OWNYX vs. FXIEX

Last updated Aug 4, 2026

OWNYX (Old Westbury New York Municipal Bond Fund) and FXIEX (PIMCO Fixed Income SHares: Series TE) are both Municipal Bonds funds. Over the past 5 years, OWNYX returned 0.52%/yr vs 1.21%/yr for FXIEX. Their 0.74 correlation means they have sometimes moved together and sometimes differently. OWNYX charges 0.57%/yr vs 0.07%/yr for FXIEX.

Performance

OWNYX vs. FXIEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Old Westbury New York Municipal Bond Fund (OWNYX) and PIMCO Fixed Income SHares: Series TE (FXIEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OWNYX achieves a -0.65% return, which is significantly lower than FXIEX's 0.76% return.

OWNYX

• 1D: -0.10%
• 1M: -1.31%
• 6M: -1.34%
• YTD: -0.65%
• 1Y: 2.21%
• 3Y*: 2.42%
• 5Y*: 0.52%
• 10Y*: —
• ALL TIME*: 1.61%

FXIEX

• 1D: -0.21%
• 1M: -1.82%
• 6M: 0.25%
• YTD: 0.76%
• 1Y: 5.35%
• 3Y*: 4.48%
• 5Y*: 1.21%
• 10Y*: 2.70%
• ALL TIME*: 2.10%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FXIEX PIMCO Fixed Income SHares: Series TE	$0.00	$0.00	$0.00
OWNYX Old Westbury New York Municipal Bond Fund	$0.00	$0.00	$0.00

OWNYX vs. FXIEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
OWNYX Old Westbury New York Municipal Bond Fund	-0.65%	4.64%	0.45%	4.24%	-5.03%	-0.31%	3.74%	4.95%	0.68%
FXIEX PIMCO Fixed Income SHares: Series TE	0.76%	3.37%	5.16%	8.92%	-10.89%	2.19%	7.22%	8.45%	0.63%

Correlation

The correlation between OWNYX and FXIEX is 0.76, 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.	0.76
Correlation (3Y) Balances recent behavior with more history.	0.77
Correlation (5Y) Shows whether the relationship held over a longer period.	0.77
Correlation (All Time) Calculated using the full available price history since Dec 3, 2018	0.74

The correlation between OWNYX and FXIEX has been stable across timeframes, ranging from 0.74 to 0.77 - a consistent structural relationship.

Return for Risk

OWNYX vs. FXIEX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

OWNYX

OWNYX Risk / Return Rank: 33
OWNYX Sharpe Ratio Rank: 36
OWNYX Sortino Ratio Rank: 34
OWNYX Omega Ratio Rank: 56
OWNYX Calmar Ratio Rank: 21
OWNYX Martin Ratio Rank: 17

FXIEX

FXIEX Risk / Return Rank: 80
FXIEX Sharpe Ratio Rank: 80
FXIEX Sortino Ratio Rank: 87
FXIEX Omega Ratio Rank: 88
FXIEX Calmar Ratio Rank: 79
FXIEX Martin Ratio Rank: 67

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

OWNYX vs. FXIEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Old Westbury New York Municipal Bond Fund (OWNYX) and PIMCO Fixed Income SHares: Series TE (FXIEX). 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.

	OWNYX	FXIEX	Difference
Sharpe ratio: Return per unit of total volatility	1.23	1.94	-0.71
Sortino ratio: Return per unit of downside risk	1.73	3.22	-1.49
Omega ratio: Gain probability vs. loss probability	1.29	1.46	-0.17
Calmar ratio: Return relative to maximum drawdown	1.05	2.70	-1.65
Martin ratio: Return relative to average drawdown	2.51	8.90	-6.39

OWNYX vs. FXIEX - Sharpe Ratio Comparison

The current OWNYX Sharpe Ratio is 1.23, which is lower than the FXIEX Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of OWNYX and FXIEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

OWNYX vs. FXIEX - Drawdown Comparison

The maximum OWNYX drawdown since its inception was -8.98%, smaller than the maximum FXIEX drawdown of -15.25%. Use the drawdown chart below to compare losses from any high point for OWNYX and FXIEX.

Drawdown Indicators

	OWNYX	FXIEX	Difference
Max Drawdown Largest peak-to-trough decline	-8.98%	-15.25%	+6.27%
Max Drawdown (1Y) Largest decline over 1 year	-2.32%	-2.42%	+0.10%
Max Drawdown (3Y) Largest decline over 3 years	-3.14%	-5.56%	+2.42%
Max Drawdown (5Y) Largest decline over 5 years	-8.89%	-15.25%	+6.36%
Max Drawdown (10Y) Largest decline over 10 years	—	-15.25%	—
Current Drawdown Current decline from peak	-2.22%	-1.82%	-0.40%
Average Drawdown Average peak-to-trough decline	-2.08%	-2.87%	+0.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	0.75%	+0.18%

Volatility

OWNYX vs. FXIEX - Volatility Comparison

The current volatility for Old Westbury New York Municipal Bond Fund (OWNYX) is 0.67%, while PIMCO Fixed Income SHares: Series TE (FXIEX) has a volatility of 0.84%. This indicates that OWNYX experiences smaller price fluctuations and is considered to be less risky than FXIEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OWNYX	FXIEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.67%	0.84%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	1.53%	2.37%	-0.84%
Volatility (1Y) Calculated over the trailing 1-year period	1.99%	3.44%	-1.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.08%	4.39%	-1.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.27%	4.10%	-0.83%

OWNYX vs. FXIEX - Expense Ratio Comparison

OWNYX has a 0.57% expense ratio, which is higher than FXIEX's 0.07% expense ratio.

Dividends

OWNYX vs. FXIEX - Dividend Comparison

OWNYX's dividend yield for the trailing twelve months is around 2.44%, more than FXIEX's 2.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FXIEX PIMCO Fixed Income SHares: Series TE	2.41%	2.75%	4.53%	3.98%	3.25%	2.63%	3.37%	3.63%	3.79%	2.67%
OWNYX Old Westbury New York Municipal Bond Fund	2.44%	2.88%	2.40%	1.99%	1.29%	1.41%	1.76%	1.60%	0.08%	0.00%

Frequently Asked Questions

Can I hold both OWNYX and FXIEX in my portfolio?

OWNYX and FXIEX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OWNYX or FXIEX?

FXIEX has higher volatility (0.84%) compared to OWNYX (0.67%). In terms of maximum drawdown, OWNYX dropped -8.98% vs FXIEX's -15.25%.

Which has better risk-adjusted returns?

FXIEX currently has the higher Sharpe Ratio (1.94 vs 1.23), 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.