PAUIX vs. PIMIX

Last updated Jun 23, 2026

PAUIX (PIMCO All Asset All Authority Fund) and PIMIX (PIMCO Income Fund Institutional Class) are both mutual funds - PAUIX is a Tactical Allocation fund managed by PIMCO, while PIMIX is a Multisector Bonds fund actively managed by PIMCO. Over the past 10 years, PAUIX returned 4.77%/yr vs 4.72%/yr for PIMIX. A 0.60 correlation means they provide meaningful diversification when combined. PAUIX charges 0.21%/yr vs 0.54%/yr for PIMIX.

Performance

PAUIX vs. PIMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO All Asset All Authority Fund (PAUIX) and PIMCO Income Fund Institutional Class (PIMIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PAUIX achieves a 7.43% return, which is significantly higher than PIMIX's 1.00% return. Both investments have delivered pretty close results over the past 10 years, with PAUIX having a 4.77% annualized return and PIMIX not far behind at 4.72%.

PAUIX

• 1D: -0.14%
• 1M: 0.23%
• YTD: 7.43%
• 6M: 7.90%
• 1Y: 17.26%
• 3Y*: 8.20%
• 5Y*: 2.77%
• 10Y*: 4.77%

PIMIX

• 1D: 0.09%
• 1M: 1.19%
• YTD: 1.00%
• 6M: 1.60%
• 1Y: 7.88%
• 3Y*: 7.73%
• 5Y*: 3.58%
• 10Y*: 4.72%

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

PAUIX vs. PIMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PAUIX PIMCO All Asset All Authority Fund	7.43%	14.15%	1.06%	6.35%	-15.65%	15.55%	4.58%	7.62%	-6.14%	12.05%
PIMIX PIMCO Income Fund Institutional Class	1.00%	11.08%	5.45%	9.36%	-9.07%	2.62%	5.84%	8.10%	0.63%	8.63%

Correlation

The correlation between PAUIX and PIMIX is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.62
Correlation (All Time) Calculated using the full available price history since Apr 2, 2007	0.60

The correlation between PAUIX and PIMIX shifts across timeframes, from 0.60 (all time) to 0.73 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

PAUIX vs. PIMIX — Risk / Return Rank

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

PAUIX

PAUIX Risk / Return Rank: 73
PAUIX Sharpe Ratio Rank: 85
PAUIX Sortino Ratio Rank: 82
PAUIX Omega Ratio Rank: 79
PAUIX Calmar Ratio Rank: 60
PAUIX Martin Ratio Rank: 59

PIMIX

PIMIX Risk / Return Rank: 46
PIMIX Sharpe Ratio Rank: 50
PIMIX Sortino Ratio Rank: 55
PIMIX Omega Ratio Rank: 54
PIMIX Calmar Ratio Rank: 36
PIMIX Martin Ratio Rank: 34

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.

PAUIX vs. PIMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO All Asset All Authority Fund (PAUIX) and PIMCO Income Fund Institutional Class (PIMIX). 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.

	PAUIX	PIMIX	Difference
Sharpe ratio: Return per unit of total volatility	2.55	1.91	+0.64
Sortino ratio: Return per unit of downside risk	3.57	2.85	+0.72
Omega ratio: Gain probability vs. loss probability	1.47	1.37	+0.10
Calmar ratio: Return relative to maximum drawdown	2.85	2.15	+0.70
Martin ratio: Return relative to average drawdown	10.99	7.27	+3.72

PAUIX vs. PIMIX - Sharpe Ratio Comparison

The current PAUIX Sharpe Ratio is 2.55, which is higher than the PIMIX Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of PAUIX and PIMIX, 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

PAUIX vs. PIMIX - Drawdown Comparison

The maximum PAUIX drawdown since its inception was -26.84%, which is greater than PIMIX's maximum drawdown of -13.39%. Use the drawdown chart below to compare losses from any high point for PAUIX and PIMIX.

Drawdown Indicators

	PAUIX	PIMIX	Difference
Max Drawdown Largest peak-to-trough decline	-26.84%	-13.39%	-13.45%
Max Drawdown (1Y) Largest decline over 1 year	-6.05%	-3.69%	-2.36%
Max Drawdown (3Y) Largest decline over 3 years	-8.54%	-3.84%	-4.70%
Max Drawdown (5Y) Largest decline over 5 years	-26.15%	-13.34%	-12.81%
Max Drawdown (10Y) Largest decline over 10 years	-26.84%	-13.39%	-13.45%
Current Drawdown Current decline from peak	-1.10%	-0.93%	-0.17%
Average Drawdown Average peak-to-trough decline	-5.90%	-1.69%	-4.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.56%	1.09%	+0.47%

Volatility

PAUIX vs. PIMIX - Volatility Comparison

PIMCO All Asset All Authority Fund (PAUIX) has a higher volatility of 2.19% compared to PIMCO Income Fund Institutional Class (PIMIX) at 1.42%. This indicates that PAUIX's price experiences larger fluctuations and is considered to be riskier than PIMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAUIX	PIMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.19%	1.42%	+0.77%
Volatility (6M) Calculated over the trailing 6-month period	5.37%	3.39%	+1.98%
Volatility (1Y) Calculated over the trailing 1-year period	6.76%	4.17%	+2.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.62%	4.86%	+4.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.98%	4.26%	+4.72%

PAUIX vs. PIMIX - Expense Ratio Comparison

PAUIX has a 0.21% expense ratio, which is lower than PIMIX's 0.54% expense ratio.

Dividends

PAUIX vs. PIMIX - Dividend Comparison

PAUIX's dividend yield for the trailing twelve months is around 8.15%, more than PIMIX's 5.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PAUIX PIMCO All Asset All Authority Fund	8.15%	6.10%	2.64%	3.97%	9.98%	15.46%	4.47%	2.89%	5.74%	5.28%	3.62%	5.54%
PIMIX PIMCO Income Fund Institutional Class	5.83%	6.01%	6.27%	6.21%	4.98%	4.02%	4.88%	5.83%	5.66%	5.37%	5.52%	7.88%

Frequently Asked Questions

Can I hold both PAUIX and PIMIX in my portfolio?

PAUIX and PIMIX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PAUIX or PIMIX?

PAUIX has higher volatility (2.19%) compared to PIMIX (1.42%). In terms of maximum drawdown, PAUIX dropped -26.84% vs PIMIX's -13.39%.

Which has better risk-adjusted returns?

PAUIX currently has the higher Sharpe Ratio (2.55 vs 1.91), 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.