DFIP vs. PIMIX

Last updated Jul 12, 2026

DFIP (Dimensional Inflation-Protected Securities ETF) and PIMIX (PIMCO Income Fund Institutional Class) are both funds - DFIP is a Inflation-Protected Bonds fund actively managed by Dimensional, while PIMIX is a Multisector Bonds fund actively managed by PIMCO. Both are actively managed. Over the past 3 years, DFIP returned 4.44%/yr vs 7.78%/yr for PIMIX. A 0.70 correlation means they provide meaningful diversification when combined. DFIP charges 0.11%/yr vs 0.54%/yr for PIMIX.

Performance

DFIP vs. PIMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional Inflation-Protected Securities ETF (DFIP) and PIMCO Income Fund Institutional Class (PIMIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with DFIP having a 1.01% return and PIMIX slightly lower at 0.98%.

DFIP

• 1D: 0.02%
• 1M: -0.31%
• 6M: 0.79%
• YTD: 1.01%
• 1Y: 3.33%
• 3Y*: 4.44%
• 5Y*: —
• 10Y*: —

PIMIX

• 1D: 0.19%
• 1M: -0.02%
• 6M: 0.70%
• YTD: 0.98%
• 1Y: 7.01%
• 3Y*: 7.78%
• 5Y*: 3.49%
• 10Y*: 4.60%

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

DFIP vs. PIMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DFIP Dimensional Inflation-Protected Securities ETF	1.01%	7.54%	1.72%	4.07%	-12.39%	-0.37%
PIMIX PIMCO Income Fund Institutional Class	0.98%	11.08%	5.45%	9.36%	-9.07%	0.34%

Correlation

The correlation between DFIP and PIMIX is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (All Time) Calculated using the full available price history since Nov 16, 2021	0.70

The correlation between DFIP and PIMIX has been stable across timeframes, ranging from 0.69 to 0.77 - a consistent structural relationship.

Return for Risk

DFIP vs. PIMIX — Risk / Return Rank

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

DFIP

DFIP Risk / Return Rank: 32
DFIP Sharpe Ratio Rank: 30
DFIP Sortino Ratio Rank: 30
DFIP Omega Ratio Rank: 28
DFIP Calmar Ratio Rank: 38
DFIP Martin Ratio Rank: 36

PIMIX

PIMIX Risk / Return Rank: 47
PIMIX Sharpe Ratio Rank: 53
PIMIX Sortino Ratio Rank: 57
PIMIX Omega Ratio Rank: 56
PIMIX Calmar Ratio Rank: 36
PIMIX Martin Ratio Rank: 35

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.

DFIP vs. PIMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Inflation-Protected Securities ETF (DFIP) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DFIP	PIMIX	Difference
Sharpe ratio: Return per unit of total volatility	0.91	1.62	-0.71
Sortino ratio: Return per unit of downside risk	1.36	2.38	-1.02
Omega ratio: Gain probability vs. loss probability	1.16	1.31	-0.15
Calmar ratio: Return relative to maximum drawdown	1.57	1.80	-0.24
Martin ratio: Return relative to average drawdown	4.48	6.08	-1.60

DFIP vs. PIMIX - Sharpe Ratio Comparison

The current DFIP Sharpe Ratio is 0.91, which is lower than the PIMIX Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of DFIP 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.

Drawdowns

DFIP vs. PIMIX - Drawdown Comparison

The maximum DFIP drawdown since its inception was -14.96%, which is greater than PIMIX's maximum drawdown of -13.39%. Use the drawdown chart below to compare losses from any high point for DFIP and PIMIX.

Drawdown Indicators

	DFIP	PIMIX	Difference
Max Drawdown Largest peak-to-trough decline	-14.96%	-13.39%	-1.57%
Max Drawdown (1Y) Largest decline over 1 year	-2.06%	-3.69%	+1.63%
Max Drawdown (3Y) Largest decline over 3 years	-4.74%	-3.84%	-0.90%
Max Drawdown (5Y) Largest decline over 5 years	—	-13.34%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-13.39%	—
Current Drawdown Current decline from peak	-0.94%	-0.95%	+0.01%
Average Drawdown Average peak-to-trough decline	-6.82%	-1.69%	-5.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.72%	1.09%	-0.37%

Volatility

DFIP vs. PIMIX - Volatility Comparison

Dimensional Inflation-Protected Securities ETF (DFIP) has a higher volatility of 1.32% compared to PIMCO Income Fund Institutional Class (PIMIX) at 1.14%. This indicates that DFIP's price experiences larger fluctuations and is considered to be riskier than PIMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFIP	PIMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.32%	1.14%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	2.60%	3.46%	-0.86%
Volatility (1Y) Calculated over the trailing 1-year period	3.52%	4.13%	-0.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.76%	4.87%	+1.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.76%	4.25%	+2.51%

DFIP vs. PIMIX - Expense Ratio Comparison

DFIP has a 0.11% expense ratio, which is lower than PIMIX's 0.54% expense ratio.

Dividends

DFIP vs. PIMIX - Dividend Comparison

DFIP's dividend yield for the trailing twelve months is around 4.65%, less than PIMIX's 5.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFIP Dimensional Inflation-Protected Securities ETF	4.65%	4.70%	3.69%	3.68%	5.97%	0.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PIMIX PIMCO Income Fund Institutional Class	5.79%	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 DFIP and PIMIX in my portfolio?

DFIP and PIMIX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFIP or PIMIX?

DFIP has higher volatility (1.32%) compared to PIMIX (1.14%). In terms of maximum drawdown, DFIP dropped -14.96% vs PIMIX's -13.39%.

Which has better risk-adjusted returns?

PIMIX currently has the higher Sharpe Ratio (1.62 vs 0.91), 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.