PMBS vs. MFDX

Last updated Apr 1, 2026

Compare and contrast key facts about PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund (PMBS) and PIMCO RAFI Dynamic Multi-Factor International Equity ETF (MFDX).

PMBS and MFDX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PMBS is an actively managed fund by PIMCO. It was launched on Jul 31, 1997. MFDX is a passively managed fund by PIMCO that tracks the performance of the RAFI Dynamic Multi-Factor Developed Ex-U.S. Index. It was launched on Aug 31, 2017.

Performance

PMBS vs. MFDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund (PMBS) and PIMCO RAFI Dynamic Multi-Factor International Equity ETF (MFDX). The values are adjusted to include any dividend payments, if applicable.

PMBS vs. MFDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PMBS PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund	0.61%	8.92%	-2.75%
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF	5.36%	34.27%	-7.24%

Returns By Period

In the year-to-date period, PMBS achieves a 0.61% return, which is significantly lower than MFDX's 5.36% return.

PMBS

• 1D: 0.33%
• 1M: -1.84%
• YTD: 0.61%
• 6M: 2.40%
• 1Y: 6.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MFDX

• 1D: 1.67%
• 1M: -4.40%
• YTD: 5.36%
• 6M: 9.87%
• 1Y: 30.54%
• 3Y*: 17.30%
• 5Y*: 10.40%
• 10Y*: —

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

PMBS vs. MFDX - Expense Ratio Comparison

PMBS has a 0.71% expense ratio, which is higher than MFDX's 0.39% expense ratio.

PMBS

PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund

MFDX

PIMCO RAFI Dynamic Multi-Factor International Equity ETF

Return for Risk

PMBS vs. MFDX — Risk / Return Rank

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

PMBS

PMBS Risk / Return Rank: 68
PMBS Sharpe Ratio Rank: 71
PMBS Sortino Ratio Rank: 72
PMBS Omega Ratio Rank: 62
PMBS Calmar Ratio Rank: 76
PMBS Martin Ratio Rank: 59

MFDX

MFDX Risk / Return Rank: 89
MFDX Sharpe Ratio Rank: 89
MFDX Sortino Ratio Rank: 90
MFDX Omega Ratio Rank: 89
MFDX Calmar Ratio Rank: 87
MFDX Martin Ratio Rank: 88

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.

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 ratio Return per unit of total volatility	1.31	1.96	-0.65
Sortino ratio Return per unit of downside risk	1.86	2.62	-0.76
Omega ratio Gain probability vs. loss probability	1.24	1.39	-0.15
Calmar ratio Return relative to maximum drawdown	2.09	2.88	-0.80
Martin ratio Return relative to average drawdown	6.06	11.67	-5.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PMBS vs. MFDX - Sharpe Ratio Comparison

The current PMBS Sharpe Ratio is 1.31, which is lower than the MFDX Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of PMBS and MFDX, 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

	PMBS	MFDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.31	1.96	-0.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.70	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.87	0.52	+0.35

Correlation

The correlation between PMBS and MFDX is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

PMBS vs. MFDX - Dividend Comparison

PMBS's dividend yield for the trailing twelve months is around 4.94%, more than MFDX's 2.91% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
PMBS PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund	4.58%	4.73%	1.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF	2.91%	2.97%	3.16%	3.12%	2.85%	2.99%	1.58%	2.88%	2.13%	0.71%

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.

Drawdown Indicators

	PMBS	MFDX	Difference
Max Drawdown Largest peak-to-trough decline	-4.35%	-36.05%	+31.70%
Max Drawdown (1Y) Largest decline over 1 year	-3.04%	-10.66%	+7.62%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.58%	—
Current Drawdown Current decline from peak	-1.84%	-5.75%	+3.91%
Average Drawdown Average peak-to-trough decline	-1.11%	-6.58%	+5.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.05%	2.63%	-1.58%

Volatility

PMBS vs. MFDX - Volatility Comparison

The current volatility for PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund (PMBS) is 1.94%, while PIMCO RAFI Dynamic Multi-Factor International Equity ETF (MFDX) has a volatility of 6.96%. 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.

Volatility by Period

	PMBS	MFDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.94%	6.96%	-5.02%
Volatility (6M) Calculated over the trailing 6-month period	2.87%	10.39%	-7.52%
Volatility (1Y) Calculated over the trailing 1-year period	4.77%	15.69%	-10.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.94%	14.96%	-10.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.94%	16.42%	-11.48%