IGCF.TO vs. PMNT.TO
IGCF.TO (PIMCO Investment Grade Credit Fund (Canada)) and PMNT.TO (PIMCO Global Short Maturity Fund (Canada)) are both exchange-traded funds - IGCF.TO is a Global Corporate Bonds fund actively managed by PIMCO Canada Corp., while PMNT.TO is a Ultrashort Bond fund actively managed by PIMCO Canada Corp.. Both are actively managed. Over the past 5 years, IGCF.TO returned -1.32%/yr vs 2.97%/yr for PMNT.TO. At a 0.08 correlation, their price movements are largely independent. IGCF.TO charges 0.83%/yr vs 0.39%/yr for PMNT.TO.
Performance
IGCF.TO vs. PMNT.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 PMNT.TO's 1.64% 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%
PMNT.TO
- 1D
- 0.10%
- 1M
- 0.15%
- 6M
- 1.35%
- YTD
- 1.64%
- 1Y
- 2.52%
- 3Y*
- 4.19%
- 5Y*
- 2.97%
- 10Y*
- —
- ALL TIME*
- 2.53%
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$53.98K | CA$50.33K | CA$54.94K |
IGCF.TO vs. PMNT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IGCF.TO PIMCO Investment Grade Credit Fund (Canada) | -1.65% | 7.04% | 1.51% | 6.04% | -16.84% | -0.40% | 6.51% | 10.71% |
PMNT.TO PIMCO Global Short Maturity Fund (Canada) | 1.64% | 3.11% | 5.26% | 5.42% | -0.37% | 0.35% | 1.21% | 2.41% |
Correlation
The correlation between IGCF.TO and PMNT.TO is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2019 | 0.08 |
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Return for Risk
IGCF.TO vs. PMNT.TO — Risk / Return Rank
IGCF.TO
PMNT.TO
IGCF.TO vs. PMNT.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 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.
| IGCF.TO | PMNT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.17 | ||
| Sortino ratioReturn per unit of downside risk | -1.60 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.36 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.41 | 4.02 | -3.61 |
| Martin ratioReturn relative to average drawdown | 1.00 | 13.37 | -12.37 |
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Drawdowns
IGCF.TO vs. PMNT.TO - Drawdown Comparison
The maximum IGCF.TO drawdown since its inception was -22.91%, 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 IGCF.TO and PMNT.TO.
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Drawdown Indicators
| IGCF.TO | PMNT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.91% | -6.81% | -16.10% |
Max Drawdown (1Y)Largest decline over 1 year | -3.75% | -0.63% | -3.12% |
Max Drawdown (3Y)Largest decline over 3 years | -6.40% | -1.15% | -5.25% |
Max Drawdown (5Y)Largest decline over 5 years | -22.50% | -1.94% | -20.56% |
Current DrawdownCurrent decline from peak | -7.44% | 0.00% | -7.44% |
Average DrawdownAverage peak-to-trough decline | -7.45% | -0.36% | -7.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.53% | 0.20% | +1.33% |
Volatility
IGCF.TO vs. PMNT.TO - Volatility Comparison
PIMCO Investment Grade Credit Fund (Canada) (IGCF.TO) has a higher volatility of 0.87% compared to PIMCO Global Short Maturity Fund (Canada) (PMNT.TO) at 0.23%. This indicates that IGCF.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
| IGCF.TO | PMNT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.87% | 0.23% | +0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 4.32% | 0.70% | +3.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.72% | 1.77% | +3.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.04% | 2.13% | +7.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.13% | 3.18% | +6.95% |
IGCF.TO vs. PMNT.TO - Expense Ratio Comparison
IGCF.TO has a 0.83% expense ratio, which is higher than PMNT.TO's 0.39% expense ratio.
Dividends
IGCF.TO vs. PMNT.TO - Dividend Comparison
IGCF.TO's dividend yield for the trailing twelve months is around 3.07%, less than PMNT.TO's 4.38% 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% |
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% |
Frequently Asked Questions
IGCF.TO and PMNT.TO have a correlation of 0.11, 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 0.83% for IGCF.TO.
IGCF.TO is categorized as Global Corporate Bonds, while PMNT.TO is Ultrashort Bond. Their fees differ too: 0.83% for IGCF.TO and 0.39% for PMNT.TO.
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