PMBS vs. MFDX
PMBS (PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund) and MFDX (PIMCO RAFI Dynamic Multi-Factor International Equity ETF) are both exchange-traded funds - PMBS is a Mortgage Backed Securities fund actively managed by PIMCO, while MFDX is a Foreign Large Cap Equities fund tracking the RAFI Dynamic Multi-Factor Developed Ex-U.S. Index. PMBS is actively managed, while MFDX is passively managed. Over the past year, PMBS returned 7.55% vs 23.13% for MFDX. At a 0.37 correlation, their price movements are largely independent. PMBS charges 0.71%/yr vs 0.39%/yr for MFDX.
Performance
PMBS vs. MFDX - Performance Comparison
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Returns By Period
In the year-to-date period, PMBS achieves a 0.90% return, which is significantly lower than MFDX's 9.73% return.
PMBS
- 1D
- -0.21%
- 1M
- 0.11%
- YTD
- 0.90%
- 6M
- 1.15%
- 1Y
- 7.55%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MFDX
- 1D
- -0.55%
- 1M
- 2.31%
- YTD
- 9.73%
- 6M
- 12.33%
- 1Y
- 23.13%
- 3Y*
- 18.62%
- 5Y*
- 9.92%
- 10Y*
- —
PMBS vs. MFDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PMBS PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund | 0.90% | 8.92% | -2.75% |
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF | 9.73% | 34.27% | -7.24% |
Correlation
The correlation between PMBS and MFDX is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2024 | 0.37 |
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Return for Risk
PMBS vs. MFDX — Risk / Return Rank
PMBS
MFDX
PMBS vs. MFDX - 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 PIMCO RAFI Dynamic Multi-Factor International Equity ETF (MFDX). 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 | MFDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.31 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.56 | 2.18 | +0.38 |
| Martin ratioReturn relative to average drawdown | 8.70 | 8.66 | +0.04 |
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 | MFDX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.80 | 1.70 | +0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.66 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.83 | 0.54 | +0.28 |
Drawdowns
PMBS vs. MFDX - Drawdown Comparison
The maximum PMBS drawdown since its inception was -4.35%, smaller than the maximum MFDX drawdown of -36.05%. Use the drawdown chart below to compare losses from any high point for PMBS and MFDX.
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Drawdown Indicators
| PMBS | MFDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.35% | -36.05% | +31.70% |
Max Drawdown (1Y)Largest decline over 1 year | -2.97% | -10.66% | +7.69% |
Max Drawdown (3Y)Largest decline over 3 years | — | -11.62% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.58% | — |
Current DrawdownCurrent decline from peak | -1.55% | -1.84% | +0.29% |
Average DrawdownAverage peak-to-trough decline | -1.14% | -6.50% | +5.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.87% | 2.68% | -1.81% |
Volatility
PMBS vs. MFDX - Volatility Comparison
The current volatility for PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund (PMBS) is 1.52%, while PIMCO RAFI Dynamic Multi-Factor International Equity ETF (MFDX) has a volatility of 4.45%. This indicates that PMBS experiences smaller price fluctuations and is considered to be less risky than MFDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMBS | MFDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.52% | 4.45% | -2.93% |
Volatility (6M)Calculated over the trailing 6-month period | 3.10% | 11.34% | -8.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.22% | 13.73% | -9.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.88% | 15.03% | -10.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.88% | 16.41% | -11.53% |
PMBS vs. MFDX - Expense Ratio Comparison
PMBS has a 0.71% expense ratio, which is higher than MFDX's 0.39% expense ratio.
Dividends
PMBS vs. MFDX - Dividend Comparison
PMBS's dividend yield for the trailing twelve months is around 4.98%, more than MFDX's 2.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF | 2.79% | 2.97% | 3.16% | 3.12% | 2.85% | 2.99% | 1.58% | 2.88% | 2.13% | 0.71% |
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% |
Frequently Asked Questions
PMBS and MFDX have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MFDX has higher volatility (4.45%) compared to PMBS (1.52%). In terms of maximum drawdown, PMBS dropped -4.35% vs MFDX's -36.05%.
On 1-year performance, MFDX leads with 23.13% vs 7.55% for PMBS. On fees, MFDX is cheaper at 0.39% per year. On volatility, PMBS has been the lower-risk option at 1.52%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, MFDX has performed better with a 23.13% return vs 7.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MFDX is cheaper with a 0.39% expense ratio, compared with 0.71% for PMBS.
PMBS has the higher dividend yield at 4.98%, compared with 2.79% for MFDX.
PMBS is categorized as Mortgage Backed Securities, while MFDX is Foreign Large Cap Equities. Their fees differ too: 0.71% for PMBS and 0.39% for MFDX.
PMBS currently has the higher Sharpe Ratio (1.80 vs 1.70), 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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