PHMIX Alternatives & Similar Mutual Funds

PIMCO High Yield Municipal Bond Fund (PHMIX) belongs to the High Yield Muni category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with PHMIX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to PHMIX

PHMIX charges 0.55% annually. There are 11 mutual funds in the High Yield Muni category with lower expense ratios, going as low as 0.09%.

Symbol	Name	Expense Ratio	AUM	Inception
VWALX	Vanguard High-Yield Tax-Exempt Fund Admiral Shares	0.09%	17.60B	Nov 2001	PHMIX vs VWALX
BATEX	BlackRock Allocation Target Shares Series E Portfo...	0.11%	—	Aug 2014	PHMIX vs BATEX
VWAHX	Vanguard High-Yield Tax-Exempt Fund Investor Share...	0.17%	17.60B	Dec 1978	PHMIX vs VWAHX
EWHYX	Eaton Vance High Yield Municipal Income Fund Class...	0.18%	—	May 2007	PHMIX vs EWHYX
HIMFX	American High-Income Municipal Bond Fund Class F-3	0.31%	—	Jan 2017	PHMIX vs HIMFX

Best Risk-Adjusted Alternatives to PHMIX

PHMIX has a PortfoliosLab risk / return rank of 82. There are 27 mutual funds in the High Yield Muni category with higher risk-adjusted ranks, going as high as 96.

Symbol	Name	Risk / Return Rank	AUM	Inception
PRFHX	T. Rowe Price Tax Free High Yield Fund	96	—	Feb 1985	PHMIX vs PRFHX
FHTFX	Federated Hermes Municipal High Yield Advtg Fd	95	—	Apr 1987	PHMIX vs FHTFX
ISHYX	Invesco Short Duration High Yield Municipal Fund	95	—	Sep 2015	PHMIX vs ISHYX
SRHMX	Columbia High Yield Municipal Fund	94	—	Mar 1984	PHMIX vs SRHMX
WHYIX	Allspring High Yield Municipal Bond Fund	93	—	Jan 2013	PHMIX vs WHYIX

Top Performing PHMIX Alternatives (YTD)

PHMIX is at 2.82% YTD. There are 26 mutual funds in the High Yield Muni category with higher YTD returns, going as high as 6.50%.

Symbol	Name	YTD Return	AUM	Inception
NMZ	Nuveen Municipal High Income Opportunity Fund	6.50%	—	Nov 2003	PHMIX vs NMZ
EWHYX	Eaton Vance High Yield Municipal Income Fund Class...	3.93%	—	May 2007	PHMIX vs EWHYX
NHMFX	Nuveen High Yield Municipal Bond Fund Class R6	3.83%	—	Jun 2016	PHMIX vs NHMFX
SRHMX	Columbia High Yield Municipal Fund	3.80%	—	Mar 1984	PHMIX vs SRHMX
BATEX	BlackRock Allocation Target Shares Series E Portfo...	3.77%	—	Aug 2014	PHMIX vs BATEX

Lowest Volatility Alternatives to PHMIX

PHMIX has 3.42% 1-year volatility. There are 28 mutual funds in the High Yield Muni category with lower 1-year volatility, going as low as 2.07%.

Symbol	Name	Volatility 1Y	AUM	Inception
SDHIX	Lord Abbett Short Duration High Income Municipal B...	2.07%	—	Jun 2015	PHMIX vs SDHIX
RWMIX	Redwood Managed Municipal Income Fund	2.07%	—	Mar 2017	PHMIX vs RWMIX
NVHIX	Nuveen Short Duration High Yield Municipal Bond Fu...	2.23%	—	Jan 2013	PHMIX vs NVHIX
ISHYX	Invesco Short Duration High Yield Municipal Fund	2.29%	—	Sep 2015	PHMIX vs ISHYX
TMNIX	Counterpoint Tactical Municipal Fund	2.58%	—	Jun 2018	PHMIX vs TMNIX

Lowest Drawdown Alternatives to PHMIX

PHMIX has a 1-year max drawdown of -2.93%. There are 25 mutual funds in the High Yield Muni category with shallower 1-year drawdowns, going as shallow as -1.71%.

Symbol	Name	Max Drawdown 1Y	AUM	Inception
FDUAX	First Eagle Short Duration High Yield Municipal Fu...	-1.71%	—	Feb 2024	PHMIX vs FDUAX
NVHIX	Nuveen Short Duration High Yield Municipal Bond Fu...	-1.79%	—	Jan 2013	PHMIX vs NVHIX
ISHYX	Invesco Short Duration High Yield Municipal Fund	-1.89%	—	Sep 2015	PHMIX vs ISHYX
AHYMX	abrdn Short Duration High Yield Municipal Fund	-1.98%	—	May 2013	PHMIX vs AHYMX
SDHIX	Lord Abbett Short Duration High Income Municipal B...	-2.08%	—	Jun 2015	PHMIX vs SDHIX

