BOND vs. TOBAX

Last updated Jun 9, 2026

BOND (PIMCO Active Bond ETF) and TOBAX (Touchstone Active Bond Fund) are both Intermediate Core-Plus Bond funds. Over the past 10 years, BOND returned 2.08%/yr vs 2.01%/yr for TOBAX. Their correlation of 0.80 suggests significant overlap in exposure. BOND charges 0.54%/yr vs 0.83%/yr for TOBAX.

Performance

BOND vs. TOBAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Active Bond ETF (BOND) and Touchstone Active Bond Fund (TOBAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BOND achieves a -0.03% return, which is significantly higher than TOBAX's -0.19% return. Both investments have delivered pretty close results over the past 10 years, with BOND having a 2.08% annualized return and TOBAX not far behind at 2.01%.

BOND

• 1D: -0.12%
• 1M: -0.86%
• YTD: -0.03%
• 6M: 0.53%
• 1Y: 6.21%
• 3Y*: 4.91%
• 5Y*: 0.34%
• 10Y*: 2.08%

TOBAX

• 1D: -0.32%
• 1M: -0.59%
• YTD: -0.19%
• 6M: 0.46%
• 1Y: 5.40%
• 3Y*: 4.49%
• 5Y*: 0.11%
• 10Y*: 2.01%

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

BOND vs. TOBAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BOND PIMCO Active Bond ETF	-0.03%	8.39%	2.77%	6.48%	-14.57%	-0.77%	7.80%	8.54%	0.08%	4.76%
TOBAX Touchstone Active Bond Fund	-0.19%	7.66%	2.22%	6.38%	-14.20%	-1.34%	9.93%	10.11%	-1.94%	3.51%

Correlation

The correlation between BOND and TOBAX is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Mar 1, 2012	0.80

The correlation between BOND and TOBAX shifts across timeframes, from 0.80 (all time) to 0.92 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

BOND vs. TOBAX — Risk / Return Rank

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

BOND

BOND Risk / Return Rank: 49
BOND Sharpe Ratio Rank: 51
BOND Sortino Ratio Rank: 53
BOND Omega Ratio Rank: 50
BOND Calmar Ratio Rank: 46
BOND Martin Ratio Rank: 44

TOBAX

TOBAX Risk / Return Rank: 25
TOBAX Sharpe Ratio Rank: 25
TOBAX Sortino Ratio Rank: 26
TOBAX Omega Ratio Rank: 24
TOBAX Calmar Ratio Rank: 25
TOBAX Martin Ratio Rank: 22

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. TOBAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Active Bond ETF (BOND) and Touchstone Active Bond Fund (TOBAX). 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	TOBAX	Difference
Sharpe ratio: Return per unit of total volatility	1.59	1.26	+0.33
Sortino ratio: Return per unit of downside risk	2.31	1.87	+0.45
Omega ratio: Gain probability vs. loss probability	1.28	1.23	+0.06
Calmar ratio: Return relative to maximum drawdown	2.07	1.65	+0.42
Martin ratio: Return relative to average drawdown	6.47	4.91	+1.56
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. TOBAX - Sharpe Ratio Comparison

The current BOND Sharpe Ratio is 1.59, which is comparable to the TOBAX Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of BOND and TOBAX, 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	TOBAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.59	1.26	+0.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.06	0.02	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	0.42	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.89	-0.27

Drawdowns

BOND vs. TOBAX - Drawdown Comparison

The maximum BOND drawdown since its inception was -19.71%, roughly equal to the maximum TOBAX drawdown of -19.73%. Use the drawdown chart below to compare losses from any high point for BOND and TOBAX.

Drawdown Indicators

	BOND	TOBAX	Difference
Max Drawdown Largest peak-to-trough decline	-19.71%	-19.73%	+0.02%
Max Drawdown (1Y) Largest decline over 1 year	-3.01%	-2.88%	-0.13%
Max Drawdown (3Y) Largest decline over 3 years	-6.12%	-6.12%	0.00%
Max Drawdown (5Y) Largest decline over 5 years	-19.71%	-19.73%	+0.02%
Max Drawdown (10Y) Largest decline over 10 years	-19.71%	-19.73%	+0.02%
Current Drawdown Current decline from peak	-2.06%	-1.88%	-0.18%
Average Drawdown Average peak-to-trough decline	-3.50%	-2.43%	-1.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	0.97%	-0.01%

Volatility

BOND vs. TOBAX - Volatility Comparison

PIMCO Active Bond ETF (BOND) has a higher volatility of 1.42% compared to Touchstone Active Bond Fund (TOBAX) at 1.32%. This indicates that BOND's price experiences larger fluctuations and is considered to be riskier than TOBAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BOND	TOBAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.42%	1.32%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	2.93%	2.73%	+0.20%
Volatility (1Y) Calculated over the trailing 1-year period	3.93%	3.78%	+0.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.77%	5.79%	-0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.09%	4.81%	+0.28%

BOND vs. TOBAX - Expense Ratio Comparison

BOND has a 0.54% expense ratio, which is lower than TOBAX's 0.83% expense ratio.

Dividends

BOND vs. TOBAX - Dividend Comparison

BOND's dividend yield for the trailing twelve months is around 5.21%, more than TOBAX's 4.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BOND PIMCO Active Bond ETF	5.21%	5.11%	5.02%	4.06%	3.44%	2.58%	2.66%	3.38%	3.18%	2.87%	2.85%	4.14%
TOBAX Touchstone Active Bond Fund	4.04%	3.52%	3.72%	3.63%	3.10%	2.24%	2.58%	2.59%	2.79%	2.29%	2.65%	2.99%

Frequently Asked Questions

Can I hold both BOND and TOBAX in my portfolio?

With a correlation of 0.91, BOND and TOBAX 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.

Which is riskier, BOND or TOBAX?

BOND has higher volatility (1.42%) compared to TOBAX (1.32%). In terms of maximum drawdown, BOND dropped -19.71% vs TOBAX's -19.73%.

Which has better risk-adjusted returns?

BOND currently has the higher Sharpe Ratio (1.59 vs 1.26), 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.