PIMIX vs. EMXC
PIMIX (PIMCO Income Fund Institutional Class) and EMXC (iShares MSCI Emerging Markets ex China ETF) are both funds - PIMIX is a Multisector Bonds fund actively managed by PIMCO, while EMXC is a Emerging Markets Equities fund tracking the MSCI Emerging Markets ex China Index. PIMIX is actively managed, while EMXC is passively managed. Over the past 5 years, PIMIX returned 3.46%/yr vs 13.21%/yr for EMXC. At a 0.35 correlation, their price movements are largely independent. PIMIX charges 0.54%/yr vs 0.49%/yr for EMXC.
Performance
PIMIX vs. EMXC - Performance Comparison
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Returns By Period
In the year-to-date period, PIMIX achieves a 1.00% return, which is significantly lower than EMXC's 42.50% return.
PIMIX
- 1D
- 0.09%
- 1M
- 1.85%
- YTD
- 1.00%
- 6M
- 1.69%
- 1Y
- 7.98%
- 3Y*
- 7.80%
- 5Y*
- 3.46%
- 10Y*
- 4.73%
EMXC
- 1D
- 3.83%
- 1M
- 10.65%
- YTD
- 42.50%
- 6M
- 47.59%
- 1Y
- 74.22%
- 3Y*
- 27.88%
- 5Y*
- 13.21%
- 10Y*
- —
PIMIX vs. EMXC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PIMIX PIMCO Income Fund Institutional Class | 1.00% | 11.08% | 5.45% | 9.36% | -9.07% | 2.62% | 5.84% | 8.10% | 0.63% | 3.06% |
EMXC iShares MSCI Emerging Markets ex China ETF | 42.50% | 35.14% | 2.68% | 18.96% | -19.56% | 8.54% | 12.76% | 15.80% | -12.96% | 7.16% |
Correlation
The correlation between PIMIX and EMXC is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2017 | 0.35 |
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Return for Risk
PIMIX vs. EMXC — Risk / Return Rank
PIMIX
EMXC
PIMIX vs. EMXC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Income Fund Institutional Class (PIMIX) and iShares MSCI Emerging Markets ex China ETF (EMXC). 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.
| PIMIX | EMXC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.56 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.07 | 5.18 | -3.11 |
| Martin ratioReturn relative to average drawdown | 7.02 | 19.92 | -12.90 |
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Drawdowns
PIMIX vs. EMXC - Drawdown Comparison
The maximum PIMIX drawdown since its inception was -13.39%, smaller than the maximum EMXC drawdown of -42.81%. Use the drawdown chart below to compare losses from any high point for PIMIX and EMXC.
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Drawdown Indicators
| PIMIX | EMXC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.39% | -42.81% | +29.42% |
Max Drawdown (1Y)Largest decline over 1 year | -3.69% | -14.41% | +10.72% |
Max Drawdown (3Y)Largest decline over 3 years | -3.84% | -19.12% | +15.28% |
Max Drawdown (5Y)Largest decline over 5 years | -13.34% | -28.91% | +15.57% |
Max Drawdown (10Y)Largest decline over 10 years | -13.39% | — | — |
Current DrawdownCurrent decline from peak | -0.93% | -0.45% | -0.48% |
Average DrawdownAverage peak-to-trough decline | -1.69% | -10.17% | +8.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.09% | 3.74% | -2.65% |
Volatility
PIMIX vs. EMXC - Volatility Comparison
The current volatility for PIMCO Income Fund Institutional Class (PIMIX) is 1.67%, while iShares MSCI Emerging Markets ex China ETF (EMXC) has a volatility of 13.30%. This indicates that PIMIX experiences smaller price fluctuations and is considered to be less risky than EMXC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PIMIX | EMXC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.67% | 13.30% | -11.63% |
Volatility (6M)Calculated over the trailing 6-month period | 3.37% | 22.16% | -18.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.17% | 24.16% | -19.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.86% | 18.08% | -13.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.26% | 20.10% | -15.84% |
PIMIX vs. EMXC - Expense Ratio Comparison
PIMIX has a 0.54% expense ratio, which is higher than EMXC's 0.49% expense ratio.
Dividends
PIMIX vs. EMXC - Dividend Comparison
PIMIX's dividend yield for the trailing twelve months is around 5.83%, more than EMXC's 2.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMXC iShares MSCI Emerging Markets ex China ETF | 2.56% | 2.82% | 2.69% | 1.83% | 2.85% | 1.78% | 1.45% | 3.25% | 2.63% | 0.99% | 0.00% | 0.00% |
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
PIMIX and EMXC have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMXC has higher volatility (13.30%) compared to PIMIX (1.67%). In terms of maximum drawdown, PIMIX dropped -13.39% vs EMXC's -42.81%.
EMXC currently has the higher Sharpe Ratio (3.09 vs 1.84), 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.
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