PFIIX vs. PIMIX

Last updated Jun 4, 2026

PFIIX (PIMCO Low Duration Income Fund) and PIMIX (PIMCO Income Fund Institutional Class) are both mutual funds - PFIIX is a Short-Term Bond fund managed by PIMCO, while PIMIX is a Total Bond Market fund managed by PIMCO. Over the past 10 years, PFIIX returned 4.86%/yr vs 4.71%/yr for PIMIX. At a 0.43 correlation, their price movements are largely independent. PFIIX charges 0.50%/yr vs 0.62%/yr for PIMIX.

Performance

PFIIX vs. PIMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Low Duration Income Fund (PFIIX) 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, PFIIX achieves a 1.46% return, which is significantly higher than PIMIX's 1.00% return. Both investments have delivered pretty close results over the past 10 years, with PFIIX having a 4.86% annualized return and PIMIX not far behind at 4.71%.

PFIIX

• 1D: 0.12%
• 1M: 0.77%
• YTD: 1.46%
• 6M: 1.81%
• 1Y: 7.51%
• 3Y*: 7.59%
• 5Y*: 4.08%
• 10Y*: 4.86%

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)

PFIIX vs. PIMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PFIIX PIMCO Low Duration Income Fund	1.46%	9.56%	6.58%	7.78%	-5.29%	2.38%	4.84%	6.72%	1.56%	6.05%
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 PFIIX and PIMIX is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Apr 3, 2007	0.43

Over the past year, PFIIX and PIMIX have become more correlated (0.88) than their long-term average of 0.43, meaning their price movements have been converging.

Return for Risk

PFIIX vs. PIMIX — Risk / Return Rank

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

PFIIX

PFIIX Risk / Return Rank: 86
PFIIX Sharpe Ratio Rank: 86
PFIIX Sortino Ratio Rank: 92
PFIIX Omega Ratio Rank: 92
PFIIX Calmar Ratio Rank: 79
PFIIX 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.

PFIIX vs. PIMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Low Duration Income Fund (PFIIX) 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.

	PFIIX	PIMIX	Difference
Sharpe ratio: Return per unit of total volatility	2.79	2.04	+0.75
Sortino ratio: Return per unit of downside risk	4.60	3.07	+1.53
Omega ratio: Gain probability vs. loss probability	1.68	1.40	+0.28
Calmar ratio: Return relative to maximum drawdown	3.57	2.29	+1.28
Martin ratio: Return relative to average drawdown	15.28	7.97	+7.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PFIIX vs. PIMIX - Sharpe Ratio Comparison

The current PFIIX Sharpe Ratio is 2.79, which is higher than the PIMIX Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of PFIIX 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

	PFIIX	PIMIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.79	2.04	+0.75
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.29	0.73	+0.56
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.54	1.11	+0.43
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	1.57	-0.64

Drawdowns

PFIIX vs. PIMIX - Drawdown Comparison

The maximum PFIIX drawdown since its inception was -28.35%, which is greater than PIMIX's maximum drawdown of -13.39%. Use the drawdown chart below to compare losses from any high point for PFIIX and PIMIX.

Drawdown Indicators

	PFIIX	PIMIX	Difference
Max Drawdown Largest peak-to-trough decline	-28.35%	-13.39%	-14.96%
Max Drawdown (1Y) Largest decline over 1 year	-2.16%	-3.69%	+1.53%
Max Drawdown (3Y) Largest decline over 3 years	-2.23%	-3.84%	+1.61%
Max Drawdown (5Y) Largest decline over 5 years	-8.84%	-13.34%	+4.50%
Max Drawdown (10Y) Largest decline over 10 years	-11.72%	-13.39%	+1.67%
Current Drawdown Current decline from peak	0.00%	-0.93%	+0.93%
Average Drawdown Average peak-to-trough decline	-2.60%	-1.69%	-0.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.50%	1.06%	-0.56%

Volatility

PFIIX vs. PIMIX - Volatility Comparison

The current volatility for PIMCO Low Duration Income Fund (PFIIX) is 1.02%, while PIMCO Income Fund Institutional Class (PIMIX) has a volatility of 1.68%. This indicates that PFIIX 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.

Volatility by Period

	PFIIX	PIMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.02%	1.68%	-0.66%
Volatility (6M) Calculated over the trailing 6-month period	2.21%	3.29%	-1.08%
Volatility (1Y) Calculated over the trailing 1-year period	2.77%	4.15%	-1.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.17%	4.84%	-1.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.17%	4.25%	-1.08%

PFIIX vs. PIMIX - Expense Ratio Comparison

PFIIX has a 0.50% expense ratio, which is lower than PIMIX's 0.62% expense ratio.

Dividends

PFIIX vs. PIMIX - Dividend Comparison

PFIIX's dividend yield for the trailing twelve months is around 5.27%, less than PIMIX's 5.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PFIIX PIMCO Low Duration Income Fund	5.27%	5.49%	5.37%	4.97%	5.35%	3.06%	3.44%	4.74%	3.22%	3.13%	3.75%	5.36%
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 PFIIX and PIMIX in my portfolio?

PFIIX and PIMIX have a correlation of 0.88, 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 PIMIX?

PIMIX has higher volatility (1.68%) compared to PFIIX (1.02%). In terms of maximum drawdown, PFIIX dropped -28.35% vs PIMIX's -13.39%.

Which has better risk-adjusted returns?

PFIIX currently has the higher Sharpe Ratio (2.79 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.