At a glance
MIG charges 0.2% a year, above the 0.07% average of the 7 funds most like it (the 7th cheapest of 8). It has $19.3M in assets, the 8th largest of that group; it paid 4.78% of its price in distributions over the past 12 months, monthly. Over the past year it returned −2.5% with distributions reinvested, the weakest of those 8 funds; over three years it returned +6.3% a year. At its worst it fell 18.1% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 23 months after the low. Its ten largest positions make up 9.7% of the fund, out of 364 in all.
The short version
VanEck Moody's Analytics IG Corporate Bond ETF (MIG) tracks the MVIS Moody's Analytics US Investment Grade Corporate Bond Index, made up of US-dollar corporate bonds with investment-grade (higher-quality) ratings. Moody's Analytics credit models steer it toward attractively valued bonds and away from those likeliest to fall below investment grade. The trade-offs: a 0.20% annual fee versus a 0.07% average for similar funds, and only $19.3 million in assets as of July 31, 2026.
Price history
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MIG -2.5% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| MIG official prospectus, to Dec 31, 2025 | — | +7.31% | — | +0.89% | — | — |
| MIG price data to Oct 27, 2026 | -1.6% | -2.5% | +6.3% | +0.3% | — | +0.5% |
- Over the year to Oct 27, 2026, MIG returned -2.5%, 8th of 8 among similar funds.
- Its 5-year annualized return was +0.3%.
- Its worst full calendar year was 2022 (-14.5%); its best was 2023 (+8.8%).
- The deepest fall in its price history was 21% (Sep 22, 2021 to Oct 20, 2022), recovered by Sep 3, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -1.6% | — |
| 2025 | +7.4% | +7.31% |
| 2024 | +3.4% | +3.38% |
| 2023 | +8.8% | +9.01% |
| 2022 | -14.5% | -14.47% |
| 2021 | -0.0% | +0.21% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 18.1% over that stretch · deepest drop along the way 18.1%, back to its old high 23.2 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.7300 | |
| 2025 | $1.0500 | +5.0% |
| 2024 | $1.0000 | +7.5% |
| 2023 | $0.9300 | +45.3% |
| 2022 | $0.6400 | +20.8% |
| 2021 | $0.5300 |
What's inside
As of Jul 31, 2026, the fund held 364 securities; the ten largest made up 9.74% of assets.
| Holding | Weight | |
|---|---|---|
| ALPHABET INC Bonds and notes | 1.35% | |
| META PLATFORMS INC Bonds and notes | 1.34% | |
| MICROSOFT CORP Bonds and notes | 1.16% | |
| MEDLINE BORROWER LP Bonds and notes | 1.00% | |
| TORONTO-DOMINION BANK Bonds and notes | 0.90% | |
| BNP PARIBAS Bonds and notes | 0.89% | |
| ALPHABET INC Bonds and notes | 0.83% | |
| AT&T INC Bonds and notes | 0.80% | |
| PEPSICO INC Bonds and notes | 0.74% | |
| ALTRIA GROUP INC Bonds and notes | 0.72% | |
| VERIZON COMMUNICATIONS Bonds and notes | 0.67% | |
| CITIGROUP INC Bonds and notes | 0.65% | |
| SAUDI ARABIAN OIL CO Bonds and notes | 0.62% | |
| SOCIETE GENERALE Bonds and notes | 0.60% | |
| EQUINIX INC Bonds and notes | 0.60% |
By country
United States 76.08%Canada 9.74%France 6.4%Saudi Arabia 1.21%Italy 0.97%By issuer
Companies 95.1%Other 3.33%The bonds mature in 10.2 years on average (weighted by size), with an average coupon of 4.27%.
Source: N-PORT holdings report as of Jul 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jul 31, 2026, investors added a net $531K (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +0.71%, +0.05%, -1.60%.
How it works
MIG is an index fund that aims to match, before fees, the MVIS Moody's Analytics US Investment Grade Corporate Bond Index rather than beat it. The index includes US-dollar corporate bonds issued in the US market by US and foreign companies. Each needs an investment-grade composite rating, meaning an average of agency ratings lands in the higher-quality tiers. The index provider uses Moody's Analytics credit-risk models to include bonds that look attractively valued and exclude those judged likeliest to fall below investment grade.
The index drops bonds later cut below investment grade at the end of that month, at its next scheduled rebalance. As of June 30, 2026, the index included 544 notes from 127 issuers. About 18% were Rule 144A securities: unregistered bonds sold to large institutions, which can be harder to trade and value. VanEck uses sampling, holding a subset meant to mirror the index's risk and return, with at least 80% of assets in index securities.
As of July 31, 2026, the fund had 364 holdings, an average maturity of 10.2 years and no derivatives. The largest positions, bonds from Alphabet, Meta Platforms and Microsoft, were each under 1.4% of assets. US issuers made up 76%, Canadian 10% and French 6%. Turnover, the share of holdings replaced over a year, was 54%.
What it really costs
- MIG charges 0.2% a year, versus an average of 0.07% for the similar funds below (7th of 8, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $20 in the first year and $255 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| MIG | $20 | $64 | $113 | $255 |
Structure and tax notes
- Bond prices move opposite to interest rates; the longer the maturities it holds, the more its price reacts to rate changes.
