PSRAX vs. MUNI
Compare and contrast key facts about Pioneer Strategic Income Fund (PSRAX) and PIMCO Intermediate Municipal Bond Active ETF (MUNI).
PSRAX is managed by Amundi US. It was launched on Apr 14, 1999. MUNI is an actively managed fund by PIMCO. It was launched on Nov 30, 2009.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PSRAX or MUNI.
Key characteristics
| PSRAX | MUNI | |
|---|---|---|
| YTD Return | 7.40% | 2.52% |
| 1Y Return | 14.10% | 8.24% |
| 3Y Return (Ann) | 0.15% | 0.59% |
| 5Y Return (Ann) | 2.47% | 1.65% |
| 10Y Return (Ann) | 2.91% | 2.37% |
| Sharpe Ratio | 2.11 | 2.43 |
| Daily Std Dev | 6.68% | 3.38% |
| Max Drawdown | -18.33% | -11.15% |
| Current Drawdown | -0.30% | 0.00% |
Correlation
The correlation between PSRAX and MUNI is 0.36, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
PSRAX vs. MUNI - Performance Comparison
In the year-to-date period, PSRAX achieves a 7.40% return, which is significantly higher than MUNI's 2.52% return. Over the past 10 years, PSRAX has outperformed MUNI with an annualized return of 2.91%, while MUNI has yielded a comparatively lower 2.37% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PSRAX vs. MUNI - Expense Ratio Comparison
PSRAX has a 1.01% expense ratio, which is higher than MUNI's 0.35% expense ratio.
Risk-Adjusted Performance
PSRAX vs. MUNI - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Pioneer Strategic Income Fund (PSRAX) 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.
Dividends
PSRAX vs. MUNI - Dividend Comparison
PSRAX's dividend yield for the trailing twelve months is around 3.84%, less than MUNI's 3.91% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PSRAX Pioneer Strategic Income Fund | 3.84% | 3.48% | 3.08% | 8.36% | 3.28% | 2.87% | 3.15% | 3.20% | 3.39% | 3.62% | 5.40% | 5.90% |
MUNI PIMCO Intermediate Municipal Bond Active ETF | 3.91% | 3.63% | 2.13% | 1.62% | 1.92% | 2.44% | 2.57% | 2.37% | 2.37% | 2.20% | 1.91% | 2.30% |
Drawdowns
PSRAX vs. MUNI - Drawdown Comparison
The maximum PSRAX drawdown since its inception was -18.33%, which is greater than MUNI's maximum drawdown of -11.15%. Use the drawdown chart below to compare losses from any high point for PSRAX and MUNI. For additional features, visit the drawdowns tool.
Volatility
PSRAX vs. MUNI - Volatility Comparison
Pioneer Strategic Income Fund (PSRAX) has a higher volatility of 1.29% compared to PIMCO Intermediate Municipal Bond Active ETF (MUNI) at 0.44%. This indicates that PSRAX's price experiences larger fluctuations and is considered to be riskier than MUNI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.