EUHY vs. PGBIX
EUHY (iShares Euro High Yield Corporate Bond USD Hedged ETF) and PGBIX (PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) Class I) are both funds - EUHY is a High Yield Bonds fund tracking the BBG Pan-European High Yield (Euro) Total Return 100% USD Hedged Index, while PGBIX is a Global Bonds fund actively managed by PIMCO. EUHY is passively managed, while PGBIX is actively managed. Over the past 10 years, EUHY returned 3.67%/yr vs 3.23%/yr for PGBIX. At a 0.18 correlation, their price movements are largely independent. EUHY charges 0.35%/yr vs 0.55%/yr for PGBIX.
Performance
EUHY vs. PGBIX - Performance Comparison
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Returns By Period
In the year-to-date period, EUHY achieves a 2.05% return, which is significantly higher than PGBIX's -0.66% return. Over the past 10 years, EUHY has outperformed PGBIX with an annualized return of 3.67%, while PGBIX has yielded a comparatively lower 3.23% annualized return.
EUHY
- 1D
- 0.12%
- 1M
- 0.98%
- YTD
- 2.05%
- 6M
- 2.59%
- 1Y
- 5.75%
- 3Y*
- 9.92%
- 5Y*
- 1.97%
- 10Y*
- 3.67%
PGBIX
- 1D
- -0.21%
- 1M
- 0.83%
- YTD
- -0.66%
- 6M
- -0.83%
- 1Y
- 4.56%
- 3Y*
- 5.72%
- 5Y*
- 2.43%
- 10Y*
- 3.23%
EUHY vs. PGBIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EUHY iShares Euro High Yield Corporate Bond USD Hedged ETF | 2.05% | 17.41% | -0.55% | 16.06% | -15.59% | -3.78% | 10.69% | 8.60% | -7.71% | 19.68% |
PGBIX PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) Class I | -0.66% | 8.61% | 4.38% | 6.94% | -5.74% | -0.49% | 7.33% | 6.78% | -0.45% | 4.33% |
Correlation
The correlation between EUHY and PGBIX is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Apr 4, 2012 | 0.18 |
Over the past year, EUHY and PGBIX have become more correlated (0.55) than their long-term average of 0.18, meaning their price movements have been converging.
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Return for Risk
EUHY vs. PGBIX — Risk / Return Rank
EUHY
PGBIX
EUHY vs. PGBIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Euro High Yield Corporate Bond USD Hedged ETF (EUHY) and PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) Class I (PGBIX). 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.
| EUHY | PGBIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.24 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 1.16 | +0.49 |
| Martin ratioReturn relative to average drawdown | 3.95 | 3.84 | +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. | |||
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Sharpe Ratios by Period
| EUHY | PGBIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.05 | 1.19 | -0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 0.71 | -0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | 1.07 | -0.72 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 1.00 | -0.65 |
Drawdowns
EUHY vs. PGBIX - Drawdown Comparison
The maximum EUHY drawdown since its inception was -32.45%, which is greater than PGBIX's maximum drawdown of -14.22%. Use the drawdown chart below to compare losses from any high point for EUHY and PGBIX.
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Drawdown Indicators
| EUHY | PGBIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.45% | -14.22% | -18.23% |
Max Drawdown (1Y)Largest decline over 1 year | -3.50% | -4.25% | +0.75% |
Max Drawdown (3Y)Largest decline over 3 years | -8.23% | -4.25% | -3.98% |
Max Drawdown (5Y)Largest decline over 5 years | -32.45% | -9.52% | -22.93% |
Max Drawdown (10Y)Largest decline over 10 years | -32.45% | -9.98% | -22.47% |
Current DrawdownCurrent decline from peak | -0.03% | -1.64% | +1.61% |
Average DrawdownAverage peak-to-trough decline | -8.58% | -2.15% | -6.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.46% | 1.28% | +0.18% |
Volatility
EUHY vs. PGBIX - Volatility Comparison
The current volatility for iShares Euro High Yield Corporate Bond USD Hedged ETF (EUHY) is 1.07%, while PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) Class I (PGBIX) has a volatility of 1.46%. This indicates that EUHY experiences smaller price fluctuations and is considered to be less risky than PGBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EUHY | PGBIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.07% | 1.46% | -0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 2.88% | 3.59% | -0.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.51% | 4.13% | +1.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.00% | 3.44% | +6.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.43% | 3.03% | +7.40% |
EUHY vs. PGBIX - Expense Ratio Comparison
EUHY has a 0.35% expense ratio, which is lower than PGBIX's 0.55% expense ratio.
Dividends
EUHY vs. PGBIX - Dividend Comparison
EUHY's dividend yield for the trailing twelve months is around 5.33%, more than PGBIX's 5.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUHY iShares Euro High Yield Corporate Bond USD Hedged ETF | 5.33% | 3.56% | 5.11% | 3.38% | 0.61% | 3.07% | 1.45% | 1.19% | 4.01% | 0.69% | 1.70% | 3.24% |
PGBIX PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) Class I | 5.05% | 4.79% | 4.07% | 2.33% | 7.55% | 2.95% | 2.24% | 4.10% | 2.14% | 3.09% | 2.58% | 5.81% |
Frequently Asked Questions
EUHY and PGBIX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PGBIX has higher volatility (1.46%) compared to EUHY (1.07%). In terms of maximum drawdown, EUHY dropped -32.45% vs PGBIX's -14.22%.
PGBIX currently has the higher Sharpe Ratio (1.19 vs 1.05), 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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