MUSI vs. PYLD

Last updated Apr 1, 2026

Compare and contrast key facts about American Century Multisector Income ETF (MUSI) and PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD).

MUSI and PYLD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MUSI is an actively managed fund by American Century. It was launched on Jun 29, 2021. PYLD is an actively managed fund by PIMCO. It was launched on Jun 21, 2023.

Performance

MUSI vs. PYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century Multisector Income ETF (MUSI) and PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD). The values are adjusted to include any dividend payments, if applicable.

MUSI vs. PYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MUSI American Century Multisector Income ETF	-0.07%	8.32%	5.14%	5.40%
PYLD PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund	-0.92%	9.57%	7.69%	5.60%

Returns By Period

In the year-to-date period, MUSI achieves a -0.07% return, which is significantly higher than PYLD's -0.92% return.

MUSI

• 1D: 0.60%
• 1M: -1.80%
• YTD: -0.07%
• 6M: 1.26%
• 1Y: 5.87%
• 3Y*: 5.93%
• 5Y*: —
• 10Y*: —

PYLD

• 1D: 0.50%
• 1M: -2.28%
• YTD: -0.92%
• 6M: 0.90%
• 1Y: 5.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MUSI vs. PYLD - Expense Ratio Comparison

MUSI has a 0.36% expense ratio, which is lower than PYLD's 0.55% expense ratio.

PYLD

PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund

MUSI

American Century Multisector Income ETF

Return for Risk

MUSI vs. PYLD — Risk / Return Rank

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

MUSI

MUSI Risk / Return Rank: 75
MUSI Sharpe Ratio Rank: 75
MUSI Sortino Ratio Rank: 70
MUSI Omega Ratio Rank: 77
MUSI Calmar Ratio Rank: 75
MUSI Martin Ratio Rank: 76

PYLD

PYLD Risk / Return Rank: 83
PYLD Sharpe Ratio Rank: 87
PYLD Sortino Ratio Rank: 89
PYLD Omega Ratio Rank: 87
PYLD Calmar Ratio Rank: 75
PYLD Martin Ratio Rank: 76

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.

MUSI vs. PYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century Multisector Income ETF (MUSI) and PIMCO ETF Trust - 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.

	MUSI	PYLD	Difference
Sharpe ratio Return per unit of total volatility	1.35	1.72	-0.36
Sortino ratio Return per unit of downside risk	1.77	2.39	-0.62
Omega ratio Gain probability vs. loss probability	1.29	1.34	-0.05
Calmar ratio Return relative to maximum drawdown	1.98	1.84	+0.14
Martin ratio Return relative to average drawdown	8.07	7.60	+0.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MUSI vs. PYLD - Sharpe Ratio Comparison

The current MUSI Sharpe Ratio is 1.35, which is comparable to the PYLD Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of MUSI and PYLD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MUSI	PYLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.35	1.72	-0.36
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	1.99	-1.56

Correlation

The correlation between MUSI and PYLD is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

MUSI vs. PYLD - Dividend Comparison

MUSI's dividend yield for the trailing twelve months is around 5.74%, less than PYLD's 6.36% yield.

	TTM	2025	2024	2023	2022	2021
MUSI American Century Multisector Income ETF	5.74%	5.74%	6.00%	5.20%	4.02%	1.62%
PYLD PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund	6.36%	6.21%	6.40%	2.72%	0.00%	0.00%

Drawdowns

MUSI vs. PYLD - Drawdown Comparison

The maximum MUSI drawdown since its inception was -13.91%, which is greater than PYLD's maximum drawdown of -4.52%. Use the drawdown chart below to compare losses from any high point for MUSI and PYLD.

Drawdown Indicators

	MUSI	PYLD	Difference
Max Drawdown Largest peak-to-trough decline	-13.91%	-4.52%	-9.39%
Max Drawdown (1Y) Largest decline over 1 year	-2.99%	-3.25%	+0.26%
Current Drawdown Current decline from peak	-1.80%	-2.28%	+0.48%
Average Drawdown Average peak-to-trough decline	-4.33%	-0.64%	-3.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.74%	0.79%	-0.05%

Volatility

MUSI vs. PYLD - Volatility Comparison

American Century Multisector Income ETF (MUSI) has a higher volatility of 1.70% compared to PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD) at 1.61%. This indicates that MUSI's price experiences larger fluctuations and is considered to be riskier than PYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MUSI	PYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.70%	1.61%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	2.27%	2.12%	+0.15%
Volatility (1Y) Calculated over the trailing 1-year period	4.35%	3.43%	+0.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.88%	4.00%	+0.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.88%	4.00%	+0.88%