PCOR.TO vs. USHY
PCOR.TO (PIMCO Managed Core Bond Pool) and USHY (iShares Broad USD High Yield Corporate Bond ETF) are both exchange-traded funds - PCOR.TO is a Intermediate Core-Plus Bond fund actively managed by PIMCO Canada Corp., while USHY is a High Yield Bonds fund tracking the ICE BofA US High Yield Constrained Index. PCOR.TO is actively managed, while USHY is passively managed. Over the past 5 years, PCOR.TO returned 1.69%/yr vs 6.34%/yr for USHY. At a 0.18 correlation, their price movements are largely independent. PCOR.TO charges 0.64%/yr vs 0.15%/yr for USHY.
Performance
PCOR.TO vs. USHY - Performance Comparison
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Different Trading Currencies
PCOR.TO is traded in CAD, while USHY is traded in USD. To make them comparable, the USHY values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, PCOR.TO achieves a -0.72% return, which is significantly lower than USHY's 4.24% return.
PCOR.TO
- 1D
- -0.17%
- 1M
- -1.49%
- 6M
- -1.21%
- YTD
- -0.72%
- 1Y
- 3.37%
- 3Y*
- 5.10%
- 5Y*
- 1.69%
- 10Y*
- —
- ALL TIME*
- 2.03%
USHY
- 1D
- -0.09%
- 1M
- -1.21%
- 6M
- 2.92%
- YTD
- 4.24%
- 1Y
- 8.59%
- 3Y*
- 10.78%
- 5Y*
- 6.34%
- 10Y*
- —
- ALL TIME*
- 5.84%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
PCOR.TO PIMCO Managed Core Bond Pool | CA$100.86K | CA$154.41K | CA$133.29K |
| CA$551.53M | CA$590.96M | CA$552.89M |
PCOR.TO vs. USHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
PCOR.TO PIMCO Managed Core Bond Pool | -0.72% | 7.70% | 3.89% | 8.31% | -9.47% | 0.70% | 3.73% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 4.38% | 3.85% | 17.64% | 10.05% | -5.55% | 4.97% | 1.23% |
Correlation
The correlation between PCOR.TO and USHY is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 2020 | 0.18 |
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Return for Risk
PCOR.TO vs. USHY — Risk / Return Rank
PCOR.TO
USHY
PCOR.TO vs. USHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Managed Core Bond Pool (PCOR.TO) and iShares Broad USD High Yield Corporate Bond ETF (USHY). 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.
| PCOR.TO | USHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.92 | ||
| Sortino ratioReturn per unit of downside risk | -1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.27 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.11 | 2.39 | -1.28 |
| Martin ratioReturn relative to average drawdown | 2.86 | 6.54 | -3.68 |
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Drawdowns
PCOR.TO vs. USHY - Drawdown Comparison
The maximum PCOR.TO drawdown since its inception was -13.53%, smaller than the maximum USHY drawdown of -15.72%. Use the drawdown chart below to compare losses from any high point for PCOR.TO and USHY.
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Drawdown Indicators
| PCOR.TO | USHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.53% | -15.72% | +2.19% |
Max Drawdown (1Y)Largest decline over 1 year | -3.06% | -3.61% | +0.55% |
Max Drawdown (3Y)Largest decline over 3 years | -3.79% | -7.64% | +3.85% |
Max Drawdown (5Y)Largest decline over 5 years | -13.53% | -15.72% | +2.19% |
Current DrawdownCurrent decline from peak | -2.22% | -1.73% | -0.49% |
Average DrawdownAverage peak-to-trough decline | -3.46% | -2.49% | -0.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.18% | 1.32% | -0.14% |
Volatility
PCOR.TO vs. USHY - Volatility Comparison
PIMCO Managed Core Bond Pool (PCOR.TO) and iShares Broad USD High Yield Corporate Bond ETF (USHY) have volatilities of 1.04% and 1.05%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PCOR.TO | USHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.04% | 1.05% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 3.41% | 4.37% | -0.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.51% | 5.61% | -0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.71% | 9.69% | -1.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.40% | 10.16% | -2.76% |
PCOR.TO vs. USHY - Expense Ratio Comparison
PCOR.TO has a 0.64% expense ratio, which is higher than USHY's 0.15% expense ratio.
Dividends
PCOR.TO vs. USHY - Dividend Comparison
PCOR.TO's dividend yield for the trailing twelve months is around 4.95%, less than USHY's 6.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
PCOR.TO PIMCO Managed Core Bond Pool | 4.95% | 5.30% | 5.40% | 3.50% | 3.41% | 2.81% | 2.24% | 0.00% | 0.00% | 0.00% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 6.95% | 6.79% | 6.89% | 6.63% | 6.08% | 5.07% | 5.30% | 5.92% | 6.30% | 0.73% |
Frequently Asked Questions
PCOR.TO and USHY have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, USHY is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
USHY is cheaper with a 0.15% expense ratio, compared with 0.64% for PCOR.TO.
PCOR.TO is categorized as Intermediate Core-Plus Bond, while USHY is High Yield Bonds. They also come from different issuers: PIMCO Canada Corp. and iShares. Their fees differ too: 0.64% for PCOR.TO and 0.15% for USHY.
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