PMIF-U.TO vs. EMF

Last updated Jun 4, 2026

PMIF-U.TO (PIMCO Monthly Income Fund (Canada)) and EMF (Templeton Emerging Markets Fund) are both funds - PMIF-U.TO is a Multisector Bonds fund actively managed by PIMCO, while EMF is a Emerging Markets Equities fund actively managed by Franklin Templeton. Both are actively managed. Over the past 5 years, PMIF-U.TO returned 2.60%/yr vs 11.63%/yr for EMF. At a 0.10 correlation, their price movements are largely independent. PMIF-U.TO charges 0.84%/yr vs 1.43%/yr for EMF.

Performance

PMIF-U.TO vs. EMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Monthly Income Fund (Canada) (PMIF-U.TO) and Templeton Emerging Markets Fund (EMF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PMIF-U.TO achieves a 0.45% return, which is significantly lower than EMF's 41.37% return.

PMIF-U.TO

• 1D: -0.30%
• 1M: 0.56%
• YTD: 0.45%
• 6M: 0.49%
• 1Y: 6.92%
• 3Y*: 6.17%
• 5Y*: 2.60%
• 10Y*: —

EMF

• 1D: -1.78%
• 1M: 14.71%
• YTD: 41.37%
• 6M: 49.61%
• 1Y: 93.36%
• 3Y*: 36.22%
• 5Y*: 11.63%
• 10Y*: 15.64%

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

PMIF-U.TO vs. EMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PMIF-U.TO PIMCO Monthly Income Fund (Canada)	0.45%	9.02%	3.83%	7.22%	-6.89%	0.89%	3.42%	7.02%	0.69%
EMF Templeton Emerging Markets Fund	41.37%	58.20%	6.56%	8.84%	-21.53%	-8.23%	24.48%	27.20%	-2.62%

Correlation

The correlation between PMIF-U.TO and EMF is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (All Time) Calculated using the full available price history since Oct 4, 2018	0.10

Return for Risk

PMIF-U.TO vs. EMF — Risk / Return Rank

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

PMIF-U.TO

PMIF-U.TO Risk / Return Rank: 57
PMIF-U.TO Sharpe Ratio Rank: 62
PMIF-U.TO Sortino Ratio Rank: 66
PMIF-U.TO Omega Ratio Rank: 64
PMIF-U.TO Calmar Ratio Rank: 44
PMIF-U.TO Martin Ratio Rank: 51

EMF

EMF Risk / Return Rank: 94
EMF Sharpe Ratio Rank: 98
EMF Sortino Ratio Rank: 94
EMF Omega Ratio Rank: 94
EMF Calmar Ratio Rank: 91
EMF Martin Ratio Rank: 92

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.

PMIF-U.TO vs. EMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Monthly Income Fund (Canada) (PMIF-U.TO) and Templeton Emerging Markets Fund (EMF). 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.

	PMIF-U.TO	EMF	Difference
Sharpe ratio: Return per unit of total volatility	2.06	4.12	-2.06
Sortino ratio: Return per unit of downside risk	3.04	4.88	-1.84
Omega ratio: Gain probability vs. loss probability	1.39	1.73	-0.34
Calmar ratio: Return relative to maximum drawdown	2.16	4.82	-2.66
Martin ratio: Return relative to average drawdown	8.38	19.26	-10.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PMIF-U.TO vs. EMF - Sharpe Ratio Comparison

The current PMIF-U.TO Sharpe Ratio is 2.06, which is lower than the EMF Sharpe Ratio of 4.12. The chart below compares the historical Sharpe Ratios of PMIF-U.TO and EMF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PMIF-U.TO	EMF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	4.12	-2.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.57	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.76	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.23	+0.36

Drawdowns

PMIF-U.TO vs. EMF - Drawdown Comparison

The maximum PMIF-U.TO drawdown since its inception was -17.24%, smaller than the maximum EMF drawdown of -76.97%. Use the drawdown chart below to compare losses from any high point for PMIF-U.TO and EMF.

Drawdown Indicators

	PMIF-U.TO	EMF	Difference
Max Drawdown Largest peak-to-trough decline	-17.24%	-76.97%	+59.73%
Max Drawdown (1Y) Largest decline over 1 year	-3.22%	-19.48%	+16.26%
Max Drawdown (3Y) Largest decline over 3 years	-4.15%	-19.48%	+15.33%
Max Drawdown (5Y) Largest decline over 5 years	-11.03%	-45.62%	+34.59%
Max Drawdown (10Y) Largest decline over 10 years	—	-47.65%	—
Current Drawdown Current decline from peak	-1.16%	-1.78%	+0.62%
Average Drawdown Average peak-to-trough decline	-2.32%	-29.00%	+26.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.83%	4.87%	-4.04%

Volatility

PMIF-U.TO vs. EMF - Volatility Comparison

The current volatility for PIMCO Monthly Income Fund (Canada) (PMIF-U.TO) is 1.26%, while Templeton Emerging Markets Fund (EMF) has a volatility of 9.22%. This indicates that PMIF-U.TO experiences smaller price fluctuations and is considered to be less risky than EMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PMIF-U.TO	EMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.26%	9.22%	-7.96%
Volatility (6M) Calculated over the trailing 6-month period	2.51%	20.12%	-17.61%
Volatility (1Y) Calculated over the trailing 1-year period	3.39%	22.81%	-19.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.05%	20.50%	-15.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.71%	20.58%	-13.87%

PMIF-U.TO vs. EMF - Expense Ratio Comparison

PMIF-U.TO has a 0.84% expense ratio, which is lower than EMF's 1.43% expense ratio.

Dividends

PMIF-U.TO vs. EMF - Dividend Comparison

PMIF-U.TO's dividend yield for the trailing twelve months is around 3.94%, less than EMF's 6.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMF Templeton Emerging Markets Fund	6.97%	9.73%	4.28%	6.22%	9.89%	6.92%	3.51%	7.36%	5.92%	12.11%	1.62%	12.81%
PMIF-U.TO PIMCO Monthly Income Fund (Canada)	3.94%	3.96%	4.91%	4.53%	2.82%	2.40%	2.68%	2.38%	0.59%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PMIF-U.TO and EMF in my portfolio?

PMIF-U.TO and EMF have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.