PMBS vs. EVMO
PMBS (PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund) and EVMO (Eaton Vance Mortgage Opportunities ETF) are both Mortgage Backed Securities funds. Both are actively managed. A 0.57 correlation means they provide meaningful diversification when combined. PMBS charges 0.71%/yr vs 0.45%/yr for EVMO.
Performance
PMBS vs. EVMO - Performance Comparison
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Returns By Period
In the year-to-date period, PMBS achieves a 0.90% return, which is significantly higher than EVMO's 0.73% return.
PMBS
- 1D
- -0.21%
- 1M
- 0.11%
- YTD
- 0.90%
- 6M
- 1.15%
- 1Y
- 7.55%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EVMO
- 1D
- -0.25%
- 1M
- 0.14%
- YTD
- 0.73%
- 6M
- 0.92%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PMBS vs. EVMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PMBS PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund | 0.90% | 3.64% |
EVMO Eaton Vance Mortgage Opportunities ETF | 0.73% | 3.33% |
Correlation
The correlation between PMBS and EVMO is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 5, 2025 | 0.57 |
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Return for Risk
PMBS vs. EVMO — Risk / Return Rank
PMBS
EVMO
PMBS vs. EVMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund (PMBS) and Eaton Vance Mortgage Opportunities ETF (EVMO). 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.
| PMBS | EVMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.33 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.56 | — | — |
| Martin ratioReturn relative to average drawdown | 8.70 | — | — |
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
| PMBS | EVMO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.80 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.83 | 1.76 | -0.93 |
Drawdowns
PMBS vs. EVMO - Drawdown Comparison
The maximum PMBS drawdown since its inception was -4.35%, which is greater than EVMO's maximum drawdown of -1.89%. Use the drawdown chart below to compare losses from any high point for PMBS and EVMO.
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Drawdown Indicators
| PMBS | EVMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.35% | -1.89% | -2.46% |
Max Drawdown (1Y)Largest decline over 1 year | -2.97% | — | — |
Current DrawdownCurrent decline from peak | -1.55% | -0.91% | -0.64% |
Average DrawdownAverage peak-to-trough decline | -1.14% | -0.38% | -0.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.87% | — | — |
Volatility
PMBS vs. EVMO - Volatility Comparison
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Volatility by Period
| PMBS | EVMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.52% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.10% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.22% | 2.83% | +1.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.88% | 2.83% | +2.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.88% | 2.83% | +2.05% |
PMBS vs. EVMO - Expense Ratio Comparison
PMBS has a 0.71% expense ratio, which is higher than EVMO's 0.45% expense ratio.
Dividends
PMBS vs. EVMO - Dividend Comparison
PMBS's dividend yield for the trailing twelve months is around 4.98%, more than EVMO's 4.07% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
EVMO Eaton Vance Mortgage Opportunities ETF | 4.07% | 1.95% | 0.00% |
PMBS PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund | 4.98% | 4.73% | 1.59% |
Frequently Asked Questions
PMBS and EVMO have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EVMO is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EVMO is cheaper with a 0.45% expense ratio, compared with 0.71% for PMBS.
PMBS has the higher dividend yield at 4.98%, compared with 4.07% for EVMO.
They also come from different issuers: PIMCO and Eaton Vance. Their fees differ too: 0.71% for PMBS and 0.45% for EVMO.
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