PYLD vs. LTPZ
PYLD (PIMCO Multisector Bond Active Exchange-Traded Fund) and LTPZ (PIMCO 15+ Year US TIPS Index ETF) are both exchange-traded funds - PYLD is a Multisector Bonds fund actively managed by PIMCO, while LTPZ is a Inflation-Protected Bonds fund tracking the ICE BofA US Inflation-Linked Treasury (15+ Y). PYLD is actively managed, while LTPZ is passively managed. Over the past 3 years, PYLD returned 8.13%/yr vs -1.20%/yr for LTPZ. A 0.77 correlation means they provide meaningful diversification when combined. PYLD charges 0.55%/yr vs 0.20%/yr for LTPZ.
Performance
PYLD vs. LTPZ - Performance Comparison
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Returns By Period
In the year-to-date period, PYLD achieves a 1.60% return, which is significantly higher than LTPZ's 1.21% return.
PYLD
- 1D
- 0.19%
- 1M
- 1.12%
- YTD
- 1.60%
- 6M
- 1.48%
- 1Y
- 6.75%
- 3Y*
- 8.13%
- 5Y*
- —
- 10Y*
- —
LTPZ
- 1D
- 1.27%
- 1M
- 2.04%
- YTD
- 1.21%
- 6M
- 0.51%
- 1Y
- 3.60%
- 3Y*
- -1.20%
- 5Y*
- -5.38%
- 10Y*
- 0.74%
PYLD vs. LTPZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PYLD PIMCO Multisector Bond Active Exchange-Traded Fund | 1.60% | 9.57% | 7.69% | 5.46% |
LTPZ PIMCO 15+ Year US TIPS Index ETF | 1.21% | 4.00% | -4.80% | -4.00% |
Correlation
The correlation between PYLD and LTPZ is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2023 | 0.77 |
The correlation between PYLD and LTPZ has been stable across timeframes, ranging from 0.74 to 0.77 - a consistent structural relationship.
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Return for Risk
PYLD vs. LTPZ — Risk / Return Rank
PYLD
LTPZ
PYLD vs. LTPZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD) and PIMCO 15+ Year US TIPS Index ETF (LTPZ). 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.
| PYLD | LTPZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.81 | ||
| Sortino ratioReturn per unit of downside risk | +2.60 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.07 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 2.09 | 0.52 | +1.57 |
| Martin ratioReturn relative to average drawdown | 9.45 | 1.08 | +8.37 |
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Drawdowns
PYLD vs. LTPZ - Drawdown Comparison
The maximum PYLD drawdown since its inception was -4.52%, smaller than the maximum LTPZ drawdown of -40.99%. Use the drawdown chart below to compare losses from any high point for PYLD and LTPZ.
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Drawdown Indicators
| PYLD | LTPZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.52% | -40.99% | +36.47% |
Max Drawdown (1Y)Largest decline over 1 year | -3.25% | -7.00% | +3.75% |
Max Drawdown (3Y)Largest decline over 3 years | -4.52% | -15.98% | +11.46% |
Max Drawdown (5Y)Largest decline over 5 years | — | -40.99% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.99% | — |
Current DrawdownCurrent decline from peak | -0.11% | -32.21% | +32.10% |
Average DrawdownAverage peak-to-trough decline | -0.64% | -12.47% | +11.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.72% | 3.35% | -2.63% |
Volatility
PYLD vs. LTPZ - Volatility Comparison
The current volatility for PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD) is 1.07%, while PIMCO 15+ Year US TIPS Index ETF (LTPZ) has a volatility of 2.72%. This indicates that PYLD experiences smaller price fluctuations and is considered to be less risky than LTPZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PYLD | LTPZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.07% | 2.72% | -1.65% |
Volatility (6M)Calculated over the trailing 6-month period | 2.62% | 6.71% | -4.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.08% | 9.21% | -6.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.99% | 15.87% | -11.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.99% | 15.07% | -11.08% |
PYLD vs. LTPZ - Expense Ratio Comparison
PYLD has a 0.55% expense ratio, which is higher than LTPZ's 0.20% expense ratio.
Dividends
PYLD vs. LTPZ - Dividend Comparison
PYLD's dividend yield for the trailing twelve months is around 6.25%, more than LTPZ's 5.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LTPZ PIMCO 15+ Year US TIPS Index ETF | 5.18% | 4.64% | 3.71% | 3.71% | 8.38% | 3.56% | 1.42% | 1.74% | 3.05% | 2.25% | 2.32% | 0.71% |
PYLD PIMCO Multisector Bond Active Exchange-Traded Fund | 6.25% | 6.21% | 6.40% | 2.72% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PYLD and LTPZ have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LTPZ has higher volatility (2.72%) compared to PYLD (1.07%). In terms of maximum drawdown, PYLD dropped -4.52% vs LTPZ's -40.99%.
On 3-year performance, PYLD leads with 8.13% vs -1.20% for LTPZ. On fees, LTPZ is cheaper at 0.20% per year. On volatility, PYLD has been the lower-risk option at 1.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PYLD has performed better with a 8.13% return vs -1.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LTPZ is cheaper with a 0.20% expense ratio, compared with 0.55% for PYLD.
PYLD has the higher dividend yield at 6.25%, compared with 5.18% for LTPZ.
PYLD is categorized as Multisector Bonds, while LTPZ is Inflation-Protected Bonds. Their fees differ too: 0.55% for PYLD and 0.20% for LTPZ.
PYLD currently has the higher Sharpe Ratio (2.21 vs 0.39), 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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