PIRMX vs. SMIFX

Last updated Jun 20, 2026

PIRMX (PIMCO Inflation Response Multi-Asset Fund Institutional) and SMIFX (Sound Mind Investing Fund) are both Diversified Portfolio funds. Over the past 10 years, PIRMX returned 7.39%/yr vs 9.47%/yr for SMIFX. At a 0.39 correlation, their price movements are largely independent. PIRMX charges 1.91%/yr vs 1.19%/yr for SMIFX.

Performance

PIRMX vs. SMIFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Inflation Response Multi-Asset Fund Institutional (PIRMX) and Sound Mind Investing Fund (SMIFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PIRMX achieves a 5.39% return, which is significantly lower than SMIFX's 15.94% return. Over the past 10 years, PIRMX has underperformed SMIFX with an annualized return of 7.39%, while SMIFX has yielded a comparatively higher 9.47% annualized return.

PIRMX

• 1D: -0.33%
• 1M: -1.62%
• YTD: 5.39%
• 6M: 5.72%
• 1Y: 14.10%
• 3Y*: 13.16%
• 5Y*: 8.37%
• 10Y*: 7.39%

SMIFX

• 1D: 0.90%
• 1M: 1.27%
• YTD: 15.94%
• 6M: 16.07%
• 1Y: 21.32%
• 3Y*: 12.51%
• 5Y*: 6.77%
• 10Y*: 9.47%

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

PIRMX vs. SMIFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PIRMX PIMCO Inflation Response Multi-Asset Fund Institutional	5.39%	16.76%	12.47%	6.50%	-5.11%	13.86%	9.36%	10.03%	-3.70%	8.59%
SMIFX Sound Mind Investing Fund	15.94%	3.16%	16.65%	5.17%	-8.93%	11.15%	20.76%	19.28%	-8.56%	17.49%

Correlation

The correlation between PIRMX and SMIFX is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (10Y) Calculated over the trailing 10-year period	0.40
Correlation (All Time) Calculated using the full available price history since Sep 1, 2011	0.39

The correlation between PIRMX and SMIFX shifts across timeframes, from 0.39 (all time) to 0.57 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

PIRMX vs. SMIFX — Risk / Return Rank

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

PIRMX

PIRMX Risk / Return Rank: 82
PIRMX Sharpe Ratio Rank: 79
PIRMX Sortino Ratio Rank: 75
PIRMX Omega Ratio Rank: 77
PIRMX Calmar Ratio Rank: 90
PIRMX Martin Ratio Rank: 88

SMIFX

SMIFX Risk / Return Rank: 46
SMIFX Sharpe Ratio Rank: 41
SMIFX Sortino Ratio Rank: 37
SMIFX Omega Ratio Rank: 40
SMIFX Calmar Ratio Rank: 63
SMIFX Martin Ratio Rank: 46

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.

PIRMX vs. SMIFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Inflation Response Multi-Asset Fund Institutional (PIRMX) and Sound Mind Investing Fund (SMIFX). 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.

	PIRMX	SMIFX	Difference
Sharpe ratio: Return per unit of total volatility	2.37	1.72	+0.64
Sortino ratio: Return per unit of downside risk	3.24	2.33	+0.91
Omega ratio: Gain probability vs. loss probability	1.45	1.31	+0.13
Calmar ratio: Return relative to maximum drawdown	4.22	2.89	+1.33
Martin ratio: Return relative to average drawdown	15.46	9.12	+6.33

PIRMX vs. SMIFX - Sharpe Ratio Comparison

The current PIRMX Sharpe Ratio is 2.37, which is higher than the SMIFX Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of PIRMX and SMIFX, 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

PIRMX vs. SMIFX - Drawdown Comparison

The maximum PIRMX drawdown since its inception was -18.51%, smaller than the maximum SMIFX drawdown of -54.33%. Use the drawdown chart below to compare losses from any high point for PIRMX and SMIFX.

Drawdown Indicators

	PIRMX	SMIFX	Difference
Max Drawdown Largest peak-to-trough decline	-18.51%	-54.33%	+35.82%
Max Drawdown (1Y) Largest decline over 1 year	-3.37%	-7.42%	+4.05%
Max Drawdown (3Y) Largest decline over 3 years	-4.96%	-19.98%	+15.02%
Max Drawdown (5Y) Largest decline over 5 years	-14.31%	-41.36%	+27.05%
Max Drawdown (10Y) Largest decline over 10 years	-18.20%	-41.36%	+23.16%
Current Drawdown Current decline from peak	-2.70%	-9.47%	+6.77%
Average Drawdown Average peak-to-trough decline	-4.09%	-14.27%	+10.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.92%	2.34%	-1.42%

Volatility

PIRMX vs. SMIFX - Volatility Comparison

The current volatility for PIMCO Inflation Response Multi-Asset Fund Institutional (PIRMX) is 1.62%, while Sound Mind Investing Fund (SMIFX) has a volatility of 5.23%. This indicates that PIRMX experiences smaller price fluctuations and is considered to be less risky than SMIFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PIRMX	SMIFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.62%	5.23%	-3.61%
Volatility (6M) Calculated over the trailing 6-month period	4.83%	9.99%	-5.16%
Volatility (1Y) Calculated over the trailing 1-year period	6.01%	12.44%	-6.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.28%	29.07%	-20.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.48%	24.21%	-16.73%

PIRMX vs. SMIFX - Expense Ratio Comparison

PIRMX has a 1.91% expense ratio, which is higher than SMIFX's 1.19% expense ratio.

Dividends

PIRMX vs. SMIFX - Dividend Comparison

PIRMX's dividend yield for the trailing twelve months is around 8.39%, more than SMIFX's 4.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PIRMX PIMCO Inflation Response Multi-Asset Fund Institutional	8.39%	2.66%	9.91%	0.13%	14.12%	11.21%	0.80%	2.05%	11.41%	6.43%	0.49%	3.13%
SMIFX Sound Mind Investing Fund	4.60%	5.33%	1.28%	1.73%	0.97%	46.86%	0.00%	0.48%	26.02%	10.06%	0.00%	14.94%

Frequently Asked Questions

Can I hold both PIRMX and SMIFX in my portfolio?

PIRMX and SMIFX have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PIRMX or SMIFX?

SMIFX has higher volatility (5.23%) compared to PIRMX (1.62%). In terms of maximum drawdown, PIRMX dropped -18.51% vs SMIFX's -54.33%.

Which has better risk-adjusted returns?

PIRMX currently has the higher Sharpe Ratio (2.37 vs 1.72), 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.