PIMIX vs. FISMX
PIMIX (PIMCO Income Fund Institutional Class) and FISMX (Fidelity International Small Cap Fund) are both mutual funds - PIMIX is a Multisector Bonds fund actively managed by PIMCO, while FISMX is a Foreign Small & Mid Cap Equities fund managed by Fidelity. Over the past 10 years, PIMIX returned 4.73%/yr vs 9.23%/yr for FISMX. At a 0.26 correlation, their price movements are largely independent. PIMIX charges 0.54%/yr vs 1.01%/yr for FISMX.
Performance
PIMIX vs. FISMX - 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 FISMX's 9.34% return. Over the past 10 years, PIMIX has underperformed FISMX with an annualized return of 4.73%, while FISMX has yielded a comparatively higher 9.23% annualized 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%
FISMX
- 1D
- 0.55%
- 1M
- 0.73%
- YTD
- 9.34%
- 6M
- 10.06%
- 1Y
- 17.15%
- 3Y*
- 13.51%
- 5Y*
- 6.09%
- 10Y*
- 9.23%
PIMIX vs. FISMX - 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% | 8.63% |
FISMX Fidelity International Small Cap Fund | 9.34% | 24.73% | 0.05% | 19.62% | -16.66% | 13.44% | 9.98% | 21.45% | -16.08% | 31.58% |
Correlation
The correlation between PIMIX and FISMX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2007 | 0.26 |
Over the past year, PIMIX and FISMX have become more correlated (0.49) than their long-term average of 0.26, meaning their price movements have been converging.
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Return for Risk
PIMIX vs. FISMX — Risk / Return Rank
PIMIX
FISMX
PIMIX vs. FISMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Income Fund Institutional Class (PIMIX) and Fidelity International Small Cap Fund (FISMX). 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 | FISMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.58 | ||
| Sortino ratioReturn per unit of downside risk | +0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.24 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.07 | 1.50 | +0.57 |
| Martin ratioReturn relative to average drawdown | 7.02 | 5.27 | +1.76 |
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Drawdowns
PIMIX vs. FISMX - Drawdown Comparison
The maximum PIMIX drawdown since its inception was -13.39%, smaller than the maximum FISMX drawdown of -60.94%. Use the drawdown chart below to compare losses from any high point for PIMIX and FISMX.
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Drawdown Indicators
| PIMIX | FISMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.39% | -60.94% | +47.55% |
Max Drawdown (1Y)Largest decline over 1 year | -3.69% | -10.71% | +7.02% |
Max Drawdown (3Y)Largest decline over 3 years | -3.84% | -12.70% | +8.86% |
Max Drawdown (5Y)Largest decline over 5 years | -13.34% | -31.07% | +17.73% |
Max Drawdown (10Y)Largest decline over 10 years | -13.39% | -38.80% | +25.41% |
Current DrawdownCurrent decline from peak | -0.93% | -1.83% | +0.90% |
Average DrawdownAverage peak-to-trough decline | -1.69% | -10.63% | +8.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.09% | 3.04% | -1.95% |
Volatility
PIMIX vs. FISMX - Volatility Comparison
The current volatility for PIMCO Income Fund Institutional Class (PIMIX) is 1.67%, while Fidelity International Small Cap Fund (FISMX) has a volatility of 4.85%. This indicates that PIMIX experiences smaller price fluctuations and is considered to be less risky than FISMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PIMIX | FISMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.67% | 4.85% | -3.18% |
Volatility (6M)Calculated over the trailing 6-month period | 3.37% | 10.81% | -7.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.17% | 12.78% | -8.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.86% | 13.66% | -8.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.26% | 14.08% | -9.82% |
PIMIX vs. FISMX - Expense Ratio Comparison
PIMIX has a 0.54% expense ratio, which is lower than FISMX's 1.01% expense ratio.
Dividends
PIMIX vs. FISMX - Dividend Comparison
PIMIX's dividend yield for the trailing twelve months is around 5.83%, more than FISMX's 3.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FISMX Fidelity International Small Cap Fund | 3.28% | 3.58% | 2.64% | 1.87% | 0.70% | 7.28% | 0.83% | 2.32% | 6.14% | 2.46% | 2.70% | 2.80% |
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 FISMX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FISMX has higher volatility (4.85%) compared to PIMIX (1.67%). In terms of maximum drawdown, PIMIX dropped -13.39% vs FISMX's -60.94%.
PIMIX currently has the higher Sharpe Ratio (1.84 vs 1.25), 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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