PMZIX vs. CLMVX
PMZIX (PIMCO Mortgage Opportunities and Bond Fund) and CLMVX (Columbia Mortgage Opportunities Fund) are both Nontraditional Bonds funds. Over the past 10 years, PMZIX returned 3.52%/yr vs 4.27%/yr for CLMVX. A 0.53 correlation means they provide meaningful diversification when combined. PMZIX charges 0.60%/yr vs 0.70%/yr for CLMVX.
Performance
PMZIX vs. CLMVX - Performance Comparison
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Returns By Period
In the year-to-date period, PMZIX achieves a 0.39% return, which is significantly lower than CLMVX's 0.66% return. Over the past 10 years, PMZIX has underperformed CLMVX with an annualized return of 3.52%, while CLMVX has yielded a comparatively higher 4.27% annualized return.
PMZIX
- 1D
- -0.22%
- 1M
- 0.35%
- YTD
- 0.39%
- 6M
- 0.87%
- 1Y
- 5.08%
- 3Y*
- 6.25%
- 5Y*
- 2.85%
- 10Y*
- 3.52%
CLMVX
- 1D
- 0.48%
- 1M
- 0.72%
- YTD
- 0.66%
- 6M
- 0.66%
- 1Y
- 6.30%
- 3Y*
- 7.77%
- 5Y*
- 0.83%
- 10Y*
- 4.27%
PMZIX vs. CLMVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PMZIX PIMCO Mortgage Opportunities and Bond Fund | 0.39% | 8.50% | 5.74% | 7.03% | -8.00% | 2.42% | 5.44% | 5.04% | 1.55% | 5.50% |
CLMVX Columbia Mortgage Opportunities Fund | 0.66% | 11.95% | 5.30% | 7.57% | -17.82% | 5.44% | 9.25% | 6.44% | 7.90% | 5.41% |
Correlation
The correlation between PMZIX and CLMVX is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since May 1, 2014 | 0.53 |
Over the past year, PMZIX and CLMVX have become more correlated (0.81) than their long-term average of 0.53, meaning their price movements have been converging.
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Return for Risk
PMZIX vs. CLMVX — Risk / Return Rank
PMZIX
CLMVX
PMZIX vs. CLMVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Mortgage Opportunities and Bond Fund (PMZIX) and Columbia Mortgage Opportunities Fund (CLMVX). 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.
| PMZIX | CLMVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.30 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.21 | 2.10 | +0.11 |
| Martin ratioReturn relative to average drawdown | 7.76 | 6.29 | +1.48 |
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Drawdowns
PMZIX vs. CLMVX - Drawdown Comparison
The maximum PMZIX drawdown since its inception was -10.44%, smaller than the maximum CLMVX drawdown of -22.15%. Use the drawdown chart below to compare losses from any high point for PMZIX and CLMVX.
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Drawdown Indicators
| PMZIX | CLMVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.44% | -22.15% | +11.71% |
Max Drawdown (1Y)Largest decline over 1 year | -2.42% | -3.20% | +0.78% |
Max Drawdown (3Y)Largest decline over 3 years | -3.53% | -6.64% | +3.11% |
Max Drawdown (5Y)Largest decline over 5 years | -10.44% | -22.13% | +11.69% |
Max Drawdown (10Y)Largest decline over 10 years | -10.44% | -22.15% | +11.71% |
Current DrawdownCurrent decline from peak | -1.20% | -1.76% | +0.56% |
Average DrawdownAverage peak-to-trough decline | -1.18% | -3.96% | +2.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 1.07% | -0.38% |
Volatility
PMZIX vs. CLMVX - Volatility Comparison
The current volatility for PIMCO Mortgage Opportunities and Bond Fund (PMZIX) is 1.18%, while Columbia Mortgage Opportunities Fund (CLMVX) has a volatility of 1.54%. This indicates that PMZIX experiences smaller price fluctuations and is considered to be less risky than CLMVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMZIX | CLMVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | 1.54% | -0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 2.54% | 3.07% | -0.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.37% | 4.18% | -0.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.87% | 6.76% | -2.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.24% | 5.55% | -2.31% |
PMZIX vs. CLMVX - Expense Ratio Comparison
PMZIX has a 0.60% expense ratio, which is lower than CLMVX's 0.70% expense ratio.
Dividends
PMZIX vs. CLMVX - Dividend Comparison
PMZIX's dividend yield for the trailing twelve months is around 5.56%, more than CLMVX's 4.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CLMVX Columbia Mortgage Opportunities Fund | 4.95% | 5.63% | 5.88% | 6.64% | 6.89% | 4.43% | 6.05% | 4.36% | 4.51% | 7.85% | 4.52% | 4.86% |
PMZIX PIMCO Mortgage Opportunities and Bond Fund | 5.56% | 5.84% | 7.59% | 6.74% | 5.87% | 3.99% | 3.96% | 4.38% | 4.34% | 3.62% | 5.24% | 4.08% |
Frequently Asked Questions
PMZIX and CLMVX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CLMVX has higher volatility (1.54%) compared to PMZIX (1.18%). In terms of maximum drawdown, PMZIX dropped -10.44% vs CLMVX's -22.15%.
CLMVX currently has the higher Sharpe Ratio (1.61 vs 1.59), 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.
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