PMBS vs. FCG
PMBS (PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund) and FCG (First Trust Natural Gas ETF) are both exchange-traded funds - PMBS is a Mortgage Backed Securities fund actively managed by PIMCO, while FCG is a Energy Equities fund tracking the Nasdaq FactSet Natural Gas Index. PMBS is actively managed, while FCG is passively managed. Over the past year, PMBS returned 3.73% vs 30.04% for FCG. Their -0.21 correlation means they have often moved in opposite directions in the past. PMBS charges 0.71%/yr vs 0.59%/yr for FCG.
Performance
PMBS vs. FCG - Performance Comparison
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Returns By Period
In the year-to-date period, PMBS achieves a 0.07% return, which is significantly lower than FCG's 25.55% return.
PMBS
- 1D
- 0.23%
- 1M
- -1.24%
- 6M
- -0.59%
- YTD
- 0.07%
- 1Y
- 3.73%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.15%
FCG
- 1D
- -0.89%
- 1M
- 10.02%
- 6M
- 18.75%
- YTD
- 25.55%
- 1Y
- 30.04%
- 3Y*
- 6.75%
- 5Y*
- 19.99%
- 10Y*
- 4.37%
- ALL TIME*
- -4.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $20.29M | $18.94M | $23.89M | |
| $4.24M | $3.71M | $5.44M |
PMBS vs. FCG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PMBS PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund | 0.07% | 8.92% | -2.80% |
FCG First Trust Natural Gas ETF | 25.55% | -2.28% | 2.24% |
Correlation
The correlation between PMBS and FCG is -0.36, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.36 |
Correlation (All Time) Calculated using the full available price history since Sep 23, 2024 | -0.21 |
The correlation between PMBS and FCG shifts across timeframes, from -0.36 (1 year) to -0.21 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PMBS vs. FCG — Risk / Return Rank
PMBS
FCG
PMBS vs. FCG - 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 First Trust Natural Gas ETF (FCG). 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.
| PMBS | FCG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.19 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.26 | 1.53 | -0.27 |
| Martin ratioReturn relative to average drawdown | 3.46 | 3.84 | -0.38 |
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Drawdowns
PMBS vs. FCG - Drawdown Comparison
The maximum PMBS drawdown since its inception was -4.35%, smaller than the maximum FCG drawdown of -97.20%. Use the drawdown chart below to compare losses from any high point for PMBS and FCG.
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Drawdown Indicators
| PMBS | FCG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.35% | -97.20% | +92.85% |
Max Drawdown (1Y)Largest decline over 1 year | -2.97% | -19.67% | +16.70% |
Max Drawdown (3Y)Largest decline over 3 years | — | -29.44% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.33% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -85.04% | — |
Current DrawdownCurrent decline from peak | -2.37% | -74.69% | +72.32% |
Average DrawdownAverage peak-to-trough decline | -1.18% | -65.45% | +64.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 7.85% | -6.77% |
Volatility
PMBS vs. FCG - Volatility Comparison
The current volatility for PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund (PMBS) is 1.30%, while First Trust Natural Gas ETF (FCG) has a volatility of 8.92%. This indicates that PMBS experiences smaller price fluctuations and is considered to be less risky than FCG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMBS | FCG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.30% | 8.92% | -7.62% |
Volatility (6M)Calculated over the trailing 6-month period | 3.39% | 21.33% | -17.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.14% | 27.35% | -23.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.85% | 33.06% | -28.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.85% | 38.24% | -33.39% |
PMBS vs. FCG - Expense Ratio Comparison
PMBS has a 0.71% expense ratio, which is higher than FCG's 0.59% expense ratio.
Dividends
PMBS vs. FCG - Dividend Comparison
PMBS's dividend yield for the trailing twelve months is around 4.98%, more than FCG's 2.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCG First Trust Natural Gas ETF | 2.19% | 2.86% | 2.76% | 3.25% | 3.04% | 1.73% | 3.82% | 2.87% | 1.46% | 1.56% | 1.70% | 4.79% |
PMBS PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund | 4.98% | 4.73% | 1.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PMBS and FCG have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FCG has higher volatility (8.92%) compared to PMBS (1.30%). In terms of maximum drawdown, PMBS dropped -4.35% vs FCG's -97.20%.
On 1-year performance, FCG leads with 30.04% vs 3.73% for PMBS. On fees, FCG is cheaper at 0.59% per year. On volatility, PMBS has been the lower-risk option at 1.30%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FCG has performed better with a 30.04% return vs 3.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FCG is cheaper with a 0.59% expense ratio, compared with 0.71% for PMBS.
PMBS has the higher dividend yield at 4.98%, compared with 2.19% for FCG.
PMBS is categorized as Mortgage Backed Securities, while FCG is Energy Equities. They also come from different issuers: PIMCO and First Trust. Their fees differ too: 0.71% for PMBS and 0.59% for FCG.
FCG currently has the higher Sharpe Ratio (1.11 vs 0.91), 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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