PYACX vs. PIMIX
PYACX (Payden Corporate Bond Fund) and PIMIX (PIMCO Income Fund Institutional Class) are both mutual funds - PYACX is a Corporate Bonds fund managed by Paydenfunds, while PIMIX is a Multisector Bonds fund actively managed by PIMCO. Over the past 10 years, PYACX returned 2.52%/yr vs 4.44%/yr for PIMIX. Their 0.56 correlation means they have sometimes moved together and sometimes differently. PYACX charges 0.65%/yr vs 0.54%/yr for PIMIX.
Performance
PYACX vs. PIMIX - Performance Comparison
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Returns By Period
In the year-to-date period, PYACX achieves a -0.90% return, which is significantly lower than PIMIX's 0.23% return. Over the past 10 years, PYACX has underperformed PIMIX with an annualized return of 2.52%, while PIMIX has yielded a comparatively higher 4.44% annualized return.
PYACX
- 1D
- 0.09%
- 1M
- -1.45%
- 6M
- -1.26%
- YTD
- -0.90%
- 1Y
- 1.50%
- 3Y*
- 4.74%
- 5Y*
- -0.25%
- 10Y*
- 2.52%
- ALL TIME*
- 4.18%
PIMIX
- 1D
- 0.09%
- 1M
- -1.20%
- 6M
- -0.36%
- YTD
- 0.23%
- 1Y
- 4.60%
- 3Y*
- 6.91%
- 5Y*
- 3.23%
- 10Y*
- 4.44%
- ALL TIME*
- 6.59%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PYACX vs. PIMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PYACX Payden Corporate Bond Fund | -0.90% | 7.39% | 3.17% | 8.53% | -16.33% | -0.08% | 8.64% | 14.46% | -3.05% | 8.53% |
PIMIX PIMCO Income Fund Institutional Class | 0.23% | 11.08% | 5.45% | 9.36% | -9.07% | 2.62% | 5.84% | 8.10% | 0.63% | 8.63% |
Correlation
The correlation between PYACX and PIMIX is 0.82, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.82 |
Correlation (3Y) Balances recent behavior with more history. | 0.82 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.78 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2010 | 0.56 |
Over the past year, PYACX and PIMIX have become more correlated (0.82) than their long-term average of 0.56, meaning their price movements have been converging.
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Return for Risk
PYACX vs. PIMIX — Risk / Return Rank
PYACX
PIMIX
PYACX vs. PIMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Payden Corporate Bond Fund (PYACX) 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.
| PYACX | PIMIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.86 | ||
| Sortino ratioReturn per unit of downside risk | -1.25 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.27 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.73 | 1.59 | -0.86 |
| Martin ratioReturn relative to average drawdown | 1.97 | 5.07 | -3.10 |
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Drawdowns
PYACX vs. PIMIX - Drawdown Comparison
The maximum PYACX drawdown since its inception was -22.90%, which is greater than PIMIX's maximum drawdown of -13.39%. Use the drawdown chart below to compare losses from any high point for PYACX and PIMIX.
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Drawdown Indicators
| PYACX | PIMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.90% | -13.39% | -9.51% |
Max Drawdown (1Y)Largest decline over 1 year | -3.20% | -3.69% | +0.49% |
Max Drawdown (3Y)Largest decline over 3 years | -5.29% | -3.69% | -1.60% |
Max Drawdown (5Y)Largest decline over 5 years | -22.90% | -13.34% | -9.56% |
Max Drawdown (10Y)Largest decline over 10 years | -22.90% | -13.39% | -9.51% |
Current DrawdownCurrent decline from peak | -2.73% | -1.69% | -1.04% |
Average DrawdownAverage peak-to-trough decline | -3.82% | -1.68% | -2.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.19% | 1.15% | +0.04% |
Volatility
PYACX vs. PIMIX - Volatility Comparison
The current volatility for Payden Corporate Bond Fund (PYACX) is 1.05%, while PIMCO Income Fund Institutional Class (PIMIX) has a volatility of 1.15%. This indicates that PYACX experiences smaller price fluctuations and is considered to be less risky than PIMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PYACX | PIMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | 1.15% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 3.34% | 3.55% | -0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.23% | 4.14% | +0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.65% | 4.89% | +1.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.87% | 4.26% | +1.61% |
PYACX vs. PIMIX - Expense Ratio Comparison
PYACX has a 0.65% expense ratio, which is higher than PIMIX's 0.54% expense ratio.
Dividends
PYACX vs. PIMIX - Dividend Comparison
PYACX's dividend yield for the trailing twelve months is around 4.72%, less than PIMIX's 5.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PIMIX PIMCO Income Fund Institutional Class | 5.32% | 6.01% | 6.27% | 6.21% | 4.98% | 4.02% | 4.88% | 5.83% | 5.66% | 5.37% | 5.52% | 7.88% |
PYACX Payden Corporate Bond Fund | 4.72% | 4.54% | 4.59% | 3.89% | 3.35% | 5.32% | 3.87% | 3.37% | 3.65% | 3.92% | 5.49% | 4.36% |
Frequently Asked Questions
PYACX and PIMIX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PIMIX has higher volatility (1.15%) compared to PYACX (1.05%). In terms of maximum drawdown, PYACX dropped -22.90% vs PIMIX's -13.39%.
PIMIX currently has the higher Sharpe Ratio (1.42 vs 0.55), 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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