JMUIX vs. PIMIX

Last updated Jun 4, 2026

JMUIX (Janus Henderson Multi-Sector Income Fund) and PIMIX (PIMCO Income Fund Institutional Class) are both mutual funds - JMUIX is a Multisector Bonds fund managed by Janus Henderson, while PIMIX is a Total Bond Market fund managed by PIMCO. Over the past 10 years, JMUIX returned 4.54%/yr vs 4.71%/yr for PIMIX. A 0.73 correlation means they provide meaningful diversification when combined. JMUIX charges 0.69%/yr vs 0.62%/yr for PIMIX.

Performance

JMUIX vs. PIMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Multi-Sector Income Fund (JMUIX) and PIMCO Income Fund Institutional Class (PIMIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with JMUIX having a 1.03% return and PIMIX slightly lower at 1.00%. Both investments have delivered pretty close results over the past 10 years, with JMUIX having a 4.54% annualized return and PIMIX not far ahead at 4.71%.

JMUIX

• 1D: 0.00%
• 1M: 0.59%
• YTD: 1.03%
• 6M: 1.52%
• 1Y: 7.36%
• 3Y*: 7.90%
• 5Y*: 3.05%
• 10Y*: 4.54%

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)

JMUIX vs. PIMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JMUIX Janus Henderson Multi-Sector Income Fund	1.03%	9.63%	7.01%	10.39%	-11.91%	3.26%	5.48%	11.21%	0.65%	6.57%
PIMIX PIMCO Income Fund Institutional Class	1.00%	11.08%	5.45%	9.36%	-9.07%	2.62%	5.84%	8.10%	0.63%	8.63%

Correlation

The correlation between JMUIX 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	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Mar 6, 2014	0.73

The correlation between JMUIX and PIMIX shifts across timeframes, from 0.73 (all time) to 0.90 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

JMUIX vs. PIMIX — Risk / Return Rank

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

JMUIX

JMUIX Risk / Return Rank: 68
JMUIX Sharpe Ratio Rank: 58
JMUIX Sortino Ratio Rank: 79
JMUIX Omega Ratio Rank: 75
JMUIX Calmar Ratio Rank: 59
JMUIX Martin Ratio Rank: 68

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.

JMUIX vs. PIMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Multi-Sector Income Fund (JMUIX) 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.

	JMUIX	PIMIX	Difference
Sharpe ratio Return per unit of total volatility	2.25	2.04	+0.21
Sortino ratio Return per unit of downside risk	3.75	3.07	+0.68
Omega ratio Gain probability vs. loss probability	1.49	1.40	+0.09
Calmar ratio Return relative to maximum drawdown	2.96	2.29	+0.67
Martin ratio Return relative to average drawdown	13.20	7.97	+5.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JMUIX vs. PIMIX - Sharpe Ratio Comparison

The current JMUIX Sharpe Ratio is 2.25, which is comparable to the PIMIX Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of JMUIX 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.

Sharpe Ratios by Period

	JMUIX	PIMIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.25	2.04	+0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.73	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.13	1.11	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	1.15	1.57	-0.42

Drawdowns

JMUIX vs. PIMIX - Drawdown Comparison

The maximum JMUIX drawdown since its inception was -16.09%, which is greater than PIMIX's maximum drawdown of -13.39%. Use the drawdown chart below to compare losses from any high point for JMUIX and PIMIX.

Drawdown Indicators

	JMUIX	PIMIX	Difference
Max Drawdown Largest peak-to-trough decline	-16.09%	-13.39%	-2.70%
Max Drawdown (1Y) Largest decline over 1 year	-2.50%	-3.69%	+1.19%
Max Drawdown (3Y) Largest decline over 3 years	-3.62%	-3.84%	+0.22%
Max Drawdown (5Y) Largest decline over 5 years	-15.99%	-13.34%	-2.65%
Max Drawdown (10Y) Largest decline over 10 years	-16.09%	-13.39%	-2.70%
Current Drawdown Current decline from peak	-0.12%	-0.93%	+0.81%
Average Drawdown Average peak-to-trough decline	-2.13%	-1.69%	-0.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.56%	1.06%	-0.50%

Volatility

JMUIX vs. PIMIX - Volatility Comparison

The current volatility for Janus Henderson Multi-Sector Income Fund (JMUIX) is 1.28%, while PIMCO Income Fund Institutional Class (PIMIX) has a volatility of 1.68%. This indicates that JMUIX 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

	JMUIX	PIMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.28%	1.68%	-0.40%
Volatility (6M) Calculated over the trailing 6-month period	2.57%	3.29%	-0.72%
Volatility (1Y) Calculated over the trailing 1-year period	3.29%	4.15%	-0.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.44%	4.84%	-0.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.05%	4.25%	-0.20%

JMUIX vs. PIMIX - Expense Ratio Comparison

JMUIX has a 0.69% expense ratio, which is higher than PIMIX's 0.62% expense ratio.

Dividends

JMUIX vs. PIMIX - Dividend Comparison

JMUIX's dividend yield for the trailing twelve months is around 6.44%, more than PIMIX's 5.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JMUIX Janus Henderson Multi-Sector Income Fund	6.44%	6.57%	7.00%	6.66%	5.15%	4.25%	4.62%	4.99%	4.69%	5.66%	5.16%	4.86%
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 JMUIX and PIMIX in my portfolio?

JMUIX 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.

Which is riskier, JMUIX or PIMIX?

PIMIX has higher volatility (1.68%) compared to JMUIX (1.28%). In terms of maximum drawdown, JMUIX dropped -16.09% vs PIMIX's -13.39%.

Which has better risk-adjusted returns?

JMUIX currently has the higher Sharpe Ratio (2.25 vs 2.04), 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.