PQTPX vs. PIMIX

Last updated Jun 25, 2026

PQTPX (PIMCO TRENDS Managed Futures Strategy Fund) and PIMIX (PIMCO Income Fund Institutional Class) are both mutual funds - PQTPX is a Systematic Trend fund managed by PIMCO, while PIMIX is a Multisector Bonds fund actively managed by PIMCO. Over the past 10 years, PQTPX returned 4.15%/yr vs 4.73%/yr for PIMIX. At a correlation of -0.09, they often move in opposite directions. PQTPX charges 1.51%/yr vs 0.54%/yr for PIMIX.

Performance

PQTPX vs. PIMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO TRENDS Managed Futures Strategy Fund (PQTPX) and PIMCO Income Fund Institutional Class (PIMIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PQTPX achieves a 5.10% return, which is significantly higher than PIMIX's 0.81% return. Over the past 10 years, PQTPX has underperformed PIMIX with an annualized return of 4.15%, while PIMIX has yielded a comparatively higher 4.73% annualized return.

PQTPX

• 1D: -0.90%
• 1M: -0.69%
• YTD: 5.10%
• 6M: 5.60%
• 1Y: 18.62%
• 3Y*: 0.70%
• 5Y*: 3.42%
• 10Y*: 4.15%

PIMIX

• 1D: 0.09%
• 1M: 1.01%
• YTD: 0.81%
• 6M: 1.23%
• 1Y: 6.98%
• 3Y*: 7.63%
• 5Y*: 3.49%
• 10Y*: 4.73%

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

PQTPX vs. PIMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PQTPX PIMCO TRENDS Managed Futures Strategy Fund	5.10%	2.41%	-3.08%	-4.21%	11.37%	14.83%	9.72%	2.83%	2.30%	2.21%
PIMIX PIMCO Income Fund Institutional Class	0.81%	11.08%	5.45%	9.36%	-9.07%	2.62%	5.84%	8.10%	0.63%	8.63%

Correlation

The correlation between PQTPX and PIMIX is -0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.00
Correlation (3Y) Calculated over the trailing 3-year period	-0.07
Correlation (5Y) Calculated over the trailing 5-year period	-0.20
Correlation (10Y) Calculated over the trailing 10-year period	-0.11
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014	-0.09

The correlation between PQTPX and PIMIX shifts across timeframes, from -0.20 (5 years) to -0.00 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

PQTPX vs. PIMIX — Risk / Return Rank

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

PQTPX

PQTPX Risk / Return Rank: 73
PQTPX Sharpe Ratio Rank: 75
PQTPX Sortino Ratio Rank: 67
PQTPX Omega Ratio Rank: 71
PQTPX Calmar Ratio Rank: 89
PQTPX Martin Ratio Rank: 64

PIMIX

PIMIX Risk / Return Rank: 40
PIMIX Sharpe Ratio Rank: 43
PIMIX Sortino Ratio Rank: 47
PIMIX Omega Ratio Rank: 46
PIMIX Calmar Ratio Rank: 33
PIMIX Martin Ratio Rank: 32

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.

PQTPX vs. PIMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO TRENDS Managed Futures Strategy Fund (PQTPX) and PIMCO Income Fund Institutional Class (PIMIX). 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.

	PQTPX	PIMIX	Difference
Sharpe ratio: Return per unit of total volatility	2.28	1.78	+0.50
Sortino ratio: Return per unit of downside risk	3.03	2.66	+0.37
Omega ratio: Gain probability vs. loss probability	1.42	1.34	+0.08
Calmar ratio: Return relative to maximum drawdown	4.19	2.02	+2.18
Martin ratio: Return relative to average drawdown	11.41	6.78	+4.63

PQTPX vs. PIMIX - Sharpe Ratio Comparison

The current PQTPX Sharpe Ratio is 2.28, which is comparable to the PIMIX Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of PQTPX and PIMIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PQTPX vs. PIMIX - Drawdown Comparison

The maximum PQTPX drawdown since its inception was -27.86%, which is greater than PIMIX's maximum drawdown of -13.39%. Use the drawdown chart below to compare losses from any high point for PQTPX and PIMIX.

Drawdown Indicators

	PQTPX	PIMIX	Difference
Max Drawdown Largest peak-to-trough decline	-27.86%	-13.39%	-14.47%
Max Drawdown (1Y) Largest decline over 1 year	-4.66%	-3.69%	-0.97%
Max Drawdown (3Y) Largest decline over 3 years	-18.69%	-3.84%	-14.85%
Max Drawdown (5Y) Largest decline over 5 years	-27.86%	-13.34%	-14.52%
Max Drawdown (10Y) Largest decline over 10 years	-27.86%	-13.39%	-14.47%
Current Drawdown Current decline from peak	-12.29%	-1.12%	-11.17%
Average Drawdown Average peak-to-trough decline	-9.42%	-1.69%	-7.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.71%	1.09%	+0.62%

Volatility

PQTPX vs. PIMIX - Volatility Comparison

PIMCO TRENDS Managed Futures Strategy Fund (PQTPX) has a higher volatility of 2.17% compared to PIMCO Income Fund Institutional Class (PIMIX) at 1.34%. This indicates that PQTPX's price experiences larger fluctuations and is considered to be riskier than PIMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PQTPX	PIMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.17%	1.34%	+0.83%
Volatility (6M) Calculated over the trailing 6-month period	6.87%	3.41%	+3.46%
Volatility (1Y) Calculated over the trailing 1-year period	8.57%	4.18%	+4.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.92%	4.87%	+5.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.29%	4.26%	+5.03%

PQTPX vs. PIMIX - Expense Ratio Comparison

PQTPX has a 1.51% expense ratio, which is higher than PIMIX's 0.54% expense ratio.

Dividends

PQTPX vs. PIMIX - Dividend Comparison

PQTPX's dividend yield for the trailing twelve months is around 1.28%, less than PIMIX's 5.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PIMIX PIMCO Income Fund Institutional Class	5.84%	6.01%	6.27%	6.21%	4.98%	4.02%	4.88%	5.83%	5.66%	5.37%	5.52%	7.88%
PQTPX PIMCO TRENDS Managed Futures Strategy Fund	1.28%	0.00%	0.00%	0.00%	14.80%	2.40%	5.63%	2.49%	0.32%	0.20%	0.00%	7.57%

Frequently Asked Questions

Can I hold both PQTPX and PIMIX in my portfolio?

PQTPX and PIMIX have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PQTPX or PIMIX?

PQTPX has higher volatility (2.17%) compared to PIMIX (1.34%). In terms of maximum drawdown, PQTPX dropped -27.86% vs PIMIX's -13.39%.

Which has better risk-adjusted returns?

PQTPX currently has the higher Sharpe Ratio (2.28 vs 1.78), 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.