PFUIX vs. FGBRX

Last updated Jun 4, 2026

PFUIX (PIMCO International Bond Fund (Unhedged)) and FGBRX (Templeton Global Bond Fund - Class R) are both Global Bonds funds. Over the past 10 years, PFUIX returned 0.60%/yr vs 0.05%/yr for FGBRX. At a 0.22 correlation, their price movements are largely independent. PFUIX charges 0.50%/yr vs 1.24%/yr for FGBRX.

Performance

PFUIX vs. FGBRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO International Bond Fund (Unhedged) (PFUIX) and Templeton Global Bond Fund - Class R (FGBRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PFUIX achieves a -0.83% return, which is significantly lower than FGBRX's 2.05% return. Over the past 10 years, PFUIX has outperformed FGBRX with an annualized return of 0.60%, while FGBRX has yielded a comparatively lower 0.05% annualized return.

PFUIX

• 1D: 0.13%
• 1M: 0.60%
• YTD: -0.83%
• 6M: -0.12%
• 1Y: 1.52%
• 3Y*: 4.57%
• 5Y*: -2.16%
• 10Y*: 0.60%

FGBRX

• 1D: 0.14%
• 1M: 0.43%
• YTD: 2.05%
• 6M: 2.24%
• 1Y: 6.54%
• 3Y*: 2.10%
• 5Y*: -1.01%
• 10Y*: 0.05%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PFUIX vs. FGBRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PFUIX PIMCO International Bond Fund (Unhedged)	-0.83%	10.90%	-1.64%	6.42%	-19.10%	-6.08%	12.32%	7.09%	-3.64%	10.82%
FGBRX Templeton Global Bond Fund - Class R	2.05%	14.81%	-12.18%	2.18%	-6.40%	-5.30%	-4.65%	0.38%	1.01%	2.10%

Correlation

The correlation between PFUIX and FGBRX is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.36
Correlation (All Time) Calculated using the full available price history since Feb 3, 2009	0.22

Over the past year, PFUIX and FGBRX have become more correlated (0.83) than their long-term average of 0.22, meaning their price movements have been converging.

Return for Risk

PFUIX vs. FGBRX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PFUIX

PFUIX Risk / Return Rank: 3
PFUIX Sharpe Ratio Rank: 3
PFUIX Sortino Ratio Rank: 3
PFUIX Omega Ratio Rank: 3
PFUIX Calmar Ratio Rank: 3
PFUIX Martin Ratio Rank: 4

FGBRX

FGBRX Risk / Return Rank: 11
FGBRX Sharpe Ratio Rank: 11
FGBRX Sortino Ratio Rank: 11
FGBRX Omega Ratio Rank: 11
FGBRX Calmar Ratio Rank: 10
FGBRX Martin Ratio Rank: 11

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.

PFUIX vs. FGBRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO International Bond Fund (Unhedged) (PFUIX) and Templeton Global Bond Fund - Class R (FGBRX). 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.

	PFUIX	FGBRX	Difference
Sharpe ratio: Return per unit of total volatility	0.17	0.89	-0.71
Sortino ratio: Return per unit of downside risk	0.31	1.30	-0.99
Omega ratio: Gain probability vs. loss probability	1.04	1.16	-0.13
Calmar ratio: Return relative to maximum drawdown	0.20	1.01	-0.81
Martin ratio: Return relative to average drawdown	0.55	3.28	-2.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PFUIX vs. FGBRX - Sharpe Ratio Comparison

The current PFUIX Sharpe Ratio is 0.17, which is lower than the FGBRX Sharpe Ratio of 0.89. The chart below compares the historical Sharpe Ratios of PFUIX and FGBRX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PFUIX	FGBRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.17	0.89	-0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.28	-0.12	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.08	0.01	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.23	+0.15

Drawdowns

PFUIX vs. FGBRX - Drawdown Comparison

The maximum PFUIX drawdown since its inception was -31.90%, which is greater than FGBRX's maximum drawdown of -27.46%. Use the drawdown chart below to compare losses from any high point for PFUIX and FGBRX.

Drawdown Indicators

	PFUIX	FGBRX	Difference
Max Drawdown Largest peak-to-trough decline	-31.90%	-27.46%	-4.44%
Max Drawdown (1Y) Largest decline over 1 year	-6.40%	-6.38%	-0.02%
Max Drawdown (3Y) Largest decline over 3 years	-7.69%	-13.09%	+5.40%
Max Drawdown (5Y) Largest decline over 5 years	-30.30%	-19.87%	-10.43%
Max Drawdown (10Y) Largest decline over 10 years	-31.90%	-27.46%	-4.44%
Current Drawdown Current decline from peak	-13.18%	-14.48%	+1.30%
Average Drawdown Average peak-to-trough decline	-7.98%	-8.36%	+0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.30%	1.95%	+0.35%

Volatility

PFUIX vs. FGBRX - Volatility Comparison

PIMCO International Bond Fund (Unhedged) (PFUIX) has a higher volatility of 2.40% compared to Templeton Global Bond Fund - Class R (FGBRX) at 2.10%. This indicates that PFUIX's price experiences larger fluctuations and is considered to be riskier than FGBRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PFUIX	FGBRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.40%	2.10%	+0.30%
Volatility (6M) Calculated over the trailing 6-month period	5.78%	5.93%	-0.15%
Volatility (1Y) Calculated over the trailing 1-year period	7.33%	7.25%	+0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.69%	8.14%	-0.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.37%	7.27%	+0.10%

PFUIX vs. FGBRX - Expense Ratio Comparison

PFUIX has a 0.50% expense ratio, which is lower than FGBRX's 1.24% expense ratio.

Dividends

PFUIX vs. FGBRX - Dividend Comparison

PFUIX's dividend yield for the trailing twelve months is around 4.03%, less than FGBRX's 4.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGBRX Templeton Global Bond Fund - Class R	4.80%	4.10%	5.49%	3.61%	4.92%	5.11%	4.34%	5.86%	6.27%	3.08%	2.10%	2.85%
PFUIX PIMCO International Bond Fund (Unhedged)	4.03%	3.98%	4.10%	2.98%	2.83%	5.07%	1.57%	2.28%	4.39%	1.41%	1.98%	1.94%

Frequently Asked Questions

Can I hold both PFUIX and FGBRX in my portfolio?

PFUIX and FGBRX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PFUIX or FGBRX?

PFUIX has higher volatility (2.40%) compared to FGBRX (2.10%). In terms of maximum drawdown, PFUIX dropped -31.90% vs FGBRX's -27.46%.

Which has better risk-adjusted returns?

FGBRX currently has the higher Sharpe Ratio (0.89 vs 0.17), 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.