PSAIX vs. PIMIX
PSAIX (PIMCO Global Advantage Strategy Bond Fund) and PIMIX (PIMCO Income Fund Institutional Class) are both mutual funds - PSAIX is a Global Bonds fund managed by PIMCO, while PIMIX is a Multisector Bonds fund actively managed by PIMCO. Over the past 10 years, PSAIX returned 3.52%/yr vs 4.72%/yr for PIMIX. A 0.57 correlation means they provide meaningful diversification when combined. PSAIX charges 0.65%/yr vs 0.54%/yr for PIMIX.
Performance
PSAIX vs. PIMIX - Performance Comparison
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Returns By Period
In the year-to-date period, PSAIX achieves a 0.71% return, which is significantly lower than PIMIX's 1.00% return. Over the past 10 years, PSAIX has underperformed PIMIX with an annualized return of 3.52%, while PIMIX has yielded a comparatively higher 4.72% annualized return.
PSAIX
- 1D
- 0.00%
- 1M
- 1.35%
- YTD
- 0.71%
- 6M
- 1.50%
- 1Y
- 5.90%
- 3Y*
- 6.10%
- 5Y*
- 2.04%
- 10Y*
- 3.52%
PIMIX
- 1D
- 0.09%
- 1M
- 1.19%
- YTD
- 1.00%
- 6M
- 1.60%
- 1Y
- 7.88%
- 3Y*
- 7.73%
- 5Y*
- 3.58%
- 10Y*
- 4.72%
PSAIX vs. PIMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSAIX PIMCO Global Advantage Strategy Bond Fund | 0.71% | 8.87% | 3.21% | 7.91% | -11.07% | 1.11% | 7.76% | 8.94% | -0.60% | 7.86% |
PIMIX PIMCO Income Fund Institutional Class | 1.00% | 11.08% | 5.45% | 9.36% | -9.07% | 2.62% | 5.84% | 8.10% | 0.63% | 8.63% |
Correlation
The correlation between PSAIX and PIMIX is 0.89, 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 | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Feb 6, 2009 | 0.57 |
Over the past year, PSAIX and PIMIX have become more correlated (0.89) than their long-term average of 0.57, meaning their price movements have been converging.
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Return for Risk
PSAIX vs. PIMIX — Risk / Return Rank
PSAIX
PIMIX
PSAIX vs. PIMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Global Advantage Strategy Bond Fund (PSAIX) 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.
| PSAIX | PIMIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.37 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.27 | 2.15 | -0.88 |
| Martin ratioReturn relative to average drawdown | 4.09 | 7.27 | -3.18 |
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Drawdowns
PSAIX vs. PIMIX - Drawdown Comparison
The maximum PSAIX drawdown since its inception was -15.35%, which is greater than PIMIX's maximum drawdown of -13.39%. Use the drawdown chart below to compare losses from any high point for PSAIX and PIMIX.
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Drawdown Indicators
| PSAIX | PIMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.35% | -13.39% | -1.96% |
Max Drawdown (1Y)Largest decline over 1 year | -4.61% | -3.69% | -0.92% |
Max Drawdown (3Y)Largest decline over 3 years | -4.61% | -3.84% | -0.77% |
Max Drawdown (5Y)Largest decline over 5 years | -15.35% | -13.34% | -2.01% |
Max Drawdown (10Y)Largest decline over 10 years | -15.35% | -13.39% | -1.96% |
Current DrawdownCurrent decline from peak | -1.40% | -0.93% | -0.47% |
Average DrawdownAverage peak-to-trough decline | -3.31% | -1.69% | -1.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.42% | 1.09% | +0.33% |
Volatility
PSAIX vs. PIMIX - Volatility Comparison
PIMCO Global Advantage Strategy Bond Fund (PSAIX) and PIMCO Income Fund Institutional Class (PIMIX) have volatilities of 1.37% and 1.42%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSAIX | PIMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.37% | 1.42% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 3.84% | 3.39% | +0.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.32% | 4.17% | +0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.99% | 4.86% | -0.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.67% | 4.26% | -0.59% |
PSAIX vs. PIMIX - Expense Ratio Comparison
PSAIX has a 0.65% expense ratio, which is higher than PIMIX's 0.54% expense ratio.
Dividends
PSAIX vs. PIMIX - Dividend Comparison
PSAIX's dividend yield for the trailing twelve months is around 4.27%, less than PIMIX's 5.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PIMIX PIMCO Income Fund Institutional Class | 5.83% | 6.01% | 6.27% | 6.21% | 4.98% | 4.02% | 4.88% | 5.83% | 5.66% | 5.37% | 5.52% | 7.88% |
PSAIX PIMCO Global Advantage Strategy Bond Fund | 4.27% | 4.22% | 3.66% | 3.14% | 4.10% | 4.61% | 2.20% | 2.79% | 2.43% | 1.83% | 2.03% | 2.52% |
Frequently Asked Questions
PSAIX and PIMIX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PIMIX has higher volatility (1.42%) compared to PSAIX (1.37%). In terms of maximum drawdown, PSAIX dropped -15.35% vs PIMIX's -13.39%.
PIMIX currently has the higher Sharpe Ratio (1.91 vs 1.35), 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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