MFDX vs. SMMU
Compare and contrast key facts about PIMCO RAFI Dynamic Multi-Factor International Equity ETF (MFDX) and PIMCO Short Term Municipal Bond Active ETF (SMMU).
MFDX and SMMU 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. SMMU is an actively managed fund by PIMCO. It was launched on Feb 1, 2010.
Performance
MFDX vs. SMMU - Performance Comparison
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MFDX vs. SMMU - 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% |
SMMU PIMCO Short Term Municipal Bond Active ETF | 0.49% | 4.06% | 2.68% | 4.39% | -2.45% | 0.17% | 2.87% | 3.47% | 1.51% | -0.88% |
Returns By Period
In the year-to-date period, MFDX achieves a 3.63% return, which is significantly higher than SMMU's 0.49% return.
MFDX
- 1D
- 3.05%
- 1M
- -7.22%
- YTD
- 3.63%
- 6M
- 8.66%
- 1Y
- 28.57%
- 3Y*
- 16.66%
- 5Y*
- 10.03%
- 10Y*
- —
SMMU
- 1D
- 0.08%
- 1M
- -0.63%
- YTD
- 0.49%
- 6M
- 1.19%
- 1Y
- 3.72%
- 3Y*
- 3.41%
- 5Y*
- 1.85%
- 10Y*
- 1.80%
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MFDX vs. SMMU - Expense Ratio Comparison
MFDX has a 0.39% expense ratio, which is higher than SMMU's 0.35% expense ratio.
Return for Risk
MFDX vs. SMMU — Risk / Return Rank
MFDX
SMMU
MFDX vs. SMMU - 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 Short Term Municipal Bond Active ETF (SMMU). 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 | SMMU | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.84 | 2.10 | -0.26 |
Sortino ratioReturn per unit of downside risk | 2.47 | 2.53 | -0.05 |
Omega ratioGain probability vs. loss probability | 1.37 | 1.59 | -0.22 |
Calmar ratioReturn relative to maximum drawdown | 2.60 | 2.03 | +0.57 |
Martin ratioReturn relative to average drawdown | 10.63 | 10.49 | +0.15 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MFDX | SMMU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.84 | 2.10 | -0.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.67 | 1.11 | -0.44 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.66 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 0.59 | -0.08 |
Correlation
The correlation between MFDX and SMMU is 0.09, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
MFDX vs. SMMU - Dividend Comparison
MFDX's dividend yield for the trailing twelve months is around 2.86%, more than SMMU's 2.79% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF | 2.31% | 2.97% | 3.16% | 3.12% | 2.85% | 2.99% | 1.58% | 2.88% | 2.13% | 0.71% | 0.00% | 0.00% |
SMMU PIMCO Short Term Municipal Bond Active ETF | 2.58% | 2.80% | 3.03% | 2.79% | 1.37% | 0.60% | 1.19% | 1.82% | 1.57% | 1.41% | 1.03% | 0.89% |
Drawdowns
MFDX vs. SMMU - Drawdown Comparison
The maximum MFDX drawdown since its inception was -36.05%, which is greater than SMMU's maximum drawdown of -5.09%. Use the drawdown chart below to compare losses from any high point for MFDX and SMMU.
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Drawdown Indicators
| MFDX | SMMU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.05% | -5.09% | -30.96% |
Max Drawdown (1Y)Largest decline over 1 year | -10.66% | -1.95% | -8.71% |
Max Drawdown (5Y)Largest decline over 5 years | -25.58% | -4.76% | -20.82% |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.09% | — |
Current DrawdownCurrent decline from peak | -7.30% | -0.63% | -6.67% |
Average DrawdownAverage peak-to-trough decline | -6.58% | -0.55% | -6.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.61% | 0.38% | +2.23% |
Volatility
MFDX vs. SMMU - Volatility Comparison
PIMCO RAFI Dynamic Multi-Factor International Equity ETF (MFDX) has a higher volatility of 7.29% compared to PIMCO Short Term Municipal Bond Active ETF (SMMU) at 0.53%. This indicates that MFDX's price experiences larger fluctuations and is considered to be riskier than SMMU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MFDX | SMMU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.29% | 0.53% | +6.76% |
Volatility (6M)Calculated over the trailing 6-month period | 10.27% | 0.74% | +9.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.63% | 1.79% | +13.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.95% | 1.67% | +13.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.42% | 2.75% | +13.67% |