BOND vs. MFDX

Last updated Jun 4, 2026

BOND (PIMCO Active Bond ETF) and MFDX (PIMCO RAFI Dynamic Multi-Factor International Equity ETF) are both exchange-traded funds - BOND is a Intermediate Core-Plus Bond fund actively managed by PIMCO, while MFDX is a Foreign Large Cap Equities fund tracking the RAFI Dynamic Multi-Factor Developed Ex-U.S. Index. BOND is actively managed, while MFDX is passively managed. Over the past 5 years, BOND returned 0.51%/yr vs 9.92%/yr for MFDX. At a 0.17 correlation, their price movements are largely independent. BOND charges 0.54%/yr vs 0.39%/yr for MFDX.

Performance

BOND vs. MFDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Active Bond ETF (BOND) and PIMCO RAFI Dynamic Multi-Factor International Equity ETF (MFDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BOND achieves a 0.48% return, which is significantly lower than MFDX's 9.73% return.

BOND

• 1D: -0.24%
• 1M: 0.30%
• YTD: 0.48%
• 6M: 0.46%
• 1Y: 6.71%
• 3Y*: 4.99%
• 5Y*: 0.51%
• 10Y*: 2.16%

MFDX

• 1D: -0.55%
• 1M: 2.31%
• YTD: 9.73%
• 6M: 12.33%
• 1Y: 23.13%
• 3Y*: 18.62%
• 5Y*: 9.92%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BOND vs. MFDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BOND PIMCO Active Bond ETF	0.48%	8.39%	2.77%	6.48%	-14.57%	-0.77%	7.80%	8.54%	0.08%	-0.18%
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF	9.73%	34.27%	4.40%	17.54%	-10.27%	11.07%	6.90%	19.88%	-14.88%	7.02%

Correlation

The correlation between BOND and MFDX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.30
Correlation (All Time) Calculated using the full available price history since Sep 7, 2017	0.17

Over the past year, BOND and MFDX have become more correlated (0.47) than their long-term average of 0.17, meaning their price movements have been converging.

BOND vs. MFDX - Sectors Allocation Comparison

Sectors	BOND	MFDX
Financial Services	100.0%	16.4%
Basic Materials	-	10.8%
Communication Services	-	7.0%
Consumer Cyclical	-	8.6%
Consumer Defensive	-	8.0%
Energy	-	6.8%
Healthcare	-	6.0%
Industrials	-	19.9%
Real Estate	-	3.0%
Technology	-	7.1%
Utilities	-	6.4%

Return for Risk

BOND vs. MFDX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BOND

BOND Risk / Return Rank: 47
BOND Sharpe Ratio Rank: 48
BOND Sortino Ratio Rank: 50
BOND Omega Ratio Rank: 47
BOND Calmar Ratio Rank: 44
BOND Martin Ratio Rank: 43

MFDX

MFDX Risk / Return Rank: 48
MFDX Sharpe Ratio Rank: 48
MFDX Sortino Ratio Rank: 48
MFDX Omega Ratio Rank: 48
MFDX Calmar Ratio Rank: 44
MFDX Martin Ratio Rank: 51

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BOND vs. MFDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Active Bond ETF (BOND) and PIMCO RAFI Dynamic Multi-Factor International Equity ETF (MFDX). 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	MFDX	Difference
Sharpe ratio: Return per unit of total volatility	1.70	1.70	0.00
Sortino ratio: Return per unit of downside risk	2.50	2.38	+0.12
Omega ratio: Gain probability vs. loss probability	1.31	1.31	0.00
Calmar ratio: Return relative to maximum drawdown	2.23	2.18	+0.06
Martin ratio: Return relative to average drawdown	7.13	8.66	-1.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BOND vs. MFDX - Sharpe Ratio Comparison

The current BOND Sharpe Ratio is 1.70, which is comparable to the MFDX Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of BOND and MFDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BOND	MFDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	1.70	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.09	0.66	-0.58
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.54	+0.09

Drawdowns

BOND vs. MFDX - Drawdown Comparison

The maximum BOND drawdown since its inception was -19.71%, smaller than the maximum MFDX drawdown of -36.05%. Use the drawdown chart below to compare losses from any high point for BOND and MFDX.

Drawdown Indicators

	BOND	MFDX	Difference
Max Drawdown Largest peak-to-trough decline	-19.71%	-36.05%	+16.34%
Max Drawdown (1Y) Largest decline over 1 year	-3.01%	-10.66%	+7.65%
Max Drawdown (3Y) Largest decline over 3 years	-6.12%	-11.62%	+5.50%
Max Drawdown (5Y) Largest decline over 5 years	-19.71%	-25.58%	+5.87%
Max Drawdown (10Y) Largest decline over 10 years	-19.71%	—	—
Current Drawdown Current decline from peak	-1.57%	-1.84%	+0.27%
Average Drawdown Average peak-to-trough decline	-3.50%	-6.50%	+3.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	2.68%	-1.74%

Volatility

BOND vs. MFDX - Volatility Comparison

The current volatility for PIMCO Active Bond ETF (BOND) is 1.40%, while PIMCO RAFI Dynamic Multi-Factor International Equity ETF (MFDX) has a volatility of 4.45%. This indicates that BOND experiences smaller price fluctuations and is considered to be less risky than MFDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BOND	MFDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.40%	4.45%	-3.05%
Volatility (6M) Calculated over the trailing 6-month period	2.88%	11.34%	-8.46%
Volatility (1Y) Calculated over the trailing 1-year period	3.97%	13.73%	-9.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.76%	15.03%	-9.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.09%	16.41%	-11.32%

BOND vs. MFDX - Expense Ratio Comparison

BOND has a 0.54% expense ratio, which is higher than MFDX's 0.39% expense ratio.

Dividends

BOND vs. MFDX - Dividend Comparison

BOND's dividend yield for the trailing twelve months is around 5.19%, more than MFDX's 2.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BOND PIMCO Active Bond ETF	5.19%	5.11%	5.02%	4.06%	3.44%	2.58%	2.66%	3.38%	3.18%	2.87%	2.85%	4.14%
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF	2.79%	2.97%	3.16%	3.12%	2.85%	2.99%	1.58%	2.88%	2.13%	0.71%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BOND and MFDX in my portfolio?

BOND and MFDX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BOND or MFDX?

MFDX has higher volatility (4.45%) compared to BOND (1.40%). In terms of maximum drawdown, BOND dropped -19.71% vs MFDX's -36.05%.

Which ETF is better, BOND or MFDX?

On 5-year performance, MFDX leads with 9.92% vs 0.51% for BOND. On fees, MFDX is cheaper at 0.39% per year. On volatility, BOND has been the lower-risk option at 1.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BOND or MFDX?

Over the 5-year period, MFDX has performed better with a 9.92% return vs 0.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BOND or MFDX?

MFDX is cheaper with a 0.39% expense ratio, compared with 0.54% for BOND.

Which ETF pays a higher dividend yield, BOND or MFDX?

BOND has the higher dividend yield at 5.19%, compared with 2.79% for MFDX.

What is the main difference between BOND and MFDX?

BOND is categorized as Intermediate Core-Plus Bond, while MFDX is Foreign Large Cap Equities. Their fees differ too: 0.54% for BOND and 0.39% for MFDX.

Which has better risk-adjusted returns?

MFDX currently has the higher Sharpe Ratio (1.70 vs 1.70), 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.