FHPFX vs. PIMIX
FHPFX (Fidelity Series Investment Grade Securitized Fund) and PIMIX (PIMCO Income Fund Institutional Class) are both mutual funds - FHPFX is a Total Bond Market fund managed by Fidelity, while PIMIX is a Multisector Bonds fund actively managed by PIMCO. Over the past 5 years, FHPFX returned 0.64%/yr vs 3.58%/yr for PIMIX. A 0.74 correlation means they provide meaningful diversification when combined. FHPFX charges 0.00%/yr vs 0.54%/yr for PIMIX.
Performance
FHPFX vs. PIMIX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with FHPFX having a 1.04% return and PIMIX slightly lower at 1.00%.
FHPFX
- 1D
- 0.22%
- 1M
- 0.92%
- YTD
- 1.04%
- 6M
- 1.39%
- 1Y
- 6.58%
- 3Y*
- 4.80%
- 5Y*
- 0.64%
- 10Y*
- —
PIMIX
- 1D
- 0.09%
- 1M
- 1.19%
- YTD
- 1.00%
- 6M
- 1.60%
- 1Y
- 7.88%
- 3Y*
- 7.73%
- 5Y*
- 3.58%
- 10Y*
- 4.72%
FHPFX vs. PIMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FHPFX Fidelity Series Investment Grade Securitized Fund | 1.04% | 8.76% | 1.81% | 5.29% | -12.28% | -1.06% | 4.84% | 6.69% | 1.41% |
PIMIX PIMCO Income Fund Institutional Class | 1.00% | 11.08% | 5.45% | 9.36% | -9.07% | 2.62% | 5.84% | 8.10% | 1.61% |
Correlation
The correlation between FHPFX and PIMIX is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Aug 31, 2018 | 0.74 |
The correlation between FHPFX and PIMIX shifts across timeframes, from 0.74 (all time) to 0.90 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
FHPFX vs. PIMIX — Risk / Return Rank
FHPFX
PIMIX
FHPFX vs. PIMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Investment Grade Securitized Fund (FHPFX) 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.
| FHPFX | PIMIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.37 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | 2.15 | +0.38 |
| Martin ratioReturn relative to average drawdown | 7.64 | 7.27 | +0.37 |
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Drawdowns
FHPFX vs. PIMIX - Drawdown Comparison
The maximum FHPFX drawdown since its inception was -17.93%, which is greater than PIMIX's maximum drawdown of -13.39%. Use the drawdown chart below to compare losses from any high point for FHPFX and PIMIX.
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Drawdown Indicators
| FHPFX | PIMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.93% | -13.39% | -4.54% |
Max Drawdown (1Y)Largest decline over 1 year | -2.61% | -3.69% | +1.08% |
Max Drawdown (3Y)Largest decline over 3 years | -7.56% | -3.84% | -3.72% |
Max Drawdown (5Y)Largest decline over 5 years | -17.79% | -13.34% | -4.45% |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.39% | — |
Current DrawdownCurrent decline from peak | -1.06% | -0.93% | -0.13% |
Average DrawdownAverage peak-to-trough decline | -4.51% | -1.69% | -2.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 1.09% | -0.23% |
Volatility
FHPFX vs. PIMIX - Volatility Comparison
The current volatility for Fidelity Series Investment Grade Securitized Fund (FHPFX) is 1.28%, while PIMCO Income Fund Institutional Class (PIMIX) has a volatility of 1.42%. This indicates that FHPFX 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
| FHPFX | PIMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.28% | 1.42% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 2.93% | 3.39% | -0.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.02% | 4.17% | -0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.68% | 4.86% | +1.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.64% | 4.26% | +1.38% |
FHPFX vs. PIMIX - Expense Ratio Comparison
FHPFX has a 0.00% expense ratio, which is lower than PIMIX's 0.54% expense ratio.
Dividends
FHPFX vs. PIMIX - Dividend Comparison
FHPFX's dividend yield for the trailing twelve months is around 4.48%, less than PIMIX's 5.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FHPFX Fidelity Series Investment Grade Securitized Fund | 4.48% | 4.41% | 4.54% | 3.53% | 1.70% | 0.58% | 3.20% | 3.81% | 1.16% | 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
FHPFX and PIMIX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PIMIX has higher volatility (1.42%) compared to FHPFX (1.28%). In terms of maximum drawdown, FHPFX dropped -17.93% vs PIMIX's -13.39%.
PIMIX currently has the higher Sharpe Ratio (1.91 vs 1.65), 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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