PMIF-U.TO vs. HFND

Last updated Jun 4, 2026

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 3 years, PMIF-U.TO returned 6.17%/yr vs 10.03%/yr for HFND. At a 0.17 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

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Monthly Income Fund (Canada) (PMIF-U.TO) and Unlimited HFND Multi-Strategy Return Tracker ETF (HFND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PMIF-U.TO achieves a 0.45% return, which is significantly lower than HFND's 8.56% return.

PMIF-U.TO

• 1D: -0.30%
• 1M: 0.56%
• YTD: 0.45%
• 6M: 0.49%
• 1Y: 6.92%
• 3Y*: 6.17%
• 5Y*: 2.60%
• 10Y*: —

HFND

• 1D: -0.08%
• 1M: 1.07%
• YTD: 8.56%
• 6M: 7.88%
• 1Y: 18.69%
• 3Y*: 10.03%
• 5Y*: —
• 10Y*: —

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

PMIF-U.TO vs. HFND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PMIF-U.TO PIMCO Monthly Income Fund (Canada)	0.45%	9.02%	3.83%	7.22%	3.15%
HFND Unlimited HFND Multi-Strategy Return Tracker ETF	8.56%	8.93%	8.34%	3.58%	2.38%

Correlation

The correlation between PMIF-U.TO and HFND is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (All Time) Calculated using the full available price history since Oct 12, 2022	0.17

Return for Risk

PMIF-U.TO vs. HFND — Risk / Return Rank

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

PMIF-U.TO

PMIF-U.TO Risk / Return Rank: 57
PMIF-U.TO Sharpe Ratio Rank: 62
PMIF-U.TO Sortino Ratio Rank: 66
PMIF-U.TO Omega Ratio Rank: 64
PMIF-U.TO Calmar Ratio Rank: 44
PMIF-U.TO Martin Ratio Rank: 51

HFND

HFND Risk / Return Rank: 67
HFND Sharpe Ratio Rank: 60
HFND Sortino Ratio Rank: 61
HFND Omega Ratio Rank: 63
HFND Calmar Ratio Rank: 76
HFND Martin Ratio Rank: 75

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.

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.

	PMIF-U.TO	HFND	Difference
Sharpe ratio: Return per unit of total volatility	2.06	1.99	+0.06
Sortino ratio: Return per unit of downside risk	3.04	2.82	+0.21
Omega ratio: Gain probability vs. loss probability	1.39	1.37	+0.01
Calmar ratio: Return relative to maximum drawdown	2.16	3.80	-1.64
Martin ratio: Return relative to average drawdown	8.38	14.17	-5.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PMIF-U.TO vs. HFND - Sharpe Ratio Comparison

The current PMIF-U.TO Sharpe Ratio is 2.06, which is comparable to the HFND Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of PMIF-U.TO and HFND, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PMIF-U.TO	HFND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	1.99	+0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.93	-0.34

Drawdowns

PMIF-U.TO vs. HFND - Drawdown Comparison

The maximum PMIF-U.TO drawdown since its inception was -17.24%, which is greater than HFND's maximum drawdown of -13.31%. Use the drawdown chart below to compare losses from any high point for PMIF-U.TO and HFND.

Drawdown Indicators

	PMIF-U.TO	HFND	Difference
Max Drawdown Largest peak-to-trough decline	-17.24%	-13.31%	-3.93%
Max Drawdown (1Y) Largest decline over 1 year	-3.22%	-4.94%	+1.72%
Max Drawdown (3Y) Largest decline over 3 years	-4.15%	-13.31%	+9.16%
Max Drawdown (5Y) Largest decline over 5 years	-11.03%	—	—
Current Drawdown Current decline from peak	-1.16%	-0.53%	-0.63%
Average Drawdown Average peak-to-trough decline	-2.32%	-2.09%	-0.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.83%	1.32%	-0.49%

Volatility

PMIF-U.TO vs. HFND - Volatility Comparison

The current volatility for PIMCO Monthly Income Fund (Canada) (PMIF-U.TO) is 1.26%, while Unlimited HFND Multi-Strategy Return Tracker ETF (HFND) has a volatility of 2.90%. 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.

Volatility by Period

	PMIF-U.TO	HFND	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.26%	2.90%	-1.64%
Volatility (6M) Calculated over the trailing 6-month period	2.51%	7.87%	-5.36%
Volatility (1Y) Calculated over the trailing 1-year period	3.39%	9.42%	-6.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.05%	9.46%	-4.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.71%	9.46%	-2.75%

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 3.94%, less than HFND's 4.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
HFND Unlimited HFND Multi-Strategy Return Tracker ETF	4.68%	5.08%	3.70%	1.41%	0.43%	0.00%	0.00%	0.00%	0.00%
PMIF-U.TO PIMCO Monthly Income Fund (Canada)	3.94%	3.96%	4.91%	4.53%	2.82%	2.40%	2.68%	2.38%	0.59%

Frequently Asked Questions

Can I hold both PMIF-U.TO and HFND in my portfolio?

PMIF-U.TO and HFND have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PMIF-U.TO or HFND?

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.

Which ETF is cheaper, PMIF-U.TO or HFND?

PMIF-U.TO is cheaper with a 0.84% expense ratio, compared with 1.22% for HFND.

What is the main difference between PMIF-U.TO and 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.