PMNT.TO vs. UBIL-U.TO

Last updated Jul 25, 2026

PMNT.TO (PIMCO Global Short Maturity Fund (Canada)) and UBIL-U.TO (Global X 0-3 Month U.S. T-Bill ETF USD) are both Ultrashort Bond funds. Both are actively managed. Over the past 3 years, PMNT.TO returned 4.19%/yr vs 7.38%/yr for UBIL-U.TO. At a 0.02 correlation, their price movements are largely independent. PMNT.TO charges 0.39%/yr vs 0.12%/yr for UBIL-U.TO.

Performance

PMNT.TO vs. UBIL-U.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in PIMCO Global Short Maturity Fund (Canada) (PMNT.TO) and Global X 0-3 Month U.S. T-Bill ETF USD (UBIL-U.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

PMNT.TO is traded in CAD, while UBIL-U.TO is traded in USD. To make them comparable, the UBIL-U.TO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, PMNT.TO achieves a 1.64% return, which is significantly lower than UBIL-U.TO's 4.90% return.

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%

UBIL-U.TO

• 1D: 0.05%
• 1M: -0.54%
• 6M: 4.03%
• YTD: 4.90%
• 1Y: 7.58%
• 3Y*: 7.38%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.85%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PMNT.TO PIMCO Global Short Maturity Fund (Canada)	CA$53.98K	CA$50.33K	CA$54.94K
UBIL-U.TO Global X 0-3 Month U.S. T-Bill ETF USD	CA$564.22K	CA$837.17K	CA$1.02M

PMNT.TO vs. UBIL-U.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PMNT.TO PIMCO Global Short Maturity Fund (Canada)	1.64%	3.11%	5.26%	3.91%
UBIL-U.TO Global X 0-3 Month U.S. T-Bill ETF USD	4.90%	-0.54%	14.42%	4.09%

Correlation

The correlation between PMNT.TO and UBIL-U.TO is -0.09, 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	-0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (All Time) Calculated using the full available price history since Apr 14, 2023	0.02

The correlation between PMNT.TO and UBIL-U.TO shifts across timeframes, from -0.09 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PMNT.TO vs. UBIL-U.TO — Risk / Return Rank

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

PMNT.TO

PMNT.TO Risk / Return Rank: 77
PMNT.TO Sharpe Ratio Rank: 62
PMNT.TO Sortino Ratio Rank: 60
PMNT.TO Omega Ratio Rank: 83
PMNT.TO Calmar Ratio Rank: 90
PMNT.TO Martin Ratio Rank: 88

UBIL-U.TO

UBIL-U.TO Risk / Return Rank: 100
UBIL-U.TO Sharpe Ratio Rank: 100
UBIL-U.TO Sortino Ratio Rank: 100
UBIL-U.TO Omega Ratio Rank: 100
UBIL-U.TO Calmar Ratio Rank: 100
UBIL-U.TO Martin Ratio Rank: 100

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.

PMNT.TO vs. UBIL-U.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 0-3 Month U.S. T-Bill ETF USD (UBIL-U.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	UBIL-U.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.44	1.77	-0.33
Sortino ratio: Return per unit of downside risk	2.03	2.48	-0.44
Omega ratio: Gain probability vs. loss probability	1.36	1.33	+0.03
Calmar ratio: Return relative to maximum drawdown	4.02	2.06	+1.96
Martin ratio: Return relative to average drawdown	13.37	5.58	+7.79

PMNT.TO vs. UBIL-U.TO - Sharpe Ratio Comparison

The current PMNT.TO Sharpe Ratio is 1.44, which is comparable to the UBIL-U.TO Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of PMNT.TO and UBIL-U.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PMNT.TO vs. UBIL-U.TO - Drawdown Comparison

The maximum PMNT.TO drawdown since its inception was -6.81%, which is greater than UBIL-U.TO's maximum drawdown of -6.39%. Use the drawdown chart below to compare losses from any high point for PMNT.TO and UBIL-U.TO.

Drawdown Indicators

	PMNT.TO	UBIL-U.TO	Difference
Max Drawdown Largest peak-to-trough decline	-6.81%	-6.39%	-0.42%
Max Drawdown (1Y) Largest decline over 1 year	-0.63%	-3.70%	+3.07%
Max Drawdown (3Y) Largest decline over 3 years	-1.15%	-6.39%	+5.24%
Max Drawdown (5Y) Largest decline over 5 years	-1.94%	—	—
Current Drawdown Current decline from peak	0.00%	-0.73%	+0.73%
Average Drawdown Average peak-to-trough decline	-0.36%	-1.80%	+1.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.20%	1.36%	-1.16%

Volatility

PMNT.TO vs. UBIL-U.TO - Volatility Comparison

The current volatility for PIMCO Global Short Maturity Fund (Canada) (PMNT.TO) is 0.23%, while Global X 0-3 Month U.S. T-Bill ETF USD (UBIL-U.TO) has a volatility of 0.99%. This indicates that PMNT.TO experiences smaller price fluctuations and is considered to be less risky than UBIL-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PMNT.TO	UBIL-U.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.23%	0.99%	-0.76%
Volatility (6M) Calculated over the trailing 6-month period	0.70%	3.25%	-2.55%
Volatility (1Y) Calculated over the trailing 1-year period	1.77%	4.30%	-2.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.13%	5.35%	-3.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.18%	5.35%	-2.17%

PMNT.TO vs. UBIL-U.TO - Expense Ratio Comparison

PMNT.TO has a 0.39% expense ratio, which is higher than UBIL-U.TO's 0.12% expense ratio.

Dividends

PMNT.TO vs. UBIL-U.TO - Dividend Comparison

PMNT.TO's dividend yield for the trailing twelve months is around 4.38%, more than UBIL-U.TO's 3.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
PMNT.TO PIMCO Global Short Maturity Fund (Canada)	4.38%	4.65%	5.48%	4.92%	2.60%	1.17%	2.68%	2.09%
UBIL-U.TO Global X 0-3 Month U.S. T-Bill ETF USD	3.65%	4.15%	5.35%	4.96%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PMNT.TO and UBIL-U.TO in my portfolio?

PMNT.TO and UBIL-U.TO have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PMNT.TO or UBIL-U.TO?

On fees, UBIL-U.TO is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PMNT.TO or UBIL-U.TO?

UBIL-U.TO is cheaper with a 0.12% expense ratio, compared with 0.39% for PMNT.TO.

What is the main difference between PMNT.TO and UBIL-U.TO?

They also come from different issuers: PIMCO Canada Corp. and Global X. Their fees differ too: 0.39% for PMNT.TO and 0.12% for UBIL-U.TO.