STPZ vs. MFUS

Last updated Jun 4, 2026

STPZ (PIMCO 1-5 Year US TIPS Index ETF) and MFUS (PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF) are both exchange-traded funds - STPZ is a Inflation-Protected Bonds fund tracking the ICE BofA US Inflation-Linked Treasury (1-5 Y), while MFUS is a Large Cap Growth Equities fund tracking the RAFI Dynamic Multi-Factor U.S. Index​. Both are passively managed. Over the past 5 years, STPZ returned 2.90%/yr vs 12.82%/yr for MFUS. At a 0.11 correlation, their price movements are largely independent. STPZ charges 0.20%/yr vs 0.30%/yr for MFUS.

Performance

STPZ vs. MFUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO 1-5 Year US TIPS Index ETF (STPZ) and PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, STPZ achieves a 1.79% return, which is significantly lower than MFUS's 16.37% return.

STPZ

• 1D: -0.00%
• 1M: -0.09%
• YTD: 1.79%
• 6M: 1.77%
• 1Y: 4.51%
• 3Y*: 5.03%
• 5Y*: 2.90%
• 10Y*: 2.89%

MFUS

• 1D: 0.03%
• 1M: 5.72%
• YTD: 16.37%
• 6M: 16.58%
• 1Y: 28.04%
• 3Y*: 22.25%
• 5Y*: 12.82%
• 10Y*: —

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

STPZ vs. MFUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
STPZ PIMCO 1-5 Year US TIPS Index ETF	1.79%	6.40%	4.30%	4.28%	-4.49%	5.64%	5.44%	4.83%	0.04%	-0.19%
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF	16.37%	16.02%	20.17%	12.19%	-5.82%	24.10%	10.64%	26.17%	-7.30%	11.20%

Correlation

The correlation between STPZ and MFUS is 0.03, 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	0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (All Time) Calculated using the full available price history since Sep 7, 2017	0.11

The correlation between STPZ and MFUS shifts across timeframes, from 0.03 (1 year) to 0.15 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

STPZ vs. MFUS — Risk / Return Rank

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

STPZ

STPZ Risk / Return Rank: 82
STPZ Sharpe Ratio Rank: 76
STPZ Sortino Ratio Rank: 86
STPZ Omega Ratio Rank: 80
STPZ Calmar Ratio Rank: 86
STPZ Martin Ratio Rank: 81

MFUS

MFUS Risk / Return Rank: 82
MFUS Sharpe Ratio Rank: 80
MFUS Sortino Ratio Rank: 83
MFUS Omega Ratio Rank: 78
MFUS Calmar Ratio Rank: 83
MFUS Martin Ratio Rank: 86

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.

STPZ vs. MFUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO 1-5 Year US TIPS Index ETF (STPZ) and PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS). 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.

	STPZ	MFUS	Difference
Sharpe ratio Return per unit of total volatility	2.49	2.63	-0.15
Sortino ratio Return per unit of downside risk	3.94	3.77	+0.17
Omega ratio Gain probability vs. loss probability	1.49	1.47	+0.01
Calmar ratio Return relative to maximum drawdown	4.87	4.41	+0.46
Martin ratio Return relative to average drawdown	16.28	18.13	-1.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

STPZ vs. MFUS - Sharpe Ratio Comparison

The current STPZ Sharpe Ratio is 2.49, which is comparable to the MFUS Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of STPZ and MFUS, 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

	STPZ	MFUS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.49	2.63	-0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.89	0.86	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.97	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	0.79	+0.11

Drawdowns

STPZ vs. MFUS - Drawdown Comparison

The maximum STPZ drawdown since its inception was -6.77%, smaller than the maximum MFUS drawdown of -35.21%. Use the drawdown chart below to compare losses from any high point for STPZ and MFUS.

Drawdown Indicators

	STPZ	MFUS	Difference
Max Drawdown Largest peak-to-trough decline	-6.77%	-35.21%	+28.44%
Max Drawdown (1Y) Largest decline over 1 year	-0.93%	-6.39%	+5.46%
Max Drawdown (3Y) Largest decline over 3 years	-1.35%	-15.39%	+14.04%
Max Drawdown (5Y) Largest decline over 5 years	-6.70%	-18.22%	+11.52%
Max Drawdown (10Y) Largest decline over 10 years	-6.77%	—	—
Current Drawdown Current decline from peak	-0.11%	0.00%	-0.11%
Average Drawdown Average peak-to-trough decline	-1.31%	-4.00%	+2.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.28%	1.55%	-1.27%

Volatility

STPZ vs. MFUS - Volatility Comparison

The current volatility for PIMCO 1-5 Year US TIPS Index ETF (STPZ) is 0.46%, while PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) has a volatility of 3.19%. This indicates that STPZ experiences smaller price fluctuations and is considered to be less risky than MFUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	STPZ	MFUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.46%	3.19%	-2.73%
Volatility (6M) Calculated over the trailing 6-month period	1.20%	8.22%	-7.02%
Volatility (1Y) Calculated over the trailing 1-year period	1.83%	10.72%	-8.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.29%	15.03%	-11.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.98%	17.35%	-14.37%

STPZ vs. MFUS - Expense Ratio Comparison

STPZ has a 0.20% expense ratio, which is lower than MFUS's 0.30% expense ratio.

Dividends

STPZ vs. MFUS - Dividend Comparison

STPZ's dividend yield for the trailing twelve months is around 4.10%, more than MFUS's 1.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF	1.36%	1.54%	1.45%	1.96%	2.07%	1.35%	1.72%	1.89%	1.69%	1.01%	0.00%	0.00%
STPZ PIMCO 1-5 Year US TIPS Index ETF	4.10%	3.65%	1.97%	1.63%	5.88%	3.65%	1.86%	1.76%	2.23%	1.51%	0.65%	0.49%

Frequently Asked Questions

Can I hold both STPZ and MFUS in my portfolio?

STPZ and MFUS have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, STPZ or MFUS?

MFUS has higher volatility (3.19%) compared to STPZ (0.46%). In terms of maximum drawdown, STPZ dropped -6.77% vs MFUS's -35.21%.

Which ETF is better, STPZ or MFUS?

On 5-year performance, MFUS leads with 12.82% vs 2.90% for STPZ. On fees, STPZ is cheaper at 0.20% per year. On volatility, STPZ has been the lower-risk option at 0.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, STPZ or MFUS?

Over the 5-year period, MFUS has performed better with a 12.82% return vs 2.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, STPZ or MFUS?

STPZ is cheaper with a 0.20% expense ratio, compared with 0.30% for MFUS.

Which ETF pays a higher dividend yield, STPZ or MFUS?

STPZ has the higher dividend yield at 4.10%, compared with 1.36% for MFUS.

What is the main difference between STPZ and MFUS?

STPZ is categorized as Inflation-Protected Bonds, while MFUS is Large Cap Growth Equities. STPZ tracks ICE BofA US Inflation-Linked Treasury (1-5 Y), while MFUS tracks RAFI Dynamic Multi-Factor U.S. Index​. Their fees differ too: 0.20% for STPZ and 0.30% for MFUS.

Which has better risk-adjusted returns?

MFUS currently has the higher Sharpe Ratio (2.63 vs 2.49), 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.