PHMIX vs. VWALX
Compare and contrast key facts about PIMCO High Yield Municipal Bond Fund (PHMIX) and Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX).
PHMIX is managed by PIMCO. It was launched on Jul 30, 2006. VWALX is managed by Vanguard. It was launched on Nov 12, 2001.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PHMIX or VWALX.
Performance
PHMIX vs. VWALX - Performance Comparison
Returns By Period
In the year-to-date period, PHMIX achieves a 5.14% return, which is significantly higher than VWALX's 3.81% return. Over the past 10 years, PHMIX has outperformed VWALX with an annualized return of 4.11%, while VWALX has yielded a comparatively lower 3.23% annualized return.
PHMIX
5.14%
0.96%
4.26%
10.44%
2.08%
4.11%
VWALX
3.81%
1.26%
3.96%
9.26%
1.67%
3.23%
Key characteristics
| PHMIX | VWALX | |
|---|---|---|
| Sharpe Ratio | 2.49 | 2.27 |
| Sortino Ratio | 3.86 | 3.39 |
| Omega Ratio | 1.59 | 1.54 |
| Calmar Ratio | 0.94 | 0.95 |
| Martin Ratio | 12.43 | 10.46 |
| Ulcer Index | 0.84% | 0.89% |
| Daily Std Dev | 4.20% | 4.09% |
| Max Drawdown | -35.54% | -17.74% |
| Current Drawdown | -1.64% | -1.36% |
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PHMIX vs. VWALX - Expense Ratio Comparison
PHMIX has a 0.55% expense ratio, which is higher than VWALX's 0.09% expense ratio.
Correlation
The correlation between PHMIX and VWALX is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
PHMIX vs. VWALX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO High Yield Municipal Bond Fund (PHMIX) and Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX). 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.
Dividends
PHMIX vs. VWALX - Dividend Comparison
PHMIX's dividend yield for the trailing twelve months is around 4.60%, more than VWALX's 3.76% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PHMIX PIMCO High Yield Municipal Bond Fund | 4.60% | 4.72% | 4.33% | 2.99% | 3.07% | 3.82% | 4.25% | 4.21% | 4.13% | 4.47% | 4.51% | 4.75% |
VWALX Vanguard High-Yield Tax-Exempt Fund Admiral Shares | 3.76% | 3.59% | 3.44% | 2.93% | 3.16% | 3.44% | 3.84% | 3.77% | 3.88% | 3.75% | 3.83% | 4.19% |
Drawdowns
PHMIX vs. VWALX - Drawdown Comparison
The maximum PHMIX drawdown since its inception was -35.54%, which is greater than VWALX's maximum drawdown of -17.74%. Use the drawdown chart below to compare losses from any high point for PHMIX and VWALX. For additional features, visit the drawdowns tool.
Volatility
PHMIX vs. VWALX - Volatility Comparison
PIMCO High Yield Municipal Bond Fund (PHMIX) and Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX) have volatilities of 1.80% and 1.75%, 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.