PIMCO RAFI Dynamic Multi-Factor U.S. Equity (MFUS) Performance
MFUS total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +16.7% since Dec 31, 2025
- 1 year
- +18.3% total return
- 5 years
- +11.9% a year
- Since first price
- +13.1% a year since 2017
MFUS trailing returns vs SPY, QQQ, AGG
| Period | MFUS total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +0.1% | −0.2% | −1.0% | −5.0% | +0.9% |
| 3 months | +0.2% | −0.1% | +3.2% | +1.9% | −0.4% |
| 6 months | +6.7% | +5.9% | +7.8% | +8.4% | −1.5% |
| YTD | +16.7% | +15.4% | +12.3% | +15.1% | −1.0% |
| 1 year | +18.3% | +16.5% | +14.4% | +15.9% | −1.1% |
| 3 years | +84.7%+22.7%/yr | +76.3% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +75.8%+11.9%/yr | +61.0% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionSep 6, 2017 | +208.1%+13.1%/yr | +160.5% | — | — | — |
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: MFUS vs SPY
From Sep 6, 2017: MFUS grew to $30,815, SPY to $35,503.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
MFUS returns by calendar year
6 of 8 full years positive. Best 2019 (+26.2%), worst 2018 (−7.0%). 2026 is year to date.
MFUS annual returns table
| Year | MFUS | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +16.7% | −6.4% | +12.3% | +15.1% | −1.0% |
| 2025 | +16.0% | −15.4% | +17.7% | +20.8% | +7.2% |
| 2024 | +20.2% | −6.9% | +24.9% | +25.6% | +1.3% |
| 2023 | +12.2% | −9.7% | +26.2% | +54.9% | +5.7% |
| 2022 | −5.8% | −18.2% | −18.2% | −32.6% | −13.0% |
| 2021 | +24.1% | −6.4% | +28.7% | +27.4% | −1.8% |
| 2020 | +10.6% | −35.2% | +18.3% | +48.6% | +7.5% |
| 2019 | +26.2% | −5.5% | +31.2% | +39.0% | +8.5% |
| 2018 | −7.0% | −19.6% | −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.
MFUS largest drawdowns
Now 3.0% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 12, 2020 | −35.2% | Mar 23, 2020 | Nov 9, 2020 | 40 days | 9 months |
| Sep 21, 2018 | −19.6% | Dec 24, 2018 | Jul 3, 2019 | 3 months | 9 months |
| Apr 20, 2022 | −18.2% | Sep 30, 2022 | Dec 13, 2023 | 5 months | 1.6 years |
| Feb 19, 2025 | −15.4% | Apr 8, 2025 | Jun 24, 2025 | 48 days | 4 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
MFUS risk statistics
| Statistic | 3 years | 5 years | Since 2017 |
|---|---|---|---|
| Annualized return | +21.1% | +12.9% | +12.9% |
| Volatility (annualized) | 11.9% | 14.8% | 15.6% |
| Sharpe ratio | 1.31 | 0.66 | 0.70 |
| Sortino ratio | 2.34 | 1.06 | 1.07 |
| Best month | +7.7% | +12.6% | +12.6% |
| Worst month | −5.2% | −8.7% | −14.9% |
| Best 12 months | +36.3% | +36.3% | +56.7% |
| Worst 12 months | +8.0% | −9.7% | −14.6% |
| Positive months | 69% | 60% | 65% |
| Beta vs S&P 500 | 0.82 | 0.85 | — |
| Correlation with S&P 500 | 0.86 | 0.90 | — |
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.
MFUS rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 98 | −14.6% | +12.2% | +56.7% | 83% |
| 3-year (a year) | 74 | +5.8% | +12.0% | +23.0% | 100% |
| 5-year (a year) | 50 | +7.2% | +12.7% | +18.3% | 100% |
Every holding period starting at a month-end since 2017. Returns for 3 years and longer are annualized.
MFUS performance overview
PIMCO RAFI Dynamic Multi-Factor U.S. Equity (MFUS) returned +18.3% over the past year and +11.9% a year over five years, with distributions reinvested. Since its first recorded price in 2017 it has returned +13.1% a year, turning $10,000 into about $30,815. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −35.2%, from Feb 12, 2020 to Mar 23, 2020, and it took 8 months to get back to the old high. MFUS finished 6 of its 8 full calendar years with a gain; the best year was 2019 (+26.2%) and the worst 2018 (−7.0%). Volatility has been 15.6% a year.
Related: MFUS chart, MFUS holdings, MFUS dividends, MFUS valuation. See the MFUS overview for the latest quote and fund facts.
MFUS performance FAQ
What is the MFUS return over the past year?
MFUS returned +18.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 16.5%.
What is the average annual return of MFUS?
MFUS has returned +11.9% a year over 5 years, +13.1% a year since September 6, 2017 (total return, distributions reinvested).
How much would $10,000 invested in MFUS be worth?
$10,000 invested in MFUS at its first recorded close on September 6, 2017 would be worth about $30,815 on October 23, 2026 with distributions reinvested.
What was the worst year for MFUS?
The worst calendar year was 2018, with a total return of −7.0%. The best was 2019 at +26.2%.
What is the biggest drawdown of MFUS?
The largest peak-to-trough decline was −35.2% between February 12, 2020 and March 23, 2020. It recovered to the old high on November 9, 2020, 8 months after the bottom.
How volatile is MFUS?
Over the past 3 years MFUS had an annualized volatility of 11.9% and a Sharpe ratio of 1.31 (excess return over 1–3 month T-bills per unit of risk).