VGMS vs. PIMIX

Last updated Jun 4, 2026

VGMS (Vanguard Multi-Sector Income Bond ETF) and PIMIX (PIMCO Income Fund Institutional Class) are both funds - VGMS is a Multisector Bonds fund actively managed by Vanguard, while PIMIX is a Total Bond Market fund managed by PIMCO. A 0.74 correlation means they provide meaningful diversification when combined. VGMS charges 0.30%/yr vs 0.62%/yr for PIMIX.

Performance

VGMS vs. PIMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Multi-Sector Income Bond ETF (VGMS) and PIMCO Income Fund Institutional Class (PIMIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VGMS achieves a 1.06% return, which is significantly higher than PIMIX's 1.00% return.

VGMS

• 1D: -0.36%
• 1M: 0.29%
• YTD: 1.06%
• 6M: 1.35%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PIMIX

• 1D: 0.18%
• 1M: 0.91%
• YTD: 1.00%
• 6M: 1.41%
• 1Y: 8.39%
• 3Y*: 7.87%
• 5Y*: 3.53%
• 10Y*: 4.71%

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

VGMS vs. PIMIX - Yearly Performance Comparison

	2026 (YTD)	2025
VGMS Vanguard Multi-Sector Income Bond ETF	1.06%	5.44%
PIMIX PIMCO Income Fund Institutional Class	1.00%	6.82%

Correlation

The correlation between VGMS and PIMIX is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 12, 2025	0.74

Return for Risk

VGMS vs. PIMIX — Risk / Return Rank

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

PIMIX

PIMIX Risk / Return Rank: 45
PIMIX Sharpe Ratio Rank: 48
PIMIX Sortino Ratio Rank: 53
PIMIX Omega Ratio Rank: 52
PIMIX Calmar Ratio Rank: 37
PIMIX Martin Ratio Rank: 36

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.

VGMS vs. PIMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Multi-Sector Income Bond ETF (VGMS) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	VGMS	PIMIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.04	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.73	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.11	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.11	1.57	+0.54

Drawdowns

VGMS vs. PIMIX - Drawdown Comparison

The maximum VGMS drawdown since its inception was -2.46%, smaller than the maximum PIMIX drawdown of -13.39%. Use the drawdown chart below to compare losses from any high point for VGMS and PIMIX.

Drawdown Indicators

	VGMS	PIMIX	Difference
Max Drawdown Largest peak-to-trough decline	-2.46%	-13.39%	+10.93%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.69%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-3.84%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-13.34%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-13.39%	—
Current Drawdown Current decline from peak	-0.39%	-0.93%	+0.54%
Average Drawdown Average peak-to-trough decline	-0.31%	-1.69%	+1.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.06%	—

Volatility

Volatility by Period

	VGMS	PIMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.68%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.29%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.21%	4.15%	-0.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.21%	4.84%	-1.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.21%	4.25%	-1.04%

VGMS vs. PIMIX - Expense Ratio Comparison

VGMS has a 0.30% expense ratio, which is lower than PIMIX's 0.62% expense ratio.

Dividends

VGMS vs. PIMIX - Dividend Comparison

VGMS's dividend yield for the trailing twelve months is around 5.16%, 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%
VGMS Vanguard Multi-Sector Income Bond ETF	5.16%	2.94%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VGMS and PIMIX in my portfolio?

VGMS and PIMIX 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.