FTKFX vs. PIMIX

Last updated Jun 13, 2026

FTKFX (Fidelity Total Bond K6 Fund) and PIMIX (PIMCO Income Fund Institutional Class) are both mutual funds - FTKFX 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, FTKFX returned 0.63%/yr vs 3.44%/yr for PIMIX. A 0.75 correlation means they provide meaningful diversification when combined. FTKFX charges 0.30%/yr vs 0.54%/yr for PIMIX.

Performance

FTKFX vs. PIMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Total Bond K6 Fund (FTKFX) and PIMCO Income Fund Institutional Class (PIMIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTKFX achieves a 0.69% return, which is significantly lower than PIMIX's 0.91% return.

FTKFX

• 1D: 0.57%
• 1M: 1.30%
• YTD: 0.69%
• 6M: 1.27%
• 1Y: 5.52%
• 3Y*: 4.74%
• 5Y*: 0.63%
• 10Y*: —

PIMIX

• 1D: 0.56%
• 1M: 1.76%
• YTD: 0.91%
• 6M: 1.78%
• 1Y: 7.88%
• 3Y*: 7.70%
• 5Y*: 3.44%
• 10Y*: 4.70%

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

FTKFX vs. PIMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTKFX Fidelity Total Bond K6 Fund	0.69%	7.53%	2.36%	6.65%	-13.23%	-0.46%	8.75%	10.03%	-0.75%	1.14%
PIMIX PIMCO Income Fund Institutional Class	0.91%	11.08%	5.45%	9.36%	-9.07%	2.62%	5.84%	8.10%	0.63%	3.69%

Correlation

The correlation between FTKFX and PIMIX is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jun 5, 2017	0.75

The correlation between FTKFX and PIMIX shifts across timeframes, from 0.75 (all time) to 0.92 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FTKFX vs. PIMIX — Risk / Return Rank

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

FTKFX

FTKFX Risk / Return Rank: 37
FTKFX Sharpe Ratio Rank: 38
FTKFX Sortino Ratio Rank: 40
FTKFX Omega Ratio Rank: 35
FTKFX Calmar Ratio Rank: 40
FTKFX Martin Ratio Rank: 30

PIMIX

PIMIX Risk / Return Rank: 60
PIMIX Sharpe Ratio Rank: 67
PIMIX Sortino Ratio Rank: 73
PIMIX Omega Ratio Rank: 71
PIMIX Calmar Ratio Rank: 47
PIMIX Martin Ratio Rank: 41

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.

FTKFX vs. PIMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Total Bond K6 Fund (FTKFX) 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.

	FTKFX	PIMIX	Difference
Sharpe ratio: Return per unit of total volatility	1.40	1.88	-0.48
Sortino ratio: Return per unit of downside risk	2.10	2.83	-0.73
Omega ratio: Gain probability vs. loss probability	1.25	1.36	-0.12
Calmar ratio: Return relative to maximum drawdown	1.98	2.12	-0.15
Martin ratio: Return relative to average drawdown	5.65	7.21	-1.56

FTKFX vs. PIMIX - Sharpe Ratio Comparison

The current FTKFX Sharpe Ratio is 1.40, which is comparable to the PIMIX Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of FTKFX 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

FTKFX vs. PIMIX - Drawdown Comparison

The maximum FTKFX drawdown since its inception was -17.81%, which is greater than PIMIX's maximum drawdown of -13.39%. Use the drawdown chart below to compare losses from any high point for FTKFX and PIMIX.

Drawdown Indicators

	FTKFX	PIMIX	Difference
Max Drawdown Largest peak-to-trough decline	-17.81%	-13.39%	-4.42%
Max Drawdown (1Y) Largest decline over 1 year	-2.82%	-3.69%	+0.87%
Max Drawdown (3Y) Largest decline over 3 years	-5.77%	-3.84%	-1.93%
Max Drawdown (5Y) Largest decline over 5 years	-17.81%	-13.34%	-4.47%
Max Drawdown (10Y) Largest decline over 10 years	—	-13.39%	—
Current Drawdown Current decline from peak	-1.22%	-1.02%	-0.20%
Average Drawdown Average peak-to-trough decline	-4.18%	-1.69%	-2.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.98%	1.08%	-0.10%

Volatility

FTKFX vs. PIMIX - Volatility Comparison

The current volatility for Fidelity Total Bond K6 Fund (FTKFX) is 1.38%, while PIMCO Income Fund Institutional Class (PIMIX) has a volatility of 1.67%. This indicates that FTKFX 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.

Volatility by Period

	FTKFX	PIMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.38%	1.67%	-0.29%
Volatility (6M) Calculated over the trailing 6-month period	2.95%	3.37%	-0.42%
Volatility (1Y) Calculated over the trailing 1-year period	3.97%	4.17%	-0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.67%	4.86%	+0.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.92%	4.26%	+0.66%

FTKFX vs. PIMIX - Expense Ratio Comparison

FTKFX has a 0.30% expense ratio, which is lower than PIMIX's 0.54% expense ratio.

Dividends

FTKFX vs. PIMIX - Dividend Comparison

FTKFX's dividend yield for the trailing twelve months is around 4.61%, less than PIMIX's 5.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTKFX Fidelity Total Bond K6 Fund	4.61%	4.61%	4.76%	3.86%	2.53%	2.24%	5.51%	3.26%	2.94%	1.63%	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 FTKFX and PIMIX in my portfolio?

With a correlation of 0.92, FTKFX and PIMIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FTKFX or PIMIX?

PIMIX has higher volatility (1.67%) compared to FTKFX (1.38%). In terms of maximum drawdown, FTKFX dropped -17.81% vs PIMIX's -13.39%.

Which has better risk-adjusted returns?

PIMIX currently has the higher Sharpe Ratio (1.88 vs 1.40), 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.