PLMIX vs. VEMBX

Last updated Aug 4, 2026

PLMIX (PIMCO Emerging Markets Currency and Short-Term Investments Fund) and VEMBX (Vanguard Emerging Markets Bond Fund Investor Shares) are both Emerging Markets Bonds funds. Over the past 5 years, PLMIX returned 5.01%/yr vs 3.97%/yr for VEMBX. Their 0.44 correlation means their historical movements had little consistent relationship. PLMIX charges 0.85%/yr vs 0.50%/yr for VEMBX.

Performance

PLMIX vs. VEMBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Emerging Markets Currency and Short-Term Investments Fund (PLMIX) and Vanguard Emerging Markets Bond Fund Investor Shares (VEMBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PLMIX achieves a 4.94% return, which is significantly higher than VEMBX's 2.04% return.

PLMIX

• 1D: 0.00%
• 1M: 0.79%
• 6M: 2.54%
• YTD: 4.94%
• 1Y: 10.78%
• 3Y*: 8.29%
• 5Y*: 5.01%
• 10Y*: 3.77%
• ALL TIME*: 3.32%

VEMBX

• 1D: -0.09%
• 1M: -1.21%
• 6M: 1.38%
• YTD: 2.04%
• 1Y: 8.70%
• 3Y*: 10.02%
• 5Y*: 3.97%
• 10Y*: —
• ALL TIME*: 6.62%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PLMIX PIMCO Emerging Markets Currency and Short-Term Investments Fund	$0.00	$0.00	$0.00
VEMBX Vanguard Emerging Markets Bond Fund Investor Shares	$0.00	$0.00	$0.00

PLMIX vs. VEMBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PLMIX PIMCO Emerging Markets Currency and Short-Term Investments Fund	4.94%	17.29%	0.57%	9.01%	-4.12%	-2.76%	2.28%	6.21%	-4.43%	12.89%
VEMBX Vanguard Emerging Markets Bond Fund Investor Shares	2.04%	14.32%	7.38%	13.66%	-13.18%	-1.53%	14.99%	17.72%	-0.89%	13.12%

Correlation

The correlation between PLMIX and VEMBX is 0.56, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.56
Correlation (3Y) Balances recent behavior with more history.	0.42
Correlation (5Y) Shows whether the relationship held over a longer period.	0.46
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.44

The correlation between PLMIX and VEMBX shifts across timeframes, from 0.42 (3 years) to 0.56 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

PLMIX vs. VEMBX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PLMIX

PLMIX Risk / Return Rank: 76
PLMIX Sharpe Ratio Rank: 81
PLMIX Sortino Ratio Rank: 81
PLMIX Omega Ratio Rank: 81
PLMIX Calmar Ratio Rank: 69
PLMIX Martin Ratio Rank: 66

VEMBX

VEMBX Risk / Return Rank: 81
VEMBX Sharpe Ratio Rank: 85
VEMBX Sortino Ratio Rank: 88
VEMBX Omega Ratio Rank: 83
VEMBX Calmar Ratio Rank: 69
VEMBX Martin Ratio Rank: 80

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PLMIX vs. VEMBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Emerging Markets Currency and Short-Term Investments Fund (PLMIX) and Vanguard Emerging Markets Bond Fund Investor Shares (VEMBX). 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.

	PLMIX	VEMBX	Difference
Sharpe ratio: Return per unit of total volatility	1.97	2.07	-0.11
Sortino ratio: Return per unit of downside risk	2.87	3.30	-0.43
Omega ratio: Gain probability vs. loss probability	1.39	1.40	-0.01
Calmar ratio: Return relative to maximum drawdown	2.41	2.38	+0.03
Martin ratio: Return relative to average drawdown	9.05	10.12	-1.07

PLMIX vs. VEMBX - Sharpe Ratio Comparison

The current PLMIX Sharpe Ratio is 1.97, which is comparable to the VEMBX Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of PLMIX and VEMBX, 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

PLMIX vs. VEMBX - Drawdown Comparison

The maximum PLMIX drawdown since its inception was -28.76%, which is greater than VEMBX's maximum drawdown of -24.36%. Use the drawdown chart below to compare losses from any high point for PLMIX and VEMBX.

Drawdown Indicators

	PLMIX	VEMBX	Difference
Max Drawdown Largest peak-to-trough decline	-28.76%	-24.36%	-4.40%
Max Drawdown (1Y) Largest decline over 1 year	-4.70%	-3.77%	-0.93%
Max Drawdown (3Y) Largest decline over 3 years	-4.70%	-5.00%	+0.30%
Max Drawdown (5Y) Largest decline over 5 years	-13.95%	-24.36%	+10.41%
Max Drawdown (10Y) Largest decline over 10 years	-17.50%	—	—
Current Drawdown Current decline from peak	0.00%	-1.46%	+1.46%
Average Drawdown Average peak-to-trough decline	-5.68%	-3.81%	-1.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.25%	0.88%	+0.37%

Volatility

PLMIX vs. VEMBX - Volatility Comparison

PIMCO Emerging Markets Currency and Short-Term Investments Fund (PLMIX) and Vanguard Emerging Markets Bond Fund Investor Shares (VEMBX) have volatilities of 0.96% and 0.99%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PLMIX	VEMBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.96%	0.99%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	4.96%	3.67%	+1.29%
Volatility (1Y) Calculated over the trailing 1-year period	5.78%	4.32%	+1.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.03%	6.38%	-0.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.24%	6.32%	-0.08%

PLMIX vs. VEMBX - Expense Ratio Comparison

PLMIX has a 0.85% expense ratio, which is higher than VEMBX's 0.50% expense ratio.

Dividends

PLMIX vs. VEMBX - Dividend Comparison

PLMIX's dividend yield for the trailing twelve months is around 7.95%, more than VEMBX's 5.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PLMIX PIMCO Emerging Markets Currency and Short-Term Investments Fund	7.95%	7.44%	7.08%	6.40%	1.97%	1.47%	1.63%	4.10%	12.65%	2.82%	2.88%	2.75%
VEMBX Vanguard Emerging Markets Bond Fund Investor Shares	5.50%	6.20%	6.86%	7.06%	5.43%	5.00%	4.50%	6.27%	4.81%	6.50%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PLMIX and VEMBX in my portfolio?

PLMIX and VEMBX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PLMIX or VEMBX?

VEMBX has higher volatility (0.99%) compared to PLMIX (0.96%). In terms of maximum drawdown, PLMIX dropped -28.76% vs VEMBX's -24.36%.

Which has better risk-adjusted returns?

VEMBX currently has the higher Sharpe Ratio (2.07 vs 1.97), 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.