PQTPX vs. IEF
PQTPX (PIMCO TRENDS Managed Futures Strategy Fund) and IEF (iShares 7-10 Year Treasury Bond ETF) are both funds - PQTPX is a Systematic Trend fund managed by PIMCO, while IEF is a Government Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index. Over the past 10 years, PQTPX returned 4.30%/yr vs 0.63%/yr for IEF. At a correlation of -0.00, they often move in opposite directions. PQTPX charges 1.51%/yr vs 0.15%/yr for IEF.
Performance
PQTPX vs. IEF - Performance Comparison
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Returns By Period
In the year-to-date period, PQTPX achieves a 6.40% return, which is significantly higher than IEF's -0.66% return. Over the past 10 years, PQTPX has outperformed IEF with an annualized return of 4.30%, while IEF has yielded a comparatively lower 0.63% annualized return.
PQTPX
- 1D
- 0.36%
- 1M
- 1.62%
- YTD
- 6.40%
- 6M
- 8.65%
- 1Y
- 20.99%
- 3Y*
- 0.66%
- 5Y*
- 3.74%
- 10Y*
- 4.30%
IEF
- 1D
- -0.25%
- 1M
- -0.08%
- YTD
- -0.66%
- 6M
- -1.17%
- 1Y
- 4.06%
- 3Y*
- 2.47%
- 5Y*
- -1.14%
- 10Y*
- 0.63%
PQTPX vs. IEF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PQTPX PIMCO TRENDS Managed Futures Strategy Fund | 6.40% | 2.41% | -3.08% | -4.21% | 11.37% | 14.83% | 9.72% | 2.83% | 2.30% | 2.21% |
IEF iShares 7-10 Year Treasury Bond ETF | -0.66% | 8.03% | -0.63% | 3.64% | -15.15% | -3.33% | 10.01% | 8.03% | 0.99% | 2.55% |
Correlation
The correlation between PQTPX and IEF is 0.01, 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 | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2014 | -0.00 |
The correlation between PQTPX and IEF shifts across timeframes, from -0.21 (5 years) to 0.01 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PQTPX vs. IEF — Risk / Return Rank
PQTPX
IEF
PQTPX vs. IEF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO TRENDS Managed Futures Strategy Fund (PQTPX) and iShares 7-10 Year Treasury Bond ETF (IEF). 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.
| PQTPX | IEF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.62 | ||
| Sortino ratioReturn per unit of downside risk | +1.98 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.15 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 4.49 | 1.00 | +3.48 |
| Martin ratioReturn relative to average drawdown | 12.74 | 2.98 | +9.76 |
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
| PQTPX | IEF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.47 | 0.85 | +1.62 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.38 | -0.15 | +0.53 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.46 | 0.10 | +0.36 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 0.50 | -0.03 |
Drawdowns
PQTPX vs. IEF - Drawdown Comparison
The maximum PQTPX drawdown since its inception was -27.86%, which is greater than IEF's maximum drawdown of -23.93%. Use the drawdown chart below to compare losses from any high point for PQTPX and IEF.
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Drawdown Indicators
| PQTPX | IEF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.86% | -23.93% | -3.93% |
Max Drawdown (1Y)Largest decline over 1 year | -4.66% | -4.07% | -0.59% |
Max Drawdown (3Y)Largest decline over 3 years | -18.69% | -7.74% | -10.95% |
Max Drawdown (5Y)Largest decline over 5 years | -27.86% | -21.40% | -6.46% |
Max Drawdown (10Y)Largest decline over 10 years | -27.86% | -23.93% | -3.93% |
Current DrawdownCurrent decline from peak | -11.20% | -11.35% | +0.15% |
Average DrawdownAverage peak-to-trough decline | -9.41% | -5.34% | -4.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.64% | 1.37% | +0.27% |
Volatility
PQTPX vs. IEF - Volatility Comparison
PIMCO TRENDS Managed Futures Strategy Fund (PQTPX) has a higher volatility of 1.93% compared to iShares 7-10 Year Treasury Bond ETF (IEF) at 1.54%. This indicates that PQTPX's price experiences larger fluctuations and is considered to be riskier than IEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PQTPX | IEF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.93% | 1.54% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 6.65% | 3.34% | +3.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.46% | 4.78% | +3.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.91% | 7.71% | +2.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.38% | 6.62% | +2.76% |
PQTPX vs. IEF - Expense Ratio Comparison
PQTPX has a 1.51% expense ratio, which is higher than IEF's 0.15% expense ratio.
Dividends
PQTPX vs. IEF - Dividend Comparison
PQTPX has not paid dividends to shareholders, while IEF's dividend yield for the trailing twelve months is around 3.90%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEF iShares 7-10 Year Treasury Bond ETF | 3.90% | 3.77% | 3.62% | 2.91% | 1.96% | 0.83% | 1.08% | 2.08% | 2.24% | 1.82% | 1.81% | 1.90% |
PQTPX PIMCO TRENDS Managed Futures Strategy Fund | 0.00% | 0.00% | 0.00% | 0.00% | 14.80% | 2.40% | 5.63% | 2.49% | 0.32% | 0.20% | 0.00% | 7.57% |
Frequently Asked Questions
PQTPX and IEF have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PQTPX has higher volatility (1.93%) compared to IEF (1.54%). In terms of maximum drawdown, PQTPX dropped -27.86% vs IEF's -23.93%.
PQTPX currently has the higher Sharpe Ratio (2.47 vs 0.85), 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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