MINO vs. PYLD
MINO (PIMCO Municipal Income Opportunities Active Exchange-Traded Fund) and PYLD (PIMCO Multisector Bond Active Exchange-Traded Fund) are both exchange-traded funds - MINO is a Municipal Bonds fund actively managed by PIMCO, while PYLD is a Multisector Bonds fund actively managed by PIMCO. Both are actively managed. Over the past 3 years, MINO returned 4.16%/yr vs 7.74%/yr for PYLD. Their 0.62 correlation means they have sometimes moved together and sometimes differently. MINO charges 0.39%/yr vs 0.55%/yr for PYLD.
Performance
MINO vs. PYLD - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with MINO having a 0.87% return and PYLD slightly lower at 0.83%.
MINO
- 1D
- -0.20%
- 1M
- -1.84%
- 6M
- 0.17%
- YTD
- 0.87%
- 1Y
- 5.64%
- 3Y*
- 4.16%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 1.16%
PYLD
- 1D
- -0.19%
- 1M
- -0.91%
- 6M
- 0.19%
- YTD
- 0.83%
- 1Y
- 4.78%
- 3Y*
- 7.74%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 7.58%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $4.84M | $4.61M | $4.86M | |
| $85.99M | $101.13M | $105.82M |
MINO vs. PYLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
MINO PIMCO Municipal Income Opportunities Active Exchange-Traded Fund | 0.87% | 4.42% | 3.13% | 4.34% |
PYLD PIMCO Multisector Bond Active Exchange-Traded Fund | 0.83% | 9.57% | 7.69% | 5.46% |
Correlation
The correlation between MINO and PYLD is 0.61, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.61 |
Correlation (3Y) Balances recent behavior with more history. | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2023 | 0.62 |
The correlation between MINO and PYLD has been stable across timeframes, ranging from 0.61 to 0.62 - a consistent structural relationship.
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Return for Risk
MINO vs. PYLD — Risk / Return Rank
MINO
PYLD
MINO vs. PYLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (MINO) and PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD). 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.
| MINO | PYLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.61 | ||
| Sortino ratioReturn per unit of downside risk | +1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.32 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.67 | 1.65 | +1.02 |
| Martin ratioReturn relative to average drawdown | 9.12 | 7.13 | +1.99 |
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Drawdowns
MINO vs. PYLD - Drawdown Comparison
The maximum MINO drawdown since its inception was -15.24%, which is greater than PYLD's maximum drawdown of -4.52%. Use the drawdown chart below to compare losses from any high point for MINO and PYLD.
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Drawdown Indicators
| MINO | PYLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.24% | -4.52% | -10.72% |
Max Drawdown (1Y)Largest decline over 1 year | -2.41% | -3.25% | +0.84% |
Max Drawdown (3Y)Largest decline over 3 years | -4.71% | -3.88% | -0.83% |
Current DrawdownCurrent decline from peak | -1.84% | -1.13% | -0.71% |
Average DrawdownAverage peak-to-trough decline | -4.13% | -0.64% | -3.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.70% | 0.75% | -0.05% |
Volatility
MINO vs. PYLD - Volatility Comparison
PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (MINO) and PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD) have volatilities of 0.90% and 0.88%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MINO | PYLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.90% | 0.88% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 2.07% | 2.73% | -0.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.76% | 3.11% | -0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.49% | 3.96% | +0.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.49% | 3.96% | +0.53% |
MINO vs. PYLD - Expense Ratio Comparison
MINO has a 0.39% expense ratio, which is lower than PYLD's 0.55% expense ratio.
Dividends
MINO vs. PYLD - Dividend Comparison
MINO's dividend yield for the trailing twelve months is around 3.95%, less than PYLD's 6.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
MINO PIMCO Municipal Income Opportunities Active Exchange-Traded Fund | 3.64% | 3.71% | 3.91% | 3.78% | 2.87% | 0.29% |
PYLD PIMCO Multisector Bond Active Exchange-Traded Fund | 5.88% | 6.21% | 6.40% | 2.72% | 0.00% | 0.00% |
Frequently Asked Questions
MINO and PYLD have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MINO has higher volatility (0.90%) compared to PYLD (0.88%). In terms of maximum drawdown, MINO dropped -15.24% vs PYLD's -4.52%.
On 3-year performance, PYLD leads with 7.74% vs 4.16% for MINO. On fees, MINO is cheaper at 0.39% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PYLD has performed better with a 7.74% return vs 4.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MINO is cheaper with a 0.39% expense ratio, compared with 0.55% for PYLD.
PYLD has the higher dividend yield at 5.88%, compared with 3.64% for MINO.
MINO is categorized as Municipal Bonds, while PYLD is Multisector Bonds. Their fees differ too: 0.39% for MINO and 0.55% for PYLD.
MINO currently has the higher Sharpe Ratio (2.33 vs 1.72), 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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