USIG vs. FEIG
USIG (iShares Broad USD Investment Grade Corporate Bond ETF) and FEIG (FlexShares ESG & Climate Investment Grade Corporate Core Index Fund) are both Corporate Bonds funds - USIG tracks the ICE BofA US Corporate while FEIG tracks the Northern Trust ESG & Climate Investment Grade U.S. Corporate Core TR. Both are passively managed. Over the past 3 years, USIG returned 5.45%/yr vs 4.96%/yr for FEIG. With a 0.98 correlation, they move nearly in lockstep. USIG charges 0.04%/yr vs 0.12%/yr for FEIG.
Performance
USIG vs. FEIG - Performance Comparison
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Returns By Period
In the year-to-date period, USIG achieves a 0.83% return, which is significantly higher than FEIG's 0.68% return.
USIG
- 1D
- 0.12%
- 1M
- 0.78%
- YTD
- 0.83%
- 6M
- 0.89%
- 1Y
- 5.21%
- 3Y*
- 5.45%
- 5Y*
- 0.58%
- 10Y*
- 2.58%
FEIG
- 1D
- 0.16%
- 1M
- 0.73%
- YTD
- 0.68%
- 6M
- 0.82%
- 1Y
- 4.85%
- 3Y*
- 4.96%
- 5Y*
- —
- 10Y*
- —
USIG vs. FEIG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
USIG iShares Broad USD Investment Grade Corporate Bond ETF | 0.83% | 7.86% | 2.56% | 8.71% | -15.30% | -1.55% |
FEIG FlexShares ESG & Climate Investment Grade Corporate Core Index Fund | 0.68% | 7.31% | 1.75% | 8.57% | -15.91% | -1.54% |
Correlation
The correlation between USIG and FEIG is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2021 | 0.98 |
The correlation between USIG and FEIG has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.
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Return for Risk
USIG vs. FEIG — Risk / Return Rank
USIG
FEIG
USIG vs. FEIG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Broad USD Investment Grade Corporate Bond ETF (USIG) and FlexShares ESG & Climate Investment Grade Corporate Core Index Fund (FEIG). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| USIG | FEIG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.20 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.87 | 1.74 | +0.14 |
| Martin ratioReturn relative to average drawdown | 5.95 | 5.15 | +0.79 |
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Drawdowns
USIG vs. FEIG - Drawdown Comparison
The maximum USIG drawdown since its inception was -22.21%, roughly equal to the maximum FEIG drawdown of -22.26%. Use the drawdown chart below to compare losses from any high point for USIG and FEIG.
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Drawdown Indicators
| USIG | FEIG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.21% | -22.26% | +0.05% |
Max Drawdown (1Y)Largest decline over 1 year | -2.79% | -2.81% | +0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -6.10% | -6.67% | +0.57% |
Max Drawdown (5Y)Largest decline over 5 years | -21.45% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -21.45% | — | — |
Current DrawdownCurrent decline from peak | -0.70% | -1.36% | +0.66% |
Average DrawdownAverage peak-to-trough decline | -3.41% | -9.42% | +6.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 0.94% | -0.06% |
Volatility
USIG vs. FEIG - Volatility Comparison
iShares Broad USD Investment Grade Corporate Bond ETF (USIG) and FlexShares ESG & Climate Investment Grade Corporate Core Index Fund (FEIG) have volatilities of 1.14% and 1.20%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USIG | FEIG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 1.20% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.12% | 3.35% | -0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.10% | 4.39% | -0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.82% | 7.37% | -0.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.83% | 7.37% | -0.54% |
USIG vs. FEIG - Expense Ratio Comparison
USIG has a 0.04% expense ratio, which is lower than FEIG's 0.12% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
USIG vs. FEIG - Dividend Comparison
USIG's dividend yield for the trailing twelve months is around 4.73%, which matches FEIG's 4.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FEIG FlexShares ESG & Climate Investment Grade Corporate Core Index Fund | 4.74% | 4.84% | 4.65% | 4.21% | 2.99% | 0.55% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USIG iShares Broad USD Investment Grade Corporate Bond ETF | 4.73% | 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
With a correlation of 0.97, USIG and FEIG 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.
FEIG has higher volatility (1.20%) compared to USIG (1.14%). In terms of maximum drawdown, USIG dropped -22.21% vs FEIG's -22.26%.
On 3-year performance, USIG leads with 5.45% vs 4.96% for FEIG. On fees, USIG is cheaper at 0.04% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, USIG has performed better with a 5.45% return vs 4.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USIG is cheaper with a 0.04% expense ratio, compared with 0.12% for FEIG.
USIG and FEIG have nearly identical dividend yields, around 4.73%.
USIG tracks ICE BofA US Corporate, while FEIG tracks Northern Trust ESG & Climate Investment Grade U.S. Corporate Core TR. They also come from different issuers: iShares and FlexShares. Their fees differ too: 0.04% for USIG and 0.12% for FEIG.
USIG currently has the higher Sharpe Ratio (1.28 vs 1.11), 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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