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MMT vs. PFL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MMT vs. PFL

Last updated Jun 23, 2026

MMT (MFS Multimarket Income Trust) and PFL (PIMCO Income Strategy Fund) are both Multisector Bonds funds. Over the past 10 years, MMT returned 5.91%/yr vs 7.69%/yr for PFL. At a 0.27 correlation, their price movements are largely independent.

Performance

MMT vs. PFL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Multimarket Income Trust (MMT) and PIMCO Income Strategy Fund (PFL). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, MMT achieves a 0.86% return, which is significantly higher than PFL's -4.64% return. Over the past 10 years, MMT has underperformed PFL with an annualized return of 5.91%, while PFL has yielded a comparatively higher 7.69% annualized return.

MMT

1D
0.45%
1M
0.74%
YTD
0.86%
6M
0.64%
1Y
6.20%
3Y*
9.33%
5Y*
2.01%
10Y*
5.91%

PFL

1D
-0.53%
1M
-0.76%
YTD
-4.64%
6M
-3.84%
1Y
2.98%
3Y*
9.83%
5Y*
0.79%
10Y*
7.69%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MMT vs. PFL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MMT
MFS Multimarket Income Trust		0.86%8.10%12.40%10.14%-22.96%13.11%8.88%30.32%-7.70%9.29%
PFL
PIMCO Income Strategy Fund		-4.64%13.03%11.51%17.29%-17.92%4.62%7.11%19.65%2.06%21.26%

Correlation

The correlation between MMT and PFL is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.29

Correlation (3Y)
Calculated over the trailing 3-year period

0.36

Correlation (5Y)
Calculated over the trailing 5-year period

0.38

Correlation (10Y)
Calculated over the trailing 10-year period

0.33

Correlation (All Time)
Calculated using the full available price history since Oct 9, 2003

0.27

The correlation between MMT and PFL shifts across timeframes, from 0.27 (all time) to 0.38 (5 years), reflecting how their relationship changes across market environments.

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MFS Multimarket Income Trust

PIMCO Income Strategy Fund

Often compared with MMT:
MMT vs. VGIMMT vs. EVGMMT vs. KIOMMT vs. JMMMMT vs. TQPAXMMT vs. JSVIXMMT vs. CBLDX
Often compared with PFL:
PFL vs. PFNPFL vs. PDIPFL vs. PPTPFL vs. BRWPFL vs. PCNPFL vs. RAPFL vs. EVG

Return for Risk

MMT vs. PFL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MMT
MMT Risk / Return Rank: 1010
Overall Rank
MMT Sharpe Ratio Rank: 99
Sharpe Ratio Rank
MMT Sortino Ratio Rank: 99
Sortino Ratio Rank
MMT Omega Ratio Rank: 99
Omega Ratio Rank
MMT Calmar Ratio Rank: 1313
Calmar Ratio Rank
MMT Martin Ratio Rank: 1111
Martin Ratio Rank
PFL
PFL Risk / Return Rank: 55
Overall Rank
PFL Sharpe Ratio Rank: 55
Sharpe Ratio Rank
PFL Sortino Ratio Rank: 55
Sortino Ratio Rank
PFL Omega Ratio Rank: 55
Omega Ratio Rank
PFL Calmar Ratio Rank: 55
Calmar Ratio Rank
PFL Martin Ratio Rank: 55
Martin Ratio Rank
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.

MMT vs. PFL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Multimarket Income Trust (MMT) and PIMCO Income Strategy Fund (PFL). 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.

MMTPFLDifference
Sharpe ratioReturn per unit of total volatility
0.70
0.33

+0.37

Sortino ratioReturn per unit of downside risk
1.07
0.51

+0.56

Omega ratioGain probability vs. loss probability

1.13

1.08

+0.05

Calmar ratioReturn relative to maximum drawdown

1.14

0.39

+0.75

Martin ratioReturn relative to average drawdown

2.88

1.15

+1.73

MMT vs. PFL - Sharpe Ratio Comparison

The current MMT Sharpe Ratio is 0.70, which is higher than the PFL Sharpe Ratio of 0.33. The chart below compares the historical Sharpe Ratios of MMT and PFL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

MMT vs. PFL - Drawdown Comparison

The maximum MMT drawdown since its inception was -35.70%, smaller than the maximum PFL drawdown of -77.97%. Use the drawdown chart below to compare losses from any high point for MMT and PFL.

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Drawdown Indicators

MMTPFLDifference

Max Drawdown

Largest peak-to-trough decline

-35.70%

-77.97%

+42.27%

Max Drawdown (1Y)

Largest decline over 1 year

-5.43%

-7.64%

+2.21%

Max Drawdown (3Y)

Largest decline over 3 years

-8.23%

-13.21%

+4.98%

Max Drawdown (5Y)

Largest decline over 5 years

-32.29%

-33.30%

+1.01%

Max Drawdown (10Y)

Largest decline over 10 years

-35.70%

-48.40%

+12.70%

Current Drawdown

Current decline from peak

-2.79%

-6.46%

+3.67%

Average Drawdown

Average peak-to-trough decline

-5.25%

-10.99%

+5.74%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.15%

2.60%

-0.45%

Volatility

MMT vs. PFL - Volatility Comparison

The current volatility for MFS Multimarket Income Trust (MMT) is 2.48%, while PIMCO Income Strategy Fund (PFL) has a volatility of 2.81%. This indicates that MMT experiences smaller price fluctuations and is considered to be less risky than PFL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MMTPFLDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.48%

2.81%

-0.33%

Volatility (6M)

Calculated over the trailing 6-month period

6.93%

8.04%

-1.11%

Volatility (1Y)

Calculated over the trailing 1-year period

8.97%

9.21%

-0.24%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.62%

13.67%

-2.05%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.30%

18.35%

-4.05%

Dividends

MMT vs. PFL - Dividend Comparison

MMT's dividend yield for the trailing twelve months is around 8.96%, less than PFL's 12.90% yield.

PositionTTM20252024202320222021202020192018201720162015
MMT
MFS Multimarket Income Trust		8.96%8.65%8.65%8.65%9.38%7.86%8.07%8.16%9.86%8.83%8.71%9.05%
PFL
PIMCO Income Strategy Fund		12.90%11.59%11.66%11.57%12.04%9.53%9.44%9.11%9.94%9.25%10.22%11.09%

Frequently Asked Questions

MMT and PFL have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

PFL has higher volatility (2.81%) compared to MMT (2.48%). In terms of maximum drawdown, MMT dropped -35.70% vs PFL's -77.97%.

MMT currently has the higher Sharpe Ratio (0.70 vs 0.33), 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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