USIG vs. SPIB
USIG (iShares Broad USD Investment Grade Corporate Bond ETF) and SPIB (SPDR Portfolio Intermediate Term Corporate Bond ETF) are both Corporate Bonds funds - USIG tracks the ICE BofA US Corporate while SPIB tracks the Bloomberg US Aggregate Credit - Corporate - Investment Grade - Intermediate. Both are passively managed. Over the past 10 years, USIG returned 2.65%/yr vs 2.88%/yr for SPIB. A 0.79 correlation means they provide meaningful diversification when combined. USIG charges 0.04%/yr vs 0.07%/yr for SPIB.
Performance
USIG vs. SPIB - Performance Comparison
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Returns By Period
In the year-to-date period, USIG achieves a 0.73% return, which is significantly higher than SPIB's 0.58% return. Over the past 10 years, USIG has underperformed SPIB with an annualized return of 2.65%, while SPIB has yielded a comparatively higher 2.88% annualized return.
USIG
- 1D
- 0.18%
- 1M
- 0.46%
- YTD
- 0.73%
- 6M
- 0.73%
- 1Y
- 5.58%
- 3Y*
- 5.58%
- 5Y*
- 0.75%
- 10Y*
- 2.65%
SPIB
- 1D
- 0.12%
- 1M
- 0.31%
- YTD
- 0.58%
- 6M
- 0.83%
- 1Y
- 5.05%
- 3Y*
- 5.84%
- 5Y*
- 1.82%
- 10Y*
- 2.88%
USIG vs. SPIB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USIG iShares Broad USD Investment Grade Corporate Bond ETF | 0.73% | 7.86% | 2.56% | 8.71% | -15.30% | -1.34% | 9.44% | 13.99% | -2.21% | 5.75% |
SPIB SPDR Portfolio Intermediate Term Corporate Bond ETF | 0.58% | 7.91% | 4.28% | 7.27% | -9.65% | -1.24% | 7.69% | 10.23% | -0.49% | 3.76% |
Correlation
The correlation between USIG and SPIB is 0.95 - 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 | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Feb 23, 2009 | 0.79 |
The correlation between USIG and SPIB shifts across timeframes, from 0.79 (all time) to 0.96 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
USIG vs. SPIB — Risk / Return Rank
USIG
SPIB
USIG vs. SPIB - 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 SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB). 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.
| USIG | SPIB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | -0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.33 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | 2.51 | -0.50 |
| Martin ratioReturn relative to average drawdown | 6.53 | 8.74 | -2.21 |
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
| USIG | SPIB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.37 | 1.80 | -0.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | 0.41 | -0.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | 0.63 | -0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.88 | -0.34 |
Drawdowns
USIG vs. SPIB - Drawdown Comparison
The maximum USIG drawdown since its inception was -22.21%, which is greater than SPIB's maximum drawdown of -14.94%. Use the drawdown chart below to compare losses from any high point for USIG and SPIB.
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Drawdown Indicators
| USIG | SPIB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.21% | -14.94% | -7.27% |
Max Drawdown (1Y)Largest decline over 1 year | -2.79% | -2.02% | -0.77% |
Max Drawdown (3Y)Largest decline over 3 years | -6.10% | -3.18% | -2.92% |
Max Drawdown (5Y)Largest decline over 5 years | -21.45% | -14.80% | -6.65% |
Max Drawdown (10Y)Largest decline over 10 years | -21.45% | -14.94% | -6.51% |
Current DrawdownCurrent decline from peak | -0.79% | -0.66% | -0.13% |
Average DrawdownAverage peak-to-trough decline | -3.42% | -1.89% | -1.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 0.58% | +0.28% |
Volatility
USIG vs. SPIB - Volatility Comparison
iShares Broad USD Investment Grade Corporate Bond ETF (USIG) has a higher volatility of 1.25% compared to SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) at 0.93%. This indicates that USIG's price experiences larger fluctuations and is considered to be riskier than SPIB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USIG | SPIB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.25% | 0.93% | +0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 3.04% | 2.09% | +0.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.13% | 2.83% | +1.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.82% | 4.47% | +2.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.82% | 4.60% | +2.22% |
USIG vs. SPIB - Expense Ratio Comparison
USIG has a 0.04% expense ratio, which is lower than SPIB's 0.07% 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. SPIB - Dividend Comparison
USIG's dividend yield for the trailing twelve months is around 4.73%, more than SPIB's 4.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPIB SPDR Portfolio Intermediate Term Corporate Bond ETF | 4.45% | 4.42% | 4.41% | 3.84% | 2.65% | 1.58% | 2.18% | 3.03% | 3.04% | 2.79% | 2.68% | 2.69% |
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 0.95, USIG and SPIB 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.
USIG has higher volatility (1.25%) compared to SPIB (0.93%). In terms of maximum drawdown, USIG dropped -22.21% vs SPIB's -14.94%.
On 10-year performance, SPIB leads with 2.88% vs 2.65% for USIG. On fees, USIG is cheaper at 0.04% per year. On volatility, SPIB has been the lower-risk option at 0.93%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPIB has performed better with a 2.88% return vs 2.65%. 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 0.07% for SPIB.
USIG has the higher dividend yield at 4.73%, compared with 4.45% for SPIB.
USIG tracks ICE BofA US Corporate, while SPIB tracks Bloomberg US Aggregate Credit - Corporate - Investment Grade - Intermediate. They also come from different issuers: iShares and State Street. Their fees differ too: 0.04% for USIG and 0.07% for SPIB.
SPIB currently has the higher Sharpe Ratio (1.80 vs 1.37), 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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