TOBAX vs. BOND

Last updated Jun 4, 2026

TOBAX (Touchstone Active Bond Fund) and BOND (PIMCO Active Bond ETF) are both Intermediate Core-Plus Bond funds. Over the past 10 years, TOBAX returned 2.06%/yr vs 2.16%/yr for BOND. Their correlation of 0.80 suggests significant overlap in exposure. TOBAX charges 0.83%/yr vs 0.54%/yr for BOND.

Performance

TOBAX vs. BOND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Touchstone Active Bond Fund (TOBAX) and PIMCO Active Bond ETF (BOND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TOBAX achieves a 0.23% return, which is significantly lower than BOND's 0.48% return. Both investments have delivered pretty close results over the past 10 years, with TOBAX having a 2.06% annualized return and BOND not far ahead at 2.16%.

TOBAX

• 1D: -0.11%
• 1M: 0.46%
• YTD: 0.23%
• 6M: 0.36%
• 1Y: 5.62%
• 3Y*: 4.64%
• 5Y*: 0.25%
• 10Y*: 2.06%

BOND

• 1D: -0.24%
• 1M: 0.30%
• YTD: 0.48%
• 6M: 0.46%
• 1Y: 6.71%
• 3Y*: 4.99%
• 5Y*: 0.51%
• 10Y*: 2.16%

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

TOBAX vs. BOND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TOBAX Touchstone Active Bond Fund	0.23%	7.66%	2.22%	6.38%	-14.20%	-1.34%	9.93%	10.11%	-1.94%	3.51%
BOND PIMCO Active Bond ETF	0.48%	8.39%	2.77%	6.48%	-14.57%	-0.77%	7.80%	8.54%	0.08%	4.76%

Correlation

The correlation between TOBAX and BOND is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Mar 2, 2012	0.80

The correlation between TOBAX and BOND shifts across timeframes, from 0.80 (all time) to 0.92 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

TOBAX vs. BOND — Risk / Return Rank

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

TOBAX

TOBAX Risk / Return Rank: 29
TOBAX Sharpe Ratio Rank: 29
TOBAX Sortino Ratio Rank: 31
TOBAX Omega Ratio Rank: 29
TOBAX Calmar Ratio Rank: 30
TOBAX Martin Ratio Rank: 25

BOND

BOND Risk / Return Rank: 47
BOND Sharpe Ratio Rank: 48
BOND Sortino Ratio Rank: 50
BOND Omega Ratio Rank: 47
BOND Calmar Ratio Rank: 44
BOND Martin Ratio Rank: 43

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.

TOBAX vs. BOND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Touchstone Active Bond Fund (TOBAX) and PIMCO Active Bond ETF (BOND). 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.

	TOBAX	BOND	Difference
Sharpe ratio Return per unit of total volatility	1.55	1.70	-0.15
Sortino ratio Return per unit of downside risk	2.32	2.50	-0.18
Omega ratio Gain probability vs. loss probability	1.28	1.31	-0.02
Calmar ratio Return relative to maximum drawdown	2.04	2.23	-0.20
Martin ratio Return relative to average drawdown	6.18	7.13	-0.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TOBAX vs. BOND - Sharpe Ratio Comparison

The current TOBAX Sharpe Ratio is 1.55, which is comparable to the BOND Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of TOBAX and BOND, 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

	TOBAX	BOND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.55	1.70	-0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	0.09	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	0.43	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	0.63	+0.26

Drawdowns

TOBAX vs. BOND - Drawdown Comparison

The maximum TOBAX drawdown since its inception was -19.73%, roughly equal to the maximum BOND drawdown of -19.71%. Use the drawdown chart below to compare losses from any high point for TOBAX and BOND.

Drawdown Indicators

	TOBAX	BOND	Difference
Max Drawdown Largest peak-to-trough decline	-19.73%	-19.71%	-0.02%
Max Drawdown (1Y) Largest decline over 1 year	-2.88%	-3.01%	+0.13%
Max Drawdown (3Y) Largest decline over 3 years	-6.12%	-6.12%	0.00%
Max Drawdown (5Y) Largest decline over 5 years	-19.73%	-19.71%	-0.02%
Max Drawdown (10Y) Largest decline over 10 years	-19.73%	-19.71%	-0.02%
Current Drawdown Current decline from peak	-1.47%	-1.57%	+0.10%
Average Drawdown Average peak-to-trough decline	-2.43%	-3.50%	+1.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	0.94%	+0.01%

Volatility

TOBAX vs. BOND - Volatility Comparison

Touchstone Active Bond Fund (TOBAX) and PIMCO Active Bond ETF (BOND) have volatilities of 1.39% and 1.40%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TOBAX	BOND	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.39%	1.40%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	2.74%	2.88%	-0.14%
Volatility (1Y) Calculated over the trailing 1-year period	3.81%	3.97%	-0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.80%	5.76%	+0.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.81%	5.09%	-0.28%

TOBAX vs. BOND - Expense Ratio Comparison

TOBAX has a 0.83% expense ratio, which is higher than BOND's 0.54% expense ratio.

Dividends

TOBAX vs. BOND - Dividend Comparison

TOBAX's dividend yield for the trailing twelve months is around 4.02%, less than BOND's 5.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BOND PIMCO Active Bond ETF	5.19%	5.11%	5.02%	4.06%	3.44%	2.58%	2.66%	3.38%	3.18%	2.87%	2.85%	4.14%
TOBAX Touchstone Active Bond Fund	4.02%	3.52%	3.72%	3.63%	3.10%	2.24%	2.58%	2.59%	2.79%	2.29%	2.65%	2.99%

Frequently Asked Questions

Can I hold both TOBAX and BOND in my portfolio?

With a correlation of 0.91, TOBAX and BOND move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, TOBAX or BOND?

BOND has higher volatility (1.40%) compared to TOBAX (1.39%). In terms of maximum drawdown, TOBAX dropped -19.73% vs BOND's -19.71%.

Which has better risk-adjusted returns?

BOND currently has the higher Sharpe Ratio (1.70 vs 1.55), 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.