SBPAX vs. FXIEX
SBPAX (Western Asset Pennsylvania Municipals Fund) and FXIEX (PIMCO Fixed Income SHares: Series TE) are both Municipal Bonds funds. Over the past 10 years, SBPAX returned 1.54%/yr vs 2.71%/yr for FXIEX. Their 0.72 correlation means they have sometimes moved together and sometimes differently. SBPAX charges 0.80%/yr vs 0.07%/yr for FXIEX.
Performance
SBPAX vs. FXIEX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SBPAX achieves a 0.63% return, which is significantly lower than FXIEX's 0.97% return. Over the past 10 years, SBPAX has underperformed FXIEX with an annualized return of 1.54%, while FXIEX has yielded a comparatively higher 2.71% annualized return.
SBPAX
- 1D
- -0.17%
- 1M
- -1.59%
- 6M
- 0.13%
- YTD
- 0.63%
- 1Y
- 5.72%
- 3Y*
- 3.38%
- 5Y*
- 0.02%
- 10Y*
- 1.54%
- ALL TIME*
- 4.15%
FXIEX
- 1D
- -0.21%
- 1M
- -1.62%
- 6M
- 0.66%
- YTD
- 0.97%
- 1Y
- 5.57%
- 3Y*
- 4.44%
- 5Y*
- 1.26%
- 10Y*
- 2.71%
- ALL TIME*
- 2.11%
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 |
SBPAX vs. FXIEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SBPAX Western Asset Pennsylvania Municipals Fund | 0.63% | 4.71% | 2.58% | 4.43% | -10.82% | 1.75% | 3.89% | 6.91% | 1.08% | 4.48% |
FXIEX PIMCO Fixed Income SHares: Series TE | 0.97% | 3.37% | 5.16% | 8.92% | -10.89% | 2.19% | 7.22% | 8.45% | 1.00% | 7.71% |
Correlation
The correlation between SBPAX and FXIEX is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.74 |
Correlation (3Y) Balances recent behavior with more history. | 0.81 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.84 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.82 |
Correlation (All Time) Calculated using the full available price history since Jun 25, 2012 | 0.72 |
The correlation between SBPAX and FXIEX shifts across timeframes, from 0.72 (all time) to 0.84 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SBPAX vs. FXIEX — Risk / Return Rank
SBPAX
FXIEX
SBPAX vs. FXIEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Western Asset Pennsylvania Municipals Fund (SBPAX) and PIMCO Fixed Income SHares: Series TE (FXIEX). 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.
| SBPAX | FXIEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.38 | ||
| Sortino ratioReturn per unit of downside risk | +0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.64 | 1.54 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.81 | 3.16 | -0.35 |
| Martin ratioReturn relative to average drawdown | 9.99 | 10.57 | -0.58 |
Loading charts...
Drawdowns
SBPAX vs. FXIEX - Drawdown Comparison
The maximum SBPAX drawdown since its inception was -15.97%, roughly equal to the maximum FXIEX drawdown of -15.25%. Use the drawdown chart below to compare losses from any high point for SBPAX and FXIEX.
Loading charts...
Drawdown Indicators
| SBPAX | FXIEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.97% | -15.25% | -0.72% |
Max Drawdown (1Y)Largest decline over 1 year | -2.34% | -2.42% | +0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -5.79% | -5.56% | -0.23% |
Max Drawdown (5Y)Largest decline over 5 years | -15.97% | -15.25% | -0.72% |
Max Drawdown (10Y)Largest decline over 10 years | -15.97% | -15.25% | -0.72% |
Current DrawdownCurrent decline from peak | -1.59% | -1.62% | +0.03% |
Average DrawdownAverage peak-to-trough decline | -2.02% | -2.87% | +0.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 0.74% | -0.08% |
Volatility
SBPAX vs. FXIEX - Volatility Comparison
Western Asset Pennsylvania Municipals Fund (SBPAX) and PIMCO Fixed Income SHares: Series TE (FXIEX) have volatilities of 0.81% and 0.83%, 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.
Loading charts...
Volatility by Period
| SBPAX | FXIEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.81% | 0.83% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 1.92% | 2.36% | -0.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.52% | 3.43% | -0.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.92% | 4.39% | -0.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.84% | 4.10% | -0.26% |
SBPAX vs. FXIEX - Expense Ratio Comparison
SBPAX has a 0.80% expense ratio, which is higher than FXIEX's 0.07% expense ratio.
Dividends
SBPAX vs. FXIEX - Dividend Comparison
SBPAX's dividend yield for the trailing twelve months is around 2.45%, more than FXIEX's 2.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXIEX PIMCO Fixed Income SHares: Series TE | 2.40% | 2.75% | 4.53% | 3.98% | 3.25% | 2.63% | 3.37% | 3.63% | 3.79% | 2.67% | 0.00% | 0.00% |
SBPAX Western Asset Pennsylvania Municipals Fund | 2.45% | 3.51% | 2.80% | 2.48% | 2.08% | 1.82% | 2.40% | 3.13% | 3.36% | 3.51% | 3.63% | 3.63% |
Frequently Asked Questions
SBPAX and FXIEX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXIEX has higher volatility (0.83%) compared to SBPAX (0.81%). In terms of maximum drawdown, SBPAX dropped -15.97% vs FXIEX's -15.25%.
SBPAX currently has the higher Sharpe Ratio (2.61 vs 2.23), 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.
Find the right allocation for SBPAX and FXIEX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer