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Pioneer High Income Municipal Fund (HIMYX) Sharpe Ratio: 0.51

Mutual Fund · Currency in USD · Last updated Jun 23, 2026

The fund invests at least 80% of its net assets in debt securities and other obligations issued by or on behalf of states, counties, municipalities, territories and possessions of the United States and the District of Columbia and their authorities, political subdivisions, agencies and instrumentalities, the interest on which is exempt from regular federal income tax ("municipal securities"). It may invest in municipal securities of any maturity.

HIMYX's Sharpe Ratio of 0.51 indicates that for each unit of volatility, it generates 0.51 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Jun 23, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets. For how to read this number and when it can mislead, see Sharpe Ratio Explained.

HIMYX Sharpe Ratio Rank

HIMYX Sharpe Ratio Rank: 6.77
Concerning

HIMYX ranks above 6.7% of all investments in our database based on Sharpe Ratio over the past 12 months, indicating weak returns relative to total risk taken. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

  • Strong returns with low total volatility → Higher rank
  • High volatility (both upside and downside) → Lower rank
  • Consistent returns → Higher rank than volatile returns of same magnitude
  • Sharp drawdowns increase volatility → Lower rank

What you can do with this information

  • Weak risk-adjusted returns relative to category peers
  • Evaluate whether this holding aligns with your risk-return objectives
  • Consider reducing exposure or re-evaluating position size
  • Review higher-ranked alternatives in the same category

HIMYX Sharpe Ratio Market Positioning

The chart shows HIMYX's Sharpe Ratio relative to all mutual funds on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

  • Red zone (bottom 25%): 1.33 or lower
  • Yellow zone (middle 50%): 1.33 to 2.32
  • Green zone (top 25%): 2.32 or higher
  • Top 1%: 4.32+
  • Median: 1.93 — half of all investments score higher

How it compares to other similar mutual funds

The table compares Pioneer High Income Municipal Fund's Sharpe Ratio with other mutual funds in the High Yield Muni category across multiple time periods, showing how HIMYX's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Jun 23, 2026.

SymbolName1Y Sharpe Ratio5Y Sharpe Ratio10Y Sharpe RatioAll Time Sharpe Ratio
PRFHXT. Rowe Price Tax Free High Yield Fund3.40
ISHYXInvesco Short Duration High Yield Municipal Fund3.00
FHTFXFederated Hermes Municipal High Yield Advtg Fd2.96
SDHIXLord Abbett Short Duration High Income Municipal Bond Fund2.79
HIMFXAmerican High-Income Municipal Bond Fund Class F-32.77
AHMFXAmerican High-Income Municipal Bond Fund Class F-22.74
AMHIXAmerican High-Income Municipal Bond Fund2.68
EWHYXEaton Vance High Yield Municipal Income Fund Class W2.67
VWALXVanguard High-Yield Tax-Exempt Fund Admiral Shares2.65
VWAHXVanguard High-Yield Tax-Exempt Fund Investor Shares2.63
HIMYXPioneer High Income Municipal Fund0.51

S&P 500 Index

How to choose period

Historical Sharpe Ratio

The chart shows HIMYX's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when HIMYX consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

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Sharpe Ratio Calculator

How does HIMYX fit in your portfolio?

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