PMIF-U.TO vs. HFND
PMIF-U.TO (PIMCO Monthly Income Fund (Canada)) and HFND (Unlimited HFND Multi-Strategy Return Tracker ETF) are both exchange-traded funds - PMIF-U.TO is a Multisector Bonds fund actively managed by PIMCO, while HFND is a Multistrategy fund actively managed by Tidal ETFs. Both are actively managed. Over the past year, PMIF-U.TO returned 7.99% vs 16.83% for HFND. At a 0.20 correlation, their price movements are largely independent. PMIF-U.TO charges 0.84%/yr vs 1.22%/yr for HFND.
Performance
PMIF-U.TO vs. HFND - Performance Comparison
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Returns By Period
In the year-to-date period, PMIF-U.TO achieves a 1.93% return, which is significantly lower than HFND's 8.41% return.
PMIF-U.TO
- 1D
- 0.20%
- 1M
- 1.27%
- YTD
- 1.93%
- 6M
- 2.02%
- 1Y
- 7.99%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HFND
- 1D
- 0.29%
- 1M
- 0.25%
- YTD
- 8.41%
- 6M
- 7.98%
- 1Y
- 16.83%
- 3Y*
- 9.73%
- 5Y*
- —
- 10Y*
- —
PMIF-U.TO vs. HFND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PMIF-U.TO PIMCO Monthly Income Fund (Canada) | 1.93% | 10.75% | 5.77% | 0.26% |
HFND Unlimited HFND Multi-Strategy Return Tracker ETF | 8.41% | 8.93% | 8.34% | -0.15% |
Correlation
The correlation between PMIF-U.TO and HFND is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Dec 28, 2023 | 0.20 |
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Return for Risk
PMIF-U.TO vs. HFND — Risk / Return Rank
PMIF-U.TO
HFND
PMIF-U.TO vs. HFND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Monthly Income Fund (Canada) (PMIF-U.TO) and Unlimited HFND Multi-Strategy Return Tracker ETF (HFND). 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.
| PMIF-U.TO | HFND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.64 | ||
| Sortino ratioReturn per unit of downside risk | +1.02 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.32 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.58 | 3.42 | -0.84 |
| Martin ratioReturn relative to average drawdown | 10.40 | 12.45 | -2.05 |
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Drawdowns
PMIF-U.TO vs. HFND - Drawdown Comparison
The maximum PMIF-U.TO drawdown since its inception was -3.11%, smaller than the maximum HFND drawdown of -13.31%. Use the drawdown chart below to compare losses from any high point for PMIF-U.TO and HFND.
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Drawdown Indicators
| PMIF-U.TO | HFND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.11% | -13.31% | +10.20% |
Max Drawdown (1Y)Largest decline over 1 year | -3.11% | -4.94% | +1.83% |
Max Drawdown (3Y)Largest decline over 3 years | — | -13.31% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.07% | +1.07% |
Average DrawdownAverage peak-to-trough decline | -0.54% | -2.08% | +1.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 1.35% | -0.58% |
Volatility
PMIF-U.TO vs. HFND - Volatility Comparison
The current volatility for PIMCO Monthly Income Fund (Canada) (PMIF-U.TO) is 1.17%, while Unlimited HFND Multi-Strategy Return Tracker ETF (HFND) has a volatility of 3.30%. This indicates that PMIF-U.TO experiences smaller price fluctuations and is considered to be less risky than HFND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMIF-U.TO | HFND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 3.30% | -2.13% |
Volatility (6M)Calculated over the trailing 6-month period | 2.62% | 8.10% | -5.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.40% | 9.80% | -6.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.88% | 9.52% | -5.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.88% | 9.52% | -5.64% |
PMIF-U.TO vs. HFND - Expense Ratio Comparison
PMIF-U.TO has a 0.84% expense ratio, which is lower than HFND's 1.22% expense ratio.
Dividends
PMIF-U.TO vs. HFND - Dividend Comparison
PMIF-U.TO's dividend yield for the trailing twelve months is around 5.50%, more than HFND's 4.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HFND Unlimited HFND Multi-Strategy Return Tracker ETF | 4.69% | 5.08% | 3.70% | 1.41% | 0.43% |
PMIF-U.TO PIMCO Monthly Income Fund (Canada) | 5.50% | 5.50% | 6.78% | 0.00% | 0.00% |
Frequently Asked Questions
PMIF-U.TO and HFND have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PMIF-U.TO is cheaper at 0.84% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PMIF-U.TO is cheaper with a 0.84% expense ratio, compared with 1.22% for HFND.
PMIF-U.TO is categorized as Multisector Bonds, while HFND is Multistrategy. They also come from different issuers: PIMCO and Tidal ETFs. Their fees differ too: 0.84% for PMIF-U.TO and 1.22% for HFND.
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