BYLD vs. BOND
BYLD (iShares Yield Optimized Bond ETF) and BOND (PIMCO Active Bond ETF) are both Intermediate Core-Plus Bond funds. BYLD is passively managed, while BOND is actively managed. Over the past 10 years, BYLD returned 2.96%/yr vs 2.15%/yr for BOND. A 0.64 correlation means they provide meaningful diversification when combined. BYLD charges 0.17%/yr vs 0.54%/yr for BOND.
Performance
BYLD vs. BOND - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BYLD achieves a 1.46% return, which is significantly higher than BOND's 0.65% return. Over the past 10 years, BYLD has outperformed BOND with an annualized return of 2.96%, while BOND has yielded a comparatively lower 2.15% annualized return.
BYLD
- 1D
- -0.18%
- 1M
- 0.84%
- YTD
- 1.46%
- 6M
- 1.62%
- 1Y
- 6.36%
- 3Y*
- 6.52%
- 5Y*
- 2.23%
- 10Y*
- 2.96%
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%
BYLD vs. BOND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BYLD iShares Yield Optimized Bond ETF | 1.46% | 8.41% | 4.17% | 8.30% | -10.33% | -1.25% | 4.25% | 12.79% | -1.50% | 4.75% |
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% |
Correlation
The correlation between BYLD and BOND is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Apr 24, 2014 | 0.64 |
The correlation between BYLD and BOND shifts across timeframes, from 0.64 (all time) to 0.84 (3 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BYLD vs. BOND — Risk / Return Rank
BYLD
BOND
BYLD vs. BOND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Yield Optimized Bond ETF (BYLD) and PIMCO Active Bond ETF (BOND). 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.
| BYLD | BOND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.26 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.35 | 1.96 | +0.39 |
| Martin ratioReturn relative to average drawdown | 9.51 | 5.93 | +3.57 |
Loading charts...
Drawdowns
BYLD vs. BOND - Drawdown Comparison
The maximum BYLD drawdown since its inception was -14.75%, smaller than the maximum BOND drawdown of -19.71%. Use the drawdown chart below to compare losses from any high point for BYLD and BOND.
Loading charts...
Drawdown Indicators
| BYLD | BOND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.75% | -19.71% | +4.96% |
Max Drawdown (1Y)Largest decline over 1 year | -2.71% | -3.01% | +0.30% |
Max Drawdown (3Y)Largest decline over 3 years | -3.94% | -6.12% | +2.18% |
Max Drawdown (5Y)Largest decline over 5 years | -14.65% | -19.71% | +5.06% |
Max Drawdown (10Y)Largest decline over 10 years | -14.75% | -19.71% | +4.96% |
Current DrawdownCurrent decline from peak | -0.18% | -1.40% | +1.22% |
Average DrawdownAverage peak-to-trough decline | -2.50% | -3.50% | +1.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 0.99% | -0.32% |
Volatility
BYLD vs. BOND - Volatility Comparison
The current volatility for iShares Yield Optimized Bond ETF (BYLD) is 1.13%, while PIMCO Active Bond ETF (BOND) has a volatility of 1.35%. This indicates that BYLD experiences smaller price fluctuations and is considered to be less risky than BOND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BYLD | BOND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 1.35% | -0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 3.06% | 3.05% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.85% | 3.99% | -0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.21% | 5.78% | -0.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.43% | 5.10% | +0.33% |
BYLD vs. BOND - Expense Ratio Comparison
BYLD has a 0.17% expense ratio, which is lower than BOND's 0.54% expense ratio.
Dividends
BYLD vs. BOND - Dividend Comparison
BYLD's dividend yield for the trailing twelve months is around 5.35%, more than BOND's 5.18% 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% |
BYLD iShares Yield Optimized Bond ETF | 5.35% | 5.32% | 5.31% | 4.45% | 3.39% | 2.18% | 3.41% | 3.67% | 4.22% | 3.22% | 3.14% | 3.37% |
Frequently Asked Questions
BYLD and BOND have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BOND has higher volatility (1.35%) compared to BYLD (1.13%). In terms of maximum drawdown, BYLD dropped -14.75% vs BOND's -19.71%.
On 10-year performance, BYLD leads with 2.96% vs 2.15% for BOND. On fees, BYLD is cheaper at 0.17% per year. On volatility, BYLD has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, BYLD has performed better with a 2.96% return vs 2.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BYLD is cheaper with a 0.17% expense ratio, compared with 0.54% for BOND.
BYLD has the higher dividend yield at 5.35%, compared with 5.18% for BOND.
They also come from different issuers: iShares and PIMCO. Their fees differ too: 0.17% for BYLD and 0.54% for BOND.
BYLD currently has the higher Sharpe Ratio (1.66 vs 1.49), 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.
Find the right allocation for BYLD and BOND
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer