PMNPX vs. MUNI
Compare and contrast key facts about PIMCO National Intermediate Municipal Bond Fund (PMNPX) and PIMCO Intermediate Municipal Bond Active ETF (MUNI).
PMNPX is managed by PIMCO. It was launched on May 30, 2012. MUNI is an actively managed fund by PIMCO. It was launched on Nov 30, 2009.
Performance
PMNPX vs. MUNI - Performance Comparison
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PMNPX vs. MUNI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PMNPX PIMCO National Intermediate Municipal Bond Fund | -0.20% | 5.05% | 2.08% | 6.27% | -6.64% | 0.86% | 4.46% | 6.83% | 0.99% | 5.21% |
MUNI PIMCO Intermediate Municipal Bond Active ETF | 0.26% | 4.72% | 1.43% | 6.07% | -6.62% | 0.67% | 4.83% | 7.09% | 0.84% | 4.86% |
Returns By Period
In the year-to-date period, PMNPX achieves a -0.20% return, which is significantly lower than MUNI's 0.26% return. Both investments have delivered pretty close results over the past 10 years, with PMNPX having a 2.23% annualized return and MUNI not far behind at 2.18%.
PMNPX
- 1D
- 0.19%
- 1M
- -1.99%
- YTD
- -0.20%
- 6M
- 0.97%
- 1Y
- 4.18%
- 3Y*
- 3.51%
- 5Y*
- 1.44%
- 10Y*
- 2.23%
MUNI
- 1D
- 0.15%
- 1M
- -1.53%
- YTD
- 0.26%
- 6M
- 1.49%
- 1Y
- 4.51%
- 3Y*
- 3.39%
- 5Y*
- 1.33%
- 10Y*
- 2.18%
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PMNPX vs. MUNI - Expense Ratio Comparison
PMNPX has a 0.55% expense ratio, which is higher than MUNI's 0.35% expense ratio.
Return for Risk
PMNPX vs. MUNI — Risk / Return Rank
PMNPX
MUNI
PMNPX vs. MUNI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO National Intermediate Municipal Bond Fund (PMNPX) and PIMCO Intermediate Municipal Bond Active ETF (MUNI). 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.
| PMNPX | MUNI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.26 | 1.18 | +0.09 |
Sortino ratioReturn per unit of downside risk | 1.68 | 1.58 | +0.10 |
Omega ratioGain probability vs. loss probability | 1.33 | 1.30 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.52 | 1.63 | -0.12 |
Martin ratioReturn relative to average drawdown | 5.25 | 5.45 | -0.20 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PMNPX | MUNI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 1.18 | +0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.46 | 0.40 | +0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.70 | 0.57 | +0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 0.77 | +0.09 |
Correlation
The correlation between PMNPX and MUNI is 0.58, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
PMNPX vs. MUNI - Dividend Comparison
PMNPX's dividend yield for the trailing twelve months is around 3.21%, less than MUNI's 3.30% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PMNPX PIMCO National Intermediate Municipal Bond Fund | 3.21% | 3.43% | 3.63% | 2.70% | 1.68% | 1.86% | 1.96% | 2.34% | 2.60% | 2.38% | 2.13% | 2.14% |
MUNI PIMCO Intermediate Municipal Bond Active ETF | 3.30% | 3.26% | 3.50% | 3.09% | 2.13% | 1.62% | 1.92% | 2.44% | 2.38% | 2.37% | 2.37% | 2.20% |
Drawdowns
PMNPX vs. MUNI - Drawdown Comparison
The maximum PMNPX drawdown since its inception was -11.33%, roughly equal to the maximum MUNI drawdown of -11.15%. Use the drawdown chart below to compare losses from any high point for PMNPX and MUNI.
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Drawdown Indicators
| PMNPX | MUNI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.33% | -11.15% | -0.18% |
Max Drawdown (1Y)Largest decline over 1 year | -3.48% | -2.93% | -0.55% |
Max Drawdown (5Y)Largest decline over 5 years | -11.33% | -11.15% | -0.18% |
Max Drawdown (10Y)Largest decline over 10 years | -11.33% | -11.15% | -0.18% |
Current DrawdownCurrent decline from peak | -2.27% | -1.75% | -0.52% |
Average DrawdownAverage peak-to-trough decline | -1.85% | -1.74% | -0.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.01% | 0.88% | +0.13% |
Volatility
PMNPX vs. MUNI - Volatility Comparison
The current volatility for PIMCO National Intermediate Municipal Bond Fund (PMNPX) is 0.91%, while PIMCO Intermediate Municipal Bond Active ETF (MUNI) has a volatility of 1.07%. This indicates that PMNPX experiences smaller price fluctuations and is considered to be less risky than MUNI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMNPX | MUNI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.91% | 1.07% | -0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 1.52% | 1.52% | 0.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.61% | 3.86% | -0.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.14% | 3.30% | -0.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.19% | 3.85% | -0.66% |