ICPB.TO vs. PCOR.TO

Last updated Jul 25, 2026

ICPB.TO (IA Clarington Agile Core Plus Bond Fund Series ETF) and PCOR.TO (PIMCO Managed Core Bond Pool) are both Intermediate Core-Plus Bond funds. Both are actively managed. Over the past 5 years, ICPB.TO returned 1.80%/yr vs 1.69%/yr for PCOR.TO. At a 0.25 correlation, their price movements are largely independent. Both charge a 0.64% expense ratio.

Performance

ICPB.TO vs. PCOR.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in IA Clarington Agile Core Plus Bond Fund Series ETF (ICPB.TO) and PIMCO Managed Core Bond Pool (PCOR.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ICPB.TO achieves a 0.84% return, which is significantly higher than PCOR.TO's -0.72% return.

ICPB.TO

• 1D: 0.00%
• 1M: -0.69%
• 6M: 0.20%
• YTD: 0.84%
• 1Y: 3.00%
• 3Y*: 4.80%
• 5Y*: 1.80%
• 10Y*: —
• ALL TIME*: 2.76%

PCOR.TO

• 1D: -0.17%
• 1M: -1.49%
• 6M: -1.21%
• YTD: -0.72%
• 1Y: 3.37%
• 3Y*: 5.10%
• 5Y*: 1.69%
• 10Y*: —
• ALL TIME*: 2.03%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ICPB.TO IA Clarington Agile Core Plus Bond Fund Series ETF	CA$109.45K	CA$91.77K	CA$92.24K
PCOR.TO PIMCO Managed Core Bond Pool	CA$100.86K	CA$154.41K	CA$133.29K

ICPB.TO vs. PCOR.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ICPB.TO IA Clarington Agile Core Plus Bond Fund Series ETF	0.84%	3.82%	5.85%	5.99%	-7.24%	2.38%	4.31%
PCOR.TO PIMCO Managed Core Bond Pool	-0.72%	7.70%	3.89%	8.31%	-9.47%	0.70%	3.73%

Correlation

The correlation between ICPB.TO and PCOR.TO is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (All Time) Calculated using the full available price history since Feb 19, 2020	0.25

The correlation between ICPB.TO and PCOR.TO shifts across timeframes, from 0.25 (all time) to 0.40 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

ICPB.TO vs. PCOR.TO — Risk / Return Rank

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

ICPB.TO

ICPB.TO Risk / Return Rank: 34
ICPB.TO Sharpe Ratio Rank: 31
ICPB.TO Sortino Ratio Rank: 29
ICPB.TO Omega Ratio Rank: 28
ICPB.TO Calmar Ratio Rank: 39
ICPB.TO Martin Ratio Rank: 44

PCOR.TO

PCOR.TO Risk / Return Rank: 28
PCOR.TO Sharpe Ratio Rank: 26
PCOR.TO Sortino Ratio Rank: 25
PCOR.TO Omega Ratio Rank: 25
PCOR.TO Calmar Ratio Rank: 33
PCOR.TO Martin Ratio Rank: 31

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.

ICPB.TO vs. PCOR.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IA Clarington Agile Core Plus Bond Fund Series ETF (ICPB.TO) and PIMCO Managed Core Bond Pool (PCOR.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.

	ICPB.TO	PCOR.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.76	0.61	+0.14
Sortino ratio: Return per unit of downside risk	1.09	0.94	+0.15
Omega ratio: Gain probability vs. loss probability	1.13	1.12	+0.02
Calmar ratio: Return relative to maximum drawdown	1.39	1.11	+0.29
Martin ratio: Return relative to average drawdown	4.91	2.86	+2.05

ICPB.TO vs. PCOR.TO - Sharpe Ratio Comparison

The current ICPB.TO Sharpe Ratio is 0.76, which is comparable to the PCOR.TO Sharpe Ratio of 0.61. The chart below compares the historical Sharpe Ratios of ICPB.TO and PCOR.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ICPB.TO vs. PCOR.TO - Drawdown Comparison

The maximum ICPB.TO drawdown since its inception was -16.58%, which is greater than PCOR.TO's maximum drawdown of -13.53%. Use the drawdown chart below to compare losses from any high point for ICPB.TO and PCOR.TO.

Drawdown Indicators

	ICPB.TO	PCOR.TO	Difference
Max Drawdown Largest peak-to-trough decline	-16.58%	-13.53%	-3.05%
Max Drawdown (1Y) Largest decline over 1 year	-2.17%	-3.06%	+0.89%
Max Drawdown (3Y) Largest decline over 3 years	-3.00%	-3.79%	+0.79%
Max Drawdown (5Y) Largest decline over 5 years	-10.41%	-13.53%	+3.12%
Current Drawdown Current decline from peak	-0.85%	-2.22%	+1.37%
Average Drawdown Average peak-to-trough decline	-2.43%	-3.46%	+1.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.61%	1.18%	-0.57%

Volatility

ICPB.TO vs. PCOR.TO - Volatility Comparison

IA Clarington Agile Core Plus Bond Fund Series ETF (ICPB.TO) and PIMCO Managed Core Bond Pool (PCOR.TO) have volatilities of 1.00% and 1.04%, 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

	ICPB.TO	PCOR.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.00%	1.04%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	2.86%	3.41%	-0.55%
Volatility (1Y) Calculated over the trailing 1-year period	4.00%	5.51%	-1.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.31%	7.71%	-2.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.13%	7.40%	+1.73%

ICPB.TO vs. PCOR.TO - Expense Ratio Comparison

Both ICPB.TO and PCOR.TO have an expense ratio of 0.64%.

Dividends

ICPB.TO vs. PCOR.TO - Dividend Comparison

ICPB.TO's dividend yield for the trailing twelve months is around 4.63%, less than PCOR.TO's 4.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
ICPB.TO IA Clarington Agile Core Plus Bond Fund Series ETF	4.63%	4.19%	4.69%	4.25%	4.45%	3.03%	2.86%	2.82%	0.19%
PCOR.TO PIMCO Managed Core Bond Pool	4.95%	5.30%	5.40%	3.50%	3.41%	2.81%	2.24%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ICPB.TO and PCOR.TO in my portfolio?

ICPB.TO and PCOR.TO have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ICPB.TO or PCOR.TO?

Both ETFs have the same 0.64% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ICPB.TO or PCOR.TO?

ICPB.TO and PCOR.TO have the same expense ratio: 0.64% per year.

What is the main difference between ICPB.TO and PCOR.TO?

They also come from different issuers: IA Clarington Investments Inc. and PIMCO Canada Corp..