PMNT.TO vs. HFR.TO
PMNT.TO (PIMCO Global Short Maturity Fund (Canada)) and HFR.TO (Global X Active Ultra-Short Term Investment Grade Bond ETF) are both Ultrashort Bond funds. Both are actively managed. Over the past 5 years, PMNT.TO returned 2.97%/yr vs 3.90%/yr for HFR.TO. At a 0.03 correlation, their price movements are largely independent. PMNT.TO charges 0.39%/yr vs 0.46%/yr for HFR.TO.
Performance
PMNT.TO vs. HFR.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with PMNT.TO having a 1.64% return and HFR.TO slightly lower at 1.57%.
PMNT.TO
- 1D
- 0.10%
- 1M
- 0.15%
- 6M
- 1.35%
- YTD
- 1.64%
- 1Y
- 2.52%
- 3Y*
- 4.19%
- 5Y*
- 2.97%
- 10Y*
- —
- ALL TIME*
- 2.53%
HFR.TO
- 1D
- 0.00%
- 1M
- 0.09%
- 6M
- 1.27%
- YTD
- 1.57%
- 1Y
- 3.38%
- 3Y*
- 5.39%
- 5Y*
- 3.90%
- 10Y*
- 3.25%
- ALL TIME*
- 2.88%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$383.96K | CA$421.08K | CA$591.60K | |
| CA$53.98K | CA$50.33K | CA$54.94K |
PMNT.TO vs. HFR.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PMNT.TO PIMCO Global Short Maturity Fund (Canada) | 1.64% | 3.11% | 5.26% | 5.42% | -0.37% | 0.35% | 1.21% | 2.41% |
HFR.TO Global X Active Ultra-Short Term Investment Grade Bond ETF | 1.57% | 4.04% | 6.89% | 7.86% | -0.77% | 0.68% | 3.52% | 3.55% |
Correlation
The correlation between PMNT.TO and HFR.TO is 0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2019 | 0.03 |
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Return for Risk
PMNT.TO vs. HFR.TO — Risk / Return Rank
PMNT.TO
HFR.TO
PMNT.TO vs. HFR.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Global Short Maturity Fund (Canada) (PMNT.TO) and Global X Active Ultra-Short Term Investment Grade Bond ETF (HFR.TO). 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.
| PMNT.TO | HFR.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.31 | ||
| Sortino ratioReturn per unit of downside risk | -2.44 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.66 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 4.02 | 8.47 | -4.46 |
| Martin ratioReturn relative to average drawdown | 13.37 | 32.20 | -18.84 |
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Drawdowns
PMNT.TO vs. HFR.TO - Drawdown Comparison
The maximum PMNT.TO drawdown since its inception was -6.81%, smaller than the maximum HFR.TO drawdown of -22.56%. Use the drawdown chart below to compare losses from any high point for PMNT.TO and HFR.TO.
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Drawdown Indicators
| PMNT.TO | HFR.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.81% | -22.56% | +15.75% |
Max Drawdown (1Y)Largest decline over 1 year | -0.63% | -0.40% | -0.23% |
Max Drawdown (3Y)Largest decline over 3 years | -1.15% | -0.52% | -0.63% |
Max Drawdown (5Y)Largest decline over 5 years | -1.94% | -3.51% | +1.57% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.56% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.10% | +0.10% |
Average DrawdownAverage peak-to-trough decline | -0.36% | -0.37% | +0.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.20% | 0.11% | +0.09% |
Volatility
PMNT.TO vs. HFR.TO - Volatility Comparison
The current volatility for PIMCO Global Short Maturity Fund (Canada) (PMNT.TO) is 0.23%, while Global X Active Ultra-Short Term Investment Grade Bond ETF (HFR.TO) has a volatility of 0.30%. This indicates that PMNT.TO experiences smaller price fluctuations and is considered to be less risky than HFR.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMNT.TO | HFR.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.23% | 0.30% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 0.70% | 0.89% | -0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.77% | 1.24% | +0.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.13% | 1.78% | +0.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.18% | 5.77% | -2.59% |
PMNT.TO vs. HFR.TO - Expense Ratio Comparison
PMNT.TO has a 0.39% expense ratio, which is lower than HFR.TO's 0.46% expense ratio.
Dividends
PMNT.TO vs. HFR.TO - Dividend Comparison
PMNT.TO's dividend yield for the trailing twelve months is around 4.38%, more than HFR.TO's 3.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HFR.TO Global X Active Ultra-Short Term Investment Grade Bond ETF | 3.63% | 3.76% | 4.50% | 5.67% | 3.40% | 1.28% | 2.69% | 2.60% | 2.36% | 2.12% | 2.00% | 2.14% |
PMNT.TO PIMCO Global Short Maturity Fund (Canada) | 4.38% | 4.65% | 5.48% | 4.92% | 2.60% | 1.17% | 2.68% | 2.09% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PMNT.TO and HFR.TO have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PMNT.TO is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PMNT.TO is cheaper with a 0.39% expense ratio, compared with 0.46% for HFR.TO.
They also come from different issuers: PIMCO Canada Corp. and Global X. Their fees differ too: 0.39% for PMNT.TO and 0.46% for HFR.TO.
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