BIDAX vs. FXIEX
BIDAX (iShares Municipal Bond Index Fund) and FXIEX (PIMCO Fixed Income SHares: Series TE) are both Municipal Bonds funds. Over the past 5 years, BIDAX returned 0.69%/yr vs 1.67%/yr for FXIEX. Their correlation of 0.84 suggests significant overlap in exposure. BIDAX charges 0.50%/yr vs 0.07%/yr for FXIEX.
Performance
BIDAX vs. FXIEX - Performance Comparison
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Returns By Period
In the year-to-date period, BIDAX achieves a 1.41% return, which is significantly lower than FXIEX's 1.81% return.
BIDAX
- 1D
- 0.18%
- 1M
- 0.72%
- YTD
- 1.41%
- 6M
- 1.76%
- 1Y
- 6.97%
- 3Y*
- 3.69%
- 5Y*
- 0.69%
- 10Y*
- —
FXIEX
- 1D
- 0.20%
- 1M
- 0.91%
- YTD
- 1.81%
- 6M
- 2.24%
- 1Y
- 6.90%
- 3Y*
- 5.23%
- 5Y*
- 1.67%
- 10Y*
- 2.91%
BIDAX vs. FXIEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BIDAX iShares Municipal Bond Index Fund | 1.41% | 4.52% | 1.44% | 5.74% | -9.41% | 1.38% | 4.70% | 7.56% | 1.44% |
FXIEX PIMCO Fixed Income SHares: Series TE | 1.81% | 3.37% | 5.16% | 8.92% | -10.89% | 2.19% | 7.22% | 8.45% | 1.50% |
Correlation
The correlation between BIDAX and FXIEX is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Nov 19, 2018 | 0.84 |
The correlation between BIDAX and FXIEX shifts across timeframes, from 0.75 (1 year) to 0.85 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
BIDAX vs. FXIEX — Risk / Return Rank
BIDAX
FXIEX
BIDAX vs. FXIEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Municipal Bond Index Fund (BIDAX) and PIMCO Fixed Income SHares: Series TE (FXIEX). 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.
| BIDAX | FXIEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.66 | 1.61 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.37 | 3.61 | -1.24 |
| Martin ratioReturn relative to average drawdown | 8.02 | 11.89 | -3.87 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BIDAX | FXIEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.63 | 2.49 | +0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.17 | 0.40 | -0.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.73 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.60 | -0.06 |
Drawdowns
BIDAX vs. FXIEX - Drawdown Comparison
The maximum BIDAX drawdown since its inception was -14.39%, smaller than the maximum FXIEX drawdown of -15.25%. Use the drawdown chart below to compare losses from any high point for BIDAX and FXIEX.
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Drawdown Indicators
| BIDAX | FXIEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.39% | -15.25% | +0.86% |
Max Drawdown (1Y)Largest decline over 1 year | -2.95% | -2.42% | -0.53% |
Max Drawdown (3Y)Largest decline over 3 years | -6.07% | -5.56% | -0.51% |
Max Drawdown (5Y)Largest decline over 5 years | -14.39% | -15.25% | +0.86% |
Max Drawdown (10Y)Largest decline over 10 years | — | -15.25% | — |
Current DrawdownCurrent decline from peak | -0.65% | 0.00% | -0.65% |
Average DrawdownAverage peak-to-trough decline | -3.52% | -2.90% | -0.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.87% | 1.66% | -0.79% |
Volatility
BIDAX vs. FXIEX - Volatility Comparison
The current volatility for iShares Municipal Bond Index Fund (BIDAX) is 1.06%, while PIMCO Fixed Income SHares: Series TE (FXIEX) has a volatility of 1.29%. This indicates that BIDAX experiences smaller price fluctuations and is considered to be less risky than FXIEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BIDAX | FXIEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 1.29% | -0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 2.06% | 2.19% | -0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.68% | 3.55% | -0.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.08% | 4.37% | -0.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.44% | 4.10% | +0.34% |
BIDAX vs. FXIEX - Expense Ratio Comparison
BIDAX has a 0.50% expense ratio, which is higher than FXIEX's 0.07% expense ratio.
Dividends
BIDAX vs. FXIEX - Dividend Comparison
BIDAX's dividend yield for the trailing twelve months is around 3.11%, more than FXIEX's 2.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BIDAX iShares Municipal Bond Index Fund | 3.11% | 4.09% | 3.25% | 2.16% | 1.92% | 2.36% | 2.35% | 3.64% | 0.48% | 0.00% |
FXIEX PIMCO Fixed Income SHares: Series TE | 2.79% | 2.75% | 4.53% | 3.98% | 3.25% | 2.63% | 3.37% | 3.63% | 3.79% | 2.67% |
Frequently Asked Questions
BIDAX and FXIEX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXIEX has higher volatility (1.29%) compared to BIDAX (1.06%). In terms of maximum drawdown, BIDAX dropped -14.39% vs FXIEX's -15.25%.
BIDAX currently has the higher Sharpe Ratio (2.63 vs 2.49), 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.
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