BOND vs. SCHZ
BOND (PIMCO Active Bond ETF) and SCHZ (Schwab U.S. Aggregate Bond ETF) are both exchange-traded funds - BOND is a Intermediate Core-Plus Bond fund actively managed by PIMCO, while SCHZ is a Total Bond Market fund tracking the Bloomberg US Aggregate Bond Index. BOND is actively managed, while SCHZ is passively managed. Over the past 10 years, BOND returned 2.15%/yr vs 1.48%/yr for SCHZ. Their correlation of 0.83 suggests significant overlap in exposure. BOND charges 0.54%/yr vs 0.03%/yr for SCHZ.
Performance
BOND vs. SCHZ - Performance Comparison
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Returns By Period
In the year-to-date period, BOND achieves a 0.65% return, which is significantly higher than SCHZ's 0.38% return. Over the past 10 years, BOND has outperformed SCHZ with an annualized return of 2.15%, while SCHZ has yielded a comparatively lower 1.48% annualized return.
BOND
- 1D
- -0.33%
- 1M
- 0.77%
- YTD
- 0.65%
- 6M
- 0.84%
- 1Y
- 5.88%
- 3Y*
- 5.07%
- 5Y*
- 0.46%
- 10Y*
- 2.15%
SCHZ
- 1D
- -0.26%
- 1M
- 0.61%
- YTD
- 0.38%
- 6M
- 0.47%
- 1Y
- 4.52%
- 3Y*
- 3.90%
- 5Y*
- 0.02%
- 10Y*
- 1.48%
BOND vs. SCHZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BOND PIMCO Active Bond ETF | 0.65% | 8.39% | 2.77% | 6.48% | -14.57% | -0.77% | 7.80% | 8.54% | 0.08% | 4.76% |
SCHZ Schwab U.S. Aggregate Bond ETF | 0.38% | 7.24% | 1.26% | 5.60% | -13.17% | -1.72% | 7.46% | 8.65% | -0.26% | 3.50% |
Correlation
The correlation between BOND and SCHZ 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 | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 2012 | 0.83 |
The correlation between BOND and SCHZ shifts across timeframes, from 0.83 (all time) to 0.97 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BOND vs. SCHZ — Risk / Return Rank
BOND
SCHZ
BOND vs. SCHZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Active Bond ETF (BOND) and Schwab U.S. Aggregate Bond ETF (SCHZ). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BOND | SCHZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.21 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.96 | 1.68 | +0.28 |
| Martin ratioReturn relative to average drawdown | 5.93 | 4.86 | +1.08 |
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Drawdowns
BOND vs. SCHZ - Drawdown Comparison
The maximum BOND drawdown since its inception was -19.71%, which is greater than SCHZ's maximum drawdown of -18.74%. Use the drawdown chart below to compare losses from any high point for BOND and SCHZ.
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Drawdown Indicators
| BOND | SCHZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.71% | -18.74% | -0.97% |
Max Drawdown (1Y)Largest decline over 1 year | -3.01% | -2.70% | -0.31% |
Max Drawdown (3Y)Largest decline over 3 years | -6.12% | -6.18% | +0.06% |
Max Drawdown (5Y)Largest decline over 5 years | -19.71% | -18.01% | -1.70% |
Max Drawdown (10Y)Largest decline over 10 years | -19.71% | -18.74% | -0.97% |
Current DrawdownCurrent decline from peak | -1.40% | -2.38% | +0.98% |
Average DrawdownAverage peak-to-trough decline | -3.50% | -3.68% | +0.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.99% | 0.93% | +0.06% |
Volatility
BOND vs. SCHZ - Volatility Comparison
PIMCO Active Bond ETF (BOND) has a higher volatility of 1.35% compared to Schwab U.S. Aggregate Bond ETF (SCHZ) at 1.15%. This indicates that BOND's price experiences larger fluctuations and is considered to be riskier than SCHZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BOND | SCHZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 1.15% | +0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 3.05% | 2.79% | +0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.99% | 3.76% | +0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.78% | 6.09% | -0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.10% | 5.42% | -0.32% |
BOND vs. SCHZ - Expense Ratio Comparison
BOND has a 0.54% expense ratio, which is higher than SCHZ's 0.03% expense ratio.
Dividends
BOND vs. SCHZ - Dividend Comparison
BOND's dividend yield for the trailing twelve months is around 5.18%, more than SCHZ's 4.12% 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% |
SCHZ Schwab U.S. Aggregate Bond ETF | 4.12% | 4.05% | 3.96% | 3.28% | 2.63% | 2.16% | 2.43% | 2.79% | 2.56% | 2.40% | 2.24% | 2.11% |
Frequently Asked Questions
With a correlation of 0.97, BOND and SCHZ 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 (1.35%) compared to SCHZ (1.15%). In terms of maximum drawdown, BOND dropped -19.71% vs SCHZ's -18.74%.
On 10-year performance, BOND leads with 2.15% vs 1.48% for SCHZ. On fees, SCHZ is cheaper at 0.03% per year. On volatility, SCHZ has been the lower-risk option at 1.15%. 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 2.15% return vs 1.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHZ is cheaper with a 0.03% expense ratio, compared with 0.54% for BOND.
BOND has the higher dividend yield at 5.18%, compared with 4.12% for SCHZ.
BOND is categorized as Intermediate Core-Plus Bond, while SCHZ is Total Bond Market. They also come from different issuers: PIMCO and Charles Schwab. Their fees differ too: 0.54% for BOND and 0.03% for SCHZ.
BOND currently has the higher Sharpe Ratio (1.49 vs 1.21), 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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