PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
PFIA.TO vs. VSBIX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PFIA.TO vs. VSBIX

Last updated Jul 15, 2026
Documentation

PFIA.TO (Picton Mahoney Fortified Income Alternative Fund) and VSBIX (Vanguard Short-Term Treasury Index Fund Institutional Shares) are both funds - PFIA.TO is a fund fund, while VSBIX is a Government Bonds fund managed by Vanguard. Over the past 5 years, PFIA.TO returned 3.45%/yr vs 4.46%/yr for VSBIX. At a correlation of -0.00, they often move in opposite directions.

Performance

PFIA.TO vs. VSBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Picton Mahoney Fortified Income Alternative Fund (PFIA.TO) and Vanguard Short-Term Treasury Index Fund Institutional Shares (VSBIX). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

PFIA.TO is traded in CAD, while VSBIX is traded in USD. To make them comparable, the VSBIX values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, PFIA.TO achieves a 0.95% return, which is significantly lower than VSBIX's 4.03% return.

PFIA.TO

1D
0.20%
1M
0.23%
6M
0.85%
YTD
0.95%
1Y
3.59%
3Y*
5.78%
5Y*
3.45%
10Y*
—

VSBIX

1D
-0.08%
1M
1.39%
6M
2.63%
YTD
4.03%
1Y
6.60%
3Y*
7.03%
5Y*
4.46%
10Y*
2.71%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PFIA.TO vs. VSBIX - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
PFIA.TO
Picton Mahoney Fortified Income Alternative Fund		0.95%5.42%7.76%7.26%-3.42%3.17%9.26%3.58%
VSBIX
Vanguard Short-Term Treasury Index Fund Institutional Shares		4.03%0.31%13.21%1.80%2.23%-0.72%0.66%1.39%

Correlation

The correlation between PFIA.TO and VSBIX is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.01

Correlation (3Y)
Calculated over the trailing 3-year period

0.03

Correlation (5Y)
Calculated over the trailing 5-year period

0.01

Correlation (All Time)
Calculated using the full available price history since Jul 16, 2019

-0.00

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Picton Mahoney Fortified Income Alternative Fund

Vanguard Short-Term Treasury Index Fund Institutional Shares

Often compared with PFIA.TO:
PFIA.TO vs. PMIF.TOPFIA.TO vs. PFMN.TOPFIA.TO vs. CASH.TOPFIA.TO vs. VDY.TOPFIA.TO vs. XBAL.TOPFIA.TO vs. BSVPFIA.TO vs. XCB.TO
Often compared with VSBIX:
VSBIX vs. VGSHVSBIX vs. XSB.TOVSBIX vs. PRXCXVSBIX vs. XBB.TOVSBIX vs. XHB.TOVSBIX vs. VSBSXVSBIX vs. BND

Return for Risk

PFIA.TO vs. VSBIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PFIA.TO
PFIA.TO Risk / Return Rank: 5858
Overall Rank
PFIA.TO Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
PFIA.TO Sortino Ratio Rank: 5757
Sortino Ratio Rank
PFIA.TO Omega Ratio Rank: 5959
Omega Ratio Rank
PFIA.TO Calmar Ratio Rank: 6767
Calmar Ratio Rank
PFIA.TO Martin Ratio Rank: 5454
Martin Ratio Rank
VSBIX
VSBIX Risk / Return Rank: 9090
Overall Rank
VSBIX Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
VSBIX Sortino Ratio Rank: 9191
Sortino Ratio Rank
VSBIX Omega Ratio Rank: 8787
Omega Ratio Rank
VSBIX Calmar Ratio Rank: 9191
Calmar Ratio Rank
VSBIX Martin Ratio Rank: 9393
Martin Ratio Rank
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.

PFIA.TO vs. VSBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Picton Mahoney Fortified Income Alternative Fund (PFIA.TO) and Vanguard Short-Term Treasury Index Fund Institutional Shares (VSBIX). 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.

PFIA.TOVSBIXDifference
Sharpe ratioReturn per unit of total volatility
1.48
1.51

-0.02

Sortino ratioReturn per unit of downside risk
2.19
2.17

+0.02

Omega ratioGain probability vs. loss probability

1.29

1.27

+0.02

Calmar ratioReturn relative to maximum drawdown

2.66

1.78

+0.88

Martin ratioReturn relative to average drawdown

7.44

4.38

+3.06

PFIA.TO vs. VSBIX - Sharpe Ratio Comparison

The current PFIA.TO Sharpe Ratio is 1.48, which is comparable to the VSBIX Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of PFIA.TO and VSBIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

PFIA.TO vs. VSBIX - Drawdown Comparison

The maximum PFIA.TO drawdown since its inception was -17.12%, roughly equal to the maximum VSBIX drawdown of -16.40%. Use the drawdown chart below to compare losses from any high point for PFIA.TO and VSBIX.

Loading charts...

Drawdown Indicators

PFIA.TOVSBIXDifference

Max Drawdown

Largest peak-to-trough decline

-17.12%

-16.40%

-0.72%

Max Drawdown (1Y)

Largest decline over 1 year

-1.36%

-3.88%

+2.52%

Max Drawdown (3Y)

Largest decline over 3 years

-1.47%

-5.98%

+4.51%

Max Drawdown (5Y)

Largest decline over 5 years

-6.46%

-6.40%

-0.06%

Max Drawdown (10Y)

Largest decline over 10 years

—

-16.40%

—

Current Drawdown

Current decline from peak

-0.10%

-0.57%

+0.47%

Average Drawdown

Average peak-to-trough decline

-1.11%

-6.20%

+5.09%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.48%

1.57%

-1.09%

Volatility

PFIA.TO vs. VSBIX - Volatility Comparison

The current volatility for Picton Mahoney Fortified Income Alternative Fund (PFIA.TO) is 0.64%, while Vanguard Short-Term Treasury Index Fund Institutional Shares (VSBIX) has a volatility of 1.19%. This indicates that PFIA.TO experiences smaller price fluctuations and is considered to be less risky than VSBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

PFIA.TOVSBIXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.64%

1.19%

-0.55%

Volatility (6M)

Calculated over the trailing 6-month period

1.93%

3.35%

-1.42%

Volatility (1Y)

Calculated over the trailing 1-year period

2.45%

4.58%

-2.13%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

4.19%

6.52%

-2.33%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.36%

6.80%

-0.44%

Dividends

PFIA.TO vs. VSBIX - Dividend Comparison

PFIA.TO's dividend yield for the trailing twelve months is around 4.67%, more than VSBIX's 3.85% yield.

PositionTTM20252024202320222021202020192018201720162015
PFIA.TO
Picton Mahoney Fortified Income Alternative Fund		4.67%3.97%3.66%5.63%4.69%4.25%6.02%1.66%0.00%0.00%0.00%0.00%
VSBIX
Vanguard Short-Term Treasury Index Fund Institutional Shares		3.85%3.99%4.52%3.31%1.14%0.65%1.74%2.28%1.81%1.11%0.80%0.74%

Frequently Asked Questions

PFIA.TO and VSBIX have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Portfolio Optimizer

Find the right allocation for PFIA.TO and VSBIX

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