PFIIX vs. AVEM

Last updated Jun 12, 2026

PFIIX (PIMCO Low Duration Income Fund) and AVEM (Avantis Emerging Markets Equity ETF) are both funds - PFIIX is a Short-Term Bond fund managed by PIMCO, while AVEM is a Emerging Markets Equities fund actively managed by Avantis. Over the past 5 years, PFIIX returned 3.98%/yr vs 9.57%/yr for AVEM. At a 0.41 correlation, their price movements are largely independent. PFIIX charges 0.50%/yr vs 0.33%/yr for AVEM.

Performance

PFIIX vs. AVEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Low Duration Income Fund (PFIIX) and Avantis Emerging Markets Equity ETF (AVEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PFIIX achieves a 1.10% return, which is significantly lower than AVEM's 24.56% return.

PFIIX

• 1D: 0.00%
• 1M: 0.28%
• YTD: 1.10%
• 6M: 1.56%
• 1Y: 6.73%
• 3Y*: 7.37%
• 5Y*: 3.98%
• 10Y*: 4.78%

AVEM

• 1D: 4.59%
• 1M: 2.95%
• YTD: 24.56%
• 6M: 25.81%
• 1Y: 45.40%
• 3Y*: 24.22%
• 5Y*: 9.57%
• 10Y*: —

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

PFIIX vs. AVEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
PFIIX PIMCO Low Duration Income Fund	1.10%	9.56%	6.58%	7.78%	-5.29%	2.38%	4.84%	2.40%
AVEM Avantis Emerging Markets Equity ETF	24.56%	34.48%	7.49%	15.30%	-18.15%	5.16%	14.39%	10.40%

Correlation

The correlation between PFIIX and AVEM is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (All Time) Calculated using the full available price history since Sep 19, 2019	0.41

The correlation between PFIIX and AVEM shifts across timeframes, from 0.31 (3 years) to 0.43 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

PFIIX vs. AVEM — Risk / Return Rank

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

PFIIX

PFIIX Risk / Return Rank: 87
PFIIX Sharpe Ratio Rank: 87
PFIIX Sortino Ratio Rank: 91
PFIIX Omega Ratio Rank: 90
PFIIX Calmar Ratio Rank: 81
PFIIX Martin Ratio Rank: 86

AVEM

AVEM Risk / Return Rank: 80
AVEM Sharpe Ratio Rank: 81
AVEM Sortino Ratio Rank: 76
AVEM Omega Ratio Rank: 82
AVEM Calmar Ratio Rank: 80
AVEM Martin Ratio Rank: 81

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.

PFIIX vs. AVEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Low Duration Income Fund (PFIIX) and Avantis Emerging Markets Equity ETF (AVEM). 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.

	PFIIX	AVEM	Difference
Sharpe ratio: Return per unit of total volatility	2.55	2.15	+0.39
Sortino ratio: Return per unit of downside risk	4.17	2.79	+1.38
Omega ratio: Gain probability vs. loss probability	1.61	1.40	+0.21
Calmar ratio: Return relative to maximum drawdown	3.27	3.47	-0.21
Martin ratio: Return relative to average drawdown	13.92	13.23	+0.69

PFIIX vs. AVEM - Sharpe Ratio Comparison

The current PFIIX Sharpe Ratio is 2.55, which is comparable to the AVEM Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of PFIIX and AVEM, 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

PFIIX vs. AVEM - Drawdown Comparison

The maximum PFIIX drawdown since its inception was -28.35%, smaller than the maximum AVEM drawdown of -36.05%. Use the drawdown chart below to compare losses from any high point for PFIIX and AVEM.

Drawdown Indicators

	PFIIX	AVEM	Difference
Max Drawdown Largest peak-to-trough decline	-28.35%	-36.05%	+7.70%
Max Drawdown (1Y) Largest decline over 1 year	-2.16%	-13.13%	+10.97%
Max Drawdown (3Y) Largest decline over 3 years	-2.23%	-18.02%	+15.79%
Max Drawdown (5Y) Largest decline over 5 years	-8.84%	-33.88%	+25.04%
Max Drawdown (10Y) Largest decline over 10 years	-11.72%	—	—
Current Drawdown Current decline from peak	-0.36%	-3.73%	+3.37%
Average Drawdown Average peak-to-trough decline	-2.60%	-10.08%	+7.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.50%	3.44%	-2.94%

Volatility

PFIIX vs. AVEM - Volatility Comparison

The current volatility for PIMCO Low Duration Income Fund (PFIIX) is 1.03%, while Avantis Emerging Markets Equity ETF (AVEM) has a volatility of 11.06%. This indicates that PFIIX experiences smaller price fluctuations and is considered to be less risky than AVEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PFIIX	AVEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.03%	11.06%	-10.03%
Volatility (6M) Calculated over the trailing 6-month period	2.20%	18.80%	-16.60%
Volatility (1Y) Calculated over the trailing 1-year period	2.77%	21.17%	-18.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.18%	18.71%	-15.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.17%	20.77%	-17.60%

PFIIX vs. AVEM - Expense Ratio Comparison

PFIIX has a 0.50% expense ratio, which is higher than AVEM's 0.33% expense ratio.

Dividends

PFIIX vs. AVEM - Dividend Comparison

PFIIX's dividend yield for the trailing twelve months is around 5.29%, more than AVEM's 2.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVEM Avantis Emerging Markets Equity ETF	2.60%	2.45%	3.17%	3.06%	2.77%	2.61%	1.60%	0.35%	0.00%	0.00%	0.00%	0.00%
PFIIX PIMCO Low Duration Income Fund	5.29%	5.49%	5.37%	4.97%	5.35%	3.06%	3.44%	4.74%	3.22%	3.13%	3.75%	5.36%

Frequently Asked Questions

Can I hold both PFIIX and AVEM in my portfolio?

PFIIX and AVEM have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PFIIX or AVEM?

AVEM has higher volatility (11.06%) compared to PFIIX (1.03%). In terms of maximum drawdown, PFIIX dropped -28.35% vs AVEM's -36.05%.

Which has better risk-adjusted returns?

PFIIX currently has the higher Sharpe Ratio (2.55 vs 2.15), 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.