PFORX vs. FTBFX
PFORX (PIMCO International Bond Fund (U.S. Dollar-Hedged)) and FTBFX (Fidelity Total Bond Fund) are both mutual funds - PFORX is a Global Bonds fund managed by PIMCO, while FTBFX is a Intermediate Core-Plus Bond fund actively managed by Fidelity. Over the past 10 years, PFORX returned 2.83%/yr vs 2.43%/yr for FTBFX. At a 0.49 correlation, their price movements are largely independent. PFORX charges 0.50%/yr vs 0.45%/yr for FTBFX.
Performance
PFORX vs. FTBFX - Performance Comparison
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Returns By Period
In the year-to-date period, PFORX achieves a -0.18% return, which is significantly lower than FTBFX's 0.57% return. Over the past 10 years, PFORX has outperformed FTBFX with an annualized return of 2.83%, while FTBFX has yielded a comparatively lower 2.43% annualized return.
PFORX
- 1D
- 0.31%
- 1M
- 1.49%
- YTD
- -0.18%
- 6M
- 0.36%
- 1Y
- 2.47%
- 3Y*
- 5.31%
- 5Y*
- 1.43%
- 10Y*
- 2.83%
FTBFX
- 1D
- 0.53%
- 1M
- 1.21%
- YTD
- 0.57%
- 6M
- 1.02%
- 1Y
- 5.30%
- 3Y*
- 4.80%
- 5Y*
- 0.60%
- 10Y*
- 2.43%
PFORX vs. FTBFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PFORX PIMCO International Bond Fund (U.S. Dollar-Hedged) | -0.18% | 4.33% | 5.70% | 9.52% | -10.33% | -1.67% | 6.17% | 7.64% | 2.64% | 3.52% |
FTBFX Fidelity Total Bond Fund | 0.57% | 7.50% | 2.13% | 7.25% | -13.58% | -0.44% | 9.34% | 9.89% | -0.66% | 4.19% |
Correlation
The correlation between PFORX and FTBFX is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2002 | 0.49 |
The correlation between PFORX and FTBFX shifts across timeframes, from 0.49 (all time) to 0.67 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PFORX vs. FTBFX — Risk / Return Rank
PFORX
FTBFX
PFORX vs. FTBFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO International Bond Fund (U.S. Dollar-Hedged) (PFORX) and Fidelity Total Bond Fund (FTBFX). 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.
| PFORX | FTBFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.74 | ||
| Sortino ratioReturn per unit of downside risk | -1.10 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.24 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.60 | 1.80 | -1.20 |
| Martin ratioReturn relative to average drawdown | 1.78 | 5.30 | -3.52 |
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Drawdowns
PFORX vs. FTBFX - Drawdown Comparison
The maximum PFORX drawdown since its inception was -13.87%, smaller than the maximum FTBFX drawdown of -18.25%. Use the drawdown chart below to compare losses from any high point for PFORX and FTBFX.
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Drawdown Indicators
| PFORX | FTBFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.87% | -18.25% | +4.38% |
Max Drawdown (1Y)Largest decline over 1 year | -3.99% | -2.89% | -1.10% |
Max Drawdown (3Y)Largest decline over 3 years | -3.99% | -5.82% | +1.83% |
Max Drawdown (5Y)Largest decline over 5 years | -13.71% | -18.25% | +4.54% |
Max Drawdown (10Y)Largest decline over 10 years | -13.87% | -18.25% | +4.38% |
Current DrawdownCurrent decline from peak | -1.67% | -1.31% | -0.36% |
Average DrawdownAverage peak-to-trough decline | -1.95% | -2.32% | +0.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.33% | 0.98% | +0.35% |
Volatility
PFORX vs. FTBFX - Volatility Comparison
The current volatility for PIMCO International Bond Fund (U.S. Dollar-Hedged) (PFORX) is 1.33%, while Fidelity Total Bond Fund (FTBFX) has a volatility of 1.43%. This indicates that PFORX experiences smaller price fluctuations and is considered to be less risky than FTBFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFORX | FTBFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.33% | 1.43% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 3.38% | 2.85% | +0.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.82% | 3.84% | -0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.62% | 5.67% | -2.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.16% | 4.73% | -1.57% |
PFORX vs. FTBFX - Expense Ratio Comparison
PFORX has a 0.50% expense ratio, which is higher than FTBFX's 0.45% expense ratio.
Dividends
PFORX vs. FTBFX - Dividend Comparison
PFORX's dividend yield for the trailing twelve months is around 4.12%, less than FTBFX's 4.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTBFX Fidelity Total Bond Fund | 4.36% | 4.36% | 4.15% | 4.15% | 2.54% | 1.89% | 5.22% | 3.03% | 3.19% | 2.97% | 3.61% | 3.30% |
PFORX PIMCO International Bond Fund (U.S. Dollar-Hedged) | 4.12% | 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
PFORX and FTBFX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FTBFX has higher volatility (1.43%) compared to PFORX (1.33%). In terms of maximum drawdown, PFORX dropped -13.87% vs FTBFX's -18.25%.
FTBFX currently has the higher Sharpe Ratio (1.36 vs 0.63), 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.
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