BOND vs. IUSB
BOND (PIMCO Active Bond ETF) and IUSB (iShares Core Universal USD Bond ETF) are both Intermediate Core-Plus Bond funds. BOND is actively managed, while IUSB is passively managed. Over the past 10 years, BOND returned 2.21%/yr vs 1.97%/yr for IUSB. Their correlation of 0.81 suggests significant overlap in exposure. BOND charges 0.54%/yr vs 0.06%/yr for IUSB.
Performance
BOND vs. IUSB - Performance Comparison
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Returns By Period
In the year-to-date period, BOND achieves a 0.66% return, which is significantly higher than IUSB's 0.56% return. Over the past 10 years, BOND has outperformed IUSB with an annualized return of 2.21%, while IUSB has yielded a comparatively lower 1.97% annualized 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%
IUSB
- 1D
- 0.13%
- 1M
- 0.26%
- YTD
- 0.56%
- 6M
- 0.63%
- 1Y
- 5.05%
- 3Y*
- 4.56%
- 5Y*
- 0.47%
- 10Y*
- 1.97%
BOND vs. IUSB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BOND PIMCO Active Bond ETF | 0.66% | 8.39% | 2.77% | 6.48% | -14.57% | -0.77% | 7.80% | 8.54% | 0.08% | 4.76% |
IUSB iShares Core Universal USD Bond ETF | 0.56% | 7.38% | 2.11% | 6.23% | -13.04% | -1.33% | 7.62% | 9.13% | -0.27% | 3.82% |
Correlation
The correlation between BOND and IUSB is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Jun 13, 2014 | 0.81 |
The correlation between BOND and IUSB shifts across timeframes, from 0.81 (all time) to 0.97 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BOND vs. IUSB — Risk / Return Rank
BOND
IUSB
BOND vs. IUSB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Active Bond ETF (BOND) and iShares Core Universal USD Bond ETF (IUSB). 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 | IUSB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.25 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 2.01 | +0.05 |
| Martin ratioReturn relative to average drawdown | 6.56 | 6.08 | +0.48 |
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 | IUSB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.58 | 1.42 | +0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.09 | 0.08 | +0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | 0.39 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.46 | +0.17 |
Drawdowns
BOND vs. IUSB - Drawdown Comparison
The maximum BOND drawdown since its inception was -19.71%, which is greater than IUSB's maximum drawdown of -17.90%. Use the drawdown chart below to compare losses from any high point for BOND and IUSB.
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Drawdown Indicators
| BOND | IUSB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.71% | -17.90% | -1.81% |
Max Drawdown (1Y)Largest decline over 1 year | -3.01% | -2.53% | -0.48% |
Max Drawdown (3Y)Largest decline over 3 years | -6.12% | -5.82% | -0.30% |
Max Drawdown (5Y)Largest decline over 5 years | -19.71% | -17.87% | -1.84% |
Max Drawdown (10Y)Largest decline over 10 years | -19.71% | -17.90% | -1.81% |
Current DrawdownCurrent decline from peak | -1.39% | -1.20% | -0.19% |
Average DrawdownAverage peak-to-trough decline | -3.50% | -3.59% | +0.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 0.83% | +0.12% |
Volatility
BOND vs. IUSB - Volatility Comparison
PIMCO Active Bond ETF (BOND) has a higher volatility of 1.41% compared to iShares Core Universal USD Bond ETF (IUSB) at 1.24%. This indicates that BOND's price experiences larger fluctuations and is considered to be riskier than IUSB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BOND | IUSB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.41% | 1.24% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.89% | 2.62% | +0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.97% | 3.62% | +0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.76% | 5.79% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.09% | 5.04% | +0.05% |
BOND vs. IUSB - Expense Ratio Comparison
BOND has a 0.54% expense ratio, which is higher than IUSB's 0.06% expense ratio.
Dividends
BOND vs. IUSB - Dividend Comparison
BOND's dividend yield for the trailing twelve months is around 5.18%, more than IUSB's 4.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
IUSB iShares Core Universal USD Bond ETF | 4.23% | 4.17% | 4.04% | 3.46% | 2.53% | 1.74% | 2.68% | 3.04% | 2.98% | 2.56% | 2.60% | 1.95% |
Frequently Asked Questions
With a correlation of 0.97, BOND and IUSB move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
BOND has higher volatility (1.41%) compared to IUSB (1.24%). In terms of maximum drawdown, BOND dropped -19.71% vs IUSB's -17.90%.
On 10-year performance, BOND leads with 2.21% vs 1.97% for IUSB. On fees, IUSB is cheaper at 0.06% per year. On volatility, IUSB has been the lower-risk option at 1.24%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, BOND has performed better with a 2.21% return vs 1.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IUSB is cheaper with a 0.06% expense ratio, compared with 0.54% for BOND.
BOND has the higher dividend yield at 5.18%, compared with 4.23% for IUSB.
They also come from different issuers: PIMCO and iShares. Their fees differ too: 0.54% for BOND and 0.06% for IUSB.
BOND currently has the higher Sharpe Ratio (1.58 vs 1.42), 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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