MBDFX vs. PNIIX
MBDFX (AMG GW&K Core Bond ESG Fund) and PNIIX (Principal Bond Market Index Fund) are both Intermediate Core Bond funds. Over the past 10 years, MBDFX returned 1.29%/yr vs 1.44%/yr for PNIIX. Their correlation of 0.91 suggests significant overlap in exposure. MBDFX charges 0.56%/yr vs 0.15%/yr for PNIIX.
Performance
MBDFX vs. PNIIX - Performance Comparison
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Returns By Period
In the year-to-date period, MBDFX achieves a 0.17% return, which is significantly lower than PNIIX's 0.59% return. Over the past 10 years, MBDFX has underperformed PNIIX with an annualized return of 1.29%, while PNIIX has yielded a comparatively higher 1.44% annualized return.
MBDFX
- 1D
- 0.22%
- 1M
- 0.89%
- YTD
- 0.17%
- 6M
- 0.28%
- 1Y
- 4.42%
- 3Y*
- 3.91%
- 5Y*
- -0.58%
- 10Y*
- 1.29%
PNIIX
- 1D
- 0.23%
- 1M
- 0.82%
- YTD
- 0.59%
- 6M
- 0.59%
- 1Y
- 4.61%
- 3Y*
- 3.93%
- 5Y*
- -0.08%
- 10Y*
- 1.44%
MBDFX vs. PNIIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MBDFX AMG GW&K Core Bond ESG Fund | 0.17% | 7.29% | 1.24% | 5.73% | -13.85% | -3.34% | 7.33% | 9.70% | -1.11% | 3.88% |
PNIIX Principal Bond Market Index Fund | 0.59% | 7.01% | 1.17% | 5.55% | -13.26% | -1.68% | 7.28% | 8.47% | -0.20% | 3.31% |
Correlation
The correlation between MBDFX and PNIIX is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Dec 31, 2009 | 0.91 |
The correlation between MBDFX and PNIIX has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.
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Return for Risk
MBDFX vs. PNIIX — Risk / Return Rank
MBDFX
PNIIX
MBDFX vs. PNIIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AMG GW&K Core Bond ESG Fund (MBDFX) and Principal Bond Market Index Fund (PNIIX). 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.
| MBDFX | PNIIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.22 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.37 | 1.68 | -0.30 |
| Martin ratioReturn relative to average drawdown | 3.73 | 4.84 | -1.11 |
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Drawdowns
MBDFX vs. PNIIX - Drawdown Comparison
The maximum MBDFX drawdown since its inception was -20.66%, which is greater than PNIIX's maximum drawdown of -18.76%. Use the drawdown chart below to compare losses from any high point for MBDFX and PNIIX.
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Drawdown Indicators
| MBDFX | PNIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.66% | -18.76% | -1.90% |
Max Drawdown (1Y)Largest decline over 1 year | -3.25% | -2.76% | -0.49% |
Max Drawdown (3Y)Largest decline over 3 years | -6.99% | -6.25% | -0.74% |
Max Drawdown (5Y)Largest decline over 5 years | -20.54% | -18.14% | -2.40% |
Max Drawdown (10Y)Largest decline over 10 years | -20.66% | -18.76% | -1.90% |
Current DrawdownCurrent decline from peak | -4.30% | -2.53% | -1.77% |
Average DrawdownAverage peak-to-trough decline | -3.96% | -3.44% | -0.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.19% | 0.95% | +0.24% |
Volatility
MBDFX vs. PNIIX - Volatility Comparison
AMG GW&K Core Bond ESG Fund (MBDFX) and Principal Bond Market Index Fund (PNIIX) have volatilities of 1.19% and 1.24%, 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.
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Volatility by Period
| MBDFX | PNIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.19% | 1.24% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 2.86% | 2.81% | +0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.83% | 3.82% | +0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.16% | 6.32% | -0.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.06% | 5.09% | -0.03% |
MBDFX vs. PNIIX - Expense Ratio Comparison
MBDFX has a 0.56% expense ratio, which is higher than PNIIX's 0.15% expense ratio.
Dividends
MBDFX vs. PNIIX - Dividend Comparison
MBDFX's dividend yield for the trailing twelve months is around 3.46%, less than PNIIX's 3.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MBDFX AMG GW&K Core Bond ESG Fund | 3.46% | 3.66% | 3.50% | 2.92% | 2.16% | 2.35% | 1.84% | 2.40% | 2.30% | 2.10% | 2.06% | 4.17% |
PNIIX Principal Bond Market Index Fund | 3.99% | 4.01% | 3.60% | 4.18% | 1.66% | 2.03% | 18.60% | 2.40% | 2.51% | 2.35% | 1.78% | 2.10% |
Frequently Asked Questions
With a correlation of 0.92, MBDFX and PNIIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
PNIIX has higher volatility (1.24%) compared to MBDFX (1.19%). In terms of maximum drawdown, MBDFX dropped -20.66% vs PNIIX's -18.76%.
PNIIX currently has the higher Sharpe Ratio (1.21 vs 1.17), 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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