FLIA vs. PYLD

Last updated Jun 4, 2026

FLIA (Franklin Liberty International Aggregate Bond ETF) and PYLD (PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund) are both exchange-traded funds - FLIA is a International Government Bonds fund actively managed by Franklin Templeton, while PYLD is a Multisector Bonds fund actively managed by PIMCO. Both are actively managed. Over the past year, FLIA returned 2.12% vs 7.40% for PYLD. A 0.58 correlation means they provide meaningful diversification when combined. FLIA charges 0.25%/yr vs 0.55%/yr for PYLD.

Performance

FLIA vs. PYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Liberty International Aggregate Bond ETF (FLIA) and PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLIA achieves a 1.03% return, which is significantly higher than PYLD's 0.95% return.

FLIA

• 1D: -0.20%
• 1M: 0.78%
• YTD: 1.03%
• 6M: 0.59%
• 1Y: 2.12%
• 3Y*: 3.38%
• 5Y*: 0.89%
• 10Y*: —

PYLD

• 1D: -0.23%
• 1M: 0.53%
• YTD: 0.95%
• 6M: 1.31%
• 1Y: 7.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FLIA vs. PYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FLIA Franklin Liberty International Aggregate Bond ETF	1.03%	2.12%	2.42%	4.64%
PYLD PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund	0.95%	9.57%	7.69%	5.60%

Correlation

The correlation between FLIA and PYLD 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 (All Time) Calculated using the full available price history since Jun 23, 2023	0.58

The correlation between FLIA and PYLD has been stable across timeframes, ranging from 0.55 to 0.58 - a consistent structural relationship.

FLIA vs. PYLD - Sectors Allocation Comparison

Sectors	FLIA	PYLD
Financial Services	1.7%	-
Technology	0.8%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	100.0%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

FLIA vs. PYLD — Risk / Return Rank

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

FLIA

FLIA Risk / Return Rank: 20
FLIA Sharpe Ratio Rank: 19
FLIA Sortino Ratio Rank: 18
FLIA Omega Ratio Rank: 18
FLIA Calmar Ratio Rank: 23
FLIA Martin Ratio Rank: 22

PYLD

PYLD Risk / Return Rank: 66
PYLD Sharpe Ratio Rank: 72
PYLD Sortino Ratio Rank: 78
PYLD Omega Ratio Rank: 79
PYLD Calmar Ratio Rank: 45
PYLD Martin Ratio Rank: 58

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.

FLIA vs. PYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Liberty International Aggregate Bond ETF (FLIA) and PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD). 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.

	FLIA	PYLD	Difference
Sharpe ratio: Return per unit of total volatility	0.64	2.42	-1.78
Sortino ratio: Return per unit of downside risk	0.93	3.56	-2.63
Omega ratio: Gain probability vs. loss probability	1.11	1.48	-0.36
Calmar ratio: Return relative to maximum drawdown	1.04	2.29	-1.25
Martin ratio: Return relative to average drawdown	2.77	10.44	-7.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLIA vs. PYLD - Sharpe Ratio Comparison

The current FLIA Sharpe Ratio is 0.64, which is lower than the PYLD Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of FLIA and PYLD, 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

	FLIA	PYLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.64	2.42	-1.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.20	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	2.04	-1.82

Drawdowns

FLIA vs. PYLD - Drawdown Comparison

The maximum FLIA drawdown since its inception was -11.24%, which is greater than PYLD's maximum drawdown of -4.52%. Use the drawdown chart below to compare losses from any high point for FLIA and PYLD.

Drawdown Indicators

	FLIA	PYLD	Difference
Max Drawdown Largest peak-to-trough decline	-11.24%	-4.52%	-6.72%
Max Drawdown (1Y) Largest decline over 1 year	-2.04%	-3.25%	+1.21%
Max Drawdown (3Y) Largest decline over 3 years	-2.77%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-9.42%	—	—
Current Drawdown Current decline from peak	-0.79%	-0.44%	-0.35%
Average Drawdown Average peak-to-trough decline	-3.80%	-0.65%	-3.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.77%	0.71%	+0.06%

Volatility

FLIA vs. PYLD - Volatility Comparison

Franklin Liberty International Aggregate Bond ETF (FLIA) and PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD) have volatilities of 1.18% and 1.24%, 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

	FLIA	PYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.18%	1.24%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	2.49%	2.50%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	3.34%	3.08%	+0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.42%	3.99%	+0.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.71%	3.99%	+0.72%

FLIA vs. PYLD - Expense Ratio Comparison

FLIA has a 0.25% expense ratio, which is lower than PYLD's 0.55% expense ratio.

Dividends

FLIA vs. PYLD - Dividend Comparison

FLIA's dividend yield for the trailing twelve months is around 2.70%, less than PYLD's 6.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FLIA Franklin Liberty International Aggregate Bond ETF	2.70%	2.62%	2.97%	0.93%	18.12%	2.26%	0.43%	2.93%	1.23%
PYLD PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund	6.30%	6.21%	6.40%	2.72%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FLIA and PYLD in my portfolio?

FLIA and PYLD 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.

Which is riskier, FLIA or PYLD?

PYLD has higher volatility (1.24%) compared to FLIA (1.18%). In terms of maximum drawdown, FLIA dropped -11.24% vs PYLD's -4.52%.

Which ETF is better, FLIA or PYLD?

On 1-year performance, PYLD leads with 7.40% vs 2.12% for FLIA. On fees, FLIA is cheaper at 0.25% 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, FLIA or PYLD?

Over the 1-year period, PYLD has performed better with a 7.40% return vs 2.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLIA or PYLD?

FLIA is cheaper with a 0.25% expense ratio, compared with 0.55% for PYLD.

Which ETF pays a higher dividend yield, FLIA or PYLD?

PYLD has the higher dividend yield at 6.30%, compared with 2.70% for FLIA.

What is the main difference between FLIA and PYLD?

FLIA is categorized as International Government Bonds, while PYLD is Multisector Bonds. They also come from different issuers: Franklin Templeton and PIMCO. Their fees differ too: 0.25% for FLIA and 0.55% for PYLD.

Which has better risk-adjusted returns?

PYLD currently has the higher Sharpe Ratio (2.42 vs 0.64), 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.