PGBIX vs. EUHY
PGBIX (PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) Class I) and EUHY (iShares Euro High Yield Corporate Bond USD Hedged ETF) are both funds - PGBIX is a Global Bonds fund actively managed by PIMCO, while EUHY is a High Yield Bonds fund tracking the BBG Pan-European High Yield (Euro) Total Return 100% USD Hedged Index. PGBIX is actively managed, while EUHY is passively managed. Over the past 10 years, PGBIX returned 3.23%/yr vs 3.67%/yr for EUHY. At a 0.18 correlation, their price movements are largely independent. PGBIX charges 0.55%/yr vs 0.35%/yr for EUHY.
Performance
PGBIX vs. EUHY - Performance Comparison
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Returns By Period
In the year-to-date period, PGBIX achieves a -0.66% return, which is significantly lower than EUHY's 2.05% return. Over the past 10 years, PGBIX has underperformed EUHY with an annualized return of 3.23%, while EUHY has yielded a comparatively higher 3.67% annualized return.
PGBIX
- 1D
- -0.21%
- 1M
- 0.83%
- YTD
- -0.66%
- 6M
- -0.83%
- 1Y
- 4.56%
- 3Y*
- 5.72%
- 5Y*
- 2.43%
- 10Y*
- 3.23%
EUHY
- 1D
- 0.12%
- 1M
- 0.98%
- YTD
- 2.05%
- 6M
- 2.59%
- 1Y
- 5.75%
- 3Y*
- 9.92%
- 5Y*
- 1.97%
- 10Y*
- 3.67%
PGBIX vs. EUHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PGBIX PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) Class I | -0.66% | 8.61% | 4.38% | 6.94% | -5.74% | -0.49% | 7.33% | 6.78% | -0.45% | 4.33% |
EUHY iShares Euro High Yield Corporate Bond USD Hedged ETF | 2.05% | 17.41% | -0.55% | 16.06% | -15.59% | -3.78% | 10.69% | 8.60% | -7.71% | 19.68% |
Correlation
The correlation between PGBIX and EUHY is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Apr 4, 2012 | 0.18 |
Over the past year, PGBIX and EUHY have become more correlated (0.55) than their long-term average of 0.18, meaning their price movements have been converging.
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Return for Risk
PGBIX vs. EUHY — Risk / Return Rank
PGBIX
EUHY
PGBIX vs. EUHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) Class I (PGBIX) and iShares Euro High Yield Corporate Bond USD Hedged ETF (EUHY). 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.
| PGBIX | EUHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.20 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.16 | 1.65 | -0.49 |
| Martin ratioReturn relative to average drawdown | 3.84 | 3.95 | -0.10 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PGBIX | EUHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.19 | 1.05 | +0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.71 | 0.20 | +0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.07 | 0.35 | +0.72 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.00 | 0.34 | +0.65 |
Drawdowns
PGBIX vs. EUHY - Drawdown Comparison
The maximum PGBIX drawdown since its inception was -14.22%, smaller than the maximum EUHY drawdown of -32.45%. Use the drawdown chart below to compare losses from any high point for PGBIX and EUHY.
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Drawdown Indicators
| PGBIX | EUHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.22% | -32.45% | +18.23% |
Max Drawdown (1Y)Largest decline over 1 year | -4.25% | -3.50% | -0.75% |
Max Drawdown (3Y)Largest decline over 3 years | -4.25% | -8.23% | +3.98% |
Max Drawdown (5Y)Largest decline over 5 years | -9.52% | -32.45% | +22.93% |
Max Drawdown (10Y)Largest decline over 10 years | -9.98% | -32.45% | +22.47% |
Current DrawdownCurrent decline from peak | -1.64% | -0.03% | -1.61% |
Average DrawdownAverage peak-to-trough decline | -2.15% | -8.58% | +6.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.28% | 1.46% | -0.18% |
Volatility
PGBIX vs. EUHY - Volatility Comparison
PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) Class I (PGBIX) has a higher volatility of 1.46% compared to iShares Euro High Yield Corporate Bond USD Hedged ETF (EUHY) at 1.07%. This indicates that PGBIX's price experiences larger fluctuations and is considered to be riskier than EUHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PGBIX | EUHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.46% | 1.07% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 3.59% | 2.88% | +0.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.13% | 5.51% | -1.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.44% | 10.00% | -6.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.03% | 10.43% | -7.40% |
PGBIX vs. EUHY - Expense Ratio Comparison
PGBIX has a 0.55% expense ratio, which is higher than EUHY's 0.35% expense ratio.
Dividends
PGBIX vs. EUHY - Dividend Comparison
PGBIX's dividend yield for the trailing twelve months is around 5.05%, less than EUHY's 5.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUHY iShares Euro High Yield Corporate Bond USD Hedged ETF | 5.33% | 3.56% | 5.11% | 3.38% | 0.61% | 3.07% | 1.45% | 1.19% | 4.01% | 0.69% | 1.70% | 3.24% |
PGBIX PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged) Class I | 5.05% | 4.79% | 4.07% | 2.33% | 7.55% | 2.95% | 2.24% | 4.10% | 2.14% | 3.09% | 2.58% | 5.81% |
Frequently Asked Questions
PGBIX and EUHY have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PGBIX has higher volatility (1.46%) compared to EUHY (1.07%). In terms of maximum drawdown, PGBIX dropped -14.22% vs EUHY's -32.45%.
PGBIX currently has the higher Sharpe Ratio (1.19 vs 1.05), 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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