PRAIX vs. PFORX
PRAIX (PIMCO Long-Term Real Return Fund) and PFORX (PIMCO International Bond Fund (U.S. Dollar-Hedged)) are both mutual funds - PRAIX is a Inflation-Protected Bonds fund managed by PIMCO, while PFORX is a Global Bonds fund managed by PIMCO. Over the past 10 years, PRAIX returned 0.18%/yr vs 2.58%/yr for PFORX. Their 0.39 correlation means their historical movements had little consistent relationship. Both charge a 0.50% expense ratio.
Performance
PRAIX vs. PFORX - Performance Comparison
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Returns By Period
In the year-to-date period, PRAIX achieves a -4.92% return, which is significantly lower than PFORX's -0.68% return. Over the past 10 years, PRAIX has underperformed PFORX with an annualized return of 0.18%, while PFORX has yielded a comparatively higher 2.58% annualized return.
PRAIX
- 1D
- -0.47%
- 1M
- -4.61%
- 6M
- -4.26%
- YTD
- -4.92%
- 1Y
- -2.85%
- 3Y*
- -1.40%
- 5Y*
- -7.98%
- 10Y*
- 0.18%
- ALL TIME*
- 4.50%
PFORX
- 1D
- -0.10%
- 1M
- -1.53%
- 6M
- -1.08%
- YTD
- -0.68%
- 1Y
- 1.20%
- 3Y*
- 4.97%
- 5Y*
- 1.17%
- 10Y*
- 2.58%
- ALL TIME*
- 5.53%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PRAIX vs. PFORX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRAIX PIMCO Long-Term Real Return Fund | -4.92% | 5.26% | -4.11% | 0.14% | -33.83% | 7.21% | 27.16% | 19.62% | -6.49% | 8.84% |
PFORX PIMCO International Bond Fund (U.S. Dollar-Hedged) | -0.68% | 4.33% | 5.70% | 9.52% | -10.33% | -1.67% | 6.17% | 7.64% | 2.64% | 3.52% |
Correlation
The correlation between PRAIX and PFORX is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.62 |
Correlation (3Y) Balances recent behavior with more history. | 0.50 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.44 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.41 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2002 | 0.39 |
Over the past year, PRAIX and PFORX have become more correlated (0.62) than their long-term average of 0.39, meaning their price movements have been converging.
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Return for Risk
PRAIX vs. PFORX — Risk / Return Rank
PRAIX
PFORX
PRAIX vs. PFORX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Long-Term Real Return Fund (PRAIX) and PIMCO International Bond Fund (U.S. Dollar-Hedged) (PFORX). 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.
| PRAIX | PFORX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.56 | ||
| Sortino ratioReturn per unit of downside risk | -0.76 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.07 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.23 | 0.33 | -0.56 |
| Martin ratioReturn relative to average drawdown | -0.52 | 0.91 | -1.43 |
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Drawdowns
PRAIX vs. PFORX - Drawdown Comparison
The maximum PRAIX drawdown since its inception was -43.52%, which is greater than PFORX's maximum drawdown of -13.87%. Use the drawdown chart below to compare losses from any high point for PRAIX and PFORX.
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Drawdown Indicators
| PRAIX | PFORX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.52% | -13.87% | -29.65% |
Max Drawdown (1Y)Largest decline over 1 year | -8.70% | -3.99% | -4.71% |
Max Drawdown (3Y)Largest decline over 3 years | -13.03% | -3.99% | -9.04% |
Max Drawdown (5Y)Largest decline over 5 years | -43.52% | -13.71% | -29.81% |
Max Drawdown (10Y)Largest decline over 10 years | -43.52% | -13.87% | -29.65% |
Current DrawdownCurrent decline from peak | -37.43% | -2.16% | -35.27% |
Average DrawdownAverage peak-to-trough decline | -10.42% | -1.95% | -8.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.90% | 1.43% | +2.47% |
Volatility
PRAIX vs. PFORX - Volatility Comparison
PIMCO Long-Term Real Return Fund (PRAIX) has a higher volatility of 2.09% compared to PIMCO International Bond Fund (U.S. Dollar-Hedged) (PFORX) at 1.01%. This indicates that PRAIX's price experiences larger fluctuations and is considered to be riskier than PFORX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRAIX | PFORX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.09% | 1.01% | +1.08% |
Volatility (6M)Calculated over the trailing 6-month period | 7.00% | 3.48% | +3.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.24% | 3.88% | +5.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.27% | 3.65% | +12.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.95% | 3.16% | +11.79% |
PRAIX vs. PFORX - Expense Ratio Comparison
Both PRAIX and PFORX have an expense ratio of 0.50%.
Dividends
PRAIX vs. PFORX - Dividend Comparison
PRAIX's dividend yield for the trailing twelve months is around 6.57%, more than PFORX's 3.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PFORX PIMCO International Bond Fund (U.S. Dollar-Hedged) | 3.72% | 4.23% | 4.91% | 3.02% | 3.65% | 1.55% | 2.46% | 6.86% | 2.90% | 1.46% | 1.38% | 9.12% |
PRAIX PIMCO Long-Term Real Return Fund | 6.57% | 5.72% | 4.64% | 4.75% | 12.40% | 15.85% | 37.88% | 7.20% | 3.06% | 2.76% | 1.54% | 2.05% |
Frequently Asked Questions
PRAIX and PFORX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRAIX has higher volatility (2.09%) compared to PFORX (1.01%). In terms of maximum drawdown, PRAIX dropped -43.52% vs PFORX's -13.87%.
PFORX currently has the higher Sharpe Ratio (0.34 vs -0.22), 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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