PFMIX vs. PONAX
Compare and contrast key facts about PIMCO Municipal Bond Fund (PFMIX) and PIMCO Income Fund Class A (PONAX).
PFMIX is managed by PIMCO. It was launched on Dec 30, 1997. PONAX is managed by PIMCO. It was launched on Apr 2, 2007.
Performance
PFMIX vs. PONAX - Performance Comparison
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PFMIX vs. PONAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PFMIX PIMCO Municipal Bond Fund | -0.41% | 5.70% | 3.60% | 8.04% | -11.32% | 2.55% | 5.89% | 8.67% | 1.41% | 7.47% |
PONAX PIMCO Income Fund Class A | -1.42% | 10.63% | 5.02% | 8.96% | -9.34% | 2.21% | 5.40% | 7.65% | 0.21% | 8.19% |
Returns By Period
In the year-to-date period, PFMIX achieves a -0.41% return, which is significantly higher than PONAX's -1.42% return. Over the past 10 years, PFMIX has underperformed PONAX with an annualized return of 2.85%, while PONAX has yielded a comparatively higher 4.25% annualized return.
PFMIX
- 1D
- 0.22%
- 1M
- -2.61%
- YTD
- -0.41%
- 6M
- 1.04%
- 1Y
- 4.35%
- 3Y*
- 4.72%
- 5Y*
- 1.44%
- 10Y*
- 2.85%
PONAX
- 1D
- 0.47%
- 1M
- -3.24%
- YTD
- -1.42%
- 6M
- 0.98%
- 1Y
- 5.68%
- 3Y*
- 6.79%
- 5Y*
- 3.00%
- 10Y*
- 4.25%
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PFMIX vs. PONAX - Expense Ratio Comparison
PFMIX has a 0.44% expense ratio, which is lower than PONAX's 1.02% expense ratio.
Return for Risk
PFMIX vs. PONAX — Risk / Return Rank
PFMIX
PONAX
PFMIX vs. PONAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Municipal Bond Fund (PFMIX) and PIMCO Income Fund Class A (PONAX). 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.
| PFMIX | PONAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.07 | 1.48 | -0.40 |
Sortino ratioReturn per unit of downside risk | 1.48 | 2.11 | -0.63 |
Omega ratioGain probability vs. loss probability | 1.29 | 1.28 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.11 | 1.76 | -0.64 |
Martin ratioReturn relative to average drawdown | 3.64 | 7.07 | -3.43 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PFMIX | PONAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.07 | 1.48 | -0.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.35 | 0.64 | -0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.72 | 1.03 | -0.31 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.99 | 1.47 | -0.48 |
Correlation
The correlation between PFMIX and PONAX is 0.39, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
PFMIX vs. PONAX - Dividend Comparison
PFMIX's dividend yield for the trailing twelve months is around 4.03%, less than PONAX's 5.20% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PFMIX PIMCO Municipal Bond Fund | 4.03% | 5.15% | 4.73% | 3.44% | 2.25% | 2.13% | 2.45% | 3.51% | 3.77% | 3.45% | 3.44% | 3.49% |
PONAX PIMCO Income Fund Class A | 5.20% | 5.61% | 5.86% | 5.86% | 4.66% | 3.62% | 4.48% | 5.42% | 5.24% | 4.97% | 5.13% | 7.45% |
Drawdowns
PFMIX vs. PONAX - Drawdown Comparison
The maximum PFMIX drawdown since its inception was -26.51%, which is greater than PONAX's maximum drawdown of -13.64%. Use the drawdown chart below to compare losses from any high point for PFMIX and PONAX.
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Drawdown Indicators
| PFMIX | PONAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.51% | -13.64% | -12.87% |
Max Drawdown (1Y)Largest decline over 1 year | -4.67% | -3.69% | -0.98% |
Max Drawdown (5Y)Largest decline over 5 years | -16.11% | -13.64% | -2.47% |
Max Drawdown (10Y)Largest decline over 10 years | -16.11% | -13.64% | -2.47% |
Current DrawdownCurrent decline from peak | -2.61% | -3.24% | +0.63% |
Average DrawdownAverage peak-to-trough decline | -2.43% | -1.80% | -0.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.43% | 0.92% | +0.51% |
Volatility
PFMIX vs. PONAX - Volatility Comparison
The current volatility for PIMCO Municipal Bond Fund (PFMIX) is 0.99%, while PIMCO Income Fund Class A (PONAX) has a volatility of 1.88%. This indicates that PFMIX experiences smaller price fluctuations and is considered to be less risky than PONAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFMIX | PONAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.99% | 1.88% | -0.89% |
Volatility (6M)Calculated over the trailing 6-month period | 1.76% | 2.61% | -0.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.89% | 4.24% | +0.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.12% | 4.72% | -0.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.00% | 4.16% | -0.16% |