GCMFX vs. PFORX
GCMFX (PIMCO California Municipal Opportunistic Value Fund) and PFORX (PIMCO International Bond Fund (U.S. Dollar-Hedged)) are both mutual funds - GCMFX is a Municipal Bonds fund managed by PIMCO, while PFORX is a Global Bonds fund managed by PIMCO. Over the past 10 years, GCMFX returned 1.90%/yr vs 2.55%/yr for PFORX. Their 0.46 correlation means their historical movements had little consistent relationship. GCMFX charges 0.63%/yr vs 0.50%/yr for PFORX.
Performance
GCMFX vs. PFORX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GCMFX achieves a 0.89% return, which is significantly higher than PFORX's -0.58% return. Over the past 10 years, GCMFX has underperformed PFORX with an annualized return of 1.90%, while PFORX has yielded a comparatively higher 2.55% annualized return.
GCMFX
- 1D
- -0.21%
- 1M
- -1.73%
- 6M
- 0.61%
- YTD
- 0.89%
- 1Y
- 5.50%
- 3Y*
- 2.86%
- 5Y*
- 1.50%
- 10Y*
- 1.90%
- ALL TIME*
- 1.85%
PFORX
- 1D
- 0.00%
- 1M
- -1.43%
- 6M
- -1.08%
- YTD
- -0.58%
- 1Y
- 1.31%
- 3Y*
- 4.93%
- 5Y*
- 1.19%
- 10Y*
- 2.55%
- ALL TIME*
- 5.53%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
GCMFX vs. PFORX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GCMFX PIMCO California Municipal Opportunistic Value Fund | 0.89% | 2.76% | 2.24% | 5.22% | -3.47% | 1.76% | 2.69% | 5.06% | 1.83% | 2.96% |
PFORX PIMCO International Bond Fund (U.S. Dollar-Hedged) | -0.58% | 4.33% | 5.70% | 9.52% | -10.33% | -1.67% | 6.17% | 7.64% | 2.64% | 3.52% |
Correlation
The correlation between GCMFX and PFORX is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.65 |
Correlation (3Y) Balances recent behavior with more history. | 0.60 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.56 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.48 |
Correlation (All Time) Calculated using the full available price history since Nov 3, 2014 | 0.46 |
The correlation between GCMFX and PFORX shifts across timeframes, from 0.46 (all time) to 0.65 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GCMFX vs. PFORX — Risk / Return Rank
GCMFX
PFORX
GCMFX vs. PFORX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO California Municipal Opportunistic Value Fund (GCMFX) and PIMCO International Bond Fund (U.S. Dollar-Hedged) (PFORX). 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.
| GCMFX | PFORX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.02 | ||
| Sortino ratioReturn per unit of downside risk | +3.32 | ||
| Omega ratioGain probability vs. loss probability | 1.64 | 1.10 | +0.54 |
| Calmar ratioReturn relative to maximum drawdown | 2.87 | 0.48 | +2.40 |
| Martin ratioReturn relative to average drawdown | 10.22 | 1.33 | +8.89 |
Loading charts...
Drawdowns
GCMFX vs. PFORX - Drawdown Comparison
The maximum GCMFX drawdown since its inception was -7.08%, smaller than the maximum PFORX drawdown of -13.87%. Use the drawdown chart below to compare losses from any high point for GCMFX and PFORX.
Loading charts...
Drawdown Indicators
| GCMFX | PFORX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.08% | -13.87% | +6.79% |
Max Drawdown (1Y)Largest decline over 1 year | -2.24% | -3.99% | +1.75% |
Max Drawdown (3Y)Largest decline over 3 years | -4.96% | -3.99% | -0.97% |
Max Drawdown (5Y)Largest decline over 5 years | -7.08% | -13.71% | +6.63% |
Max Drawdown (10Y)Largest decline over 10 years | -7.08% | -13.87% | +6.79% |
Current DrawdownCurrent decline from peak | -1.73% | -2.06% | +0.33% |
Average DrawdownAverage peak-to-trough decline | -1.02% | -1.95% | +0.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.63% | 1.43% | -0.80% |
Volatility
GCMFX vs. PFORX - Volatility Comparison
The current volatility for PIMCO California Municipal Opportunistic Value Fund (GCMFX) is 0.76%, while PIMCO International Bond Fund (U.S. Dollar-Hedged) (PFORX) has a volatility of 1.01%. This indicates that GCMFX experiences smaller price fluctuations and is considered to be less risky than PFORX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GCMFX | PFORX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.76% | 1.01% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 2.04% | 3.48% | -1.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.57% | 3.88% | -1.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.23% | 3.65% | -0.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.78% | 3.16% | -0.38% |
GCMFX vs. PFORX - Expense Ratio Comparison
GCMFX has a 0.63% expense ratio, which is higher than PFORX's 0.50% expense ratio.
Dividends
GCMFX vs. PFORX - Dividend Comparison
GCMFX's dividend yield for the trailing twelve months is around 3.17%, less than PFORX's 3.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GCMFX PIMCO California Municipal Opportunistic Value Fund | 3.17% | 3.39% | 3.34% | 2.59% | 1.91% | 2.34% | 2.65% | 2.56% | 2.40% | 1.51% | 0.17% | 0.00% |
PFORX PIMCO International Bond Fund (U.S. Dollar-Hedged) | 3.71% | 4.23% | 4.91% | 3.02% | 3.65% | 1.55% | 2.46% | 6.86% | 2.90% | 1.46% | 1.38% | 9.12% |
Frequently Asked Questions
GCMFX and PFORX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFORX has higher volatility (1.01%) compared to GCMFX (0.76%). In terms of maximum drawdown, GCMFX dropped -7.08% vs PFORX's -13.87%.
GCMFX currently has the higher Sharpe Ratio (2.51 vs 0.49), 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.
Find the right allocation for GCMFX and PFORX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer