BFFAX vs. PIMIX

Last updated Jun 3, 2026

BFFAX (American Funds The Bond Fund of America Class F-3) and PIMIX (PIMCO Income Fund Institutional Class) are both mutual funds - BFFAX is a Intermediate Core Bond fund managed by American Funds, while PIMIX is a Total Bond Market fund managed by PIMCO. Over the past 5 years, BFFAX returned 0.05%/yr vs 3.45%/yr for PIMIX. A 0.71 correlation means they provide meaningful diversification when combined. BFFAX charges 0.20%/yr vs 0.62%/yr for PIMIX.

Performance

BFFAX vs. PIMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds The Bond Fund of America Class F-3 (BFFAX) and PIMCO Income Fund Institutional Class (PIMIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BFFAX achieves a 0.24% return, which is significantly lower than PIMIX's 0.81% return.

BFFAX

• 1D: -0.09%
• 1M: 0.11%
• YTD: 0.24%
• 6M: 0.36%
• 1Y: 5.40%
• 3Y*: 4.04%
• 5Y*: 0.05%
• 10Y*: —

PIMIX

• 1D: -0.18%
• 1M: 0.35%
• YTD: 0.81%
• 6M: 1.41%
• 1Y: 8.19%
• 3Y*: 7.80%
• 5Y*: 3.45%
• 10Y*: 4.69%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BFFAX vs. PIMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BFFAX American Funds The Bond Fund of America Class F-3	0.24%	7.54%	1.54%	4.39%	-13.00%	-0.97%	11.12%	8.17%	0.22%	3.07%
PIMIX PIMCO Income Fund Institutional Class	0.81%	11.08%	5.45%	9.36%	-9.07%	2.62%	5.84%	8.10%	0.63%	7.68%

Correlation

The correlation between BFFAX and PIMIX is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since Feb 2, 2017	0.71

Over the past year, BFFAX and PIMIX have become more correlated (0.93) than their long-term average of 0.71, meaning their price movements have been converging.

Return for Risk

BFFAX vs. PIMIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BFFAX

BFFAX Risk / Return Rank: 20
BFFAX Sharpe Ratio Rank: 19
BFFAX Sortino Ratio Rank: 21
BFFAX Omega Ratio Rank: 18
BFFAX Calmar Ratio Rank: 23
BFFAX Martin Ratio Rank: 20

PIMIX

PIMIX Risk / Return Rank: 45
PIMIX Sharpe Ratio Rank: 45
PIMIX Sortino Ratio Rank: 49
PIMIX Omega Ratio Rank: 48
PIMIX Calmar Ratio Rank: 42
PIMIX Martin Ratio Rank: 40

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BFFAX vs. PIMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds The Bond Fund of America Class F-3 (BFFAX) and PIMCO Income Fund Institutional Class (PIMIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BFFAX	PIMIX	Difference
Sharpe ratio Return per unit of total volatility	1.30	1.97	-0.67
Sortino ratio Return per unit of downside risk	1.97	2.96	-0.99
Omega ratio Gain probability vs. loss probability	1.23	1.38	-0.15
Calmar ratio Return relative to maximum drawdown	1.83	2.51	-0.68
Martin ratio Return relative to average drawdown	5.50	8.78	-3.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BFFAX vs. PIMIX - Sharpe Ratio Comparison

The current BFFAX Sharpe Ratio is 1.30, which is lower than the PIMIX Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of BFFAX and PIMIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BFFAX	PIMIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.30	1.97	-0.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.01	0.72	-0.71
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.11	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	1.57	-1.13

Drawdowns

BFFAX vs. PIMIX - Drawdown Comparison

The maximum BFFAX drawdown since its inception was -17.74%, which is greater than PIMIX's maximum drawdown of -13.39%. Use the drawdown chart below to compare losses from any high point for BFFAX and PIMIX.

Drawdown Indicators

	BFFAX	PIMIX	Difference
Max Drawdown Largest peak-to-trough decline	-17.74%	-13.39%	-4.35%
Max Drawdown (1Y) Largest decline over 1 year	-3.08%	-3.69%	+0.61%
Max Drawdown (3Y) Largest decline over 3 years	-6.10%	-3.84%	-2.26%
Max Drawdown (5Y) Largest decline over 5 years	-17.74%	-13.34%	-4.40%
Max Drawdown (10Y) Largest decline over 10 years	—	-13.39%	—
Current Drawdown Current decline from peak	-1.56%	-1.12%	-0.44%
Average Drawdown Average peak-to-trough decline	-4.69%	-1.69%	-3.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.02%	1.06%	-0.04%

Volatility

BFFAX vs. PIMIX - Volatility Comparison

The current volatility for American Funds The Bond Fund of America Class F-3 (BFFAX) is 1.40%, while PIMCO Income Fund Institutional Class (PIMIX) has a volatility of 1.68%. This indicates that BFFAX experiences smaller price fluctuations and is considered to be less risky than PIMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BFFAX	PIMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.40%	1.68%	-0.28%
Volatility (6M) Calculated over the trailing 6-month period	2.85%	3.28%	-0.43%
Volatility (1Y) Calculated over the trailing 1-year period	3.97%	4.16%	-0.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.96%	4.84%	+1.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.00%	4.25%	+0.75%

BFFAX vs. PIMIX - Expense Ratio Comparison

BFFAX has a 0.20% expense ratio, which is lower than PIMIX's 0.62% expense ratio.

Dividends

BFFAX vs. PIMIX - Dividend Comparison

BFFAX's dividend yield for the trailing twelve months is around 4.50%, less than PIMIX's 5.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BFFAX American Funds The Bond Fund of America Class F-3	4.50%	4.48%	4.67%	3.28%	2.46%	1.98%	5.38%	3.80%	2.72%	2.01%	0.00%	0.00%
PIMIX PIMCO Income Fund Institutional Class	5.84%	6.01%	6.27%	6.21%	4.98%	4.02%	4.88%	5.83%	5.66%	5.37%	5.52%	7.88%

Frequently Asked Questions

Can I hold both BFFAX and PIMIX in my portfolio?

With a correlation of 0.93, BFFAX and PIMIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BFFAX or PIMIX?

PIMIX has higher volatility (1.68%) compared to BFFAX (1.40%). In terms of maximum drawdown, BFFAX dropped -17.74% vs PIMIX's -13.39%.

Which has better risk-adjusted returns?

PIMIX currently has the higher Sharpe Ratio (1.97 vs 1.30), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.