PCLPX vs. PFORX
PCLPX (PIMCO CommoditiesPLUS Strategy I2) and PFORX (PIMCO International Bond Fund (U.S. Dollar-Hedged)) are both mutual funds - PCLPX is a Commodities fund actively managed by PIMCO, while PFORX is a Global Bonds fund managed by PIMCO. Over the past 10 years, PCLPX returned 12.24%/yr vs 2.55%/yr for PFORX. Their -0.08 correlation means they have often moved in opposite directions in the past. PCLPX charges 0.92%/yr vs 0.50%/yr for PFORX.
Performance
PCLPX vs. PFORX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PCLPX achieves a 34.17% return, which is significantly higher than PFORX's -0.58% return. Over the past 10 years, PCLPX has outperformed PFORX with an annualized return of 12.24%, while PFORX has yielded a comparatively lower 2.55% annualized return.
PCLPX
- 1D
- -0.49%
- 1M
- 9.80%
- 6M
- 25.22%
- YTD
- 34.17%
- 1Y
- 38.71%
- 3Y*
- 12.16%
- 5Y*
- 14.40%
- 10Y*
- 12.24%
- ALL TIME*
- 5.28%
PFORX
- 1D
- 0.00%
- 1M
- -1.43%
- 6M
- -1.08%
- YTD
- -0.58%
- 1Y
- 1.31%
- 3Y*
- 4.93%
- 5Y*
- 1.19%
- 10Y*
- 2.55%
- ALL TIME*
- 5.53%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PCLPX vs. PFORX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PCLPX PIMCO CommoditiesPLUS Strategy I2 | 34.17% | 4.45% | 5.92% | 0.24% | 23.04% | 43.50% | -9.12% | 19.39% | -12.15% | 10.53% |
PFORX PIMCO International Bond Fund (U.S. Dollar-Hedged) | -0.58% | 4.33% | 5.70% | 9.52% | -10.33% | -1.67% | 6.17% | 7.64% | 2.64% | 3.52% |
Correlation
The correlation between PCLPX and PFORX is -0.47, 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. | -0.47 |
Correlation (3Y) Balances recent behavior with more history. | -0.22 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.14 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.08 |
Correlation (All Time) Calculated using the full available price history since May 28, 2010 | -0.08 |
Over the past year, the inverse relationship between PCLPX and PFORX has strengthened: their correlation has moved from -0.08 to -0.47, meaning they now move in opposite directions more often than their long-term average.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PCLPX vs. PFORX — Risk / Return Rank
PCLPX
PFORX
PCLPX vs. PFORX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO CommoditiesPLUS Strategy I2 (PCLPX) and PIMCO International Bond Fund (U.S. Dollar-Hedged) (PFORX). 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.
| PCLPX | PFORX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.31 | ||
| Sortino ratioReturn per unit of downside risk | +1.66 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.10 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.32 | 0.48 | +1.84 |
| Martin ratioReturn relative to average drawdown | 7.83 | 1.33 | +6.50 |
Loading charts...
Drawdowns
PCLPX vs. PFORX - Drawdown Comparison
The maximum PCLPX drawdown since its inception was -66.98%, which is greater than PFORX's maximum drawdown of -13.87%. Use the drawdown chart below to compare losses from any high point for PCLPX and PFORX.
Loading charts...
Drawdown Indicators
| PCLPX | PFORX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.98% | -13.87% | -53.11% |
Max Drawdown (1Y)Largest decline over 1 year | -15.49% | -3.99% | -11.50% |
Max Drawdown (3Y)Largest decline over 3 years | -15.49% | -3.99% | -11.50% |
Max Drawdown (5Y)Largest decline over 5 years | -21.53% | -13.71% | -7.82% |
Max Drawdown (10Y)Largest decline over 10 years | -51.87% | -13.87% | -38.00% |
Current DrawdownCurrent decline from peak | -6.58% | -2.06% | -4.52% |
Average DrawdownAverage peak-to-trough decline | -24.50% | -1.95% | -22.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.61% | 1.43% | +3.18% |
Volatility
PCLPX vs. PFORX - Volatility Comparison
PIMCO CommoditiesPLUS Strategy I2 (PCLPX) has a higher volatility of 6.03% compared to PIMCO International Bond Fund (U.S. Dollar-Hedged) (PFORX) at 1.01%. This indicates that PCLPX's price experiences larger fluctuations and is considered to be riskier than PFORX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PCLPX | PFORX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.03% | 1.01% | +5.02% |
Volatility (6M)Calculated over the trailing 6-month period | 17.83% | 3.48% | +14.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.93% | 3.88% | +16.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.59% | 3.65% | +15.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.60% | 3.16% | +37.44% |
PCLPX vs. PFORX - Expense Ratio Comparison
PCLPX has a 0.92% expense ratio, which is higher than PFORX's 0.50% expense ratio.
Dividends
PCLPX vs. PFORX - Dividend Comparison
PCLPX's dividend yield for the trailing twelve months is around 10.55%, more than PFORX's 3.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCLPX PIMCO CommoditiesPLUS Strategy I2 | 10.55% | 1.31% | 5.22% | 4.65% | 43.16% | 74.10% | 0.71% | 2.39% | 18.62% | 12.52% | 0.15% | 1.92% |
PFORX PIMCO International Bond Fund (U.S. Dollar-Hedged) | 3.71% | 4.23% | 4.91% | 3.02% | 3.65% | 1.55% | 2.46% | 6.86% | 2.90% | 1.46% | 1.38% | 9.12% |
Frequently Asked Questions
PCLPX and PFORX have a correlation of -0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PCLPX has higher volatility (6.03%) compared to PFORX (1.01%). In terms of maximum drawdown, PCLPX dropped -66.98% vs PFORX's -13.87%.
PCLPX currently has the higher Sharpe Ratio (1.80 vs 0.49), 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.
Find the right allocation for PCLPX and PFORX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer