IGCF.TO vs. PMIF.TO
IGCF.TO (PIMCO Investment Grade Credit Fund (Canada)) and PMIF.TO (PIMCO Monthly Income Fund (Canada)) are both exchange-traded funds - IGCF.TO is a Global Corporate Bonds fund actively managed by PIMCO Canada Corp., while PMIF.TO is a Multisector Bonds fund actively managed by PIMCO Canada Corp.. Both are actively managed. Over the past 5 years, IGCF.TO returned -1.32%/yr vs 2.83%/yr for PMIF.TO. At a 0.24 correlation, their price movements are largely independent. IGCF.TO charges 0.83%/yr vs 0.86%/yr for PMIF.TO.
Performance
IGCF.TO vs. PMIF.TO - Performance Comparison
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Returns By Period
In the year-to-date period, IGCF.TO achieves a -1.65% return, which is significantly lower than PMIF.TO's -0.75% return.
IGCF.TO
- 1D
- -0.12%
- 1M
- -1.47%
- 6M
- -1.83%
- YTD
- -1.65%
- 1Y
- 2.21%
- 3Y*
- 3.39%
- 5Y*
- -1.32%
- 10Y*
- —
- ALL TIME*
- 1.03%
PMIF.TO
- 1D
- 0.05%
- 1M
- -1.50%
- 6M
- -1.08%
- YTD
- -0.75%
- 1Y
- 4.12%
- 3Y*
- 5.64%
- 5Y*
- 2.83%
- 10Y*
- —
- ALL TIME*
- 3.16%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$11.18K | CA$11.38K | CA$15.05K | |
| CA$3.15M | CA$3.16M | CA$3.32M |
IGCF.TO vs. PMIF.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGCF.TO PIMCO Investment Grade Credit Fund (Canada) | -1.65% | 7.04% | 1.51% | 6.04% | -16.84% | -0.40% | 6.51% | 12.86% | -3.71% | 0.74% |
PMIF.TO PIMCO Monthly Income Fund (Canada) | -0.75% | 9.04% | 5.20% | 7.55% | -6.32% | 1.90% | 3.93% | 7.09% | 0.59% | 0.49% |
Correlation
The correlation between IGCF.TO and PMIF.TO is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Oct 2, 2017 | 0.24 |
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Return for Risk
IGCF.TO vs. PMIF.TO — Risk / Return Rank
IGCF.TO
PMIF.TO
IGCF.TO vs. PMIF.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Investment Grade Credit Fund (Canada) (IGCF.TO) and PIMCO Monthly Income Fund (Canada) (PMIF.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.
| IGCF.TO | PMIF.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.85 | ||
| Sortino ratioReturn per unit of downside risk | -1.18 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.20 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.41 | 1.29 | -0.88 |
| Martin ratioReturn relative to average drawdown | 1.00 | 4.44 | -3.44 |
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Drawdowns
IGCF.TO vs. PMIF.TO - Drawdown Comparison
The maximum IGCF.TO drawdown since its inception was -22.91%, which is greater than PMIF.TO's maximum drawdown of -18.30%. Use the drawdown chart below to compare losses from any high point for IGCF.TO and PMIF.TO.
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Drawdown Indicators
| IGCF.TO | PMIF.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.91% | -18.30% | -4.61% |
Max Drawdown (1Y)Largest decline over 1 year | -3.75% | -3.22% | -0.53% |
Max Drawdown (3Y)Largest decline over 3 years | -6.40% | -3.98% | -2.42% |
Max Drawdown (5Y)Largest decline over 5 years | -22.50% | -10.25% | -12.25% |
Current DrawdownCurrent decline from peak | -7.44% | -2.05% | -5.39% |
Average DrawdownAverage peak-to-trough decline | -7.45% | -1.86% | -5.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.53% | 0.93% | +0.60% |
Volatility
IGCF.TO vs. PMIF.TO - Volatility Comparison
The current volatility for PIMCO Investment Grade Credit Fund (Canada) (IGCF.TO) is 0.87%, while PIMCO Monthly Income Fund (Canada) (PMIF.TO) has a volatility of 1.12%. This indicates that IGCF.TO experiences smaller price fluctuations and is considered to be less risky than PMIF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGCF.TO | PMIF.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.87% | 1.12% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 4.32% | 3.12% | +1.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.72% | 3.70% | +2.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.04% | 4.83% | +5.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.13% | 5.80% | +4.33% |
IGCF.TO vs. PMIF.TO - Expense Ratio Comparison
IGCF.TO has a 0.83% expense ratio, which is lower than PMIF.TO's 0.86% expense ratio.
Dividends
IGCF.TO vs. PMIF.TO - Dividend Comparison
IGCF.TO's dividend yield for the trailing twelve months is around 3.07%, less than PMIF.TO's 5.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
IGCF.TO PIMCO Investment Grade Credit Fund (Canada) | 3.07% | 3.81% | 4.51% | 3.82% | 4.31% | 2.50% | 2.41% | 3.22% | 4.22% | 0.54% |
PMIF.TO PIMCO Monthly Income Fund (Canada) | 5.72% | 5.50% | 6.96% | 6.06% | 3.73% | 3.22% | 3.58% | 3.80% | 3.51% | 0.59% |
Frequently Asked Questions
IGCF.TO and PMIF.TO have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGCF.TO is cheaper at 0.83% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGCF.TO is cheaper with a 0.83% expense ratio, compared with 0.86% for PMIF.TO.
IGCF.TO is categorized as Global Corporate Bonds, while PMIF.TO is Multisector Bonds. Their fees differ too: 0.83% for IGCF.TO and 0.86% for PMIF.TO.
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