PMFLX vs. FGNSX

Last updated Jun 4, 2026

PMFLX (PIMCO Flexible Municipal Income Fund) and FGNSX (Strategic Advisers Tax-Sensitive Short Duration Fund) are both Municipal Bonds funds. Their correlation of 0.87 suggests significant overlap in exposure. PMFLX charges 0.70%/yr vs 0.07%/yr for FGNSX.

Performance

PMFLX vs. FGNSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Flexible Municipal Income Fund (PMFLX) and Strategic Advisers Tax-Sensitive Short Duration Fund (FGNSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PMFLX

• 1D: 0.20%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FGNSX

• 1D: 0.00%
• 1M: 0.25%
• YTD: 0.67%
• 6M: 0.94%
• 1Y: 2.58%
• 3Y*: 3.21%
• 5Y*: 2.07%
• 10Y*: —

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

PMFLX vs. FGNSX - Yearly Performance Comparison

	2026 (YTD)
PMFLX PIMCO Flexible Municipal Income Fund	0.66%
FGNSX Strategic Advisers Tax-Sensitive Short Duration Fund	0.25%

Correlation

The correlation between PMFLX and FGNSX is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	0.87

Return for Risk

PMFLX vs. FGNSX — Risk / Return Rank

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

FGNSX

FGNSX Risk / Return Rank: 96
FGNSX Sharpe Ratio Rank: 90
FGNSX Sortino Ratio Rank: 98
FGNSX Omega Ratio Rank: 99
FGNSX Calmar Ratio Rank: 96
FGNSX Martin Ratio Rank: 97

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.

PMFLX vs. FGNSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Flexible Municipal Income Fund (PMFLX) and Strategic Advisers Tax-Sensitive Short Duration Fund (FGNSX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	PMFLX	FGNSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.00	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.05	—
Sharpe Ratio (All Time) Calculated using the full available price history	17.21	1.10	+16.11

Drawdowns

PMFLX vs. FGNSX - Drawdown Comparison

The maximum PMFLX drawdown since its inception was -0.10%, smaller than the maximum FGNSX drawdown of -2.35%. Use the drawdown chart below to compare losses from any high point for PMFLX and FGNSX.

Drawdown Indicators

	PMFLX	FGNSX	Difference
Max Drawdown Largest peak-to-trough decline	-0.10%	-2.35%	+2.25%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.50%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-2.35%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-2.35%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.03%	-0.25%	+0.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.92%	—

Volatility

Volatility by Period

	PMFLX	FGNSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.40%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.69%	—
Volatility (1Y) Calculated over the trailing 1-year period	5.22%	1.02%	+4.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.22%	2.06%	+3.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.22%	1.65%	+3.57%

PMFLX vs. FGNSX - Expense Ratio Comparison

PMFLX has a 0.70% expense ratio, which is higher than FGNSX's 0.07% expense ratio.

Dividends

PMFLX vs. FGNSX - Dividend Comparison

PMFLX's dividend yield for the trailing twelve months is around 0.36%, less than FGNSX's 2.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FGNSX Strategic Advisers Tax-Sensitive Short Duration Fund	2.35%	2.63%	3.31%	2.57%	0.84%	0.34%	0.83%	1.79%	1.36%
PMFLX PIMCO Flexible Municipal Income Fund	0.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PMFLX and FGNSX in my portfolio?

PMFLX and FGNSX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.