PMFLX vs. PMJIX

Last updated Jul 2, 2026

PMFLX (PIMCO Flexible Municipal Income Fund) and PMJIX (PIMCO RAE US Small Fund) are both mutual funds - PMFLX is a Municipal Bonds fund managed by PIMCO, while PMJIX is a Small Cap Value Equities fund managed by PIMCO. At a 0.13 correlation, their price movements are largely independent. PMFLX charges 0.70%/yr vs 0.50%/yr for PMJIX.

Performance

PMFLX vs. PMJIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Flexible Municipal Income Fund (PMFLX) and PIMCO RAE US Small Fund (PMJIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PMFLX

• 1D: 0.46%
• 1M: 1.25%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PMJIX

• 1D: -0.14%
• 1M: 2.93%
• 6M: 20.98%
• YTD: 20.98%
• 1Y: 32.64%
• 3Y*: 20.96%
• 5Y*: 11.18%
• 10Y*: 13.93%

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

PMFLX vs. PMJIX - Yearly Performance Comparison

	2026 (YTD)
PMFLX PIMCO Flexible Municipal Income Fund	1.71%
PMJIX PIMCO RAE US Small Fund	4.07%

Correlation

The correlation between PMFLX and PMJIX is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	0.13

Return for Risk

PMFLX vs. PMJIX — Risk / Return Rank

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

PMFLX

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

PMJIX

PMJIX Risk / Return Rank: 79
PMJIX Sharpe Ratio Rank: 75
PMJIX Sortino Ratio Rank: 75
PMJIX Omega Ratio Rank: 64
PMJIX Calmar Ratio Rank: 94
PMJIX Martin Ratio Rank: 88

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. PMJIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Flexible Municipal Income Fund (PMFLX) and PIMCO RAE US Small Fund (PMJIX). 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.

	PMFLX	PMJIX	Difference
Sharpe ratio: Return per unit of total volatility	—	2.07	—
Sortino ratio: Return per unit of downside risk	—	2.95	—
Omega ratio: Gain probability vs. loss probability	—	1.35	—
Calmar ratio: Return relative to maximum drawdown	—	4.68	—
Martin ratio: Return relative to average drawdown	—	13.83	—

Drawdowns

PMFLX vs. PMJIX - Drawdown Comparison

The maximum PMFLX drawdown since its inception was -0.30%, smaller than the maximum PMJIX drawdown of -49.75%. Use the drawdown chart below to compare losses from any high point for PMFLX and PMJIX.

Drawdown Indicators

	PMFLX	PMJIX	Difference
Max Drawdown Largest peak-to-trough decline	-0.30%	-49.75%	+49.45%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.62%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-26.04%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-49.75%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-49.75%	—
Current Drawdown Current decline from peak	0.00%	-0.50%	+0.50%
Average Drawdown Average peak-to-trough decline	-0.09%	-16.12%	+16.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.57%	—

Volatility

Volatility by Period

	PMFLX	PMJIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.79%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.93%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.08%	17.22%	-14.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.08%	39.44%	-36.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.08%	33.05%	-29.97%

PMFLX vs. PMJIX - Expense Ratio Comparison

PMFLX has a 0.70% expense ratio, which is higher than PMJIX's 0.50% expense ratio.

Dividends

PMFLX vs. PMJIX - Dividend Comparison

PMFLX's dividend yield for the trailing twelve months is around 0.71%, less than PMJIX's 2.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PMFLX PIMCO Flexible Municipal Income Fund	0.71%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PMJIX PIMCO RAE US Small Fund	2.61%	3.15%	3.26%	1.25%	9.91%	65.79%	9.46%	1.55%	7.65%	4.69%	1.24%	1.67%

Frequently Asked Questions

Can I hold both PMFLX and PMJIX in my portfolio?

PMFLX and PMJIX have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.