MUSI vs. PYLD

Last updated Jun 5, 2026

MUSI (American Century Multisector Income ETF) and PYLD (PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund) are both Multisector Bonds funds. Both are actively managed. Over the past year, MUSI returned 5.62% vs 6.91% for PYLD. Their correlation of 0.82 suggests significant overlap in exposure. MUSI charges 0.36%/yr vs 0.55%/yr for PYLD.

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.

Returns By Period

In the year-to-date period, MUSI achieves a 0.76% return, which is significantly lower than PYLD's 0.98% return.

MUSI

• 1D: 0.16%
• 1M: 0.28%
• YTD: 0.76%
• 6M: 1.01%
• 1Y: 5.62%
• 3Y*: 6.36%
• 5Y*: —
• 10Y*: —

PYLD

• 1D: 0.04%
• 1M: 0.49%
• YTD: 0.98%
• 6M: 1.43%
• 1Y: 6.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MUSI vs. PYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MUSI American Century Multisector Income ETF	0.76%	8.32%	5.14%	5.40%
PYLD PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund	0.98%	9.57%	7.69%	5.60%

Correlation

The correlation between MUSI and PYLD is 0.85, 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	0.85
Correlation (All Time) Calculated using the full available price history since Jun 23, 2023	0.82

The correlation between MUSI and PYLD has been stable across timeframes, ranging from 0.82 to 0.85 - a consistent structural relationship.

MUSI vs. PYLD - Sectors Allocation Comparison

Sectors	MUSI	PYLD
Utilities	77.9%	-
Healthcare	22.1%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	100.0%
Financial Services	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-

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: 49
MUSI Sharpe Ratio Rank: 50
MUSI Sortino Ratio Rank: 54
MUSI Omega Ratio Rank: 51
MUSI Calmar Ratio Rank: 42
MUSI Martin Ratio Rank: 46

PYLD

PYLD Risk / Return Rank: 65
PYLD Sharpe Ratio Rank: 71
PYLD Sortino Ratio Rank: 75
PYLD Omega Ratio Rank: 76
PYLD Calmar Ratio Rank: 44
PYLD Martin Ratio Rank: 57

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	1.71	2.28	-0.58
Sortino ratio: Return per unit of downside risk	2.55	3.33	-0.78
Omega ratio: Gain probability vs. loss probability	1.32	1.45	-0.13
Calmar ratio: Return relative to maximum drawdown	2.03	2.14	-0.11
Martin ratio: Return relative to average drawdown	7.28	9.76	-2.48
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 1.71, which is comparable to the PYLD Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of MUSI and PYLD, 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

	MUSI	PYLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.71	2.28	-0.58
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	2.05	-1.59

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	-2.78%	-3.25%	+0.47%
Max Drawdown (3Y) Largest decline over 3 years	-4.16%	—	—
Current Drawdown Current decline from peak	-0.98%	-0.40%	-0.58%
Average Drawdown Average peak-to-trough decline	-4.22%	-0.65%	-3.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.78%	0.71%	+0.07%

Volatility

MUSI vs. PYLD - Volatility Comparison

American Century Multisector Income ETF (MUSI) and PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD) have volatilities of 1.23% and 1.24%, 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.

Volatility by Period

	MUSI	PYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.23%	1.24%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	2.60%	2.50%	+0.10%
Volatility (1Y) Calculated over the trailing 1-year period	3.34%	3.08%	+0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.84%	3.98%	+0.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.84%	3.98%	+0.86%

MUSI vs. PYLD - Expense Ratio Comparison

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

Dividends

MUSI vs. PYLD - Dividend Comparison

MUSI's dividend yield for the trailing twelve months is around 5.53%, less than PYLD's 6.29% yield.

Position	TTM	2025	2024	2023	2022	2021
MUSI American Century Multisector Income ETF	5.53%	5.74%	6.00%	5.20%	4.02%	1.62%
PYLD PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund	6.29%	6.21%	6.40%	2.72%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MUSI and PYLD in my portfolio?

MUSI and PYLD have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MUSI or PYLD?

PYLD has higher volatility (1.24%) compared to MUSI (1.23%). In terms of maximum drawdown, MUSI dropped -13.91% vs PYLD's -4.52%.

Which ETF is better, MUSI or PYLD?

On 1-year performance, PYLD leads with 6.91% vs 5.62% for MUSI. On fees, MUSI is cheaper at 0.36% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MUSI or PYLD?

Over the 1-year period, PYLD has performed better with a 6.91% return vs 5.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MUSI or PYLD?

MUSI is cheaper with a 0.36% expense ratio, compared with 0.55% for PYLD.

Which ETF pays a higher dividend yield, MUSI or PYLD?

PYLD has the higher dividend yield at 6.29%, compared with 5.53% for MUSI.

What is the main difference between MUSI and PYLD?

They also come from different issuers: American Century and PIMCO. Their fees differ too: 0.36% for MUSI and 0.55% for PYLD.

Which has better risk-adjusted returns?

PYLD currently has the higher Sharpe Ratio (2.28 vs 1.71), 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.