CCRV vs. PAIIX

Last updated Jun 24, 2026

CCRV (iShares Commodity Curve Carry Strategy ETF) and PAIIX (PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged)) are both funds - CCRV is a Commodities fund tracking the CCRV-US - ICE BofA Commodity Enhanced Carry Index, while PAIIX is a Global Bonds fund managed by PIMCO. At a correlation of -0.02, they often move in opposite directions. CCRV charges 0.40%/yr vs 0.90%/yr for PAIIX.

Performance

CCRV vs. PAIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Commodity Curve Carry Strategy ETF (CCRV) and PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) (PAIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CCRV

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PAIIX

• 1D: 0.00%
• 1M: 1.22%
• YTD: -0.29%
• 6M: -0.39%
• 1Y: 4.52%
• 3Y*: 5.59%
• 5Y*: 2.30%
• 10Y*: 2.89%

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

CCRV vs. PAIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
CCRV iShares Commodity Curve Carry Strategy ETF	0.00%	-0.05%	5.74%	5.47%	19.91%	33.78%	7.16%
PAIIX PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged)	-0.29%	8.23%	4.02%	6.63%	-6.00%	-0.84%	2.61%

Correlation

The correlation between CCRV and PAIIX is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.16
Correlation (3Y) Calculated over the trailing 3-year period	-0.07
Correlation (5Y) Calculated over the trailing 5-year period	-0.04
Correlation (All Time) Calculated using the full available price history since Sep 3, 2020	-0.02

The correlation between CCRV and PAIIX shifts across timeframes, from -0.16 (1 year) to -0.02 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CCRV vs. PAIIX — Risk / Return Rank

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

CCRV

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

PAIIX

PAIIX Risk / Return Rank: 17
PAIIX Sharpe Ratio Rank: 19
PAIIX Sortino Ratio Rank: 19
PAIIX Omega Ratio Rank: 23
PAIIX Calmar Ratio Rank: 13
PAIIX Martin Ratio Rank: 14

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.

CCRV vs. PAIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Commodity Curve Carry Strategy ETF (CCRV) and PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) (PAIIX). 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.

	CCRV	PAIIX	Difference
Sharpe ratio: Return per unit of total volatility	—	1.16	—
Sortino ratio: Return per unit of downside risk	—	1.71	—
Omega ratio: Gain probability vs. loss probability	—	1.23	—
Calmar ratio: Return relative to maximum drawdown	—	1.12	—
Martin ratio: Return relative to average drawdown	—	3.57	—

Drawdowns

Drawdown Indicators

	CCRV	PAIIX	Difference
Max Drawdown Largest peak-to-trough decline	—	-13.59%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-4.25%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.25%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-9.80%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-10.44%	—
Current Drawdown Current decline from peak	—	-1.21%	—
Average Drawdown Average peak-to-trough decline	—	-1.99%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.33%	—

Volatility

Volatility by Period

	CCRV	PAIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.12%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.64%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	4.13%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	3.44%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	3.02%	—

CCRV vs. PAIIX - Expense Ratio Comparison

CCRV has a 0.40% expense ratio, which is lower than PAIIX's 0.90% expense ratio.

Dividends

CCRV vs. PAIIX - Dividend Comparison

CCRV has not paid dividends to shareholders, while PAIIX's dividend yield for the trailing twelve months is around 4.67%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CCRV iShares Commodity Curve Carry Strategy ETF	0.00%	0.00%	4.43%	7.26%	33.27%	26.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PAIIX PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged)	4.67%	4.44%	3.72%	2.05%	7.25%	2.59%	1.90%	3.75%	1.78%	2.73%	2.23%	5.44%

Frequently Asked Questions

Can I hold both CCRV and PAIIX in my portfolio?

CCRV and PAIIX have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.