PEBIX vs. PIMIX

Last updated Jun 4, 2026

PEBIX (PIMCO Emerging Markets Bond Fund) and PIMIX (PIMCO Income Fund Institutional Class) are both mutual funds - PEBIX is a Emerging Markets Bonds fund managed by PIMCO, while PIMIX is a Total Bond Market fund managed by PIMCO. Over the past 10 years, PEBIX returned 4.65%/yr vs 4.71%/yr for PIMIX. A 0.64 correlation means they provide meaningful diversification when combined. PEBIX charges 0.83%/yr vs 0.62%/yr for PIMIX.

Performance

PEBIX vs. PIMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Emerging Markets Bond Fund (PEBIX) 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, PEBIX achieves a 2.77% return, which is significantly higher than PIMIX's 1.00% return. Both investments have delivered pretty close results over the past 10 years, with PEBIX having a 4.65% annualized return and PIMIX not far ahead at 4.71%.

PEBIX

• 1D: 0.22%
• 1M: 1.20%
• YTD: 2.77%
• 6M: 3.23%
• 1Y: 14.56%
• 3Y*: 11.84%
• 5Y*: 3.17%
• 10Y*: 4.65%

PIMIX

• 1D: 0.18%
• 1M: 0.91%
• YTD: 1.00%
• 6M: 1.41%
• 1Y: 8.39%
• 3Y*: 7.87%
• 5Y*: 3.53%
• 10Y*: 4.71%

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

PEBIX vs. PIMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PEBIX PIMCO Emerging Markets Bond Fund	2.77%	15.48%	7.83%	11.48%	-17.48%	-2.00%	6.56%	14.91%	-4.17%	10.60%
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 PEBIX and PIMIX is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Apr 3, 2007	0.64

The correlation between PEBIX and PIMIX shifts across timeframes, from 0.64 (all time) to 0.79 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

PEBIX vs. PIMIX — Risk / Return Rank

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

PEBIX

PEBIX Risk / Return Rank: 88
PEBIX Sharpe Ratio Rank: 93
PEBIX Sortino Ratio Rank: 96
PEBIX Omega Ratio Rank: 91
PEBIX Calmar Ratio Rank: 78
PEBIX Martin Ratio Rank: 81

PIMIX

PIMIX Risk / Return Rank: 45
PIMIX Sharpe Ratio Rank: 48
PIMIX Sortino Ratio Rank: 53
PIMIX Omega Ratio Rank: 52
PIMIX Calmar Ratio Rank: 37
PIMIX Martin Ratio Rank: 36

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.

PEBIX vs. PIMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Emerging Markets Bond Fund (PEBIX) 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.

	PEBIX	PIMIX	Difference
Sharpe ratio Return per unit of total volatility	3.20	2.04	+1.16
Sortino ratio Return per unit of downside risk	5.30	3.07	+2.23
Omega ratio Gain probability vs. loss probability	1.66	1.40	+0.27
Calmar ratio Return relative to maximum drawdown	3.54	2.29	+1.25
Martin ratio Return relative to average drawdown	15.16	7.97	+7.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PEBIX vs. PIMIX - Sharpe Ratio Comparison

The current PEBIX Sharpe Ratio is 3.20, which is higher than the PIMIX Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of PEBIX 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.

Sharpe Ratios by Period

	PEBIX	PIMIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.20	2.04	+1.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.73	-0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	1.11	-0.38
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	1.57	-0.67

Drawdowns

PEBIX vs. PIMIX - Drawdown Comparison

The maximum PEBIX drawdown since its inception was -35.49%, which is greater than PIMIX's maximum drawdown of -13.39%. Use the drawdown chart below to compare losses from any high point for PEBIX and PIMIX.

Drawdown Indicators

	PEBIX	PIMIX	Difference
Max Drawdown Largest peak-to-trough decline	-35.49%	-13.39%	-22.10%
Max Drawdown (1Y) Largest decline over 1 year	-4.23%	-3.69%	-0.54%
Max Drawdown (3Y) Largest decline over 3 years	-6.31%	-3.84%	-2.47%
Max Drawdown (5Y) Largest decline over 5 years	-28.10%	-13.34%	-14.76%
Max Drawdown (10Y) Largest decline over 10 years	-28.10%	-13.39%	-14.71%
Current Drawdown Current decline from peak	0.00%	-0.93%	+0.93%
Average Drawdown Average peak-to-trough decline	-4.69%	-1.69%	-3.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.98%	1.06%	-0.08%

Volatility

PEBIX vs. PIMIX - Volatility Comparison

PIMCO Emerging Markets Bond Fund (PEBIX) and PIMCO Income Fund Institutional Class (PIMIX) have volatilities of 1.72% and 1.68%, 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

	PEBIX	PIMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.72%	1.68%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	3.79%	3.29%	+0.50%
Volatility (1Y) Calculated over the trailing 1-year period	4.68%	4.15%	+0.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.36%	4.84%	+1.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.38%	4.25%	+2.13%

PEBIX vs. PIMIX - Expense Ratio Comparison

PEBIX has a 0.83% expense ratio, which is higher than PIMIX's 0.62% expense ratio.

Dividends

PEBIX vs. PIMIX - Dividend Comparison

PEBIX's dividend yield for the trailing twelve months is around 6.43%, more than PIMIX's 5.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PEBIX PIMCO Emerging Markets Bond Fund	6.43%	6.68%	6.81%	5.36%	6.21%	4.41%	4.23%	4.47%	4.41%	5.10%	5.57%	6.08%
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 PEBIX and PIMIX in my portfolio?

PEBIX and PIMIX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PEBIX or PIMIX?

PEBIX has higher volatility (1.72%) compared to PIMIX (1.68%). In terms of maximum drawdown, PEBIX dropped -35.49% vs PIMIX's -13.39%.

Which has better risk-adjusted returns?

PEBIX currently has the higher Sharpe Ratio (3.20 vs 2.04), 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.