CORP vs. MFDX
CORP (PIMCO Investment Grade Corporate Bond Index ETF) and MFDX (PIMCO RAFI Dynamic Multi-Factor International Equity ETF) are both exchange-traded funds - CORP is a Corporate Bonds fund tracking the ICE BofA US Corporate, while MFDX is a Foreign Large Cap Equities fund tracking the RAFI Dynamic Multi-Factor Developed Ex-U.S. Index. Both are passively managed. Over the past 5 years, CORP returned 0.92%/yr vs 9.92%/yr for MFDX. At a 0.25 correlation, their price movements are largely independent. CORP charges 0.20%/yr vs 0.39%/yr for MFDX.
Performance
CORP vs. MFDX - Performance Comparison
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Returns By Period
In the year-to-date period, CORP achieves a 0.57% return, which is significantly lower than MFDX's 9.73% return.
CORP
- 1D
- -0.21%
- 1M
- 0.55%
- YTD
- 0.57%
- 6M
- 0.40%
- 1Y
- 6.11%
- 3Y*
- 5.48%
- 5Y*
- 0.92%
- 10Y*
- 2.79%
MFDX
- 1D
- -0.55%
- 1M
- 2.31%
- YTD
- 9.73%
- 6M
- 12.33%
- 1Y
- 23.13%
- 3Y*
- 18.62%
- 5Y*
- 9.92%
- 10Y*
- —
CORP vs. MFDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CORP PIMCO Investment Grade Corporate Bond Index ETF | 0.57% | 7.96% | 2.47% | 9.13% | -14.96% | -1.18% | 9.70% | 14.80% | -3.29% | 1.04% |
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF | 9.73% | 34.27% | 4.40% | 17.54% | -10.27% | 11.07% | 6.90% | 19.88% | -14.88% | 7.02% |
Correlation
The correlation between CORP and MFDX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2017 | 0.25 |
Over the past year, CORP and MFDX have become more correlated (0.48) than their long-term average of 0.25, meaning their price movements have been converging.
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Return for Risk
CORP vs. MFDX — Risk / Return Rank
CORP
MFDX
CORP vs. MFDX - 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 RAFI Dynamic Multi-Factor International Equity ETF (MFDX). 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 | MFDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.31 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.13 | 2.18 | -0.05 |
| Martin ratioReturn relative to average drawdown | 6.90 | 8.66 | -1.76 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CORP | MFDX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.47 | 1.70 | -0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.13 | 0.66 | -0.53 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.40 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.54 | +0.02 |
Drawdowns
CORP vs. MFDX - Drawdown Comparison
The maximum CORP drawdown since its inception was -21.21%, smaller than the maximum MFDX drawdown of -36.05%. Use the drawdown chart below to compare losses from any high point for CORP and MFDX.
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Drawdown Indicators
| CORP | MFDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.21% | -36.05% | +14.84% |
Max Drawdown (1Y)Largest decline over 1 year | -2.88% | -10.66% | +7.78% |
Max Drawdown (3Y)Largest decline over 3 years | -6.06% | -11.62% | +5.56% |
Max Drawdown (5Y)Largest decline over 5 years | -21.21% | -25.58% | +4.37% |
Max Drawdown (10Y)Largest decline over 10 years | -21.21% | — | — |
Current DrawdownCurrent decline from peak | -1.06% | -1.84% | +0.78% |
Average DrawdownAverage peak-to-trough decline | -3.61% | -6.50% | +2.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 2.68% | -1.79% |
Volatility
CORP vs. MFDX - Volatility Comparison
The current volatility for PIMCO Investment Grade Corporate Bond Index ETF (CORP) is 1.33%, while PIMCO RAFI Dynamic Multi-Factor International Equity ETF (MFDX) has a volatility of 4.45%. This indicates that CORP experiences smaller price fluctuations and is considered to be less risky than MFDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CORP | MFDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.33% | 4.45% | -3.12% |
Volatility (6M)Calculated over the trailing 6-month period | 2.99% | 11.34% | -8.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.18% | 13.73% | -9.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.89% | 15.03% | -8.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.08% | 16.41% | -9.33% |
CORP vs. MFDX - Expense Ratio Comparison
CORP has a 0.20% expense ratio, which is lower than MFDX's 0.39% expense ratio.
Dividends
CORP vs. MFDX - Dividend Comparison
CORP's dividend yield for the trailing twelve months is around 4.85%, more than MFDX's 2.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CORP PIMCO Investment Grade Corporate Bond Index ETF | 4.85% | 4.77% | 4.74% | 4.12% | 3.28% | 2.51% | 2.90% | 3.25% | 3.18% | 3.08% | 2.91% | 3.14% |
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF | 2.79% | 2.97% | 3.16% | 3.12% | 2.85% | 2.99% | 1.58% | 2.88% | 2.13% | 0.71% | 0.00% | 0.00% |
Frequently Asked Questions
CORP and MFDX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MFDX has higher volatility (4.45%) compared to CORP (1.33%). In terms of maximum drawdown, CORP dropped -21.21% vs MFDX's -36.05%.
On 5-year performance, MFDX leads with 9.92% vs 0.92% for CORP. On fees, CORP is cheaper at 0.20% per year. On volatility, CORP has been the lower-risk option at 1.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, MFDX has performed better with a 9.92% return vs 0.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CORP is cheaper with a 0.20% expense ratio, compared with 0.39% for MFDX.
CORP has the higher dividend yield at 4.85%, compared with 2.79% for MFDX.
CORP is categorized as Corporate Bonds, while MFDX is Foreign Large Cap Equities. CORP tracks ICE BofA US Corporate, while MFDX tracks RAFI Dynamic Multi-Factor Developed Ex-U.S. Index. Their fees differ too: 0.20% for CORP and 0.39% for MFDX.
MFDX currently has the higher Sharpe Ratio (1.70 vs 1.47), 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.
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