PDVAX vs. PIMIX
PDVAX (PIMCO Diversified Income Fund Class A) and PIMIX (PIMCO Income Fund Institutional Class) are both Multisector Bonds funds from PIMCO. Both are actively managed. Over the past 10 years, PDVAX returned 3.87%/yr vs 4.72%/yr for PIMIX. A 0.76 correlation means they provide meaningful diversification when combined. PDVAX charges 1.21%/yr vs 0.54%/yr for PIMIX.
Performance
PDVAX vs. PIMIX - Performance Comparison
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Returns By Period
In the year-to-date period, PDVAX achieves a 1.58% return, which is significantly higher than PIMIX's 1.00% return. Over the past 10 years, PDVAX has underperformed PIMIX with an annualized return of 3.87%, while PIMIX has yielded a comparatively higher 4.72% annualized return.
PDVAX
- 1D
- 0.10%
- 1M
- 1.45%
- YTD
- 1.58%
- 6M
- 2.22%
- 1Y
- 8.30%
- 3Y*
- 8.08%
- 5Y*
- 2.01%
- 10Y*
- 3.87%
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%
PDVAX vs. PIMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PDVAX PIMCO Diversified Income Fund Class A | 1.58% | 9.98% | 5.93% | 9.55% | -14.97% | -0.06% | 5.98% | 12.59% | -1.37% | 8.43% |
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 PDVAX and PIMIX is 0.90, 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 | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2007 | 0.76 |
The correlation between PDVAX and PIMIX shifts across timeframes, from 0.76 (all time) to 0.90 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PDVAX vs. PIMIX — Risk / Return Rank
PDVAX
PIMIX
PDVAX vs. PIMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Diversified Income Fund Class A (PDVAX) 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.
| PDVAX | PIMIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.56 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.37 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.36 | 2.15 | +0.21 |
| Martin ratioReturn relative to average drawdown | 9.47 | 7.27 | +2.20 |
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Drawdowns
PDVAX vs. PIMIX - Drawdown Comparison
The maximum PDVAX drawdown since its inception was -22.13%, which is greater than PIMIX's maximum drawdown of -13.39%. Use the drawdown chart below to compare losses from any high point for PDVAX and PIMIX.
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Drawdown Indicators
| PDVAX | PIMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.13% | -13.39% | -8.74% |
Max Drawdown (1Y)Largest decline over 1 year | -3.55% | -3.69% | +0.14% |
Max Drawdown (3Y)Largest decline over 3 years | -4.34% | -3.84% | -0.50% |
Max Drawdown (5Y)Largest decline over 5 years | -20.85% | -13.34% | -7.51% |
Max Drawdown (10Y)Largest decline over 10 years | -20.85% | -13.39% | -7.46% |
Current DrawdownCurrent decline from peak | -0.20% | -0.93% | +0.73% |
Average DrawdownAverage peak-to-trough decline | -2.98% | -1.69% | -1.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 1.09% | -0.21% |
Volatility
PDVAX vs. PIMIX - Volatility Comparison
The current volatility for PIMCO Diversified Income Fund Class A (PDVAX) is 1.21%, while PIMCO Income Fund Institutional Class (PIMIX) has a volatility of 1.42%. This indicates that PDVAX experiences smaller price fluctuations and is considered to be less risky than PIMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PDVAX | PIMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.21% | 1.42% | -0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 3.17% | 3.39% | -0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.82% | 4.17% | -0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.97% | 4.86% | +0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.86% | 4.26% | +0.60% |
PDVAX vs. PIMIX - Expense Ratio Comparison
PDVAX has a 1.21% expense ratio, which is higher than PIMIX's 0.54% expense ratio.
Dividends
PDVAX vs. PIMIX - Dividend Comparison
PDVAX's dividend yield for the trailing twelve months is around 5.11%, less than PIMIX's 5.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PDVAX PIMCO Diversified Income Fund Class A | 5.11% | 5.03% | 4.79% | 3.92% | 3.56% | 3.17% | 3.28% | 4.65% | 4.05% | 4.45% | 4.55% | 7.25% |
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
PDVAX and PIMIX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PIMIX has higher volatility (1.42%) compared to PDVAX (1.21%). In terms of maximum drawdown, PDVAX dropped -22.13% vs PIMIX's -13.39%.
PDVAX currently has the higher Sharpe Ratio (2.19 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.
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