BNDC vs. PIFI
BNDC (FlexShares Core Select Bond Fund) and PIFI (ClearShares Piton Intermediate Fixed Income ETF) are both Intermediate Core Bond funds. Both are actively managed. Over the past 5 years, BNDC returned -0.19%/yr vs 1.07%/yr for PIFI. Their correlation of 0.92 suggests significant overlap in exposure. BNDC charges 0.35%/yr vs 0.45%/yr for PIFI.
Performance
BNDC vs. PIFI - Performance Comparison
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Returns By Period
In the year-to-date period, BNDC achieves a 0.07% return, which is significantly lower than PIFI's 0.10% return.
BNDC
- 1D
- 0.13%
- 1M
- 0.12%
- YTD
- 0.07%
- 6M
- 0.16%
- 1Y
- 4.25%
- 3Y*
- 3.76%
- 5Y*
- -0.19%
- 10Y*
- —
PIFI
- 1D
- 0.24%
- 1M
- 0.12%
- YTD
- 0.10%
- 6M
- 0.27%
- 1Y
- 3.35%
- 3Y*
- 3.80%
- 5Y*
- 1.07%
- 10Y*
- —
BNDC vs. PIFI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BNDC FlexShares Core Select Bond Fund | 0.07% | 7.29% | 0.86% | 5.36% | -13.54% | -2.01% | 1.48% |
PIFI ClearShares Piton Intermediate Fixed Income ETF | 0.10% | 6.29% | 2.52% | 4.61% | -7.15% | -1.33% | 0.10% |
Correlation
The correlation between BNDC and PIFI is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Oct 5, 2020 | 0.92 |
The correlation between BNDC and PIFI has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.
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Return for Risk
BNDC vs. PIFI — Risk / Return Rank
BNDC
PIFI
BNDC vs. PIFI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Core Select Bond Fund (BNDC) and ClearShares Piton Intermediate Fixed Income ETF (PIFI). 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.
| BNDC | PIFI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.23 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 1.75 | -0.26 |
| Martin ratioReturn relative to average drawdown | 4.39 | 5.03 | -0.64 |
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
| BNDC | PIFI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.09 | 1.30 | -0.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.03 | 0.29 | -0.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 0.23 | -0.02 |
Drawdowns
BNDC vs. PIFI - Drawdown Comparison
The maximum BNDC drawdown since its inception was -18.80%, which is greater than PIFI's maximum drawdown of -10.59%. Use the drawdown chart below to compare losses from any high point for BNDC and PIFI.
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Drawdown Indicators
| BNDC | PIFI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.80% | -10.59% | -8.21% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -1.93% | -0.94% |
Max Drawdown (3Y)Largest decline over 3 years | -6.30% | -2.75% | -3.55% |
Max Drawdown (5Y)Largest decline over 5 years | -18.60% | -10.41% | -8.19% |
Current DrawdownCurrent decline from peak | -3.34% | -1.21% | -2.13% |
Average DrawdownAverage peak-to-trough decline | -7.35% | -3.23% | -4.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | 0.67% | +0.30% |
Volatility
BNDC vs. PIFI - Volatility Comparison
FlexShares Core Select Bond Fund (BNDC) has a higher volatility of 1.23% compared to ClearShares Piton Intermediate Fixed Income ETF (PIFI) at 0.84%. This indicates that BNDC's price experiences larger fluctuations and is considered to be riskier than PIFI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BNDC | PIFI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 0.84% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 2.78% | 1.84% | +0.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.99% | 2.62% | +1.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.07% | 3.66% | +2.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.05% | 3.48% | +4.57% |
BNDC vs. PIFI - Expense Ratio Comparison
BNDC has a 0.35% expense ratio, which is lower than PIFI's 0.45% expense ratio.
Dividends
BNDC vs. PIFI - Dividend Comparison
BNDC's dividend yield for the trailing twelve months is around 4.15%, more than PIFI's 3.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BNDC FlexShares Core Select Bond Fund | 4.15% | 4.16% | 3.81% | 3.19% | 2.64% | 1.72% | 2.61% | 2.89% | 2.86% | 2.50% | 0.64% |
PIFI ClearShares Piton Intermediate Fixed Income ETF | 3.75% | 3.16% | 2.92% | 2.29% | 1.22% | 0.25% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BNDC and PIFI have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BNDC has higher volatility (1.23%) compared to PIFI (0.84%). In terms of maximum drawdown, BNDC dropped -18.80% vs PIFI's -10.59%.
On 5-year performance, PIFI leads with 1.07% vs -0.19% for BNDC. On fees, BNDC is cheaper at 0.35% per year. On volatility, PIFI has been the lower-risk option at 0.84%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PIFI has performed better with a 1.07% return vs -0.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BNDC is cheaper with a 0.35% expense ratio, compared with 0.45% for PIFI.
BNDC has the higher dividend yield at 4.15%, compared with 3.75% for PIFI.
They also come from different issuers: Northern Trust and ClearShares. Their fees differ too: 0.35% for BNDC and 0.45% for PIFI.
PIFI currently has the higher Sharpe Ratio (1.30 vs 1.09), 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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