DHEAX vs. PIMIX
DHEAX (Diamond Hill Short Duration Securitized Bond Fund) and PIMIX (PIMCO Income Fund Institutional Class) are both mutual funds - DHEAX is a Short-Term Bond fund managed by Diamond Hill, while PIMIX is a Multisector Bonds fund actively managed by PIMCO. Over the past 5 years, DHEAX returned 4.29%/yr vs 3.23%/yr for PIMIX. Their 0.48 correlation means their historical movements had little consistent relationship. DHEAX charges 0.83%/yr vs 0.54%/yr for PIMIX.
Performance
DHEAX vs. PIMIX - Performance Comparison
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Returns By Period
In the year-to-date period, DHEAX achieves a 2.33% return, which is significantly higher than PIMIX's 0.23% return.
DHEAX
- 1D
- 0.03%
- 1M
- 0.33%
- 6M
- 1.88%
- YTD
- 2.33%
- 1Y
- 4.20%
- 3Y*
- 7.19%
- 5Y*
- 4.29%
- 10Y*
- —
- ALL TIME*
- 3.98%
PIMIX
- 1D
- 0.09%
- 1M
- -1.20%
- 6M
- -0.36%
- YTD
- 0.23%
- 1Y
- 4.60%
- 3Y*
- 6.91%
- 5Y*
- 3.23%
- 10Y*
- 4.44%
- ALL TIME*
- 6.59%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
DHEAX vs. PIMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DHEAX Diamond Hill Short Duration Securitized Bond Fund | 2.33% | 5.70% | 9.15% | 8.38% | -3.57% | 2.42% | 2.87% | 4.44% | 2.88% | 3.97% |
PIMIX PIMCO Income Fund Institutional Class | 0.23% | 11.08% | 5.45% | 9.36% | -9.07% | 2.62% | 5.84% | 8.10% | 0.63% | 8.63% |
Correlation
The correlation between DHEAX and PIMIX is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.54 |
Correlation (3Y) Balances recent behavior with more history. | 0.62 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | 0.48 |
The correlation between DHEAX and PIMIX shifts across timeframes, from 0.48 (all time) to 0.62 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
DHEAX vs. PIMIX — Risk / Return Rank
DHEAX
PIMIX
DHEAX vs. PIMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Diamond Hill Short Duration Securitized Bond Fund (DHEAX) 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.
| DHEAX | PIMIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.61 | ||
| Sortino ratioReturn per unit of downside risk | +4.55 | ||
| Omega ratioGain probability vs. loss probability | 2.26 | 1.27 | +0.99 |
| Calmar ratioReturn relative to maximum drawdown | 9.06 | 1.59 | +7.47 |
| Martin ratioReturn relative to average drawdown | 38.81 | 5.07 | +33.74 |
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Drawdowns
DHEAX vs. PIMIX - Drawdown Comparison
The maximum DHEAX drawdown since its inception was -12.34%, smaller than the maximum PIMIX drawdown of -13.39%. Use the drawdown chart below to compare losses from any high point for DHEAX and PIMIX.
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Drawdown Indicators
| DHEAX | PIMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.34% | -13.39% | +1.05% |
Max Drawdown (1Y)Largest decline over 1 year | -0.50% | -3.69% | +3.19% |
Max Drawdown (3Y)Largest decline over 3 years | -0.50% | -3.69% | +3.19% |
Max Drawdown (5Y)Largest decline over 5 years | -5.06% | -13.34% | +8.28% |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.39% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.69% | +1.69% |
Average DrawdownAverage peak-to-trough decline | -0.79% | -1.68% | +0.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.12% | 1.15% | -1.03% |
Volatility
DHEAX vs. PIMIX - Volatility Comparison
The current volatility for Diamond Hill Short Duration Securitized Bond Fund (DHEAX) is 0.27%, while PIMCO Income Fund Institutional Class (PIMIX) has a volatility of 1.15%. This indicates that DHEAX 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.
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Volatility by Period
| DHEAX | PIMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.27% | 1.15% | -0.88% |
Volatility (6M)Calculated over the trailing 6-month period | 0.76% | 3.55% | -2.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.12% | 4.14% | -3.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.52% | 4.89% | -3.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.25% | 4.26% | -2.01% |
DHEAX vs. PIMIX - Expense Ratio Comparison
DHEAX has a 0.83% expense ratio, which is higher than PIMIX's 0.54% expense ratio.
Dividends
DHEAX vs. PIMIX - Dividend Comparison
DHEAX's dividend yield for the trailing twelve months is around 5.67%, more than PIMIX's 5.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DHEAX Diamond Hill Short Duration Securitized Bond Fund | 5.67% | 5.27% | 5.94% | 5.25% | 3.41% | 2.31% | 2.92% | 3.76% | 3.45% | 3.20% | 0.00% | 0.00% |
PIMIX PIMCO Income Fund Institutional Class | 5.32% | 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
DHEAX and PIMIX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PIMIX has higher volatility (1.15%) compared to DHEAX (0.27%). In terms of maximum drawdown, DHEAX dropped -12.34% vs PIMIX's -13.39%.
DHEAX currently has the higher Sharpe Ratio (4.03 vs 1.42), 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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