CORE.TO vs. PFL.TO
CORE.TO (PIMCO Canadian Core Bond Fund) and PFL.TO (Invesco Canadian Government Floating Rate Index ETF) are both Canadian Government Bonds funds. CORE.TO is actively managed, while PFL.TO is passively managed. Over the past year, CORE.TO returned 5.86% vs 2.67% for PFL.TO. At a 0.05 correlation, their price movements are largely independent.
Performance
CORE.TO vs. PFL.TO - Performance Comparison
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Returns By Period
In the year-to-date period, CORE.TO achieves a 2.10% return, which is significantly higher than PFL.TO's 1.31% return.
CORE.TO
- 1D
- 0.30%
- 1M
- -0.28%
- 6M
- 1.37%
- YTD
- 2.10%
- 1Y
- 5.86%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PFL.TO
- 1D
- 0.05%
- 1M
- 0.25%
- 6M
- 1.26%
- YTD
- 1.31%
- 1Y
- 2.67%
- 3Y*
- 3.74%
- 5Y*
- 3.15%
- 10Y*
- 2.16%
CORE.TO vs. PFL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CORE.TO PIMCO Canadian Core Bond Fund | 2.10% | 4.02% | 0.92% |
PFL.TO Invesco Canadian Government Floating Rate Index ETF | 1.31% | 3.00% | 1.49% |
Correlation
The correlation between CORE.TO and PFL.TO is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Aug 19, 2024 | 0.05 |
The correlation between CORE.TO and PFL.TO shifts across timeframes, from 0.05 (all time) to 0.17 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CORE.TO vs. PFL.TO — Risk / Return Rank
CORE.TO
PFL.TO
CORE.TO vs. PFL.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Canadian Core Bond Fund (CORE.TO) and Invesco Canadian Government Floating Rate Index ETF (PFL.TO). 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.
| CORE.TO | PFL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.84 | ||
| Sortino ratioReturn per unit of downside risk | -3.67 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.77 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | 1.97 | 17.43 | -15.46 |
| Martin ratioReturn relative to average drawdown | 5.09 | 56.45 | -51.37 |
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Drawdowns
CORE.TO vs. PFL.TO - Drawdown Comparison
The maximum CORE.TO drawdown since its inception was -3.48%, which is greater than PFL.TO's maximum drawdown of -2.07%. Use the drawdown chart below to compare losses from any high point for CORE.TO and PFL.TO.
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Drawdown Indicators
| CORE.TO | PFL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.48% | -2.07% | -1.41% |
Max Drawdown (1Y)Largest decline over 1 year | -2.99% | -0.15% | -2.84% |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.22% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.30% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -2.07% | — |
Current DrawdownCurrent decline from peak | -1.07% | 0.00% | -1.07% |
Average DrawdownAverage peak-to-trough decline | -1.30% | -0.08% | -1.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | 0.05% | +1.10% |
Volatility
CORE.TO vs. PFL.TO - Volatility Comparison
PIMCO Canadian Core Bond Fund (CORE.TO) has a higher volatility of 1.32% compared to Invesco Canadian Government Floating Rate Index ETF (PFL.TO) at 0.24%. This indicates that CORE.TO's price experiences larger fluctuations and is considered to be riskier than PFL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CORE.TO | PFL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.32% | 0.24% | +1.08% |
Volatility (6M)Calculated over the trailing 6-month period | 3.25% | 0.56% | +2.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.18% | 0.82% | +3.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.98% | 0.97% | +4.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.98% | 1.33% | +3.65% |
Dividends
CORE.TO vs. PFL.TO - Dividend Comparison
CORE.TO's dividend yield for the trailing twelve months is around 3.36%, more than PFL.TO's 2.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CORE.TO PIMCO Canadian Core Bond Fund | 3.36% | 3.42% | 0.32% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PFL.TO Invesco Canadian Government Floating Rate Index ETF | 2.63% | 2.95% | 5.23% | 5.13% | 2.22% | 0.36% | 1.21% | 2.10% | 1.59% | 0.95% | 0.81% | 0.95% |
Frequently Asked Questions
CORE.TO and PFL.TO have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: PIMCO and Invesco.
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