PIFI vs. BFIX

Last updated Apr 1, 2026

Compare and contrast key facts about ClearShares Piton Intermediate Fixed Income ETF (PIFI) and Build Bond Innovation ETF (BFIX).

PIFI and BFIX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PIFI is an actively managed fund by ClearShares. It was launched on Oct 1, 2020. BFIX is an actively managed fund by Build. It was launched on Feb 9, 2022.

Performance

PIFI vs. BFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ClearShares Piton Intermediate Fixed Income ETF (PIFI) and Build Bond Innovation ETF (BFIX). The values are adjusted to include any dividend payments, if applicable.

PIFI vs. BFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PIFI ClearShares Piton Intermediate Fixed Income ETF	0.11%	6.29%	2.52%	4.61%	-4.93%
BFIX Build Bond Innovation ETF	1.25%	5.91%	12.95%	4.97%	-6.82%

Returns By Period

In the year-to-date period, PIFI achieves a 0.11% return, which is significantly lower than BFIX's 1.25% return.

PIFI

• 1D: 0.24%
• 1M: -1.21%
• YTD: 0.11%
• 6M: 1.14%
• 1Y: 4.15%
• 3Y*: 3.69%
• 5Y*: 1.20%
• 10Y*: —

BFIX

• 1D: 0.17%
• 1M: -0.41%
• YTD: 1.25%
• 6M: 2.16%
• 1Y: 5.26%
• 3Y*: 7.75%
• 5Y*: —
• 10Y*: —

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

PIFI vs. BFIX - Expense Ratio Comparison

Both PIFI and BFIX have an expense ratio of 0.45%.

PIFI

ClearShares Piton Intermediate Fixed Income ETF

BFIX

Build Bond Innovation ETF

Return for Risk

PIFI vs. BFIX — Risk / Return Rank

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

PIFI

PIFI Risk / Return Rank: 77
PIFI Sharpe Ratio Rank: 77
PIFI Sortino Ratio Rank: 81
PIFI Omega Ratio Rank: 70
PIFI Calmar Ratio Rank: 81
PIFI Martin Ratio Rank: 74

BFIX

BFIX Risk / Return Rank: 89
BFIX Sharpe Ratio Rank: 86
BFIX Sortino Ratio Rank: 91
BFIX Omega Ratio Rank: 83
BFIX Calmar Ratio Rank: 96
BFIX Martin Ratio Rank: 91

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.

PIFI vs. BFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ClearShares Piton Intermediate Fixed Income ETF (PIFI) and Build Bond Innovation ETF (BFIX). 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.

	PIFI	BFIX	Difference
Sharpe ratio Return per unit of total volatility	1.44	1.74	-0.29
Sortino ratio Return per unit of downside risk	2.16	2.66	-0.50
Omega ratio Gain probability vs. loss probability	1.26	1.33	-0.06
Calmar ratio Return relative to maximum drawdown	2.28	4.49	-2.21
Martin ratio Return relative to average drawdown	8.00	12.08	-4.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PIFI vs. BFIX - Sharpe Ratio Comparison

The current PIFI Sharpe Ratio is 1.44, which is comparable to the BFIX Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of PIFI and BFIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PIFI	BFIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.44	1.74	-0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	0.87	-0.63

Correlation

The correlation between PIFI and BFIX is 0.48, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

PIFI vs. BFIX - Dividend Comparison

PIFI's dividend yield for the trailing twelve months is around 3.75%, more than BFIX's 3.58% yield.

	TTM	2025	2024	2023	2022	2021
PIFI ClearShares Piton Intermediate Fixed Income ETF	3.75%	3.16%	2.92%	2.29%	1.22%	0.25%
BFIX Build Bond Innovation ETF	3.58%	3.73%	4.38%	4.30%	1.58%	0.00%

Drawdowns

PIFI vs. BFIX - Drawdown Comparison

The maximum PIFI drawdown since its inception was -10.59%, which is greater than BFIX's maximum drawdown of -8.03%. Use the drawdown chart below to compare losses from any high point for PIFI and BFIX.

Drawdown Indicators

	PIFI	BFIX	Difference
Max Drawdown Largest peak-to-trough decline	-10.59%	-8.03%	-2.56%
Max Drawdown (1Y) Largest decline over 1 year	-1.85%	-1.22%	-0.63%
Max Drawdown (5Y) Largest decline over 5 years	-10.41%	—	—
Current Drawdown Current decline from peak	-1.21%	-0.42%	-0.79%
Average Drawdown Average peak-to-trough decline	-3.29%	-2.85%	-0.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.53%	0.46%	+0.07%

Volatility

PIFI vs. BFIX - Volatility Comparison

ClearShares Piton Intermediate Fixed Income ETF (PIFI) has a higher volatility of 1.11% compared to Build Bond Innovation ETF (BFIX) at 0.62%. This indicates that PIFI's price experiences larger fluctuations and is considered to be riskier than BFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PIFI	BFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.11%	0.62%	+0.49%
Volatility (6M) Calculated over the trailing 6-month period	1.77%	2.24%	-0.47%
Volatility (1Y) Calculated over the trailing 1-year period	2.88%	3.05%	-0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.64%	4.84%	-1.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.51%	4.84%	-1.33%