SEMPX vs. PUTIX

Last updated Jun 5, 2026

SEMPX (Semper MBS Total Return Fund) and PUTIX (PIMCO Strategic Bond Fund) are both Nontraditional Bonds funds. Over the past 10 years, SEMPX returned 3.55%/yr vs 4.00%/yr for PUTIX. At a 0.31 correlation, their price movements are largely independent. SEMPX charges 1.07%/yr vs 0.51%/yr for PUTIX.

Performance

SEMPX vs. PUTIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Semper MBS Total Return Fund (SEMPX) and PIMCO Strategic Bond Fund (PUTIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SEMPX achieves a 0.90% return, which is significantly lower than PUTIX's 1.26% return. Over the past 10 years, SEMPX has underperformed PUTIX with an annualized return of 3.55%, while PUTIX has yielded a comparatively higher 4.00% annualized return.

SEMPX

• 1D: -0.12%
• 1M: 0.00%
• YTD: 0.90%
• 6M: 1.36%
• 1Y: 6.21%
• 3Y*: 9.67%
• 5Y*: 4.34%
• 10Y*: 3.55%

PUTIX

• 1D: -0.18%
• 1M: 0.53%
• YTD: 1.26%
• 6M: 1.93%
• 1Y: 6.68%
• 3Y*: 6.81%
• 5Y*: 2.94%
• 10Y*: 4.00%

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

SEMPX vs. PUTIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SEMPX Semper MBS Total Return Fund	0.90%	8.57%	12.84%	12.51%	-13.26%	6.70%	-7.09%	4.52%	3.75%	5.93%
PUTIX PIMCO Strategic Bond Fund	1.26%	8.12%	6.35%	6.65%	-6.51%	0.44%	4.33%	5.24%	3.34%	7.87%

Correlation

The correlation between SEMPX and PUTIX is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (10Y) Calculated over the trailing 10-year period	0.37
Correlation (All Time) Calculated using the full available price history since Jan 3, 2014	0.31

Over the past year, SEMPX and PUTIX have become more correlated (0.68) than their long-term average of 0.31, meaning their price movements have been converging.

Return for Risk

SEMPX vs. PUTIX — Risk / Return Rank

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

SEMPX

SEMPX Risk / Return Rank: 73
SEMPX Sharpe Ratio Rank: 69
SEMPX Sortino Ratio Rank: 90
SEMPX Omega Ratio Rank: 82
SEMPX Calmar Ratio Rank: 73
SEMPX Martin Ratio Rank: 53

PUTIX

PUTIX Risk / Return Rank: 91
PUTIX Sharpe Ratio Rank: 86
PUTIX Sortino Ratio Rank: 95
PUTIX Omega Ratio Rank: 94
PUTIX Calmar Ratio Rank: 87
PUTIX Martin Ratio Rank: 91

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.

SEMPX vs. PUTIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Semper MBS Total Return Fund (SEMPX) and PIMCO Strategic Bond Fund (PUTIX). 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.

	SEMPX	PUTIX	Difference
Sharpe ratio: Return per unit of total volatility	2.38	2.81	-0.43
Sortino ratio: Return per unit of downside risk	4.39	5.12	-0.73
Omega ratio: Gain probability vs. loss probability	1.54	1.74	-0.20
Calmar ratio: Return relative to maximum drawdown	3.24	4.21	-0.98
Martin ratio: Return relative to average drawdown	10.49	18.34	-7.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SEMPX vs. PUTIX - Sharpe Ratio Comparison

The current SEMPX Sharpe Ratio is 2.38, which is comparable to the PUTIX Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of SEMPX and PUTIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SEMPX	PUTIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.38	2.81	-0.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.40	1.07	+0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.91	1.47	-0.56
Sharpe Ratio (All Time) Calculated using the full available price history	1.09	1.10	-0.01

Drawdowns

SEMPX vs. PUTIX - Drawdown Comparison

The maximum SEMPX drawdown since its inception was -25.02%, which is greater than PUTIX's maximum drawdown of -9.59%. Use the drawdown chart below to compare losses from any high point for SEMPX and PUTIX.

Drawdown Indicators

	SEMPX	PUTIX	Difference
Max Drawdown Largest peak-to-trough decline	-25.02%	-9.59%	-15.43%
Max Drawdown (1Y) Largest decline over 1 year	-2.04%	-1.65%	-0.39%
Max Drawdown (3Y) Largest decline over 3 years	-2.04%	-1.96%	-0.08%
Max Drawdown (5Y) Largest decline over 5 years	-14.67%	-9.59%	-5.08%
Max Drawdown (10Y) Largest decline over 10 years	-25.02%	-9.59%	-15.43%
Current Drawdown Current decline from peak	-0.80%	-0.18%	-0.62%
Average Drawdown Average peak-to-trough decline	-3.27%	-1.24%	-2.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.63%	0.38%	+0.25%

Volatility

SEMPX vs. PUTIX - Volatility Comparison

Semper MBS Total Return Fund (SEMPX) and PIMCO Strategic Bond Fund (PUTIX) have volatilities of 0.94% and 0.92%, 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.

Volatility by Period

	SEMPX	PUTIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.94%	0.92%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	2.06%	1.96%	+0.10%
Volatility (1Y) Calculated over the trailing 1-year period	2.78%	2.47%	+0.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.12%	2.76%	+0.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.92%	2.72%	+1.20%

SEMPX vs. PUTIX - Expense Ratio Comparison

SEMPX has a 1.07% expense ratio, which is higher than PUTIX's 0.51% expense ratio.

Dividends

SEMPX vs. PUTIX - Dividend Comparison

SEMPX's dividend yield for the trailing twelve months is around 5.71%, more than PUTIX's 4.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PUTIX PIMCO Strategic Bond Fund	4.68%	4.56%	4.19%	2.36%	2.32%	1.17%	2.07%	3.31%	2.81%	4.62%	2.58%	4.60%
SEMPX Semper MBS Total Return Fund	5.71%	5.83%	6.66%	8.75%	6.15%	2.97%	4.07%	4.72%	5.65%	5.00%	5.94%	5.10%

Frequently Asked Questions

Can I hold both SEMPX and PUTIX in my portfolio?

SEMPX and PUTIX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SEMPX or PUTIX?

SEMPX has higher volatility (0.94%) compared to PUTIX (0.92%). In terms of maximum drawdown, SEMPX dropped -25.02% vs PUTIX's -9.59%.

Which has better risk-adjusted returns?

PUTIX currently has the higher Sharpe Ratio (2.81 vs 2.38), 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.