PIMIX vs. SWJRX

Last updated Jun 24, 2026

PIMIX (PIMCO Income Fund Institutional Class) and SWJRX (Schwab Monthly Income Fund - Moderate Payout) are both mutual funds - PIMIX is a Multisector Bonds fund actively managed by PIMCO, while SWJRX is a Diversified Portfolio fund managed by Charles Schwab. Over the past 10 years, PIMIX returned 4.72%/yr vs 5.36%/yr for SWJRX. At a 0.36 correlation, their price movements are largely independent. PIMIX charges 0.54%/yr vs 0.00%/yr for SWJRX.

Performance

PIMIX vs. SWJRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Income Fund Institutional Class (PIMIX) and Schwab Monthly Income Fund - Moderate Payout (SWJRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PIMIX achieves a 0.72% return, which is significantly lower than SWJRX's 6.01% return. Over the past 10 years, PIMIX has underperformed SWJRX with an annualized return of 4.72%, while SWJRX has yielded a comparatively higher 5.36% annualized return.

PIMIX

• 1D: -0.28%
• 1M: 0.91%
• YTD: 0.72%
• 6M: 1.32%
• 1Y: 7.28%
• 3Y*: 7.60%
• 5Y*: 3.49%
• 10Y*: 4.72%

SWJRX

• 1D: -0.09%
• 1M: -0.68%
• YTD: 6.01%
• 6M: 5.93%
• 1Y: 12.58%
• 3Y*: 9.74%
• 5Y*: 3.94%
• 10Y*: 5.36%

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

PIMIX vs. SWJRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PIMIX PIMCO Income Fund Institutional Class	0.72%	11.08%	5.45%	9.36%	-9.07%	2.62%	5.84%	8.10%	0.63%	8.63%
SWJRX Schwab Monthly Income Fund - Moderate Payout	6.01%	12.17%	3.83%	8.79%	-12.81%	9.23%	5.32%	16.40%	-6.31%	10.80%

Correlation

The correlation between PIMIX and SWJRX is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (10Y) Calculated over the trailing 10-year period	0.51
Correlation (All Time) Calculated using the full available price history since Mar 31, 2008	0.36

Over the past year, PIMIX and SWJRX have become more correlated (0.62) than their long-term average of 0.36, meaning their price movements have been converging.

Return for Risk

PIMIX vs. SWJRX — Risk / Return Rank

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

PIMIX

PIMIX Risk / Return Rank: 42
PIMIX Sharpe Ratio Rank: 45
PIMIX Sortino Ratio Rank: 50
PIMIX Omega Ratio Rank: 49
PIMIX Calmar Ratio Rank: 34
PIMIX Martin Ratio Rank: 33

SWJRX

SWJRX Risk / Return Rank: 65
SWJRX Sharpe Ratio Rank: 71
SWJRX Sortino Ratio Rank: 74
SWJRX Omega Ratio Rank: 67
SWJRX Calmar Ratio Rank: 61
SWJRX Martin Ratio Rank: 54

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. SWJRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Income Fund Institutional Class (PIMIX) and Schwab Monthly Income Fund - Moderate Payout (SWJRX). 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	SWJRX	Difference
Sharpe ratio: Return per unit of total volatility	1.83	2.25	-0.42
Sortino ratio: Return per unit of downside risk	2.73	3.27	-0.54
Omega ratio: Gain probability vs. loss probability	1.35	1.42	-0.06
Calmar ratio: Return relative to maximum drawdown	2.07	2.88	-0.81
Martin ratio: Return relative to average drawdown	6.98	10.30	-3.33

PIMIX vs. SWJRX - Sharpe Ratio Comparison

The current PIMIX Sharpe Ratio is 1.83, which is comparable to the SWJRX Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of PIMIX and SWJRX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PIMIX vs. SWJRX - Drawdown Comparison

The maximum PIMIX drawdown since its inception was -13.39%, smaller than the maximum SWJRX drawdown of -25.61%. Use the drawdown chart below to compare losses from any high point for PIMIX and SWJRX.

Drawdown Indicators

	PIMIX	SWJRX	Difference
Max Drawdown Largest peak-to-trough decline	-13.39%	-25.61%	+12.22%
Max Drawdown (1Y) Largest decline over 1 year	-3.69%	-4.55%	+0.86%
Max Drawdown (3Y) Largest decline over 3 years	-3.84%	-8.18%	+4.34%
Max Drawdown (5Y) Largest decline over 5 years	-13.34%	-20.87%	+7.53%
Max Drawdown (10Y) Largest decline over 10 years	-13.39%	-20.87%	+7.48%
Current Drawdown Current decline from peak	-1.21%	-1.38%	+0.17%
Average Drawdown Average peak-to-trough decline	-1.69%	-3.88%	+2.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.09%	1.27%	-0.18%

Volatility

PIMIX vs. SWJRX - Volatility Comparison

The current volatility for PIMCO Income Fund Institutional Class (PIMIX) is 1.34%, while Schwab Monthly Income Fund - Moderate Payout (SWJRX) has a volatility of 1.75%. This indicates that PIMIX experiences smaller price fluctuations and is considered to be less risky than SWJRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PIMIX	SWJRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.34%	1.75%	-0.41%
Volatility (6M) Calculated over the trailing 6-month period	3.41%	4.46%	-1.05%
Volatility (1Y) Calculated over the trailing 1-year period	4.19%	5.82%	-1.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.87%	8.72%	-3.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.26%	8.59%	-4.33%

PIMIX vs. SWJRX - Expense Ratio Comparison

PIMIX has a 0.54% expense ratio, which is higher than SWJRX's 0.00% expense ratio.

Dividends

PIMIX vs. SWJRX - Dividend Comparison

PIMIX's dividend yield for the trailing twelve months is around 5.85%, more than SWJRX's 4.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PIMIX PIMCO Income Fund Institutional Class	5.85%	6.01%	6.27%	6.21%	4.98%	4.02%	4.88%	5.83%	5.66%	5.37%	5.52%	7.88%
SWJRX Schwab Monthly Income Fund - Moderate Payout	4.70%	4.78%	4.94%	4.80%	8.67%	3.62%	2.49%	5.36%	3.47%	2.93%	6.05%	6.80%

Frequently Asked Questions

Can I hold both PIMIX and SWJRX in my portfolio?

PIMIX and SWJRX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PIMIX or SWJRX?

SWJRX has higher volatility (1.75%) compared to PIMIX (1.34%). In terms of maximum drawdown, PIMIX dropped -13.39% vs SWJRX's -25.61%.

Which has better risk-adjusted returns?

SWJRX currently has the higher Sharpe Ratio (2.25 vs 1.83), 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.