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IUSB vs PIFI

iShares Core Universal USD Bond ETF

IUSBANasdaq

ClearShares Piton Intermediate Fixed Income ETF

PIFICNYSE Arca

Overlap

No data

Expense ratio

IUSB −0.39pt a year

IUSB0.06%PIFI0.45%

Avg volume · 30D

IUSB 3439.5×the volume

IUSB6.13MPIFI1.78K

5Y return · a year

PIFI +0.9pt

IUSB+0.2%PIFI+1.1%

IUSB vs PIFI Performance

Oct 29, 2021 – Oct 30, 2026

+0.9%IUSB+5.6%PIFI

Oct 29, 2021 to Oct 30, 2026. IUSB +0.9%. PIFI +5.6%. Use the arrow keys to read each point.−15%−10%−5%Oct 2021Apr 2024Oct 2026
Expense ratio
IUSB 0.06%, better
PIFI 0.45%
Fund size
IUSB $50.2B
PIFI $97M
1Y total return
IUSB 0.0%
PIFI +0.5%, better
Yield (12M)
IUSB 4.32%, better
PIFI 3.56%
Holdings
IUSB 18280
PIFI 56
Avg volume (30D)
IUSB 6.13M sh, better
PIFI 1.78K sh
NAV per share
IUSB $44.91
PIFI $92.01
52W range

ETF.net Grade

IUSB: Cost 92, Risk 54, Mission 100, Tradability 89, Holdings 76, Durability 94. PIFI: Cost 24, Risk 54, Mission 87, Tradability 17, Holdings 32, Durability 43.
Pillar letters and Scores for IUSB, PIFI, with each pillar’s weight
PillarIUSBPIFI
Cost30% weightA92HigherF24
Mission25% weightA100HigherA87
Risk15% weightC54C54
Tradability15% weightA89HigherF17
Holdings10% weightA76HigherD32
Durability5% weightA94HigherC43

Rank among US Aggregate Bond funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. IUSB and PIFI are both graded against the same 114 US Aggregate Bond funds, so their Grades compare head to head.

US Aggregate Bond⁠

Category · 114 funds
See all 114 ›

IUSB ranks 2nd and PIFI 91st of 114 funds in the US Aggregate Bond Category.

  1. Rank 1AAGGiShares Core U.S. Aggregate Bond ETFScore 87
  2. Rank 2AIUSBiShares Core Universal USD Bond ETFScore 86
  3. Rank 2ASCHZSchwab U.S. Aggregate Bond ETFScore 86
  4. Rank 91CDYNBHartford Dynamic Bond ETFScore 44
  5. Rank 91CPIFIClearShares Piton Intermediate Fixed Income ETFScore 44
  6. Rank 93CAGGHSimplify Aggregate Bond ETFScore 42

Our read on each fund

ETF.net Research

IUSBAiShares Core Universal USD Bond ETF

PIFICClearShares Piton Intermediate Fixed Income ETF

In short

IUSB Most core bond funds stop at investment grade. IUSB keeps going, folding high-yield USD debt into the same wrapper across roughly 18,000 bonds, for 0.06% a year.

PIFI Active management in a corner of the bond market owned by index trackers. A manager picks the bonds here, chasing current income with capital preservation and a three- to ten-year average maturity, instead of cloning the Agg.

Stated mandate

IUSB The Fund seeks to track an index of U.S.-dollar-denominated bonds spanning investment-grade and high-yield sectors.

PIFI The Fund seeks current income while preserving capital over the long term. It is actively managed and invests at least 80% of assets in debt securities or economically similar instruments, generally maintaining a three- to ten-year dollar-weighted average maturity.

Why people hold it

  • IUSB 0.06% a year, a fraction of what the typical broad bond fund in its category charges, and iShares has run it since 2014.
  • Roughly 18,000 bonds spanning investment-grade and high-yield sectors, so one ticker covers ground a plain Agg tracker leaves on the table.ishares.com
  • Tracks its index closely, trades heavily, and sits on a multi-billion-dollar asset base. Income is paid monthly.
  • Among the strongest implementations in a crowded field of nearly 200 core bond funds.
  • PIFI Truly active, not index-shadowing: at least 80% in debt securities, a three- to ten-year average maturity, and a manager making the calls.
  • The portfolio matches the mandate on paper: US debt, intermediate maturities, no style drift into places the prospectus never mentioned.
  • Income is the stated job, and the fund pays on a quarterly schedule.
  • Live since 2020, so there is a real multi-year record to inspect rather than a backtest.

Worth knowing

  • IUSB That high-yield sleeve is the trade-off: more credit risk than an investment-grade-only fund, and more movement when spreads widen.
  • BND, SPAB and SCHZ charge 0.03%, half IUSB's fee, but they stay inside investment grade.
  • Payouts land monthly, but the amount floats with the coupons underneath. Nothing about the income stream is fixed.
  • PIFI 0.45% a year, above the intermediate-bond median of 0.36% and miles past the 0.03% charged by BND, SPAB and SCHZ. Active judgment is what you are paying for.
  • Thinly traded. Spreads can widen, so limit orders matter more here than with the index behemoths.
  • A boutique fund with a modest asset base, without the scale cushion of the Vanguard and Schwab giants in its cohort.

