PIMIX vs. PYLD

Last updated Apr 1, 2026

Compare and contrast key facts about PIMCO Income Fund Institutional Class (PIMIX) and PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD).

PIMIX is managed by PIMCO. It was launched on Mar 30, 2007. PYLD is an actively managed fund by PIMCO. It was launched on Jun 21, 2023.

Performance

PIMIX vs. PYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Income Fund Institutional Class (PIMIX) and PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD). The values are adjusted to include any dividend payments, if applicable.

PIMIX vs. PYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PIMIX PIMCO Income Fund Institutional Class	-1.36%	11.08%	5.45%	5.79%
PYLD PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund	-0.92%	9.57%	7.69%	5.60%

Returns By Period

In the year-to-date period, PIMIX achieves a -1.36% return, which is significantly lower than PYLD's -0.92% return.

PIMIX

• 1D: 0.47%
• 1M: -3.24%
• YTD: -1.36%
• 6M: 1.15%
• 1Y: 6.07%
• 3Y*: 7.20%
• 5Y*: 3.38%
• 10Y*: 4.66%

PYLD

• 1D: 0.50%
• 1M: -2.28%
• YTD: -0.92%
• 6M: 0.90%
• 1Y: 5.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

PIMIX vs. PYLD - Expense Ratio Comparison

PIMIX has a 0.62% expense ratio, which is higher than PYLD's 0.55% expense ratio.

PIMIX

PIMCO Income Fund Institutional Class

PYLD

PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund

Return for Risk

PIMIX vs. PYLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PIMIX

PIMIX Risk / Return Rank: 81
PIMIX Sharpe Ratio Rank: 83
PIMIX Sortino Ratio Rank: 86
PIMIX Omega Ratio Rank: 78
PIMIX Calmar Ratio Rank: 80
PIMIX Martin Ratio Rank: 78

PYLD

PYLD Risk / Return Rank: 83
PYLD Sharpe Ratio Rank: 87
PYLD Sortino Ratio Rank: 89
PYLD Omega Ratio Rank: 87
PYLD Calmar Ratio Rank: 75
PYLD Martin Ratio Rank: 76

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PIMIX vs. PYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Income Fund Institutional Class (PIMIX) and PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD). 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.

	PIMIX	PYLD	Difference
Sharpe ratio Return per unit of total volatility	1.56	1.72	-0.16
Sortino ratio Return per unit of downside risk	2.25	2.39	-0.14
Omega ratio Gain probability vs. loss probability	1.29	1.34	-0.05
Calmar ratio Return relative to maximum drawdown	1.87	1.84	+0.03
Martin ratio Return relative to average drawdown	7.56	7.60	-0.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PIMIX vs. PYLD - Sharpe Ratio Comparison

The current PIMIX Sharpe Ratio is 1.56, which is comparable to the PYLD Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of PIMIX and PYLD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PIMIX	PYLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.56	1.72	-0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.11	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.56	1.99	-0.43

Correlation

The correlation between PIMIX and PYLD is 0.80, 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.

Dividends

PIMIX vs. PYLD - Dividend Comparison

PIMIX's dividend yield for the trailing twelve months is around 5.57%, less than PYLD's 6.36% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PIMIX PIMCO Income Fund Institutional Class	5.57%	6.01%	6.27%	6.21%	4.98%	4.02%	4.88%	5.83%	5.66%	5.37%	5.52%	7.88%
PYLD PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund	6.36%	6.21%	6.40%	2.72%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

PIMIX vs. PYLD - Drawdown Comparison

The maximum PIMIX drawdown since its inception was -13.39%, which is greater than PYLD's maximum drawdown of -4.52%. Use the drawdown chart below to compare losses from any high point for PIMIX and PYLD.

Drawdown Indicators

	PIMIX	PYLD	Difference
Max Drawdown Largest peak-to-trough decline	-13.39%	-4.52%	-8.87%
Max Drawdown (1Y) Largest decline over 1 year	-3.69%	-3.25%	-0.44%
Max Drawdown (5Y) Largest decline over 5 years	-13.34%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-13.39%	—	—
Current Drawdown Current decline from peak	-3.24%	-2.28%	-0.96%
Average Drawdown Average peak-to-trough decline	-1.69%	-0.64%	-1.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.92%	0.79%	+0.13%

Volatility

PIMIX vs. PYLD - Volatility Comparison

PIMCO Income Fund Institutional Class (PIMIX) has a higher volatility of 1.88% compared to PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD) at 1.61%. This indicates that PIMIX's price experiences larger fluctuations and is considered to be riskier than PYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PIMIX	PYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.88%	1.61%	+0.27%
Volatility (6M) Calculated over the trailing 6-month period	2.64%	2.12%	+0.52%
Volatility (1Y) Calculated over the trailing 1-year period	4.28%	3.43%	+0.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.75%	4.00%	+0.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.20%	4.00%	+0.20%