Data as of Oct 28, 2026.
GIGB vs UCON: Differences, Returns & Fees
On Aug 31, 2026 GIGB's duration was 6.5 years and UCON's 4.6; GIGB charges 0.08% to UCON's 0.86%.
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Net assets on Oct 27, 2026: $1.0bn for Goldman Sachs Access Investment Grade Corporate Bond ETF and $3.1bn for First Trust Smith Unconstrained Bond ETF.
Pair scorecard
GIGB costs 0.78 points a year less; their one-year returns differ by 1.0 point; UCON is 3.1 times larger.
| Measure | GIGB | UCON |
|---|---|---|
| Return | ||
| Total return, 1 year | −1.9% | −0.9% |
| Benchmark | ||
| What it tracks | FTSE Goldman Sachs Investment Grade Corporate Bond Index | No index, actively managed |
| Cost and size | ||
| Expense ratio | 0.08% | 0.86% |
| Net assets, as of Oct 27, 2026 | $1.0bn | $3.1bn |
| Holdings | ||
| Holdings in common | 1% | |
Holdings in common uses holdings dated Aug 31, 2026. Method
Risk and return
Jun 15, 2018 to Oct 23, 2026 · 436 weekly returns · each against AGGUCON returned more: +30.9% to +23.5%. UCON swung less: 6.1% to 9.8%. UCON fell less at its worst: −15.0% to −22.0%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | GIGB | UCON | AGG | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +23.5% | +30.9% | UCON | Price change plus distributions, reinvested. | |
| Annualized | +2.5% | +3.3% | UCON | Total return as a yearly rate. | |
| Price return | −8.2% | −4.7% | UCON | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 9.8% | 6.1% | UCON | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 6.9% | 4.7% | UCON | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −22.0% | −15.0% | UCON | Deepest fall from a high to the low after it. | |
| Upside capture | 133.3% | 59.1% | 100.0% | GIGB | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 121.3% | 49.8% | 100.0% | UCON | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 1.45 | 0.71 | 1.00 | UCON lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.68 | 0.42 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 0.02 | 0.10 | UCON | Return above Treasury bills per unit of volatility. | |
| Sortino | 0.03 | 0.13 | UCON | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.001 | 0.009 | −0.009 | UCON | Return above Treasury bills per unit of beta. |
| Calmar | 0.12 | 0.22 | UCON | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | AGG | AGG | AGG | The ETF each fund is measured against. | |
| Alpha | +1.5% a year | +1.3% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.78 | 0.78 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −2.3% to +5.3% | −1.9% to +4.4% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | 0.18 | 0.31 | UCON | Return against its benchmark per unit of tracking error. | |
| Tracking error | 6.1% | 4.9% | 0.0% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 436 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, GIGB and UCON hold 1% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026.
half
1% in common
Only in one fund ↓
Side by side
GIGB and UCON on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
GIGB and UCON are built for the same job. How do they differ in cost, holdings and results?
- What each follows. GIGB follows FTSE Goldman Sachs Investment Grade Corporate Bond Index and UCON follows No index, actively managed.
- Holdings in common. 1% of the weight is in the same securities (holdings dated Aug 31, 2026).
- Number of holdings. GIGB holds 2,619 positions and UCON holds 456.
Data as of Oct 28, 2026.
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GIGB
GIGB tracks an index. Over the year to Oct 28, 2026 it returned −1.9% with distributions reinvested, against −1.4% for its benchmark, the Bloomberg U.S. Aggregate Bond Index. The prospectus expense ratio is 0.08% a year.
UCON
UCON is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned −0.9% with distributions reinvested, against −1.4% for its benchmark, the Bloomberg U.S. Aggregate Bond Index. The prospectus expense ratio is 0.86% a year.
Questions people ask
- Which returned more over the last year, GIGB or UCON?
- In the year to Oct 28, 2026, with distributions reinvested, GIGB returned −1.9% and UCON −0.9%.
- Which is cheaper, GIGB or UCON?
- GIGB is cheaper, by 0.78 percentage points a year. That is about $78 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, GIGB against UCON, data as of Oct 28, 2026. https://etfiq.com/compare/any/gigb-vs-ucon
ETFIQ. (Oct 28, 2026). GIGB against UCON. Retrieved from https://etfiq.com/compare/any/gigb-vs-ucon
[GIGB against UCON (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/gigb-vs-ucon)
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