HFR.TO vs. PMNT.TO
HFR.TO (Global X Active Ultra-Short Term Investment Grade Bond ETF) and PMNT.TO (PIMCO Global Short Maturity Fund (Canada)) are both Ultrashort Bond funds. Both are actively managed. Over the past 5 years, HFR.TO returned 3.94%/yr vs 2.97%/yr for PMNT.TO. Their 0.03 correlation means their historical movements had little consistent relationship. HFR.TO charges 0.46%/yr vs 0.39%/yr for PMNT.TO.
Performance
HFR.TO vs. PMNT.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with HFR.TO having a 1.72% return and PMNT.TO slightly lower at 1.69%.
HFR.TO
- 1D
- 0.15%
- 1M
- 0.15%
- 6M
- 1.22%
- YTD
- 1.72%
- 1Y
- 3.22%
- 3Y*
- 5.45%
- 5Y*
- 3.94%
- 10Y*
- 3.27%
- ALL TIME*
- 2.88%
PMNT.TO
- 1D
- 0.05%
- 1M
- 0.15%
- 6M
- 1.46%
- YTD
- 1.69%
- 1Y
- 3.01%
- 3Y*
- 4.13%
- 5Y*
- 2.97%
- 10Y*
- —
- ALL TIME*
- 2.53%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$431.61K | CA$415.88K | CA$491.02K | |
| CA$78.37K | CA$50.53K | CA$54.61K |
HFR.TO vs. PMNT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
HFR.TO Global X Active Ultra-Short Term Investment Grade Bond ETF | 1.72% | 4.04% | 6.89% | 7.86% | -0.77% | 0.68% | 3.52% | 3.55% |
PMNT.TO PIMCO Global Short Maturity Fund (Canada) | 1.69% | 3.11% | 5.26% | 5.42% | -0.37% | 0.35% | 1.21% | 2.41% |
Correlation
The correlation between HFR.TO and PMNT.TO is -0.00, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.00 |
Correlation (3Y) Balances recent behavior with more history. | -0.01 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.04 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2019 | 0.03 |
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Return for Risk
HFR.TO vs. PMNT.TO — Risk / Return Rank
HFR.TO
PMNT.TO
HFR.TO vs. PMNT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Active Ultra-Short Term Investment Grade Bond ETF (HFR.TO) and PIMCO Global Short Maturity Fund (Canada) (PMNT.TO). 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.
| HFR.TO | PMNT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.84 | ||
| Sortino ratioReturn per unit of downside risk | +1.62 | ||
| Omega ratioGain probability vs. loss probability | 1.62 | 1.45 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 8.07 | 4.80 | +3.27 |
| Martin ratioReturn relative to average drawdown | 30.51 | 15.95 | +14.56 |
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Drawdowns
HFR.TO vs. PMNT.TO - Drawdown Comparison
The maximum HFR.TO drawdown since its inception was -22.56%, which is greater than PMNT.TO's maximum drawdown of -6.81%. Use the drawdown chart below to compare losses from any high point for HFR.TO and PMNT.TO.
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Drawdown Indicators
| HFR.TO | PMNT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.56% | -6.81% | -15.75% |
Max Drawdown (1Y)Largest decline over 1 year | -0.40% | -0.63% | +0.23% |
Max Drawdown (3Y)Largest decline over 3 years | -0.52% | -1.15% | +0.63% |
Max Drawdown (5Y)Largest decline over 5 years | -3.51% | -1.94% | -1.57% |
Max Drawdown (10Y)Largest decline over 10 years | -22.56% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.37% | -0.36% | -0.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.11% | 0.19% | -0.08% |
Volatility
HFR.TO vs. PMNT.TO - Volatility Comparison
Global X Active Ultra-Short Term Investment Grade Bond ETF (HFR.TO) has a higher volatility of 0.32% compared to PIMCO Global Short Maturity Fund (Canada) (PMNT.TO) at 0.28%. This indicates that HFR.TO's price experiences larger fluctuations and is considered to be riskier than PMNT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HFR.TO | PMNT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.32% | 0.28% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 0.89% | 0.71% | +0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.24% | 1.70% | -0.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.78% | 2.13% | -0.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.77% | 3.18% | +2.59% |
HFR.TO vs. PMNT.TO - Expense Ratio Comparison
HFR.TO has a 0.46% expense ratio, which is higher than PMNT.TO's 0.39% expense ratio.
Dividends
HFR.TO vs. PMNT.TO - Dividend Comparison
HFR.TO's dividend yield for the trailing twelve months is around 3.58%, less than PMNT.TO's 4.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HFR.TO Global X Active Ultra-Short Term Investment Grade Bond ETF | 3.58% | 3.76% | 4.50% | 5.67% | 3.40% | 1.28% | 2.69% | 2.60% | 2.36% | 2.12% | 2.00% | 2.14% |
PMNT.TO PIMCO Global Short Maturity Fund (Canada) | 4.38% | 4.65% | 5.48% | 4.92% | 2.60% | 1.17% | 2.68% | 2.09% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HFR.TO and PMNT.TO have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PMNT.TO is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PMNT.TO is cheaper with a 0.39% expense ratio, compared with 0.46% for HFR.TO.
They also come from different issuers: Global X and PIMCO. Their fees differ too: 0.46% for HFR.TO and 0.39% for PMNT.TO.
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