PAIIX vs. CCRV

Last updated Apr 1, 2026

Compare and contrast key facts about PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) (PAIIX) and iShares Commodity Curve Carry Strategy ETF (CCRV).

PAIIX is managed by PIMCO. It was launched on Oct 1, 1995. CCRV is a passively managed fund by iShares that tracks the performance of the CCRV-US - ICE BofA Commodity Enhanced Carry Index. It was launched on Sep 1, 2020.

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.

PAIIX vs. CCRV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PAIIX PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged)	-2.94%	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%	7.37%

Returns By Period

PAIIX

• 1D: 0.42%
• 1M: -3.85%
• YTD: -2.94%
• 6M: -1.59%
• 1Y: 2.48%
• 3Y*: 4.59%
• 5Y*: 1.73%
• 10Y*: 2.78%

CCRV

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

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

PAIIX vs. CCRV - Expense Ratio Comparison

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

PAIIX

PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged)

CCRV

iShares Commodity Curve Carry Strategy ETF

Return for Risk

PAIIX vs. CCRV — Risk / Return Rank

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

PAIIX

PAIIX Risk / Return Rank: 29
PAIIX Sharpe Ratio Rank: 34
PAIIX Sortino Ratio Rank: 28
PAIIX Omega Ratio Rank: 27
PAIIX Calmar Ratio Rank: 26
PAIIX Martin Ratio Rank: 30

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.

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.

	PAIIX	CCRV	Difference
Sharpe ratio Return per unit of total volatility	0.75	—	—
Sortino ratio Return per unit of downside risk	1.03	—	—
Omega ratio Gain probability vs. loss probability	1.14	—	—
Calmar ratio Return relative to maximum drawdown	0.74	—	—
Martin ratio Return relative to average drawdown	3.24	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	PAIIX	CCRV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.75	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.96	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.09	—	—

Correlation

The correlation between PAIIX and CCRV is -0.02. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

PAIIX vs. CCRV - Dividend Comparison

PAIIX's dividend yield for the trailing twelve months is around 4.35%, while CCRV has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PAIIX PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged)	4.35%	4.44%	3.72%	2.05%	7.25%	2.59%	1.90%	3.75%	1.78%	2.73%	2.23%	5.44%
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%

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 (5Y) Largest decline over 5 years	-9.91%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-10.44%	—	—
Current Drawdown Current decline from peak	-3.85%	—	—
Average Drawdown Average peak-to-trough decline	-1.99%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.97%	—	—

Volatility

Volatility by Period

	PAIIX	CCRV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.23%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.86%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.94%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.25%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.92%	—	—