Full IUSB profile⁠

Full PIFI profile⁠

IUSB vs PIFI Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

IUSB vs PIFI Cost

Overpaying PIFI vs IUSB

$7,771

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • IUSB 0.06%

    $1,270

  • PIFI 0.45%

    $9,041

$10,000
30 years

Cost over time

  • IUSB 0.06%
  • PIFI 0.45%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530PIFI $9,041IUSB $1,270

Year by year

YearIUSBPIFIOverpaying
10$110$812$702
20$432$3,128$2,696
30$1,270$9,041$7,771

Expense ratio

  • 0.06%IUSB, cheaper
  • 0.45%PIFI
  • Middle half of US Aggregate Bond funds
  • Median 0.34%

IUSB 10th cheapest of 114 funds

PIFI 84th cheapest of 114 funds

IUSB vs PIFI Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
IUSB 4.32%, better
PIFI 3.56%
Payout (12M)
IUSB $1.94
PIFI $3.28
Last payment
IUSB $0.15
PIFI $0.86
Ex-dividend
IUSB Oct 1, 2026
PIFI Sep 29, 2026
Paid on
IUSB Oct 6, 2026
PIFI Sep 30, 2026
Frequency
IUSB Monthly
PIFI Quarterly

Distribution history

Per share, 2023 to 2026, same scale for both

IUSBMonthly · 45 paymentsAll IUSB payments⁠
One bar per payment. 45 payments from 2023 to 2026 YTD. Feb 1, 2023 $0.12; Mar 1, 2023 $0.12; Apr 3, 2023 $0.12; May 1, 2023 $0.13; Jun 1, 2023 $0.14; Jul 3, 2023 $0.13; Aug 1, 2023 $0.14; Sep 1, 2023 $0.13; Oct 2, 2023 $0.13; Nov 1, 2023 $0.14; Dec 1, 2023 $0.14; Dec 14, 2023 $0.15; Feb 1, 2024 $0.13; Mar 1, 2024 $0.15; Apr 1, 2024 $0.15; May 1, 2024 $0.15; Jun 3, 2024 $0.15; Jul 1, 2024 $0.15; Aug 1, 2024 $0.16; Sep 3, 2024 $0.16; Oct 1, 2024 $0.15; Nov 1, 2024 $0.16; Dec 2, 2024 $0.16; Dec 18, 2024 $0.16; Feb 3, 2025 $0.15; Mar 3, 2025 $0.16; Apr 1, 2025 $0.16; May 1, 2025 $0.16; Jun 2, 2025 $0.17; Jul 1, 2025 $0.16; Aug 1, 2025 $0.17; Sep 2, 2025 $0.16; Oct 1, 2025 $0.17; Nov 3, 2025 $0.16; Dec 1, 2025 $0.16; Dec 19, 2025 $0.16; Feb 2, 2026 $0.17; Mar 2, 2026 $0.16; Apr 1, 2026 $0.16; May 1, 2026 $0.16; Jun 1, 2026 $0.15; Jul 1, 2026 $0.16; Aug 3, 2026 $0.17; Sep 1, 2026 $0.17; Oct 1, 2026 $0.15. Use the arrow keys to read each point.$0$220232026YTD
PIFIQuarterly · 15 paymentsAll PIFI payments⁠
One bar per payment. 15 payments from 2023 to 2026 YTD. Mar 29, 2023 $0.37; Jun 28, 2023 $0.17; Sep 27, 2023 $0.93; Dec 27, 2023 $0.65; Mar 26, 2024 $0.56; Jun 27, 2024 $0.19; Sep 27, 2024 $0.69; Dec 30, 2024 $1.25; Mar 28, 2025 $0.20; Jun 27, 2025 $0.21; Sep 29, 2025 $1.75; Dec 30, 2025 $0.83; Mar 30, 2026 $0.73; Jun 29, 2026 $0.85; Sep 29, 2026 $0.86. Use the arrow keys to read each point.$0$220232026YTD

IUSB vs PIFI Risk

Fall from peak · 5 years

  • IUSB
  • PIFI
Oct 29, 2021 to Oct 30, 2026. Worst fall: IUSB −17.4% · Oct 2022. Use the arrow keys to read each point.−15%−10%−5%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
IUSB 5.5%PIFI 3.5%, better
Return per unit of riskSharpe ratio, 3 years
IUSB 0.25, betterPIFI −0.02
Worst fallMax drawdown, 5 years
IUSB −17.4%PIFI −9.8%, better
Market sensitivityBeta, 5 years
IUSB 0.96PIFI 0.57

IUSB and PIFI in the news

All news⁠

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