7.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.82%	1.04%	-0.22%

Volatility

SCRD vs. MILK - Volatility Comparison

The current volatility for Janus Henderson Corporate Bond ETF (SCRD) is 1.25%, while Pacer US Cash Cows Bond ETF (MILK) has a volatility of 1.58%. This indicates that SCRD experiences smaller price fluctuations and is considered to be less risky than MILK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCRD	MILK	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.25%	1.58%	-0.33%
Volatility (6M) Calculated over the trailing 6-month period	2.78%	3.78%	-1.00%
Volatility (1Y) Calculated over the trailing 1-year period	3.88%	5.21%	-1.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.32%	6.69%	-0.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.32%	6.69%	-0.37%

SCRD vs. MILK - Expense Ratio Comparison

SCRD has a 0.35% expense ratio, which is lower than MILK's 0.49% expense ratio.

Dividends

SCRD vs. MILK - Dividend Comparison

SCRD's dividend yield for the trailing twelve months is around 5.44%, less than MILK's 7.04% yield.

Position	TTM	2025	2024	2023	2022	2021
MILK Pacer US Cash Cows Bond ETF	7.04%	6.97%	0.00%	0.00%	0.00%	0.00%
SCRD Janus Henderson Corporate Bond ETF	5.44%	5.28%	5.36%	3.99%	2.77%	0.83%

Frequently Asked Questions

Can I hold both SCRD and MILK in my portfolio?

With a correlation of 0.92, SCRD and MILK 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.

Which is riskier, SCRD or MILK?

MILK has higher volatility (1.58%) compared to SCRD (1.25%). In terms of maximum drawdown, SCRD dropped -21.17% vs MILK's -6.16%.

Which ETF is better, SCRD or MILK?

On 1-year performance, MILK leads with 9.23% vs 6.25% for SCRD. On fees, SCRD is cheaper at 0.35% per year. On volatility, SCRD has been the lower-risk option at 1.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCRD or MILK?

Over the 1-year period, MILK has performed better with a 9.23% return vs 6.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCRD or MILK?

SCRD is cheaper with a 0.35% expense ratio, compared with 0.49% for MILK.

Which ETF pays a higher dividend yield, SCRD or MILK?

MILK has the higher dividend yield at 7.04%, compared with 5.44% for SCRD.

What is the main difference between SCRD and MILK?

They also come from different issuers: Janus Henderson and Pacer. Their fees differ too: 0.35% for SCRD and 0.49% for MILK.

Which has better risk-adjusted returns?

MILK currently has the higher Sharpe Ratio (1.78 vs 1.62), 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.