Other Mutual Funds from PIMCO

The 10 most viewed PIMCO mutual funds shown here include PIMIX, PTY, PONAX and span 6 categories.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
PIMIX	PIMCO Income Fund Institutional Class	Multisector Bonds	47	0.60%	—	Mar 2007	PHMIX vs PIMIX
PTY	PIMCO Corporate & Income Opportunity Fund	Corporate Bonds	2	-2.08%	—	Dec 2002	PHMIX vs PTY
PONAX	PIMCO Income Fund Class A	Multisector Bonds	42	0.40%	—	Apr 2007	PHMIX vs PONAX
PTTRX	PIMCO Total Return Fund Institutional Class	Intermediate Core-Plus Bond	29	-0.11%	—	May 1987	PHMIX vs PTTRX
PCN	PIMCO Corporate & Income Strategy Fund	Multisector Bonds	6	-2.85%	—	Dec 2001	PHMIX vs PCN
PONPX	PIMCO Income Fund Class I-2	Multisector Bonds	46	0.55%	—	Apr 2008	PHMIX vs PONPX
PSLDX	PIMCO StocksPLUS Long Duration Fund Class I	Diversified Portfolio	34	6.92%	—	Aug 2007	PHMIX vs PSLDX
PFN	PIMCO Income Strategy Fund II	Multisector Bonds	13	1.58%	—	Oct 2004	PHMIX vs PFN
PFORX	PIMCO International Bond Fund (U.S. Dollar-Hedged)	Global Bonds	11	-0.17%	—	Dec 1992	PHMIX vs PFORX
PISIX	PIMCO StocksPLUS International Fund (U.S. Dollar-H...	Foreign Large Cap Equities	42	12.51%	—	Oct 2003	PHMIX vs PISIX

Often Compared With PHMIX

Investors most often compare PHMIX with PFIUX, NHMRX, MTD. These 20 comparison targets span 8 categories, based on PortfoliosLab usage data.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
PFIUX	PIMCO Dynamic Bond Fund	Nontraditional Bonds	72	1.42%	—	Jun 2008	PHMIX vs PFIUX
NHMRX	Nuveen High Yield Municipal Bond Fund	High Yield Muni	82	3.74%	—	Jun 1999	PHMIX vs NHMRX
MTD	Mettler-Toledo International Inc.		54	-5.69%	—	—	PHMIX vs MTD
COLTX	Columbia Tax-Exempt Fund	Municipal Bonds	83	2.56%	—	Nov 1978	PHMIX vs COLTX
SCHJ	Schwab 1-5 Year Corporate Bond ETF	Corporate Bonds	79	0.79%	876.09M	Oct 2019	PHMIX vs SCHJ
FFRHX	Fidelity Floating Rate High Income Fund	Bank Loan	93	2.14%	—	Aug 2000	PHMIX vs FFRHX
AGG	iShares Core U.S. Aggregate Bond ETF	Total Bond Market	35	0.08%	138.36B	Sep 2003	PHMIX vs AGG
VOO	Vanguard S&P 500 ETF	S&P 500	67	10.87%	1.70T	Sep 2010	PHMIX vs VOO
STXAX	Western Asset Municipal High Income Fund	High Yield Muni	81	2.31%	—	Nov 1992	PHMIX vs STXAX
ORNAX	Invesco Rochester Municipal Opportunities Fund	High Yield Muni	69	2.29%	—	Sep 1993	PHMIX vs ORNAX
GWMEX	AMG GW&K Municipal Enhanced Yield Fund	High Yield Muni	73	2.61%	—	Dec 2005	PHMIX vs GWMEX
RTHAX	Russell Investments Tax-Exempt High Yield Bond Fun...	High Yield Muni	82	3.00%	—	May 2015	PHMIX vs RTHAX
STMYX	Sierra Tactical Municipal Fund	High Yield Muni	74	2.20%	—	Dec 2018	PHMIX vs STMYX
JHTFX	John Hancock High Yield Municipal Bond Fund	High Yield Muni	78	3.49%	—	Dec 1993	PHMIX vs JHTFX
ABHYX	American Century High-Yield Municipal Fund	High Yield Muni	81	2.73%	572.53M	Mar 1998	PHMIX vs ABHYX
HIMYX	Pioneer High Income Municipal Fund	High Yield Muni	10	1.44%	—	Oct 2006	PHMIX vs HIMYX
DHMBX	BNY Mellon High Yield Municipal Bond Fund	High Yield Muni	87	3.59%	—	Sep 2005	PHMIX vs DHMBX
FRHIX	Franklin High Yield Tax Free Income Fund	High Yield Muni	87	3.08%	—	Mar 1986	PHMIX vs FRHIX
PMJIX	PIMCO RAE US Small Fund	Small Cap Value Equities	74	19.78%	—	Jun 2015	PHMIX vs PMJIX
AHMFX	American High-Income Municipal Bond Fund Class F-2	High Yield Muni	90	2.73%	—	Aug 2008	PHMIX vs AHMFX

Compare PHMIX with Any Fund or Stock

Compare PHMIX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

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Diversifiers

Pair PHMIX with funds that move differently

PIMCO High Yield Municipal Bond Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to PHMIX.

Explore PHMIX Diversifiers

PIMCO High Yield Municipal Bond Fund (PHMIX) Alternatives