PFUIX vs. IGOV
PFUIX (PIMCO International Bond Fund (Unhedged)) and IGOV (iShares International Treasury Bond ETF) are both funds - PFUIX is a Global Bonds fund managed by PIMCO, while IGOV is a International Government Bonds fund tracking the FTSE World Government Bond Index - Developed Markets Capped Select Index. Over the past 10 years, PFUIX returned 0.40%/yr vs -1.47%/yr for IGOV. Their correlation of 0.80 suggests significant overlap in exposure. PFUIX charges 0.50%/yr vs 0.35%/yr for IGOV.
Performance
PFUIX vs. IGOV - Performance Comparison
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Returns By Period
In the year-to-date period, PFUIX achieves a -1.74% return, which is significantly lower than IGOV's -1.54% return. Over the past 10 years, PFUIX has outperformed IGOV with an annualized return of 0.40%, while IGOV has yielded a comparatively lower -1.47% annualized return.
PFUIX
- 1D
- -0.39%
- 1M
- 0.20%
- YTD
- -1.74%
- 6M
- -0.91%
- 1Y
- 0.33%
- 3Y*
- 4.02%
- 5Y*
- -2.02%
- 10Y*
- 0.40%
IGOV
- 1D
- -0.44%
- 1M
- -0.99%
- YTD
- -1.54%
- 6M
- -1.25%
- 1Y
- -1.38%
- 3Y*
- 1.82%
- 5Y*
- -4.29%
- 10Y*
- -1.47%
PFUIX vs. IGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PFUIX PIMCO International Bond Fund (Unhedged) | -1.74% | 10.90% | -1.64% | 6.42% | -19.10% | -6.08% | 12.32% | 7.09% | -3.64% | 10.82% |
IGOV iShares International Treasury Bond ETF | -1.54% | 9.96% | -6.50% | 5.57% | -22.07% | -9.25% | 10.88% | 3.76% | -2.60% | 11.38% |
Correlation
The correlation between PFUIX and IGOV is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Jan 29, 2009 | 0.80 |
The correlation between PFUIX and IGOV shifts across timeframes, from 0.80 (all time) to 0.91 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PFUIX vs. IGOV — Risk / Return Rank
PFUIX
IGOV
PFUIX vs. IGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO International Bond Fund (Unhedged) (PFUIX) and iShares International Treasury Bond ETF (IGOV). 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.
| PFUIX | IGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 0.98 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.05 | -0.24 | +0.30 |
| Martin ratioReturn relative to average drawdown | 0.14 | -0.54 | +0.68 |
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Drawdowns
PFUIX vs. IGOV - Drawdown Comparison
The maximum PFUIX drawdown since its inception was -31.90%, smaller than the maximum IGOV drawdown of -35.88%. Use the drawdown chart below to compare losses from any high point for PFUIX and IGOV.
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Drawdown Indicators
| PFUIX | IGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.90% | -35.88% | +3.98% |
Max Drawdown (1Y)Largest decline over 1 year | -6.40% | -5.70% | -0.70% |
Max Drawdown (3Y)Largest decline over 3 years | -7.69% | -10.65% | +2.96% |
Max Drawdown (5Y)Largest decline over 5 years | -29.65% | -32.92% | +3.27% |
Max Drawdown (10Y)Largest decline over 10 years | -31.90% | -35.88% | +3.98% |
Current DrawdownCurrent decline from peak | -13.98% | -24.80% | +10.82% |
Average DrawdownAverage peak-to-trough decline | -7.99% | -11.05% | +3.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.44% | 2.56% | -0.12% |
Volatility
PFUIX vs. IGOV - Volatility Comparison
The current volatility for PIMCO International Bond Fund (Unhedged) (PFUIX) is 2.07%, while iShares International Treasury Bond ETF (IGOV) has a volatility of 2.28%. This indicates that PFUIX experiences smaller price fluctuations and is considered to be less risky than IGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFUIX | IGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.07% | 2.28% | -0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 5.91% | 6.36% | -0.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.34% | 8.15% | -0.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.69% | 9.97% | -2.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.37% | 8.61% | -1.24% |
PFUIX vs. IGOV - Expense Ratio Comparison
PFUIX has a 0.50% expense ratio, which is higher than IGOV's 0.35% expense ratio.
Dividends
PFUIX vs. IGOV - Dividend Comparison
PFUIX's dividend yield for the trailing twelve months is around 4.07%, more than IGOV's 1.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGOV iShares International Treasury Bond ETF | 1.43% | 1.41% | 0.59% | 0.00% | 0.11% | 0.39% | 0.00% | 0.24% | 0.31% | 0.19% | 0.69% | 0.12% |
PFUIX PIMCO International Bond Fund (Unhedged) | 4.07% | 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
With a correlation of 0.91, PFUIX and IGOV move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
IGOV has higher volatility (2.28%) compared to PFUIX (2.07%). In terms of maximum drawdown, PFUIX dropped -31.90% vs IGOV's -35.88%.
PFUIX currently has the higher Sharpe Ratio (0.05 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.
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