MFDX vs. HYS

Last updated Apr 1, 2026

Compare and contrast key facts about PIMCO RAFI Dynamic Multi-Factor International Equity ETF (MFDX) and PIMCO 0-5 Year High Yield Corporate Bond Index ETF (HYS).

MFDX and HYS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MFDX is a passively managed fund by PIMCO that tracks the performance of the RAFI Dynamic Multi-Factor Developed Ex-U.S. Index. It was launched on Aug 31, 2017. HYS is a passively managed fund by PIMCO that tracks the performance of the ICE BofA US High Yield Constrained (0-5 Y). It was launched on Jun 16, 2011. Both MFDX and HYS are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

MFDX vs. HYS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO RAFI Dynamic Multi-Factor International Equity ETF (MFDX) and PIMCO 0-5 Year High Yield Corporate Bond Index ETF (HYS). The values are adjusted to include any dividend payments, if applicable.

MFDX vs. HYS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF	3.63%	34.27%	4.40%	17.54%	-10.27%	11.07%	6.90%	19.88%	-14.88%	7.02%
HYS PIMCO 0-5 Year High Yield Corporate Bond Index ETF	-0.39%	8.80%	8.42%	11.38%	-5.42%	4.77%	3.27%	10.22%	-1.05%	0.85%

Returns By Period

In the year-to-date period, MFDX achieves a 3.63% return, which is significantly higher than HYS's -0.39% return.

MFDX

• 1D: 3.05%
• 1M: -7.22%
• YTD: 3.63%
• 6M: 8.66%
• 1Y: 28.57%
• 3Y*: 16.66%
• 5Y*: 10.03%
• 10Y*: —

HYS

• 1D: 0.70%
• 1M: -0.57%
• YTD: -0.39%
• 6M: 1.22%
• 1Y: 7.13%
• 3Y*: 8.21%
• 5Y*: 4.94%
• 10Y*: 5.62%

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

MFDX vs. HYS - Expense Ratio Comparison

MFDX has a 0.39% expense ratio, which is lower than HYS's 0.56% expense ratio.

HYS

PIMCO 0-5 Year High Yield Corporate Bond Index ETF

MFDX

PIMCO RAFI Dynamic Multi-Factor International Equity ETF

Return for Risk

MFDX vs. HYS — Risk / Return Rank

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

MFDX

MFDX Risk / Return Rank: 88
MFDX Sharpe Ratio Rank: 88
MFDX Sortino Ratio Rank: 89
MFDX Omega Ratio Rank: 89
MFDX Calmar Ratio Rank: 86
MFDX Martin Ratio Rank: 88

HYS

HYS Risk / Return Rank: 79
HYS Sharpe Ratio Rank: 76
HYS Sortino Ratio Rank: 78
HYS Omega Ratio Rank: 83
HYS Calmar Ratio Rank: 72
HYS Martin Ratio Rank: 87

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.

MFDX vs. HYS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO RAFI Dynamic Multi-Factor International Equity ETF (MFDX) and PIMCO 0-5 Year High Yield Corporate Bond Index ETF (HYS). 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.

	MFDX	HYS	Difference
Sharpe ratio Return per unit of total volatility	1.84	1.33	+0.51
Sortino ratio Return per unit of downside risk	2.47	1.93	+0.54
Omega ratio Gain probability vs. loss probability	1.37	1.32	+0.05
Calmar ratio Return relative to maximum drawdown	2.60	1.78	+0.82
Martin ratio Return relative to average drawdown	10.63	9.95	+0.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MFDX vs. HYS - Sharpe Ratio Comparison

The current MFDX Sharpe Ratio is 1.84, which is higher than the HYS Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of MFDX and HYS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MFDX	HYS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	1.33	+0.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	0.80	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.82	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.80	-0.29

Correlation

The correlation between MFDX and HYS is 0.63, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

MFDX vs. HYS - Dividend Comparison

MFDX's dividend yield for the trailing twelve months is around 2.86%, less than HYS's 7.40% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF	2.86%	2.97%	3.16%	3.12%	2.85%	2.99%	1.58%	2.88%	2.13%	0.71%	0.00%	0.00%
HYS PIMCO 0-5 Year High Yield Corporate Bond Index ETF	7.40%	7.20%	7.43%	6.44%	5.01%	3.74%	4.52%	4.98%	4.64%	5.01%	5.13%	5.22%

Drawdowns

MFDX vs. HYS - Drawdown Comparison

The maximum MFDX drawdown since its inception was -36.05%, which is greater than HYS's maximum drawdown of -20.91%. Use the drawdown chart below to compare losses from any high point for MFDX and HYS.

Drawdown Indicators

	MFDX	HYS	Difference
Max Drawdown Largest peak-to-trough decline	-36.05%	-20.91%	-15.14%
Max Drawdown (1Y) Largest decline over 1 year	-10.66%	-4.06%	-6.60%
Max Drawdown (5Y) Largest decline over 5 years	-25.58%	-10.61%	-14.97%
Max Drawdown (10Y) Largest decline over 10 years	—	-20.91%	—
Current Drawdown Current decline from peak	-7.30%	-1.02%	-6.28%
Average Drawdown Average peak-to-trough decline	-6.58%	-1.55%	-5.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.61%	0.73%	+1.88%

Volatility

MFDX vs. HYS - Volatility Comparison

PIMCO RAFI Dynamic Multi-Factor International Equity ETF (MFDX) has a higher volatility of 7.29% compared to PIMCO 0-5 Year High Yield Corporate Bond Index ETF (HYS) at 1.88%. This indicates that MFDX's price experiences larger fluctuations and is considered to be riskier than HYS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MFDX	HYS	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.29%	1.88%	+5.41%
Volatility (6M) Calculated over the trailing 6-month period	10.27%	2.52%	+7.75%
Volatility (1Y) Calculated over the trailing 1-year period	15.63%	5.38%	+10.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.95%	6.22%	+8.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.42%	6.85%	+9.57%