FAAA vs. PIMIX

Last updated Jun 4, 2026

FAAA (Fidelity AAA CLO ETF) and PIMIX (PIMCO Income Fund Institutional Class) are both funds - FAAA is a CLO fund actively managed by Fidelity, while PIMIX is a Multisector Bonds fund actively managed by PIMCO. Both are actively managed. At a 0.13 correlation, their price movements are largely independent. FAAA charges 0.20%/yr vs 0.54%/yr for PIMIX.

Performance

FAAA vs. PIMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity AAA CLO ETF (FAAA) and PIMCO Income Fund Institutional Class (PIMIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FAAA

• 1D: 0.02%
• 1M: 0.49%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PIMIX

• 1D: 0.18%
• 1M: 0.91%
• YTD: 1.00%
• 6M: 1.41%
• 1Y: 8.39%
• 3Y*: 7.87%
• 5Y*: 3.53%
• 10Y*: 4.71%

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

FAAA vs. PIMIX - Yearly Performance Comparison

	2026 (YTD)
FAAA Fidelity AAA CLO ETF	1.50%
PIMIX PIMCO Income Fund Institutional Class	-0.23%

Correlation

The correlation between FAAA and PIMIX is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 13, 2026	0.13

Return for Risk

FAAA vs. PIMIX — Risk / Return Rank

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

PIMIX

PIMIX Risk / Return Rank: 45
PIMIX Sharpe Ratio Rank: 48
PIMIX Sortino Ratio Rank: 53
PIMIX Omega Ratio Rank: 52
PIMIX Calmar Ratio Rank: 37
PIMIX Martin Ratio Rank: 36

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.

FAAA vs. PIMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity AAA CLO ETF (FAAA) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	FAAA	PIMIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.04	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.73	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.11	—
Sharpe Ratio (All Time) Calculated using the full available price history	5.41	1.57	+3.85

Drawdowns

FAAA vs. PIMIX - Drawdown Comparison

The maximum FAAA drawdown since its inception was -0.55%, smaller than the maximum PIMIX drawdown of -13.39%. Use the drawdown chart below to compare losses from any high point for FAAA and PIMIX.

Drawdown Indicators

	FAAA	PIMIX	Difference
Max Drawdown Largest peak-to-trough decline	-0.55%	-13.39%	+12.84%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.69%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-3.84%	—
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	0.00%	-0.93%	+0.93%
Average Drawdown Average peak-to-trough decline	-0.07%	-1.69%	+1.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.06%	—

Volatility

Volatility by Period

	FAAA	PIMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.68%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.29%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.94%	4.15%	-3.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.94%	4.84%	-3.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.94%	4.25%	-3.31%

FAAA vs. PIMIX - Expense Ratio Comparison

FAAA has a 0.20% expense ratio, which is lower than PIMIX's 0.54% expense ratio.

Dividends

FAAA vs. PIMIX - Dividend Comparison

FAAA's dividend yield for the trailing twelve months is around 1.32%, less than PIMIX's 5.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAAA Fidelity AAA CLO ETF	1.32%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PIMIX PIMCO Income Fund Institutional Class	5.83%	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 FAAA and PIMIX in my portfolio?

FAAA and PIMIX have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.