PYLD vs. CGCB

Last updated Jun 4, 2026

PYLD (PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund) and CGCB (Capital Group Core Bond ETF) are both exchange-traded funds - PYLD is a Multisector Bonds fund actively managed by PIMCO, while CGCB is a Intermediate Core Bond fund actively managed by Capital Group. Both are actively managed. Over the past year, PYLD returned 7.40% vs 5.06% for CGCB. Their correlation of 0.84 suggests significant overlap in exposure. PYLD charges 0.55%/yr vs 0.27%/yr for CGCB.

Performance

PYLD vs. CGCB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD) and Capital Group Core Bond ETF (CGCB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PYLD achieves a 0.95% return, which is significantly higher than CGCB's 0.05% return.

PYLD

• 1D: -0.23%
• 1M: 0.53%
• YTD: 0.95%
• 6M: 1.31%
• 1Y: 7.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CGCB

• 1D: -0.19%
• 1M: 0.18%
• YTD: 0.05%
• 6M: 0.01%
• 1Y: 5.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PYLD vs. CGCB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PYLD PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund	0.95%	9.57%	7.69%	7.01%
CGCB Capital Group Core Bond ETF	0.05%	7.29%	1.44%	6.80%

Correlation

The correlation between PYLD and CGCB is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (All Time) Calculated using the full available price history since Sep 29, 2023	0.84

The correlation between PYLD and CGCB has been stable across timeframes, ranging from 0.83 to 0.84 - a consistent structural relationship.

Return for Risk

PYLD vs. CGCB — Risk / Return Rank

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

PYLD

PYLD Risk / Return Rank: 66
PYLD Sharpe Ratio Rank: 72
PYLD Sortino Ratio Rank: 78
PYLD Omega Ratio Rank: 79
PYLD Calmar Ratio Rank: 45
PYLD Martin Ratio Rank: 58

CGCB

CGCB Risk / Return Rank: 35
CGCB Sharpe Ratio Rank: 36
CGCB Sortino Ratio Rank: 37
CGCB Omega Ratio Rank: 33
CGCB Calmar Ratio Rank: 35
CGCB Martin Ratio Rank: 34

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.

PYLD vs. CGCB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD) and Capital Group Core Bond ETF (CGCB). 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.

	PYLD	CGCB	Difference
Sharpe ratio: Return per unit of total volatility	2.42	1.29	+1.13
Sortino ratio: Return per unit of downside risk	3.56	1.92	+1.64
Omega ratio: Gain probability vs. loss probability	1.48	1.22	+0.25
Calmar ratio: Return relative to maximum drawdown	2.29	1.71	+0.58
Martin ratio: Return relative to average drawdown	10.44	5.16	+5.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PYLD vs. CGCB - Sharpe Ratio Comparison

The current PYLD Sharpe Ratio is 2.42, which is higher than the CGCB Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of PYLD and CGCB, 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

	PYLD	CGCB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.42	1.29	+1.13
Sharpe Ratio (All Time) Calculated using the full available price history	2.04	1.08	+0.96

Drawdowns

PYLD vs. CGCB - Drawdown Comparison

The maximum PYLD drawdown since its inception was -4.52%, smaller than the maximum CGCB drawdown of -5.17%. Use the drawdown chart below to compare losses from any high point for PYLD and CGCB.

Drawdown Indicators

	PYLD	CGCB	Difference
Max Drawdown Largest peak-to-trough decline	-4.52%	-5.17%	+0.65%
Max Drawdown (1Y) Largest decline over 1 year	-3.25%	-2.98%	-0.27%
Current Drawdown Current decline from peak	-0.44%	-1.83%	+1.39%
Average Drawdown Average peak-to-trough decline	-0.65%	-1.34%	+0.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.71%	0.98%	-0.27%

Volatility

PYLD vs. CGCB - Volatility Comparison

The current volatility for PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD) is 1.24%, while Capital Group Core Bond ETF (CGCB) has a volatility of 1.32%. This indicates that PYLD experiences smaller price fluctuations and is considered to be less risky than CGCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PYLD	CGCB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.24%	1.32%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	2.50%	2.80%	-0.30%
Volatility (1Y) Calculated over the trailing 1-year period	3.08%	3.94%	-0.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.99%	5.39%	-1.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.99%	5.39%	-1.40%

PYLD vs. CGCB - Expense Ratio Comparison

PYLD has a 0.55% expense ratio, which is higher than CGCB's 0.27% expense ratio.

Dividends

PYLD vs. CGCB - Dividend Comparison

PYLD's dividend yield for the trailing twelve months is around 6.30%, more than CGCB's 4.22% yield.

Position	TTM	2025	2024	2023
CGCB Capital Group Core Bond ETF	4.22%	4.22%	3.99%	0.95%
PYLD PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund	6.30%	6.21%	6.40%	2.72%

Frequently Asked Questions

Can I hold both PYLD and CGCB in my portfolio?

PYLD and CGCB have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PYLD or CGCB?

CGCB has higher volatility (1.32%) compared to PYLD (1.24%). In terms of maximum drawdown, PYLD dropped -4.52% vs CGCB's -5.17%.

Which ETF is better, PYLD or CGCB?

On 1-year performance, PYLD leads with 7.40% vs 5.06% for CGCB. On fees, CGCB is cheaper at 0.27% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PYLD or CGCB?

Over the 1-year period, PYLD has performed better with a 7.40% return vs 5.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PYLD or CGCB?

CGCB is cheaper with a 0.27% expense ratio, compared with 0.55% for PYLD.

Which ETF pays a higher dividend yield, PYLD or CGCB?

PYLD has the higher dividend yield at 6.30%, compared with 4.22% for CGCB.

What is the main difference between PYLD and CGCB?

PYLD is categorized as Multisector Bonds, while CGCB is Intermediate Core Bond. They also come from different issuers: PIMCO and Capital Group. Their fees differ too: 0.55% for PYLD and 0.27% for CGCB.

Which has better risk-adjusted returns?

PYLD currently has the higher Sharpe Ratio (2.42 vs 1.29), 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.