UBIL-U.TO vs. PMNT.TO

Last updated Aug 4, 2026

UBIL-U.TO (Global X 0-3 Month U.S. T-Bill ETF USD) and PMNT.TO (PIMCO Global Short Maturity Fund (Canada)) are both Ultrashort Bond funds. Both are actively managed. Over the past 3 years, UBIL-U.TO returned 4.94%/yr vs 2.06%/yr for PMNT.TO. Their 0.05 correlation means their historical movements had little consistent relationship. UBIL-U.TO charges 0.12%/yr vs 0.39%/yr for PMNT.TO.

Performance

UBIL-U.TO vs. PMNT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X 0-3 Month U.S. T-Bill ETF USD (UBIL-U.TO) and PIMCO Global Short Maturity Fund (Canada) (PMNT.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

UBIL-U.TO is traded in USD, while PMNT.TO is traded in CAD. To make them comparable, the PMNT.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, UBIL-U.TO achieves a 2.03% return, which is significantly higher than PMNT.TO's -0.60% return.

UBIL-U.TO

• 1D: 0.02%
• 1M: 0.27%
• 6M: 1.78%
• YTD: 2.03%
• 1Y: 3.77%
• 3Y*: 4.94%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.07%

PMNT.TO

• 1D: 0.23%
• 1M: 1.43%
• 6M: -1.26%
• YTD: -0.60%
• 1Y: 1.88%
• 3Y*: 2.06%
• 5Y*: 0.57%
• 10Y*: —
• ALL TIME*: 1.64%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PMNT.TO PIMCO Global Short Maturity Fund (Canada)	$55.66K	$35.82K	$39.12K
UBIL-U.TO Global X 0-3 Month U.S. T-Bill ETF USD	$543.86K	$538.05K	$698.23K

UBIL-U.TO vs. PMNT.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
UBIL-U.TO Global X 0-3 Month U.S. T-Bill ETF USD	2.03%	4.21%	5.49%	4.95%
PMNT.TO PIMCO Global Short Maturity Fund (Canada)	-0.60%	8.05%	-2.96%	5.57%

Correlation

The correlation between UBIL-U.TO and PMNT.TO is -0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.02
Correlation (3Y) Balances recent behavior with more history.	0.04
Correlation (All Time) Calculated using the full available price history since Apr 14, 2023	0.05

Return for Risk

UBIL-U.TO vs. PMNT.TO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

UBIL-U.TO

UBIL-U.TO Risk / Return Rank: 100
UBIL-U.TO Sharpe Ratio Rank: 100
UBIL-U.TO Sortino Ratio Rank: 100
UBIL-U.TO Omega Ratio Rank: 100
UBIL-U.TO Calmar Ratio Rank: 100
UBIL-U.TO Martin Ratio Rank: 100

PMNT.TO

PMNT.TO Risk / Return Rank: 83
PMNT.TO Sharpe Ratio Rank: 70
PMNT.TO Sortino Ratio Rank: 73
PMNT.TO Omega Ratio Rank: 90
PMNT.TO Calmar Ratio Rank: 93
PMNT.TO Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

UBIL-U.TO vs. PMNT.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X 0-3 Month U.S. T-Bill ETF USD (UBIL-U.TO) and PIMCO Global Short Maturity Fund (Canada) (PMNT.TO). 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.

	UBIL-U.TO	PMNT.TO	Difference
Sharpe ratio: Return per unit of total volatility	12.59	0.35	+12.24
Sortino ratio: Return per unit of downside risk	36.95	0.57	+36.38
Omega ratio: Gain probability vs. loss probability	9.55	1.06	+8.48
Calmar ratio: Return relative to maximum drawdown	96.05	0.40	+95.65
Martin ratio: Return relative to average drawdown	556.33	0.90	+555.43

UBIL-U.TO vs. PMNT.TO - Sharpe Ratio Comparison

The current UBIL-U.TO Sharpe Ratio is 12.59, which is higher than the PMNT.TO Sharpe Ratio of 0.35. The chart below compares the historical Sharpe Ratios of UBIL-U.TO and PMNT.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

UBIL-U.TO vs. PMNT.TO - Drawdown Comparison

The maximum UBIL-U.TO drawdown since its inception was -0.08%, smaller than the maximum PMNT.TO drawdown of -15.85%. Use the drawdown chart below to compare losses from any high point for UBIL-U.TO and PMNT.TO.

Drawdown Indicators

	UBIL-U.TO	PMNT.TO	Difference
Max Drawdown Largest peak-to-trough decline	-0.08%	-15.85%	+15.77%
Max Drawdown (1Y) Largest decline over 1 year	-0.04%	-4.12%	+4.08%
Max Drawdown (3Y) Largest decline over 3 years	-0.04%	-7.47%	+7.43%
Max Drawdown (5Y) Largest decline over 5 years	—	-12.27%	—
Current Drawdown Current decline from peak	0.00%	-2.38%	+2.38%
Average Drawdown Average peak-to-trough decline	0.00%	-4.46%	+4.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	1.83%	-1.82%

Volatility

UBIL-U.TO vs. PMNT.TO - Volatility Comparison

The current volatility for Global X 0-3 Month U.S. T-Bill ETF USD (UBIL-U.TO) is 0.07%, while PIMCO Global Short Maturity Fund (Canada) (PMNT.TO) has a volatility of 1.04%. This indicates that UBIL-U.TO experiences smaller price fluctuations and is considered to be less risky than PMNT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UBIL-U.TO	PMNT.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.07%	1.04%	-0.97%
Volatility (6M) Calculated over the trailing 6-month period	0.20%	3.16%	-2.96%
Volatility (1Y) Calculated over the trailing 1-year period	0.31%	4.67%	-4.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.45%	6.51%	-6.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.45%	7.06%	-6.61%

UBIL-U.TO vs. PMNT.TO - Expense Ratio Comparison

UBIL-U.TO has a 0.12% expense ratio, which is lower than PMNT.TO's 0.39% expense ratio.

Dividends

UBIL-U.TO vs. PMNT.TO - Dividend Comparison

UBIL-U.TO's dividend yield for the trailing twelve months is around 3.66%, less than PMNT.TO's 4.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
PMNT.TO PIMCO Global Short Maturity Fund (Canada)	4.38%	4.65%	5.48%	4.92%	2.60%	1.17%	2.68%	2.09%
UBIL-U.TO Global X 0-3 Month U.S. T-Bill ETF USD	3.66%	4.15%	5.35%	4.96%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both UBIL-U.TO and PMNT.TO in my portfolio?

UBIL-U.TO and PMNT.TO have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UBIL-U.TO or PMNT.TO?

On fees, UBIL-U.TO is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UBIL-U.TO or PMNT.TO?

UBIL-U.TO is cheaper with a 0.12% expense ratio, compared with 0.39% for PMNT.TO.

What is the main difference between UBIL-U.TO and PMNT.TO?

They also come from different issuers: Global X and PIMCO. Their fees differ too: 0.12% for UBIL-U.TO and 0.39% for PMNT.TO.