PFL.TO vs. CORE.TO
PFL.TO (Invesco Canadian Government Floating Rate Index ETF) and CORE.TO (PIMCO Canadian Core Bond Fund) are both Canadian Government Bonds funds. PFL.TO is passively managed, while CORE.TO is actively managed. Over the past year, PFL.TO returned 2.77% vs 5.16% for CORE.TO. At a 0.05 correlation, their price movements are largely independent.
Performance
PFL.TO vs. CORE.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PFL.TO achieves a 1.26% return, which is significantly lower than CORE.TO's 2.70% return.
PFL.TO
- 1D
- 0.10%
- 1M
- 0.25%
- 6M
- 1.26%
- YTD
- 1.26%
- 1Y
- 2.77%
- 3Y*
- 3.75%
- 5Y*
- 3.13%
- 10Y*
- 2.16%
CORE.TO
- 1D
- 0.05%
- 1M
- 0.45%
- 6M
- 3.01%
- YTD
- 2.70%
- 1Y
- 5.16%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PFL.TO vs. CORE.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PFL.TO Invesco Canadian Government Floating Rate Index ETF | 1.26% | 3.00% | 1.49% |
CORE.TO PIMCO Canadian Core Bond Fund | 2.70% | 4.02% | 0.92% |
Correlation
The correlation between PFL.TO and CORE.TO is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Aug 19, 2024 | 0.05 |
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
PFL.TO vs. CORE.TO — Risk / Return Rank
PFL.TO
CORE.TO
PFL.TO vs. CORE.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Canadian Government Floating Rate Index ETF (PFL.TO) and PIMCO Canadian Core Bond Fund (CORE.TO). 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.
| PFL.TO | CORE.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.15 | ||
| Sortino ratioReturn per unit of downside risk | +4.17 | ||
| Omega ratioGain probability vs. loss probability | 1.81 | 1.22 | +0.59 |
| Calmar ratioReturn relative to maximum drawdown | 18.12 | 1.73 | +16.39 |
| Martin ratioReturn relative to average drawdown | 58.96 | 4.44 | +54.52 |
Loading charts...
Drawdowns
PFL.TO vs. CORE.TO - Drawdown Comparison
The maximum PFL.TO drawdown since its inception was -2.07%, smaller than the maximum CORE.TO drawdown of -3.48%. Use the drawdown chart below to compare losses from any high point for PFL.TO and CORE.TO.
Loading charts...
Drawdown Indicators
| PFL.TO | CORE.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.07% | -3.48% | +1.41% |
Max Drawdown (1Y)Largest decline over 1 year | -0.15% | -2.99% | +2.84% |
Max Drawdown (3Y)Largest decline over 3 years | -0.22% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -0.30% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -2.07% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.49% | +0.49% |
Average DrawdownAverage peak-to-trough decline | -0.08% | -1.31% | +1.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | 1.16% | -1.11% |
Volatility
PFL.TO vs. CORE.TO - Volatility Comparison
The current volatility for Invesco Canadian Government Floating Rate Index ETF (PFL.TO) is 0.28%, while PIMCO Canadian Core Bond Fund (CORE.TO) has a volatility of 1.34%. This indicates that PFL.TO experiences smaller price fluctuations and is considered to be less risky than CORE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PFL.TO | CORE.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.28% | 1.34% | -1.06% |
Volatility (6M)Calculated over the trailing 6-month period | 0.56% | 3.18% | -2.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.82% | 4.17% | -3.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.97% | 4.99% | -4.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.33% | 4.99% | -3.66% |
Dividends
PFL.TO vs. CORE.TO - Dividend Comparison
PFL.TO's dividend yield for the trailing twelve months is around 2.63%, less than CORE.TO's 3.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CORE.TO PIMCO Canadian Core Bond Fund | 3.34% | 3.42% | 0.32% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PFL.TO Invesco Canadian Government Floating Rate Index ETF | 2.63% | 2.95% | 5.23% | 5.13% | 2.22% | 0.36% | 1.21% | 2.10% | 1.59% | 0.95% | 0.81% | 0.95% |
Frequently Asked Questions
PFL.TO and CORE.TO have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Invesco and PIMCO.
Find the right allocation for PFL.TO and CORE.TO
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