FLCO vs. BOND
FLCO (Franklin Liberty Investment Grade Corporate ETF) and BOND (PIMCO Active Bond ETF) are both exchange-traded funds - FLCO is a Corporate Bonds fund actively managed by Franklin Templeton, while BOND is a Intermediate Core-Plus Bond fund actively managed by PIMCO. Both are actively managed. Over the past 5 years, FLCO returned 0.03%/yr vs 0.48%/yr for BOND. A 0.77 correlation means they provide meaningful diversification when combined. FLCO charges 0.35%/yr vs 0.54%/yr for BOND.
Performance
FLCO vs. BOND - Performance Comparison
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Returns By Period
In the year-to-date period, FLCO achieves a 0.67% return, which is significantly lower than BOND's 0.82% return.
FLCO
- 1D
- 0.12%
- 1M
- 0.76%
- YTD
- 0.67%
- 6M
- 0.83%
- 1Y
- 4.78%
- 3Y*
- 5.00%
- 5Y*
- 0.03%
- 10Y*
- —
BOND
- 1D
- 0.16%
- 1M
- 0.93%
- YTD
- 0.82%
- 6M
- 0.96%
- 1Y
- 5.76%
- 3Y*
- 5.13%
- 5Y*
- 0.48%
- 10Y*
- 2.17%
FLCO vs. BOND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FLCO Franklin Liberty Investment Grade Corporate ETF | 0.67% | 7.53% | 1.93% | 7.94% | -16.08% | -2.06% | 10.01% | 14.82% | -3.06% | 5.98% |
BOND PIMCO Active Bond ETF | 0.82% | 8.39% | 2.77% | 6.48% | -14.57% | -0.77% | 7.80% | 8.54% | 0.08% | 4.76% |
Correlation
The correlation between FLCO and BOND is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Oct 5, 2016 | 0.77 |
The correlation between FLCO and BOND shifts across timeframes, from 0.77 (all time) to 0.92 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FLCO vs. BOND — Risk / Return Rank
FLCO
BOND
FLCO vs. BOND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Liberty Investment Grade Corporate ETF (FLCO) 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.
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.
| FLCO | BOND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.26 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 1.92 | -0.18 |
| Martin ratioReturn relative to average drawdown | 5.12 | 5.79 | -0.67 |
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Drawdowns
FLCO vs. BOND - Drawdown Comparison
The maximum FLCO drawdown since its inception was -22.71%, which is greater than BOND's maximum drawdown of -19.71%. Use the drawdown chart below to compare losses from any high point for FLCO and BOND.
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Drawdown Indicators
| FLCO | BOND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.71% | -19.71% | -3.00% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -3.01% | +0.25% |
Max Drawdown (3Y)Largest decline over 3 years | -6.59% | -6.12% | -0.47% |
Max Drawdown (5Y)Largest decline over 5 years | -22.48% | -19.71% | -2.77% |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.71% | — |
Current DrawdownCurrent decline from peak | -2.11% | -1.24% | -0.87% |
Average DrawdownAverage peak-to-trough decline | -5.86% | -3.50% | -2.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 1.00% | -0.06% |
Volatility
FLCO vs. BOND - Volatility Comparison
The current volatility for Franklin Liberty Investment Grade Corporate ETF (FLCO) is 1.17%, while PIMCO Active Bond ETF (BOND) has a volatility of 1.35%. This indicates that FLCO experiences smaller price fluctuations and is considered to be less risky than BOND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLCO | BOND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 1.35% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 3.32% | 3.05% | +0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.39% | 3.98% | +0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.14% | 5.78% | +1.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.82% | 5.10% | +1.72% |
FLCO vs. BOND - Expense Ratio Comparison
FLCO has a 0.35% expense ratio, which is lower than BOND's 0.54% expense ratio.
Dividends
FLCO vs. BOND - Dividend Comparison
FLCO's dividend yield for the trailing twelve months is around 4.64%, less than BOND's 5.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BOND PIMCO Active Bond ETF | 5.17% | 5.11% | 5.02% | 4.06% | 3.44% | 2.58% | 2.66% | 3.38% | 3.18% | 2.87% | 2.85% | 4.14% |
FLCO Franklin Liberty Investment Grade Corporate ETF | 4.64% | 4.60% | 4.63% | 3.83% | 3.85% | 2.85% | 3.99% | 3.39% | 3.86% | 3.33% | 0.51% | 0.00% |
Frequently Asked Questions
With a correlation of 0.92, FLCO 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.
BOND has higher volatility (1.35%) compared to FLCO (1.17%). In terms of maximum drawdown, FLCO dropped -22.71% vs BOND's -19.71%.
On 5-year performance, BOND leads with 0.48% vs 0.03% for FLCO. On fees, FLCO is cheaper at 0.35% per year. On volatility, FLCO has been the lower-risk option at 1.17%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BOND has performed better with a 0.48% return vs 0.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLCO is cheaper with a 0.35% expense ratio, compared with 0.54% for BOND.
BOND has the higher dividend yield at 5.17%, compared with 4.64% for FLCO.
FLCO is categorized as Corporate Bonds, while BOND is Intermediate Core-Plus Bond. They also come from different issuers: Franklin Templeton and PIMCO. Their fees differ too: 0.35% for FLCO and 0.54% for BOND.
BOND currently has the higher Sharpe Ratio (1.46 vs 1.09), 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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