MINT vs. FCFAX

Last updated Jun 13, 2026

MINT (PIMCO Enhanced Short Maturity Active ETF) and FCFAX (Frost Credit Fund) are both funds - MINT is a Ultrashort Bond fund actively managed by PIMCO, while FCFAX is a Short-Term Bond fund managed by Frost Funds. Over the past 10 years, MINT returned 2.72%/yr vs 5.17%/yr for FCFAX. At a 0.19 correlation, their price movements are largely independent. MINT charges 0.36%/yr vs 0.96%/yr for FCFAX.

Performance

MINT vs. FCFAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Enhanced Short Maturity Active ETF (MINT) and Frost Credit Fund (FCFAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MINT achieves a 1.94% return, which is significantly higher than FCFAX's 1.58% return. Over the past 10 years, MINT has underperformed FCFAX with an annualized return of 2.72%, while FCFAX has yielded a comparatively higher 5.17% annualized return.

MINT

• 1D: 0.04%
• 1M: 0.39%
• YTD: 1.94%
• 6M: 2.19%
• 1Y: 4.72%
• 3Y*: 5.40%
• 5Y*: 3.49%
• 10Y*: 2.72%

FCFAX

• 1D: 0.33%
• 1M: 0.72%
• YTD: 1.58%
• 6M: 1.88%
• 1Y: 4.56%
• 3Y*: 7.23%
• 5Y*: 3.79%
• 10Y*: 5.17%

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

MINT vs. FCFAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MINT PIMCO Enhanced Short Maturity Active ETF	1.94%	4.74%	5.94%	6.26%	-1.01%	-0.03%	1.62%	3.34%	1.72%	1.86%
FCFAX Frost Credit Fund	1.58%	5.21%	8.01%	11.23%	-7.83%	5.07%	6.22%	6.95%	0.89%	7.95%

Correlation

The correlation between MINT and FCFAX is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (10Y) Calculated over the trailing 10-year period	0.21
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013	0.19

The correlation between MINT and FCFAX shifts across timeframes, from -0.07 (1 year) to 0.25 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

MINT vs. FCFAX — Risk / Return Rank

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

MINT

MINT Risk / Return Rank: 100
MINT Sharpe Ratio Rank: 100
MINT Sortino Ratio Rank: 100
MINT Omega Ratio Rank: 100
MINT Calmar Ratio Rank: 100
MINT Martin Ratio Rank: 100

FCFAX

FCFAX Risk / Return Rank: 73
FCFAX Sharpe Ratio Rank: 77
FCFAX Sortino Ratio Rank: 81
FCFAX Omega Ratio Rank: 79
FCFAX Calmar Ratio Rank: 68
FCFAX Martin Ratio Rank: 62

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.

MINT vs. FCFAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Enhanced Short Maturity Active ETF (MINT) and Frost Credit Fund (FCFAX). 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.

	MINT	FCFAX	Difference
Sharpe ratio: Return per unit of total volatility	17.51	2.13	+15.38
Sortino ratio: Return per unit of downside risk	66.94	3.26	+63.68
Omega ratio: Gain probability vs. loss probability	21.62	1.43	+20.19
Calmar ratio: Return relative to maximum drawdown	95.35	2.65	+92.70
Martin ratio: Return relative to average drawdown	965.15	9.89	+955.26

MINT vs. FCFAX - Sharpe Ratio Comparison

The current MINT Sharpe Ratio is 17.51, which is higher than the FCFAX Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of MINT and FCFAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MINT vs. FCFAX - Drawdown Comparison

The maximum MINT drawdown since its inception was -4.62%, smaller than the maximum FCFAX drawdown of -16.33%. Use the drawdown chart below to compare losses from any high point for MINT and FCFAX.

Drawdown Indicators

	MINT	FCFAX	Difference
Max Drawdown Largest peak-to-trough decline	-4.62%	-16.33%	+11.71%
Max Drawdown (1Y) Largest decline over 1 year	-0.05%	-1.82%	+1.77%
Max Drawdown (3Y) Largest decline over 3 years	-0.16%	-2.82%	+2.66%
Max Drawdown (5Y) Largest decline over 5 years	-2.42%	-10.49%	+8.07%
Max Drawdown (10Y) Largest decline over 10 years	-4.62%	-16.33%	+11.71%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.17%	-1.53%	+1.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	0.49%	-0.49%

Volatility

MINT vs. FCFAX - Volatility Comparison

The current volatility for PIMCO Enhanced Short Maturity Active ETF (MINT) is 0.09%, while Frost Credit Fund (FCFAX) has a volatility of 0.77%. This indicates that MINT experiences smaller price fluctuations and is considered to be less risky than FCFAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MINT	FCFAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.09%	0.77%	-0.68%
Volatility (6M) Calculated over the trailing 6-month period	0.20%	1.76%	-1.56%
Volatility (1Y) Calculated over the trailing 1-year period	0.27%	2.27%	-2.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.58%	2.77%	-2.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.95%	3.24%	-2.29%

MINT vs. FCFAX - Expense Ratio Comparison

MINT has a 0.36% expense ratio, which is lower than FCFAX's 0.96% expense ratio.

Dividends

MINT vs. FCFAX - Dividend Comparison

MINT's dividend yield for the trailing twelve months is around 4.28%, less than FCFAX's 6.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCFAX Frost Credit Fund	6.15%	6.10%	5.76%	5.93%	5.00%	3.65%	3.69%	4.62%	5.05%	5.85%	4.84%	4.95%
MINT PIMCO Enhanced Short Maturity Active ETF	4.28%	4.63%	5.22%	4.91%	1.90%	0.44%	1.15%	2.65%	2.32%	1.61%	1.35%	0.88%

Frequently Asked Questions

Can I hold both MINT and FCFAX in my portfolio?

MINT and FCFAX have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MINT or FCFAX?

FCFAX has higher volatility (0.77%) compared to MINT (0.09%). In terms of maximum drawdown, MINT dropped -4.62% vs FCFAX's -16.33%.

Which has better risk-adjusted returns?

MINT currently has the higher Sharpe Ratio (17.51 vs 2.13), 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.