PMBS vs. STPZ
PMBS (PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund) and STPZ (PIMCO 1-5 Year US TIPS Index ETF) are both exchange-traded funds - PMBS is a Mortgage Backed Securities fund actively managed by PIMCO, while STPZ is a Inflation-Protected Bonds fund tracking the ICE BofA US Inflation-Linked Treasury (1-5 Y). PMBS is actively managed, while STPZ is passively managed. Over the past year, PMBS returned 7.55% vs 4.51% for STPZ. A 0.61 correlation means they provide meaningful diversification when combined. PMBS charges 0.71%/yr vs 0.20%/yr for STPZ.
Performance
PMBS vs. STPZ - 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 STPZ's 1.79% return.
PMBS
- 1D
- -0.21%
- 1M
- 0.11%
- YTD
- 0.90%
- 6M
- 1.15%
- 1Y
- 7.55%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
STPZ
- 1D
- -0.00%
- 1M
- -0.09%
- YTD
- 1.79%
- 6M
- 1.77%
- 1Y
- 4.51%
- 3Y*
- 5.03%
- 5Y*
- 2.90%
- 10Y*
- 2.89%
PMBS vs. STPZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PMBS PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund | 0.90% | 8.92% | -2.75% |
STPZ PIMCO 1-5 Year US TIPS Index ETF | 1.79% | 6.40% | -0.57% |
Correlation
The correlation between PMBS and STPZ 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 (1Y) Calculated over the trailing 1-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2024 | 0.61 |
The correlation between PMBS and STPZ has been stable across timeframes, ranging from 0.57 to 0.61 - a consistent structural relationship.
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Return for Risk
PMBS vs. STPZ — Risk / Return Rank
PMBS
STPZ
PMBS vs. STPZ - 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 1-5 Year US TIPS Index ETF (STPZ). 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 | STPZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.69 | ||
| Sortino ratioReturn per unit of downside risk | -1.28 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.49 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.56 | 4.87 | -2.31 |
| Martin ratioReturn relative to average drawdown | 8.70 | 16.28 | -7.59 |
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 | STPZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.80 | 2.49 | -0.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.89 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.97 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.83 | 0.90 | -0.08 |
Drawdowns
PMBS vs. STPZ - Drawdown Comparison
The maximum PMBS drawdown since its inception was -4.35%, smaller than the maximum STPZ drawdown of -6.77%. Use the drawdown chart below to compare losses from any high point for PMBS and STPZ.
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Drawdown Indicators
| PMBS | STPZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.35% | -6.77% | +2.42% |
Max Drawdown (1Y)Largest decline over 1 year | -2.97% | -0.93% | -2.04% |
Max Drawdown (3Y)Largest decline over 3 years | — | -1.35% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -6.70% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -6.77% | — |
Current DrawdownCurrent decline from peak | -1.55% | -0.11% | -1.44% |
Average DrawdownAverage peak-to-trough decline | -1.14% | -1.31% | +0.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.87% | 0.28% | +0.59% |
Volatility
PMBS vs. STPZ - Volatility Comparison
PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund (PMBS) has a higher volatility of 1.52% compared to PIMCO 1-5 Year US TIPS Index ETF (STPZ) at 0.46%. This indicates that PMBS's price experiences larger fluctuations and is considered to be riskier than STPZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMBS | STPZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.52% | 0.46% | +1.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.10% | 1.20% | +1.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.22% | 1.83% | +2.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.88% | 3.29% | +1.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.88% | 2.98% | +1.90% |
PMBS vs. STPZ - Expense Ratio Comparison
PMBS has a 0.71% expense ratio, which is higher than STPZ's 0.20% expense ratio.
Dividends
PMBS vs. STPZ - Dividend Comparison
PMBS's dividend yield for the trailing twelve months is around 4.98%, more than STPZ's 4.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
STPZ PIMCO 1-5 Year US TIPS Index ETF | 4.10% | 3.65% | 1.97% | 1.63% | 5.88% | 3.65% | 1.86% | 1.76% | 2.23% | 1.51% | 0.65% | 0.49% |
Frequently Asked Questions
PMBS and STPZ 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.
PMBS has higher volatility (1.52%) compared to STPZ (0.46%). In terms of maximum drawdown, PMBS dropped -4.35% vs STPZ's -6.77%.
On 1-year performance, PMBS leads with 7.55% vs 4.51% for STPZ. On fees, STPZ is cheaper at 0.20% per year. On volatility, STPZ has been the lower-risk option at 0.46%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, PMBS has performed better with a 7.55% return vs 4.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
STPZ is cheaper with a 0.20% expense ratio, compared with 0.71% for PMBS.
PMBS has the higher dividend yield at 4.98%, compared with 4.10% for STPZ.
PMBS is categorized as Mortgage Backed Securities, while STPZ is Inflation-Protected Bonds. Their fees differ too: 0.71% for PMBS and 0.20% for STPZ.
STPZ currently has the higher Sharpe Ratio (2.49 vs 1.80), 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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