GBF vs PAI

Comparison between ISHARES GOVERNMENT/CREDIT BOND ETF (GBF, ETF) and Western Asset Investment Grade Income Fund Inc (PAI, ETF).

5-Year PerformancePAI has outperformed GBF, delivering a return of -0.4% compared to -0.7%

GBF vs PAI - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	GBF(ETF)	PAI(ETF)
Net Assets	$125M	$125M
Expense Ratio	0.20%	N/A
Max Drawdown	23.43%	45.93%
Sharpe Ratio	-0.20	-0.71
5Y Beta	0.03	0.22
5Y Dividends CAGR	19.07%	3.72%

Net Assets

GBF

$125M

Winner

PAI

$125M

Expense Ratio

GBF

0.20%

PAI

N/A

Max Drawdown

Winner

GBF

23.43%

PAI

45.93%

Sharpe Ratio

Winner

GBF

-0.20

PAI

-0.71

5Y Beta

Winner

GBF

0.03

PAI

0.22

5Y Dividends CAGR

Winner

GBF

19.07%

PAI

3.72%

GBF vs PAI - Historical Returns

Returns include dividend reinvestment.

Period	GBF	PAI
1 month	-0.56%	-0.48%
3 months	-0.86%	-0.79%
6 months	-0.42%	-2.15%
1 year	+2.73%	-1.15%
5 years(CAGR)	-0.65%	-0.44%
10 years(CAGR)	+1.26%	+2.81%
Max(CAGR)	+2.98%	+6.00%

GBF

-0.56%

Winner

PAI

-0.48%

GBF

-0.86%

Winner

PAI

-0.79%

Winner

GBF

-0.42%

PAI

-2.15%

Winner

GBF

+2.73%

PAI

-1.15%

5Y(CAGR)

GBF

-0.65%

Winner

PAI

-0.44%

10Y(CAGR)

GBF

+1.26%

Winner

PAI

+2.81%

Max(CAGR)

GBF

+2.98%

Winner

PAI

+6.00%

GBF vs PAI - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	GBF	PAI
2026	-0.35%	-1.84%
2025	+6.30%	+7.09%
2024	+1.42%	+9.44%
2023	+5.13%	+7.42%
2022	-13.13%	-21.03%
2021	-2.07%	+1.88%
2020	+8.44%	+6.17%
2019	+9.34%	+20.23%
2018	-0.15%	-11.78%
2017	+3.83%	+16.74%
2016	+2.25%	+15.58%
2015	-0.28%	+1.70%
2014	+6.05%	+7.73%
2013	-2.09%	-7.43%
2012	+4.13%	+12.40%
2011	+9.44%	+13.11%
2010	+5.44%	+6.63%
2009	+3.45%	+29.99%
2008	+6.81%	-16.92%
2007	+6.69%	-5.46%
2006	N/A	+16.18%
2005	N/A	-0.98%
2004	N/A	+10.46%
2003	N/A	+15.49%
2002	N/A	+6.03%
2001	N/A	+14.94%
2000	N/A	+25.82%
1999	N/A	-2.13%

GBF vs PAI Drawdown Comparison

The maximum drawdown for GBF was -19.67%, occurring on Oct 24, 2022. This drawdown has not yet recovered.

The maximum drawdown for PAI was -38.96%, occurring on Nov 24, 2008. Recovery took 575 trading sessions.

The current GBF drawdown is -5.31%. The current PAI drawdown is -11.83%.

Rank	GBF	PAI
#1	-19.67% Aug 4, 2020 - Oct 24, 2022	-38.96% Jun 1, 2007 - Sep 11, 2009
#2	-8.75% Sep 9, 2008 - Dec 2, 2008	-33.71% Dec 2, 2021 - Oct 20, 2022
#3	-7.97% Mar 9, 2020 - Jun 26, 2020	-30.98% Nov 15, 2019 - Jul 15, 2020
#4	-6.12% May 2, 2013 - Jul 23, 2014	-22.02% Nov 26, 2012 - Apr 22, 2016
#5	-5.85% Dec 29, 2008 - Jul 31, 2009	-19.82% Sep 28, 2017 - Jun 11, 2019
#6	-5.20% Jul 8, 2016 - Sep 5, 2017	-13.79% May 24, 2010 - Sep 1, 2011
#7	-4.35% Oct 6, 2010 - Jun 1, 2011	-13.48% Aug 30, 2016 - Jun 19, 2017
#8	-3.90% Sep 7, 2017 - Feb 7, 2019	-10.99% Mar 17, 2004 - Sep 15, 2004
#9	-3.73% Jan 30, 2015 - Feb 11, 2016	-9.79% Nov 9, 2012 - Nov 21, 2012
#10	-2.81% Apr 9, 2008 - Sep 4, 2008	-9.55% Sep 28, 2020 - Aug 20, 2021
#11	-2.75% May 7, 2007 - Aug 16, 2007	-9.15% Sep 24, 2002 - Dec 16, 2002
#12	-2.58% Sep 4, 2019 - Jan 23, 2020	-8.91% Jun 20, 2003 - Nov 20, 2003
#13	-2.00% Nov 12, 2012 - Apr 15, 2013	-8.83% Sep 30, 2009 - Mar 17, 2010
#14	-1.98% Jul 24, 2012 - Nov 7, 2012	-8.29% Sep 15, 2021 - Nov 19, 2021
#15	-1.86% Nov 30, 2009 - Mar 2, 2010	-8.08% Feb 10, 2005 - Jun 30, 2005

Correlation

Correlation between GBF and PAI is 0.97 which considered as a very strong positive correlation - the stocks move almost identically together.

0.97

-101

Dividend Comparison (1999 - 2026)

GBF vs PAI dividend yield comparison.

Year	GBF	PAI
2026	1.90%	2.19%
2025	3.81%	5.45%
2024	3.94%	4.83%
2023	3.03%	4.67%
2022	2.13%	4.82%
2021	1.22%	3.57%
2020	1.64%	3.82%
2019	2.64%	4.43%
2018	2.59%	5.23%
2017	2.31%	4.36%
2016	2.09%	4.82%
2015	2.04%	5.30%
2014	2.08%	5.13%
2013	2.37%	5.24%
2012	2.53%	4.84%
2011	3.03%	5.39%
2010	3.19%	6.13%
2009	3.56%	7.37%
2008	4.17%	9.37%
2007	4.67%	8.28%
2006	0.00%	5.59%
2005	0.00%	7.58%
2004	0.00%	9.41%
2003	0.00%	6.38%
2002	0.00%	6.97%
2001	0.00%	7.28%
2000	0.00%	8.00%
1999	0.00%	2.10%