MFEM vs. PYLD
MFEM (PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF) and PYLD (PIMCO Multisector Bond Active Exchange-Traded Fund) are both exchange-traded funds - MFEM is a Emerging Markets Equities fund tracking the RAFI Dynamic Multi-Factor Emerging Market Index, while PYLD is a Multisector Bonds fund actively managed by PIMCO. MFEM is passively managed, while PYLD is actively managed. Over the past 3 years, MFEM returned 20.13%/yr vs 8.06%/yr for PYLD. At a 0.33 correlation, their price movements are largely independent. MFEM charges 0.49%/yr vs 0.55%/yr for PYLD.
Performance
MFEM vs. PYLD - Performance Comparison
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Returns By Period
In the year-to-date period, MFEM achieves a 22.43% return, which is significantly higher than PYLD's 1.41% return.
MFEM
- 1D
- -4.55%
- 1M
- -0.67%
- YTD
- 22.43%
- 6M
- 23.23%
- 1Y
- 40.87%
- 3Y*
- 20.13%
- 5Y*
- 7.53%
- 10Y*
- —
PYLD
- 1D
- 0.23%
- 1M
- 0.93%
- YTD
- 1.41%
- 6M
- 1.60%
- 1Y
- 6.83%
- 3Y*
- 8.06%
- 5Y*
- —
- 10Y*
- —
MFEM vs. PYLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF | 22.43% | 25.33% | 4.73% | 5.97% |
PYLD PIMCO Multisector Bond Active Exchange-Traded Fund | 1.41% | 9.57% | 7.69% | 5.46% |
Correlation
The correlation between MFEM and PYLD is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2023 | 0.33 |
The correlation between MFEM and PYLD shifts across timeframes, from 0.33 (all time) to 0.49 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MFEM vs. PYLD — Risk / Return Rank
MFEM
PYLD
MFEM vs. PYLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (MFEM) and PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD). 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.
| MFEM | PYLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.31 | ||
| Sortino ratioReturn per unit of downside risk | -0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.44 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.19 | 2.11 | +1.08 |
| Martin ratioReturn relative to average drawdown | 10.95 | 9.56 | +1.39 |
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Drawdowns
MFEM vs. PYLD - Drawdown Comparison
The maximum MFEM drawdown since its inception was -43.32%, which is greater than PYLD's maximum drawdown of -4.52%. Use the drawdown chart below to compare losses from any high point for MFEM and PYLD.
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Drawdown Indicators
| MFEM | PYLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.32% | -4.52% | -38.80% |
Max Drawdown (1Y)Largest decline over 1 year | -12.86% | -3.25% | -9.61% |
Max Drawdown (3Y)Largest decline over 3 years | -19.22% | -4.52% | -14.70% |
Max Drawdown (5Y)Largest decline over 5 years | -30.84% | — | — |
Current DrawdownCurrent decline from peak | -7.95% | -0.30% | -7.65% |
Average DrawdownAverage peak-to-trough decline | -11.45% | -0.64% | -10.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.74% | 0.72% | +3.02% |
Volatility
MFEM vs. PYLD - Volatility Comparison
PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (MFEM) has a higher volatility of 11.67% compared to PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD) at 1.07%. This indicates that MFEM's price experiences larger fluctuations and is considered to be riskier than PYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MFEM | PYLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.67% | 1.07% | +10.60% |
Volatility (6M)Calculated over the trailing 6-month period | 19.63% | 2.62% | +17.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.40% | 3.08% | +18.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.16% | 3.99% | +13.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.63% | 3.99% | +15.64% |
MFEM vs. PYLD - Expense Ratio Comparison
MFEM has a 0.49% expense ratio, which is lower than PYLD's 0.55% expense ratio.
Dividends
MFEM vs. PYLD - Dividend Comparison
MFEM's dividend yield for the trailing twelve months is around 2.27%, less than PYLD's 6.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF | 2.27% | 2.77% | 5.89% | 4.01% | 7.01% | 29.96% | 1.70% | 2.37% | 1.18% | 0.21% |
PYLD PIMCO Multisector Bond Active Exchange-Traded Fund | 6.27% | 6.21% | 6.40% | 2.72% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MFEM and PYLD have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MFEM has higher volatility (11.67%) compared to PYLD (1.07%). In terms of maximum drawdown, MFEM dropped -43.32% vs PYLD's -4.52%.
On 3-year performance, MFEM leads with 20.13% vs 8.06% for PYLD. On fees, MFEM is cheaper at 0.49% per year. On volatility, PYLD has been the lower-risk option at 1.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, MFEM has performed better with a 20.13% return vs 8.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MFEM is cheaper with a 0.49% expense ratio, compared with 0.55% for PYLD.
PYLD has the higher dividend yield at 6.27%, compared with 2.27% for MFEM.
MFEM is categorized as Emerging Markets Equities, while PYLD is Multisector Bonds. Their fees differ too: 0.49% for MFEM and 0.55% for PYLD.
PYLD currently has the higher Sharpe Ratio (2.23 vs 1.92), 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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