PHMIX vs. PONAX
Compare and contrast key facts about PIMCO High Yield Municipal Bond Fund (PHMIX) and PIMCO Income Fund Class A (PONAX).
PHMIX is managed by PIMCO. It was launched on Jul 30, 2006. PONAX is managed by PIMCO. It was launched on Apr 2, 2007.
Performance
PHMIX vs. PONAX - Performance Comparison
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PHMIX vs. PONAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PHMIX PIMCO High Yield Municipal Bond Fund | -0.32% | 5.00% | 5.33% | 8.97% | -13.90% | 5.51% | 6.21% | 10.77% | 2.28% | 9.83% |
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, PHMIX achieves a -0.32% return, which is significantly higher than PONAX's -1.42% return. Over the past 10 years, PHMIX has underperformed PONAX with an annualized return of 3.66%, while PONAX has yielded a comparatively higher 4.25% annualized return.
PHMIX
- 1D
- 0.24%
- 1M
- -2.70%
- YTD
- -0.32%
- 6M
- 0.87%
- 1Y
- 3.34%
- 3Y*
- 5.33%
- 5Y*
- 1.59%
- 10Y*
- 3.66%
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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PHMIX vs. PONAX - Expense Ratio Comparison
PHMIX has a 0.55% expense ratio, which is lower than PONAX's 1.02% expense ratio.
Return for Risk
PHMIX vs. PONAX — Risk / Return Rank
PHMIX
PONAX
PHMIX vs. PONAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO High Yield Municipal Bond Fund (PHMIX) 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.
| PHMIX | PONAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.74 | 1.48 | -0.74 |
Sortino ratioReturn per unit of downside risk | 1.01 | 2.11 | -1.09 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.28 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 0.79 | 1.76 | -0.96 |
Martin ratioReturn relative to average drawdown | 2.27 | 7.07 | -4.80 |
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
| PHMIX | PONAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.74 | 1.48 | -0.74 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | 0.64 | -0.31 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.79 | 1.03 | -0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.85 | 1.47 | -0.62 |
Correlation
The correlation between PHMIX 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
PHMIX vs. PONAX - Dividend Comparison
PHMIX's dividend yield for the trailing twelve months is around 4.60%, less than PONAX's 5.20% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PHMIX PIMCO High Yield Municipal Bond Fund | 4.60% | 5.91% | 5.33% | 4.71% | 3.39% | 3.84% | 3.62% | 4.38% | 4.41% | 4.22% | 4.12% | 4.46% |
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
PHMIX vs. PONAX - Drawdown Comparison
The maximum PHMIX drawdown since its inception was -35.54%, which is greater than PONAX's maximum drawdown of -13.64%. Use the drawdown chart below to compare losses from any high point for PHMIX and PONAX.
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Drawdown Indicators
| PHMIX | PONAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.54% | -13.64% | -21.90% |
Max Drawdown (1Y)Largest decline over 1 year | -5.41% | -3.69% | -1.72% |
Max Drawdown (5Y)Largest decline over 5 years | -18.96% | -13.64% | -5.32% |
Max Drawdown (10Y)Largest decline over 10 years | -18.96% | -13.64% | -5.32% |
Current DrawdownCurrent decline from peak | -2.70% | -3.24% | +0.54% |
Average DrawdownAverage peak-to-trough decline | -5.00% | -1.80% | -3.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.89% | 0.92% | +0.97% |
Volatility
PHMIX vs. PONAX - Volatility Comparison
The current volatility for PIMCO High Yield Municipal Bond Fund (PHMIX) is 1.29%, while PIMCO Income Fund Class A (PONAX) has a volatility of 1.88%. This indicates that PHMIX 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
| PHMIX | PONAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.29% | 1.88% | -0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 2.14% | 2.61% | -0.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.69% | 4.24% | +1.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.82% | 4.72% | +0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.68% | 4.16% | +0.52% |