BOND vs. BHYB
BOND (PIMCO Active Bond ETF) and BHYB (Xtrackers USD High Yield BB-B ex Financials ETF) are both exchange-traded funds - BOND is a Intermediate Core-Plus Bond fund actively managed by PIMCO, while BHYB is a High Yield Bonds fund tracking the ICE BofA BB-B Non-FNCL Non-Distressed US HY Constrained Index - Benchmark TR Gross. BOND is actively managed, while BHYB is passively managed. Over the past year, BOND returned 6.19% vs 7.27% for BHYB. A 0.59 correlation means they provide meaningful diversification when combined. BOND charges 0.54%/yr vs 0.20%/yr for BHYB.
Performance
BOND vs. BHYB - Performance Comparison
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Returns By Period
In the year-to-date period, BOND achieves a 0.66% return, which is significantly lower than BHYB's 1.84% return.
BOND
- 1D
- 0.19%
- 1M
- 0.35%
- YTD
- 0.66%
- 6M
- 0.84%
- 1Y
- 6.19%
- 3Y*
- 5.08%
- 5Y*
- 0.54%
- 10Y*
- 2.21%
BHYB
- 1D
- 0.16%
- 1M
- 0.50%
- YTD
- 1.84%
- 6M
- 2.25%
- 1Y
- 7.27%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BOND vs. BHYB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BOND PIMCO Active Bond ETF | 0.66% | 8.39% | 2.77% | 8.72% |
BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 1.84% | 8.90% | 6.44% | 8.23% |
Correlation
The correlation between BOND and BHYB is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Oct 30, 2023 | 0.59 |
The correlation between BOND and BHYB has been stable across timeframes, ranging from 0.59 to 0.61 - a consistent structural relationship.
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Return for Risk
BOND vs. BHYB — Risk / Return Rank
BOND
BHYB
BOND vs. BHYB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Active Bond ETF (BOND) and Xtrackers USD High Yield BB-B ex Financials ETF (BHYB). 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.
| BOND | BHYB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.57 | ||
| Sortino ratioReturn per unit of downside risk | -1.07 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.44 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 3.21 | -1.15 |
| Martin ratioReturn relative to average drawdown | 6.56 | 14.74 | -8.18 |
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
| BOND | BHYB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.58 | 2.15 | -0.57 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.09 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 2.12 | -1.48 |
Drawdowns
BOND vs. BHYB - Drawdown Comparison
The maximum BOND drawdown since its inception was -19.71%, which is greater than BHYB's maximum drawdown of -4.23%. Use the drawdown chart below to compare losses from any high point for BOND and BHYB.
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Drawdown Indicators
| BOND | BHYB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.71% | -4.23% | -15.48% |
Max Drawdown (1Y)Largest decline over 1 year | -3.01% | -2.27% | -0.74% |
Max Drawdown (3Y)Largest decline over 3 years | -6.12% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -19.71% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -19.71% | — | — |
Current DrawdownCurrent decline from peak | -1.39% | -0.06% | -1.33% |
Average DrawdownAverage peak-to-trough decline | -3.50% | -0.40% | -3.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 0.49% | +0.46% |
Volatility
BOND vs. BHYB - Volatility Comparison
PIMCO Active Bond ETF (BOND) has a higher volatility of 1.41% compared to Xtrackers USD High Yield BB-B ex Financials ETF (BHYB) at 1.02%. This indicates that BOND's price experiences larger fluctuations and is considered to be riskier than BHYB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BOND | BHYB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.41% | 1.02% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 2.89% | 2.52% | +0.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.97% | 3.40% | +0.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.76% | 4.70% | +1.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.09% | 4.70% | +0.39% |
BOND vs. BHYB - Expense Ratio Comparison
BOND has a 0.54% expense ratio, which is higher than BHYB's 0.20% expense ratio.
Dividends
BOND vs. BHYB - Dividend Comparison
BOND's dividend yield for the trailing twelve months is around 5.18%, less than BHYB's 6.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 6.32% | 6.57% | 7.04% | 0.75% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
BOND PIMCO Active Bond ETF | 5.18% | 5.11% | 5.02% | 4.06% | 3.44% | 2.58% | 2.66% | 3.38% | 3.18% | 2.87% | 2.85% | 4.14% |
Frequently Asked Questions
BOND and BHYB have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BOND has higher volatility (1.41%) compared to BHYB (1.02%). In terms of maximum drawdown, BOND dropped -19.71% vs BHYB's -4.23%.
On 1-year performance, BHYB leads with 7.27% vs 6.19% for BOND. On fees, BHYB is cheaper at 0.20% per year. On volatility, BHYB has been the lower-risk option at 1.02%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BHYB has performed better with a 7.27% return vs 6.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BHYB is cheaper with a 0.20% expense ratio, compared with 0.54% for BOND.
BHYB has the higher dividend yield at 6.32%, compared with 5.18% for BOND.
BOND is categorized as Intermediate Core-Plus Bond, while BHYB is High Yield Bonds. They also come from different issuers: PIMCO and Xtrackers. Their fees differ too: 0.54% for BOND and 0.20% for BHYB.
BHYB currently has the higher Sharpe Ratio (2.15 vs 1.58), 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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