IBND vs. PFUIX

Last updated Jun 3, 2026

IBND (SPDR Bloomberg Barclays International Corporate Bond ETF) and PFUIX (PIMCO International Bond Fund (Unhedged)) are both funds - IBND is a Corporate Bonds fund tracking the Bloomberg Global Aggregate x USD >$1B: Corporate Bond, while PFUIX is a Global Bonds fund managed by PIMCO. Over the past 10 years, IBND returned 0.69%/yr vs 0.59%/yr for PFUIX. A 0.73 correlation means they provide meaningful diversification when combined. Both charge a 0.50% expense ratio.

Performance

IBND vs. PFUIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Bloomberg Barclays International Corporate Bond ETF (IBND) and PIMCO International Bond Fund (Unhedged) (PFUIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBND achieves a -0.64% return, which is significantly higher than PFUIX's -0.96% return. Over the past 10 years, IBND has outperformed PFUIX with an annualized return of 0.69%, while PFUIX has yielded a comparatively lower 0.59% annualized return.

IBND

• 1D: 0.06%
• 1M: -0.05%
• YTD: -0.64%
• 6M: 0.40%
• 1Y: 2.89%
• 3Y*: 6.85%
• 5Y*: -1.32%
• 10Y*: 0.69%

PFUIX

• 1D: -0.52%
• 1M: 0.07%
• YTD: -0.96%
• 6M: 0.00%
• 1Y: 1.13%
• 3Y*: 4.52%
• 5Y*: -2.32%
• 10Y*: 0.59%

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

IBND vs. PFUIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IBND SPDR Bloomberg Barclays International Corporate Bond ETF	-0.64%	16.17%	-2.81%	10.38%	-19.44%	-8.40%	11.50%	4.41%	-6.15%	14.84%
PFUIX PIMCO International Bond Fund (Unhedged)	-0.96%	10.90%	-1.64%	6.42%	-19.10%	-6.08%	12.32%	7.09%	-3.64%	10.82%

Correlation

The correlation between IBND and PFUIX is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since May 21, 2010	0.73

The correlation between IBND and PFUIX shifts across timeframes, from 0.73 (all time) to 0.89 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

IBND vs. PFUIX — Risk / Return Rank

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

IBND

IBND Risk / Return Rank: 14
IBND Sharpe Ratio Rank: 14
IBND Sortino Ratio Rank: 13
IBND Omega Ratio Rank: 13
IBND Calmar Ratio Rank: 15
IBND Martin Ratio Rank: 15

PFUIX

PFUIX Risk / Return Rank: 4
PFUIX Sharpe Ratio Rank: 4
PFUIX Sortino Ratio Rank: 4
PFUIX Omega Ratio Rank: 4
PFUIX Calmar Ratio Rank: 4
PFUIX Martin Ratio Rank: 5

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.

IBND vs. PFUIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays International Corporate Bond ETF (IBND) and PIMCO International Bond Fund (Unhedged) (PFUIX). 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.

	IBND	PFUIX	Difference
Sharpe ratio Return per unit of total volatility	0.36	0.24	+0.12
Sortino ratio Return per unit of downside risk	0.58	0.41	+0.17
Omega ratio Gain probability vs. loss probability	1.07	1.05	+0.02
Calmar ratio Return relative to maximum drawdown	0.51	0.42	+0.10
Martin ratio Return relative to average drawdown	1.41	1.16	+0.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBND vs. PFUIX - Sharpe Ratio Comparison

The current IBND Sharpe Ratio is 0.36, which is higher than the PFUIX Sharpe Ratio of 0.24. The chart below compares the historical Sharpe Ratios of IBND and PFUIX, 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

	IBND	PFUIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.36	0.24	+0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.14	-0.30	+0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.08	0.08	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.37	-0.22

Drawdowns

IBND vs. PFUIX - Drawdown Comparison

The maximum IBND drawdown since its inception was -35.62%, which is greater than PFUIX's maximum drawdown of -31.90%. Use the drawdown chart below to compare losses from any high point for IBND and PFUIX.

Drawdown Indicators

	IBND	PFUIX	Difference
Max Drawdown Largest peak-to-trough decline	-35.62%	-31.90%	-3.72%
Max Drawdown (1Y) Largest decline over 1 year	-6.75%	-6.40%	-0.35%
Max Drawdown (3Y) Largest decline over 3 years	-9.18%	-7.69%	-1.49%
Max Drawdown (5Y) Largest decline over 5 years	-34.32%	-30.30%	-4.02%
Max Drawdown (10Y) Largest decline over 10 years	-35.62%	-31.90%	-3.72%
Current Drawdown Current decline from peak	-9.05%	-13.30%	+4.25%
Average Drawdown Average peak-to-trough decline	-10.64%	-7.98%	-2.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.45%	2.29%	+0.16%

Volatility

IBND vs. PFUIX - Volatility Comparison

The current volatility for SPDR Bloomberg Barclays International Corporate Bond ETF (IBND) is 2.05%, while PIMCO International Bond Fund (Unhedged) (PFUIX) has a volatility of 2.40%. This indicates that IBND experiences smaller price fluctuations and is considered to be less risky than PFUIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBND	PFUIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.05%	2.40%	-0.35%
Volatility (6M) Calculated over the trailing 6-month period	6.13%	5.79%	+0.34%
Volatility (1Y) Calculated over the trailing 1-year period	7.98%	7.34%	+0.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.75%	7.69%	+2.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.94%	7.39%	+1.55%

IBND vs. PFUIX - Expense Ratio Comparison

Both IBND and PFUIX have an expense ratio of 0.50%.

Dividends

IBND vs. PFUIX - Dividend Comparison

IBND's dividend yield for the trailing twelve months is around 2.73%, less than PFUIX's 4.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IBND SPDR Bloomberg Barclays International Corporate Bond ETF	2.73%	2.49%	2.61%	2.08%	0.54%	0.38%	0.45%	0.67%	0.71%	0.34%	0.01%	0.01%
PFUIX PIMCO International Bond Fund (Unhedged)	4.03%	3.98%	4.10%	2.98%	2.83%	5.07%	1.57%	2.28%	4.39%	1.41%	1.98%	1.94%

Frequently Asked Questions

Can I hold both IBND and PFUIX in my portfolio?

IBND and PFUIX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBND or PFUIX?

PFUIX has higher volatility (2.40%) compared to IBND (2.05%). In terms of maximum drawdown, IBND dropped -35.62% vs PFUIX's -31.90%.

Which has better risk-adjusted returns?

IBND currently has the higher Sharpe Ratio (0.36 vs 0.24), 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.