PAIIX vs. CCRV

Last updated Aug 1, 2026

PAIIX (PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged)) and CCRV (iShares Commodity Curve Carry Strategy ETF) are both funds - PAIIX is a Global Bonds fund managed by PIMCO, while CCRV is a Commodities fund tracking the CCRV-US - ICE BofA Commodity Enhanced Carry Index. Their -0.02 correlation means they have often moved in opposite directions in the past. PAIIX charges 0.90%/yr vs 0.40%/yr for CCRV.

Performance

PAIIX vs. CCRV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) (PAIIX) and iShares Commodity Curve Carry Strategy ETF (CCRV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PAIIX

• 1D: 0.31%
• 1M: -1.14%
• 6M: -1.12%
• YTD: -0.75%
• 1Y: 2.36%
• 3Y*: 5.21%
• 5Y*: 2.13%
• 10Y*: 2.63%
• ALL TIME*: 4.79%

CCRV

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PAIIX PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged)	$0.00	$0.00	$0.00

PAIIX vs. CCRV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PAIIX PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged)	-0.75%	8.23%	4.02%	6.63%	-6.00%	-0.84%	2.61%
CCRV iShares Commodity Curve Carry Strategy ETF	0.00%	-0.05%	5.74%	5.47%	19.91%	33.78%	7.16%

Correlation

The correlation between PAIIX and CCRV is -0.16, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.16
Correlation (3Y) Balances recent behavior with more history.	-0.09
Correlation (5Y) Shows whether the relationship held over a longer period.	-0.04
Correlation (All Time) Calculated using the full available price history since Sep 3, 2020	-0.02

The correlation between PAIIX and CCRV shifts across timeframes, from -0.16 (1 year) to -0.02 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PAIIX vs. CCRV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PAIIX

PAIIX Risk / Return Rank: 20
PAIIX Sharpe Ratio Rank: 22
PAIIX Sortino Ratio Rank: 20
PAIIX Omega Ratio Rank: 23
PAIIX Calmar Ratio Rank: 16
PAIIX Martin Ratio Rank: 17

CCRV

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PAIIX vs. CCRV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) (PAIIX) and iShares Commodity Curve Carry Strategy ETF (CCRV). 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.

	PAIIX	CCRV	Difference
Sharpe ratio: Return per unit of total volatility	0.77	—	—
Sortino ratio: Return per unit of downside risk	1.12	—	—
Omega ratio: Gain probability vs. loss probability	1.15	—	—
Calmar ratio: Return relative to maximum drawdown	0.76	—	—
Martin ratio: Return relative to average drawdown	2.29	—	—

Drawdowns

Drawdown Indicators

	PAIIX	CCRV	Difference
Max Drawdown Largest peak-to-trough decline	-13.59%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-4.25%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-4.25%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-9.80%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-10.44%	—	—
Current Drawdown Current decline from peak	-1.68%	—	—
Average Drawdown Average peak-to-trough decline	-1.99%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.40%	—	—

Volatility

Volatility by Period

	PAIIX	CCRV	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.20%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.74%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.20%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.48%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.03%	—	—

PAIIX vs. CCRV - Expense Ratio Comparison

PAIIX has a 0.90% expense ratio, which is higher than CCRV's 0.40% expense ratio.

Dividends

PAIIX vs. CCRV - Dividend Comparison

PAIIX's dividend yield for the trailing twelve months is around 4.27%, while CCRV has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CCRV iShares Commodity Curve Carry Strategy ETF	0.00%	0.00%	4.43%	7.26%	33.27%	26.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PAIIX PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged)	4.27%	4.44%	3.72%	2.05%	7.25%	2.59%	1.90%	3.75%	1.78%	2.73%	2.23%	5.44%

Frequently Asked Questions

Can I hold both PAIIX and CCRV in my portfolio?

PAIIX and CCRV have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.