The iShares Core MSCI Total International Stock ETF (IXUS) and the PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (MINT) are both among the Top 100 ETFs. IXUS is a iShares Foreign Large Blend fund and MINT is a PIMCO Ultrashort Bond fund. So, what’s the difference between IXUS and MINT? And which fund is better?
The expense ratio of IXUS is 0.27 percentage points lower than MINT’s (0.09% vs. 0.36%). IXUS also has a high exposure to the financial services sector while MINT is mostly comprised of Others bonds. Overall, IXUS has provided higher returns than MINT over the past ten years.
In this article, we’ll compare IXUS vs. MINT. We’ll look at annual returns and industry exposure, as well as at their portfolio growth and fund composition. Moreover, I’ll also discuss IXUS’s and MINT’s performance, holdings, and risk metrics and examine how these affect their overall returns.
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Summary
| IXUS | MINT | |
| Name | iShares Core MSCI Total International Stock ETF | PIMCO Enhanced Short Maturity Active Exchange-Traded Fund |
| Category | Foreign Large Blend | Ultrashort Bond |
| Issuer | iShares | PIMCO |
| AUM | 29.54B | 14.02B |
| Avg. Return | 6.09% | 1.52% |
| Div. Yield | 2.13% | 0.56% |
| Expense Ratio | 0.09% | 0.36% |
The iShares Core MSCI Total International Stock ETF (IXUS) is a Foreign Large Blend fund that is issued by iShares. It currently has 29.54B total assets under management and has yielded an average annual return of 6.09% over the past 10 years. The fund has a dividend yield of 2.13% with an expense ratio of 0.09%.
The PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (MINT) is a Ultrashort Bond fund that is issued by PIMCO. It currently has 14.02B total assets under management and has yielded an average annual return of 1.52% over the past 10 years. The fund has a dividend yield of 0.56% with an expense ratio of 0.36%.
IXUS’s dividend yield is 1.57% higher than that of MINT (2.13% vs. 0.56%). Also, IXUS yielded on average 4.56% more per year over the past decade (6.09% vs. 1.52%). The expense ratio of IXUS is 0.27 percentage points lower than MINT’s (0.09% vs. 0.36%).
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Fund Composition
Holdings
| IXUS Holdings | Weight |
| Taiwan Semiconductor Manufacturing Co Ltd | 1.64% |
| Tencent Holdings Ltd | 1.35% |
| Alibaba Group Holding Ltd Ordinary Shares | 1.34% |
| Nestle SA | 1.1% |
| Samsung Electronics Co Ltd | 1.06% |
| ASML Holding NV | 0.9% |
| Roche Holding AG | 0.81% |
| LVMH Moet Hennessy Louis Vuitton SE | 0.67% |
| Novartis AG | 0.62% |
| Toyota Motor Corp | 0.59% |
IXUS’s Top Holdings are Taiwan Semiconductor Manufacturing Co Ltd, Tencent Holdings Ltd, Alibaba Group Holding Ltd Ordinary Shares, Nestle SA, and Samsung Electronics Co Ltd at 1.64%, 1.35%, 1.34%, 1.1%, and 1.06%.
ASML Holding NV (0.9%), Roche Holding AG (0.81%), and LVMH Moet Hennessy Louis Vuitton SE (0.67%) have a slightly smaller but still significant weight. Novartis AG and Toyota Motor Corp are also represented in the IXUS’s holdings at 0.62% and 0.59%.
| MINT Bond Sectors | Weight |
| Others | 0.0% |
| Below B | 0.0% |
| B | 0.0% |
| BB | 0.0% |
| BBB | 0.0% |
| A | 0.0% |
| AA | 0.0% |
| AAA | 0.0% |
| US Government | 0.0% |
MINT’s Top Bond Sectors are ratings of Others, Below B, B, BB, and BBB at 0.0%, 0.0%, 0.0%, 0.0%, and 0.0%. The fund is less weighted towards A (0.0%), AA (0.0%), and AAA (0.0%) rated bonds.
Risk Analysis
| IXUS | MINT | |
| Mean Return | 0 | 0.12 |
| R-squared | 0 | 4.7 |
| Std. Deviation | 0 | 1.08 |
| Alpha | 0 | 0.62 |
| Beta | 0 | 0.08 |
| Sharpe Ratio | 0 | 0.78 |
| Treynor Ratio | 0 | 10.8 |
The iShares Core MSCI Total International Stock ETF (IXUS) has a Sharpe Ratio of 0 with a Beta of 0 and a Standard Deviation of 0. Its Treynor Ratio is 0 while IXUS’s Mean Return is 0. Furthermore, the fund has a Alpha of 0 and a R-squared of 0.
The PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (MINT) has a Mean Return of 0.12 with a Treynor Ratio of 10.8 and a Alpha of 0.62. Its Sharpe Ratio is 0.78 while MINT’s Beta is 0.08. Furthermore, the fund has a R-squared of 4.7 and a Standard Deviation of 1.08.
IXUS’s Mean Return is 0.12 points lower than that of MINT and its R-squared is 4.70 points lower. With a Standard Deviation of 0, IXUS is slightly less volatile than MINT. The Alpha and Beta of IXUS are 0.62 points lower and 0.08 points lower than MINT’s Alpha and Beta.
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Performance
Annual Returns
| Year | IXUS | MINT |
| 2020 | 11.14% | 1.63% |
| 2019 | 21.85% | 3.3% |
| 2018 | -14.55% | 1.72% |
| 2017 | 28.08% | 1.9% |
| 2016 | 4.66% | 1.99% |
| 2015 | -4.62% | 0.52% |
| 2014 | -3.96% | 0.53% |
| 2013 | 15.85% | 0.72% |
| 2012 | 0.0% | 2.48% |
| 2011 | 0.0% | 0.42% |
| 2010 | 0.0% | 1.72% |
IXUS had its best year in 2017 with an annual return of 28.08%. IXUS’s worst year over the past decade yielded -14.55% and occurred in 2018. In most years the iShares Core MSCI Total International Stock ETF provided moderate returns such as in 2011, 2010, and 2016 where annual returns amounted to 0.0%, 0.0%, and 4.66% respectively.
The year 2019 was the strongest year for MINT, returning 3.3% on an annual basis. The poorest year for MINT in the last ten years was 2011, with a yield of 0.42%. Most years the PIMCO Enhanced Short Maturity Active Exchange-Traded Fund has given investors modest returns, such as in 2020, 2018, and 2010, when gains were 1.63%, 1.72%, and 1.72% respectively.
Portfolio Growth
| Fund | Initial Balance | Final Balance | CAGR |
| IXUS | $10,000 | $14,209 | 6.09% |
| MINT | $10,000 | $11,215 | 1.52% |
A $10,000 investment in IXUS would have resulted in a final balance of $14,209. This is a profit of $4,209 over 7 years and amounts to a compound annual growth rate (CAGR) of 6.09%.
With a $10,000 investment in MINT, the end total would have been $11,215. This equates to a $1,215 profit over 7 years and a compound annual growth rate (CAGR) of 1.52%.
IXUS’s CAGR is 4.56 percentage points higher than that of MINT and as a result, would have yielded $2,994 more on a $10,000 investment. Thus, IXUS outperformed MINT by 4.56% annually.
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