SPXB vs. MILK

Last updated Jun 4, 2026

SPXB (ProShares S&P 500 Bond ETF) and MILK (Pacer US Cash Cows Bond ETF) are both Corporate Bonds funds - SPXB tracks the S&P 500 MarketAxess Investment Grade Corporate Bond Index while MILK tracks the Solactive Pacer US Cash Cows Bond Index. Both are passively managed. SPXB charges 0.15%/yr vs 0.49%/yr for MILK.

Performance

SPXB vs. MILK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares S&P 500 Bond ETF (SPXB) and Pacer US Cash Cows Bond ETF (MILK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SPXB

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 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)

SPXB vs. MILK - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SPXB ProShares S&P 500 Bond ETF	0.00%	0.00%	0.00%
MILK Pacer US Cash Cows Bond ETF	2.18%	7.49%	-0.35%

Return for Risk

SPXB vs. MILK — Risk / Return Rank

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

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.

SPXB vs. MILK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares S&P 500 Bond ETF (SPXB) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SPXB	MILK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.97	—

Drawdowns

Drawdown Indicators

	SPXB	MILK	Difference
Max Drawdown Largest peak-to-trough decline	—	-6.16%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-3.75%	—
Current Drawdown Current decline from peak	—	-0.24%	—
Average Drawdown Average peak-to-trough decline	—	-1.09%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.04%	—

Volatility

Volatility by Period

	SPXB	MILK	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.58%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.78%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	5.21%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	6.69%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	6.69%	—

SPXB vs. MILK - Expense Ratio Comparison

SPXB has a 0.15% expense ratio, which is lower than MILK's 0.49% expense ratio.

Dividends

SPXB vs. MILK - Dividend Comparison

SPXB has not paid dividends to shareholders, while MILK's dividend yield for the trailing twelve months is around 7.04%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
MILK Pacer US Cash Cows Bond ETF	7.04%	6.97%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPXB ProShares S&P 500 Bond ETF	0.00%	0.00%	1.22%	4.04%	3.14%	2.00%	2.64%	3.48%	2.52%

Frequently Asked Questions

Which ETF is better, SPXB or MILK?

On fees, SPXB is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPXB or MILK?

SPXB is cheaper with a 0.15% expense ratio, compared with 0.49% for MILK.

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

MILK has the higher dividend yield at 7.04%, compared with 0.00% for SPXB.

What is the main difference between SPXB and MILK?

SPXB tracks S&P 500 MarketAxess Investment Grade Corporate Bond Index, while MILK tracks Solactive Pacer US Cash Cows Bond Index. They also come from different issuers: ProShares and Pacer. Their fees differ too: 0.15% for SPXB and 0.49% for MILK.