CORP vs. BOND

Last updated Jun 3, 2026

CORP (PIMCO Investment Grade Corporate Bond Index ETF) and BOND (PIMCO Active Bond ETF) are both exchange-traded funds - CORP is a Corporate Bonds fund tracking the ICE BofA US Corporate, while BOND is a Intermediate Core-Plus Bond fund actively managed by PIMCO. CORP is passively managed, while BOND is actively managed. Over the past 10 years, CORP returned 2.81%/yr vs 2.16%/yr for BOND. A 0.77 correlation means they provide meaningful diversification when combined. CORP charges 0.20%/yr vs 0.54%/yr for BOND.

Performance

CORP vs. BOND - Performance Comparison

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

Returns By Period

In the year-to-date period, CORP achieves a 0.78% return, which is significantly higher than BOND's 0.48% return. Over the past 10 years, CORP has outperformed BOND with an annualized return of 2.81%, while BOND has yielded a comparatively lower 2.16% annualized return.

CORP

• 1D: -0.01%
• 1M: 0.40%
• YTD: 0.78%
• 6M: 0.79%
• 1Y: 6.41%
• 3Y*: 5.55%
• 5Y*: 1.06%
• 10Y*: 2.81%

BOND

• 1D: -0.24%
• 1M: 0.30%
• YTD: 0.48%
• 6M: 0.46%
• 1Y: 6.71%
• 3Y*: 4.99%
• 5Y*: 0.51%
• 10Y*: 2.16%

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

CORP vs. BOND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CORP PIMCO Investment Grade Corporate Bond Index ETF	0.78%	7.96%	2.47%	9.13%	-14.96%	-1.18%	9.70%	14.80%	-3.29%	6.56%
BOND PIMCO Active Bond ETF	0.48%	8.39%	2.77%	6.48%	-14.57%	-0.77%	7.80%	8.54%	0.08%	4.76%

Correlation

The correlation between CORP and BOND is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Mar 2, 2012	0.77

The correlation between CORP and BOND shifts across timeframes, from 0.77 (all time) to 0.93 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

CORP vs. BOND — Risk / Return Rank

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

CORP

CORP Risk / Return Rank: 43
CORP Sharpe Ratio Rank: 43
CORP Sortino Ratio Rank: 46
CORP Omega Ratio Rank: 42
CORP Calmar Ratio Rank: 43
CORP Martin Ratio Rank: 43

BOND

BOND Risk / Return Rank: 47
BOND Sharpe Ratio Rank: 48
BOND Sortino Ratio Rank: 50
BOND Omega Ratio Rank: 47
BOND Calmar Ratio Rank: 44
BOND Martin Ratio Rank: 43

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.

CORP vs. BOND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Investment Grade Corporate Bond Index ETF (CORP) 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.

	CORP	BOND	Difference
Sharpe ratio Return per unit of total volatility	1.54	1.70	-0.16
Sortino ratio Return per unit of downside risk	2.28	2.50	-0.22
Omega ratio Gain probability vs. loss probability	1.27	1.31	-0.03
Calmar ratio Return relative to maximum drawdown	2.16	2.23	-0.07
Martin ratio Return relative to average drawdown	7.02	7.13	-0.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CORP vs. BOND - Sharpe Ratio Comparison

The current CORP Sharpe Ratio is 1.54, which is comparable to the BOND Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of CORP and BOND, 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

	CORP	BOND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.54	1.70	-0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	0.09	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.43	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.63	-0.07

Drawdowns

CORP vs. BOND - Drawdown Comparison

The maximum CORP drawdown since its inception was -21.21%, which is greater than BOND's maximum drawdown of -19.71%. Use the drawdown chart below to compare losses from any high point for CORP and BOND.

Drawdown Indicators

	CORP	BOND	Difference
Max Drawdown Largest peak-to-trough decline	-21.21%	-19.71%	-1.50%
Max Drawdown (1Y) Largest decline over 1 year	-2.88%	-3.01%	+0.13%
Max Drawdown (3Y) Largest decline over 3 years	-6.06%	-6.12%	+0.06%
Max Drawdown (5Y) Largest decline over 5 years	-21.21%	-19.71%	-1.50%
Max Drawdown (10Y) Largest decline over 10 years	-21.21%	-19.71%	-1.50%
Current Drawdown Current decline from peak	-0.85%	-1.57%	+0.72%
Average Drawdown Average peak-to-trough decline	-3.61%	-3.50%	-0.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	0.94%	-0.06%

Volatility

CORP vs. BOND - Volatility Comparison

PIMCO Investment Grade Corporate Bond Index ETF (CORP) and PIMCO Active Bond ETF (BOND) have volatilities of 1.37% and 1.40%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CORP	BOND	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.37%	1.40%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	3.01%	2.88%	+0.13%
Volatility (1Y) Calculated over the trailing 1-year period	4.18%	3.97%	+0.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.89%	5.76%	+1.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.08%	5.09%	+1.99%

CORP vs. BOND - Expense Ratio Comparison

CORP has a 0.20% expense ratio, which is lower than BOND's 0.54% expense ratio.

Dividends

CORP vs. BOND - Dividend Comparison

CORP's dividend yield for the trailing twelve months is around 4.84%, less than BOND's 5.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BOND PIMCO Active Bond ETF	5.19%	5.11%	5.02%	4.06%	3.44%	2.58%	2.66%	3.38%	3.18%	2.87%	2.85%	4.14%
CORP PIMCO Investment Grade Corporate Bond Index ETF	4.84%	4.77%	4.74%	4.12%	3.28%	2.51%	2.90%	3.25%	3.18%	3.08%	2.91%	3.14%

Frequently Asked Questions

Can I hold both CORP and BOND in my portfolio?

With a correlation of 0.93, CORP and BOND 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, CORP or BOND?

BOND has higher volatility (1.40%) compared to CORP (1.37%). In terms of maximum drawdown, CORP dropped -21.21% vs BOND's -19.71%.

Which ETF is better, CORP or BOND?

On 10-year performance, CORP leads with 2.81% vs 2.16% for BOND. On fees, CORP is cheaper at 0.20% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CORP or BOND?

Over the 10-year period, CORP has performed better with a 2.81% return vs 2.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CORP or BOND?

CORP is cheaper with a 0.20% expense ratio, compared with 0.54% for BOND.

Which ETF pays a higher dividend yield, CORP or BOND?

BOND has the higher dividend yield at 5.19%, compared with 4.84% for CORP.

What is the main difference between CORP and BOND?

CORP is categorized as Corporate Bonds, while BOND is Intermediate Core-Plus Bond. Their fees differ too: 0.20% for CORP and 0.54% for BOND.

Which has better risk-adjusted returns?

BOND currently has the higher Sharpe Ratio (1.70 vs 1.54), 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.