PIMCO RAFI Dynamic Multi-Factor International… (MFDX) Performance
MFDX total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +8.8% since Dec 31, 2025
- 1 year
- +13.3% total return
- 5 years
- +9.9% a year
- Since first price
- +8.5% a year since 2017
MFDX trailing returns vs SPY, QQQ, AGG
| Period | MFDX total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −1.7% | −2.3% | −1.0% | −5.0% | +0.9% |
| 3 months | +0.5% | −0.0% | +3.2% | +1.9% | −0.4% |
| 6 months | +1.1% | −0.5% | +7.8% | +8.4% | −1.5% |
| YTD | +8.8% | +6.5% | +12.3% | +15.1% | −1.0% |
| 1 year | +13.3% | +9.9% | +14.4% | +15.9% | −1.1% |
| 3 years | +73.2%+20.1%/yr | +58.3% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +60.1%+9.9%/yr | +36.5% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionSep 6, 2017 | +110.4%+8.5%/yr | +62.6% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: MFDX vs SPY
From Sep 6, 2017: MFDX grew to $21,045, SPY to $35,503.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
MFDX returns by calendar year
6 of 8 full years positive. Best 2025 (+34.3%), worst 2018 (−14.1%). 2026 is year to date.
MFDX annual returns table
| Year | MFDX | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +8.8% | −10.7% | +12.3% | +15.1% | −1.0% |
| 2025 | +34.3% | −11.6% | +17.7% | +20.8% | +7.2% |
| 2024 | +4.4% | −9.4% | +24.9% | +25.6% | +1.3% |
| 2023 | +17.5% | −10.2% | +26.2% | +54.9% | +5.7% |
| 2022 | −10.3% | −25.6% | −18.2% | −32.6% | −13.0% |
| 2021 | +11.1% | −7.1% | +28.7% | +27.4% | −1.8% |
| 2020 | +6.9% | −34.1% | +18.3% | +48.6% | +7.5% |
| 2019 | +19.9% | −6.5% | +31.2% | +39.0% | +8.5% |
| 2018 | −14.1% | −21.7% | −4.6% | −0.1% | +0.1% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
MFDX largest drawdowns
Now 4.5% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 26, 2018 | −35.5% | Mar 23, 2020 | Nov 27, 2020 | 2.2 years | 2.8 years |
| Jan 12, 2022 | −25.6% | Oct 12, 2022 | Dec 14, 2023 | 9 months | 1.9 years |
| Mar 19, 2025 | −11.6% | Apr 8, 2025 | Apr 24, 2025 | 20 days | 36 days |
| Feb 25, 2026 | −10.7% | Mar 20, 2026 | Aug 4, 2026 | 23 days | 5 months |
| Sep 26, 2024 | −10.1% | Jan 13, 2025 | Mar 5, 2025 | 4 months | 5 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
MFDX risk statistics
| Statistic | 3 years | 5 years | Since 2017 |
|---|---|---|---|
| Annualized return | +18.8% | +10.6% | +8.4% |
| Volatility (annualized) | 11.9% | 14.6% | 14.9% |
| Sharpe ratio | 1.15 | 0.52 | 0.45 |
| Sortino ratio | 1.93 | 0.79 | 0.66 |
| Best month | +7.6% | +11.3% | +12.6% |
| Worst month | −7.2% | −9.4% | −14.8% |
| Best 12 months | +40.2% | +40.2% | +46.5% |
| Worst 12 months | +4.4% | −21.3% | −21.3% |
| Positive months | 72% | 62% | 62% |
| Beta vs S&P 500 | 0.54 | 0.68 | — |
| Correlation with S&P 500 | 0.56 | 0.73 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
MFDX rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 98 | −21.3% | +10.3% | +46.5% | 66% |
| 3-year (a year) | 74 | −1.4% | +7.1% | +22.4% | 97% |
| 5-year (a year) | 50 | −0.4% | +8.3% | +13.2% | 98% |
Every holding period starting at a month-end since 2017. Returns for 3 years and longer are annualized.
MFDX performance overview
PIMCO RAFI Dynamic Multi-Factor International… (MFDX) returned +13.3% over the past year and +9.9% a year over five years, with distributions reinvested. Since its first recorded price in 2017 it has returned +8.5% a year, turning $10,000 into about $21,045. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −35.5%, from Jan 26, 2018 to Mar 23, 2020, and it took 8 months to get back to the old high. MFDX finished 6 of its 8 full calendar years with a gain; the best year was 2025 (+34.3%) and the worst 2018 (−14.1%). Volatility has been 14.9% a year.
Related: MFDX chart, MFDX holdings, MFDX dividends. See the MFDX overview for the latest quote and fund facts.
MFDX performance FAQ
What is the MFDX return over the past year?
MFDX returned +13.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 9.9%.
What is the average annual return of MFDX?
MFDX has returned +9.9% a year over 5 years, +8.5% a year since September 6, 2017 (total return, distributions reinvested).
How much would $10,000 invested in MFDX be worth?
$10,000 invested in MFDX at its first recorded close on September 6, 2017 would be worth about $21,045 on October 23, 2026 with distributions reinvested.
What was the worst year for MFDX?
The worst calendar year was 2018, with a total return of −14.1%. The best was 2025 at +34.3%.
What is the biggest drawdown of MFDX?
The largest peak-to-trough decline was −35.5% between January 26, 2018 and March 23, 2020. It recovered to the old high on November 27, 2020, 8 months after the bottom.
How volatile is MFDX?
Over the past 3 years MFDX had an annualized volatility of 11.9% and a Sharpe ratio of 1.15 (excess return over 1–3 month T-bills per unit of risk).