IAU vs. PIMIX
IAU (iShares Gold Trust) and PIMIX (PIMCO Income Fund Institutional Class) are both funds - IAU is a Gold fund tracking the LBMA Gold Price, while PIMIX is a Multisector Bonds fund actively managed by PIMCO. IAU is passively managed, while PIMIX is actively managed. Over the past 10 years, IAU returned 12.71%/yr vs 4.61%/yr for PIMIX. At a 0.17 correlation, their price movements are largely independent. IAU charges 0.25%/yr vs 0.54%/yr for PIMIX.
Performance
IAU vs. PIMIX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with IAU having a 0.26% return and PIMIX slightly lower at 0.25%. Over the past 10 years, IAU has outperformed PIMIX with an annualized return of 12.71%, while PIMIX has yielded a comparatively lower 4.61% annualized return.
IAU
- 1D
- 0.20%
- 1M
- -8.43%
- YTD
- 0.26%
- 6M
- 3.08%
- 1Y
- 30.27%
- 3Y*
- 29.88%
- 5Y*
- 17.71%
- 10Y*
- 12.71%
PIMIX
- 1D
- -0.55%
- 1M
- -0.57%
- YTD
- 0.25%
- 6M
- 1.13%
- 1Y
- 7.90%
- 3Y*
- 7.53%
- 5Y*
- 3.34%
- 10Y*
- 4.61%
IAU vs. PIMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAU iShares Gold Trust | 0.26% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | -1.76% | 12.91% |
PIMIX PIMCO Income Fund Institutional Class | 0.25% | 11.08% | 5.45% | 9.36% | -9.07% | 2.62% | 5.84% | 8.10% | 0.63% | 8.63% |
Correlation
The correlation between IAU and PIMIX is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2007 | 0.17 |
The correlation between IAU and PIMIX shifts across timeframes, from 0.17 (all time) to 0.35 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IAU vs. PIMIX — Risk / Return Rank
IAU
PIMIX
IAU vs. PIMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust (IAU) 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.
| IAU | PIMIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.34 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | 2.02 | -0.50 |
| Martin ratioReturn relative to average drawdown | 3.80 | 6.96 | -3.16 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IAU | PIMIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.14 | 1.78 | -0.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.99 | 0.69 | +0.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.80 | 1.09 | -0.29 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 1.56 | -0.94 |
Drawdowns
IAU vs. PIMIX - Drawdown Comparison
The maximum IAU drawdown since its inception was -45.14%, which is greater than PIMIX's maximum drawdown of -13.39%. Use the drawdown chart below to compare losses from any high point for IAU and PIMIX.
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Drawdown Indicators
| IAU | PIMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.14% | -13.39% | -31.75% |
Max Drawdown (1Y)Largest decline over 1 year | -20.04% | -3.69% | -16.35% |
Max Drawdown (3Y)Largest decline over 3 years | -20.04% | -3.84% | -16.20% |
Max Drawdown (5Y)Largest decline over 5 years | -20.93% | -13.34% | -7.59% |
Max Drawdown (10Y)Largest decline over 10 years | -21.82% | -13.39% | -8.43% |
Current DrawdownCurrent decline from peak | -19.88% | -1.66% | -18.22% |
Average DrawdownAverage peak-to-trough decline | -15.97% | -1.69% | -14.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.99% | 1.07% | +6.92% |
Volatility
IAU vs. PIMIX - Volatility Comparison
iShares Gold Trust (IAU) has a higher volatility of 5.64% compared to PIMCO Income Fund Institutional Class (PIMIX) at 1.69%. This indicates that IAU'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.
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Volatility by Period
| IAU | PIMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.64% | 1.69% | +3.95% |
Volatility (6M)Calculated over the trailing 6-month period | 23.33% | 3.33% | +20.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.68% | 4.19% | +22.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.02% | 4.85% | +13.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.94% | 4.25% | +11.69% |
IAU vs. PIMIX - Expense Ratio Comparison
IAU has a 0.25% expense ratio, which is lower than PIMIX's 0.54% expense ratio.
Dividends
IAU vs. PIMIX - Dividend Comparison
IAU has not paid dividends to shareholders, while PIMIX's dividend yield for the trailing twelve months is around 5.87%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAU iShares Gold Trust | 0.00% | 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 | 5.87% | 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
IAU and PIMIX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAU has higher volatility (5.64%) compared to PIMIX (1.69%). In terms of maximum drawdown, IAU dropped -45.14% vs PIMIX's -13.39%.
PIMIX currently has the higher Sharpe Ratio (1.78 vs 1.14), 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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