PAIIX vs. CGBL

Last updated Apr 2, 2026

Compare and contrast key facts about PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) (PAIIX) and Capital Group Core Balanced ETF (CGBL).

PAIIX is managed by PIMCO. It was launched on Oct 1, 1995. CGBL is an actively managed fund by Capital Group. It was launched on Sep 26, 2023.

Performance

PAIIX vs. CGBL - 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 Capital Group Core Balanced ETF (CGBL). The values are adjusted to include any dividend payments, if applicable.

PAIIX vs. CGBL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PAIIX PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged)	-2.53%	8.23%	4.02%	5.85%
CGBL Capital Group Core Balanced ETF	-1.67%	15.33%	16.64%	9.80%

Returns By Period

In the year-to-date period, PAIIX achieves a -2.53% return, which is significantly lower than CGBL's -1.67% return.

PAIIX

• 1D: 0.42%
• 1M: -2.85%
• YTD: -2.53%
• 6M: -1.27%
• 1Y: 2.81%
• 3Y*: 4.73%
• 5Y*: 1.83%
• 10Y*: 2.83%

CGBL

• 1D: 0.58%
• 1M: -4.69%
• YTD: -1.67%
• 6M: 0.29%
• 1Y: 13.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PAIIX vs. CGBL - Expense Ratio Comparison

PAIIX has a 0.90% expense ratio, which is higher than CGBL's 0.33% expense ratio.

PAIIX

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

CGBL

Capital Group Core Balanced ETF

Return for Risk

PAIIX vs. CGBL — Risk / Return Rank

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

PAIIX

PAIIX Risk / Return Rank: 27
PAIIX Sharpe Ratio Rank: 29
PAIIX Sortino Ratio Rank: 24
PAIIX Omega Ratio Rank: 23
PAIIX Calmar Ratio Rank: 26
PAIIX Martin Ratio Rank: 31

CGBL

CGBL Risk / Return Rank: 63
CGBL Sharpe Ratio Rank: 60
CGBL Sortino Ratio Rank: 63
CGBL Omega Ratio Rank: 61
CGBL Calmar Ratio Rank: 65
CGBL Martin Ratio Rank: 66

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. CGBL - 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 Capital Group Core Balanced ETF (CGBL). 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	CGBL	Difference
Sharpe ratio Return per unit of total volatility	0.75	1.10	-0.36
Sortino ratio Return per unit of downside risk	1.02	1.64	-0.62
Omega ratio Gain probability vs. loss probability	1.14	1.23	-0.09
Calmar ratio Return relative to maximum drawdown	0.84	1.73	-0.88
Martin ratio Return relative to average drawdown	3.60	7.00	-3.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PAIIX vs. CGBL - Sharpe Ratio Comparison

The current PAIIX Sharpe Ratio is 0.75, which is lower than the CGBL Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of PAIIX and CGBL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PAIIX	CGBL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.75	1.10	-0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.97	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.09	1.47	-0.38

Correlation

The correlation between PAIIX and CGBL is 0.35, 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

PAIIX vs. CGBL - Dividend Comparison

PAIIX's dividend yield for the trailing twelve months is around 4.33%, more than CGBL's 2.03% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PAIIX PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged)	4.33%	4.44%	3.72%	2.05%	7.25%	2.59%	1.90%	3.75%	1.78%	2.73%	2.23%	5.44%
CGBL Capital Group Core Balanced ETF	2.03%	1.98%	1.92%	0.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

PAIIX vs. CGBL - Drawdown Comparison

The maximum PAIIX drawdown since its inception was -13.59%, which is greater than CGBL's maximum drawdown of -11.66%. Use the drawdown chart below to compare losses from any high point for PAIIX and CGBL.

Drawdown Indicators

	PAIIX	CGBL	Difference
Max Drawdown Largest peak-to-trough decline	-13.59%	-11.66%	-1.93%
Max Drawdown (1Y) Largest decline over 1 year	-4.25%	-8.11%	+3.86%
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	-3.44%	-5.26%	+1.82%
Average Drawdown Average peak-to-trough decline	-1.99%	-1.31%	-0.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.00%	2.00%	-1.00%

Volatility

PAIIX vs. CGBL - Volatility Comparison

The current volatility for PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) (PAIIX) is 2.26%, while Capital Group Core Balanced ETF (CGBL) has a volatility of 4.54%. This indicates that PAIIX experiences smaller price fluctuations and is considered to be less risky than CGBL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAIIX	CGBL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.26%	4.54%	-2.28%
Volatility (6M) Calculated over the trailing 6-month period	2.89%	7.40%	-4.51%
Volatility (1Y) Calculated over the trailing 1-year period	3.95%	12.41%	-8.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.26%	11.01%	-7.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.92%	11.01%	-8.09%