IEO vs. PMBS
IEO (iShares U.S. Oil & Gas Exploration & Production ETF) and PMBS (PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund) are both exchange-traded funds - IEO is a Energy Equities fund tracking the Dow Jones U.S. Select Oil Exploration & Production Index, while PMBS is a Mortgage Backed Securities fund actively managed by PIMCO. IEO is passively managed, while PMBS is actively managed. Over the past year, IEO returned 31.84% vs 6.17% for PMBS. At a correlation of -0.20, they often move in opposite directions. IEO charges 0.42%/yr vs 0.71%/yr for PMBS.
Performance
IEO vs. PMBS - Performance Comparison
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Returns By Period
In the year-to-date period, IEO achieves a 34.21% return, which is significantly higher than PMBS's 0.85% return.
IEO
- 1D
- 0.41%
- 1M
- 2.91%
- 6M
- 30.61%
- YTD
- 34.21%
- 1Y
- 31.84%
- 3Y*
- 14.02%
- 5Y*
- 21.52%
- 10Y*
- 10.34%
PMBS
- 1D
- 0.40%
- 1M
- -0.25%
- 6M
- 0.32%
- YTD
- 0.85%
- 1Y
- 6.17%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IEO vs. PMBS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IEO iShares U.S. Oil & Gas Exploration & Production ETF | 34.21% | 2.15% | -3.35% |
PMBS PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund | 0.85% | 8.92% | -2.80% |
Correlation
The correlation between IEO and PMBS is -0.32, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.32 |
Correlation (All Time) Calculated using the full available price history since Sep 23, 2024 | -0.20 |
The correlation between IEO and PMBS shifts across timeframes, from -0.32 (1 year) to -0.20 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IEO vs. PMBS — Risk / Return Rank
IEO
PMBS
IEO vs. PMBS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Oil & Gas Exploration & Production ETF (IEO) and PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund (PMBS). 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.
| IEO | PMBS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.27 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.96 | 2.09 | -0.13 |
| Martin ratioReturn relative to average drawdown | 4.89 | 6.40 | -1.51 |
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Drawdowns
IEO vs. PMBS - Drawdown Comparison
The maximum IEO drawdown since its inception was -79.17%, which is greater than PMBS's maximum drawdown of -4.35%. Use the drawdown chart below to compare losses from any high point for IEO and PMBS.
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Drawdown Indicators
| IEO | PMBS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.17% | -4.35% | -74.82% |
Max Drawdown (1Y)Largest decline over 1 year | -16.32% | -2.97% | -13.35% |
Max Drawdown (3Y)Largest decline over 3 years | -31.46% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -31.46% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -75.00% | — | — |
Current DrawdownCurrent decline from peak | -7.57% | -1.60% | -5.97% |
Average DrawdownAverage peak-to-trough decline | -26.19% | -1.15% | -25.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.55% | 0.97% | +5.58% |
Volatility
IEO vs. PMBS - Volatility Comparison
iShares U.S. Oil & Gas Exploration & Production ETF (IEO) has a higher volatility of 7.72% compared to PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund (PMBS) at 1.40%. This indicates that IEO's price experiences larger fluctuations and is considered to be riskier than PMBS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEO | PMBS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.72% | 1.40% | +6.32% |
Volatility (6M)Calculated over the trailing 6-month period | 20.19% | 3.31% | +16.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.72% | 4.20% | +21.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.40% | 4.87% | +25.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.93% | 4.87% | +30.06% |
IEO vs. PMBS - Expense Ratio Comparison
IEO has a 0.42% expense ratio, which is lower than PMBS's 0.71% expense ratio.
Dividends
IEO vs. PMBS - Dividend Comparison
IEO's dividend yield for the trailing twelve months is around 1.96%, less than PMBS's 4.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEO iShares U.S. Oil & Gas Exploration & Production ETF | 1.96% | 2.61% | 2.63% | 3.00% | 3.77% | 2.62% | 3.17% | 1.85% | 1.67% | 0.94% | 0.98% | 2.03% |
PMBS PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund | 4.96% | 4.73% | 1.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IEO and PMBS have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IEO has higher volatility (7.72%) compared to PMBS (1.40%). In terms of maximum drawdown, IEO dropped -79.17% vs PMBS's -4.35%.
On 1-year performance, IEO leads with 31.84% vs 6.17% for PMBS. On fees, IEO is cheaper at 0.42% per year. On volatility, PMBS has been the lower-risk option at 1.40%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IEO has performed better with a 31.84% return vs 6.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IEO is cheaper with a 0.42% expense ratio, compared with 0.71% for PMBS.
PMBS has the higher dividend yield at 4.96%, compared with 1.96% for IEO.
IEO is categorized as Energy Equities, while PMBS is Mortgage Backed Securities. They also come from different issuers: iShares and PIMCO. Their fees differ too: 0.42% for IEO and 0.71% for PMBS.
PMBS currently has the higher Sharpe Ratio (1.47 vs 1.24), 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.
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