In a retirement portfolio
It pays monthly from investment-grade corporate bonds, with a 4.78% trailing 12-month yield as of October 27, 2026, though its price moves with interest rates and credit conditions.
MIG could add monthly income from investment-grade (higher-rated) company bonds. Its trailing 12-month yield (the past year's payouts divided by the price) was 4.78% as of October 27, 2026. Its 0.20% expense ratio (annual fee), versus a 0.07% average for similar funds, comes to $20 over one year on $10,000 in the SEC's standard example.
Launched in December 2020, it has no record for the 2008 crisis or 2020 COVID crash. In the 2022 bear market it fell 18.1% between January 3 and October 12, then took about 23 months to recover. Its deepest drop, 21% from September 2021 to October 2022, wasn't erased until September 2025. Its worst calendar year was 2022, down 14.5%. A retiree cashing out in a year like that would have locked in losses. Past results don't predict future ones, and a plan needs to look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Income seekers who want monthly payouts from investment-grade corporate bonds; the trailing 12-month yield was 4.78% as of October 27, 2026.
- Investors who like the idea of Moody's Analytics credit models favoring attractively valued bonds and screening out likely downgrade candidates.
- Investors comfortable with a 10.2-year average maturity (as of July 31, 2026) and foreign issuers such as Toronto-Dominion Bank and BNP Paribas.
Look elsewhere if
- Cost-focused investors: the 0.20% expense ratio ranks 7th of 8 on cost among similar funds; USIG, with a near-identical maturity, charges 0.04%.
- Those wary of very small funds, which sponsors sometimes close: net assets were $19.3 million as of July 31, 2026, the smallest among peers.
- Anyone who may need to cash out in a downturn: it fell 21% from September 2021 to October 2022, not recovering until September 2025.
Close alternatives
Matched by bond funds with the closest average maturity and issuer mix (N-PORT).
| Fund | Avg. maturity | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| MIG this fund | 10.2 yrs | 0.2% | $19.3M | -2.5% | +6.3% |
| USIG iShares Broad USD Investment Grade Corporat… | 10.3 yrs | 0.04% | $17.85B | -0.9% | +5.7% |
| JAAA Janus Henderson AAA CLO ETF | 11.4 yrs | 0.2% | $29.21B | +4.9% | +6.1% |
| IGIB iShares 5-10 Year Investment Grade Corporat… | 8.3 yrs | 0.04% | $18.72B | -1.0% | +6.4% |
| SCHI Schwab 5-10 Year Corporate Bond ETF | 8.1 yrs | 0.03% | $11.60B | -1.8% | +6.9% |
| VCIT Vanguard Intermediate-Term Corporate Bond E… | 8.2 yrs | 0.03% | $72.04B | -0.6% | +7.1% |
| LQD iShares iBoxx $ Investment Grade Corporate … | 13 yrs | 0.14% | $32.04B | -2.3% | +5.2% |
| SPIB SPDR Portfolio Intermediate Term Corporate … | 5.6 yrs | 0.04% | $11.57B | 0.0% | +6.1% |
Questions investors ask
Does MIG pay monthly dividends?
Yes. MIG pays distributions monthly. Over the 12 months to October 27, 2026, it paid about $0.98 per share, a trailing yield of 4.78%. That income comes from interest on the investment-grade corporate bonds it holds, which had an average coupon, or interest rate, of 4.27% as of July 31, 2026. Payouts can change as the fund's holdings and interest rates change.
What's the difference between MIG and USIG?
The main differences are selection, cost and size. Both hold US-dollar investment-grade corporate bonds, with average maturities of 10.2 and 10.3 years, respectively. MIG's index uses Moody's Analytics credit models to favor attractively valued bonds and drop likely downgrades; USIG's name signals a broad approach. MIG charges 0.20% a year versus 0.04%. USIG had $17.8 billion in net assets as of August 31, 2026, versus $19.3 million for MIG as of July 31. MIG lost 2.5% over one year to October 27, 2026; USIG lost 0.6% to October 30.
Is MIG good for retirement income?
It can provide monthly income, but not price stability. Its trailing 12-month yield was 4.78% as of October 27, 2026. In the 2022 bear market it fell 18.1% and needed about 23 months from the October 2022 low to recover. Its 0.20% expense ratio is well above the 0.07% average for similar funds. How it fits depends on the rest of the portfolio and when the money will be needed.
What is MIG's 5-year return?
About 0.89% a year through December 31, 2025, according to the prospectus, and 0.3% a year in price-based returns through October 27, 2026. The fund's 14.47% loss in 2022 weighs on both figures; it returned 7.31% in 2025. Over three years to October 27, 2026, it returned 6.3% a year, ranking 5th of 8 among similar funds, while its 2.5% one-year loss ranked 8th of 8.
What are MIG's top holdings?
As of July 31, 2026, MIG's largest positions were bonds from Alphabet, Meta Platforms, Microsoft, Medline Borrower LP, Toronto-Dominion Bank, BNP Paribas, AT&T, PepsiCo and Altria, with two Alphabet bonds in the top 10. No single bond topped 1.4% of assets, and the 10 largest made up 9.74% across 364 holdings. US issuers were about 76% of assets. The prospectus named financials, information technology, consumer discretionary and consumer staples as significant sectors as of April 30, 2026.