VIEIX vs. PIMIX

Last updated Jun 14, 2026

VIEIX (Vanguard Extended Market Index Fund Institutional Shares) and PIMIX (PIMCO Income Fund Institutional Class) are both mutual funds - VIEIX is a Mid Cap Blend Equities fund managed by Vanguard, while PIMIX is a Multisector Bonds fund actively managed by PIMCO. Over the past 10 years, VIEIX returned 12.24%/yr vs 4.70%/yr for PIMIX. At a 0.15 correlation, their price movements are largely independent. VIEIX charges 0.05%/yr vs 0.54%/yr for PIMIX.

Performance

VIEIX vs. PIMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Extended Market Index Fund Institutional Shares (VIEIX) 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, VIEIX achieves a 13.86% return, which is significantly higher than PIMIX's 0.91% return. Over the past 10 years, VIEIX has outperformed PIMIX with an annualized return of 12.24%, while PIMIX has yielded a comparatively lower 4.70% annualized return.

VIEIX

• 1D: 2.96%
• 1M: 5.63%
• YTD: 13.86%
• 6M: 11.71%
• 1Y: 29.57%
• 3Y*: 18.99%
• 5Y*: 6.07%
• 10Y*: 12.24%

PIMIX

• 1D: 0.56%
• 1M: 1.76%
• YTD: 0.91%
• 6M: 1.78%
• 1Y: 7.88%
• 3Y*: 7.70%
• 5Y*: 3.44%
• 10Y*: 4.70%

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

VIEIX vs. PIMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VIEIX Vanguard Extended Market Index Fund Institutional Shares	13.86%	11.42%	15.49%	26.97%	-26.46%	12.46%	32.24%	28.05%	-9.36%	18.12%
PIMIX PIMCO Income Fund Institutional Class	0.91%	11.08%	5.45%	9.36%	-9.07%	2.62%	5.84%	8.10%	0.63%	8.63%

Correlation

The correlation between VIEIX and PIMIX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (10Y) Calculated over the trailing 10-year period	0.31
Correlation (All Time) Calculated using the full available price history since Apr 2, 2007	0.15

Over the past year, VIEIX and PIMIX have become more correlated (0.41) than their long-term average of 0.15, meaning their price movements have been converging.

Return for Risk

VIEIX vs. PIMIX — Risk / Return Rank

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

VIEIX

VIEIX Risk / Return Rank: 51
VIEIX Sharpe Ratio Rank: 44
VIEIX Sortino Ratio Rank: 43
VIEIX Omega Ratio Rank: 39
VIEIX Calmar Ratio Rank: 70
VIEIX Martin Ratio Rank: 58

PIMIX

PIMIX Risk / Return Rank: 60
PIMIX Sharpe Ratio Rank: 67
PIMIX Sortino Ratio Rank: 73
PIMIX Omega Ratio Rank: 71
PIMIX Calmar Ratio Rank: 47
PIMIX Martin Ratio Rank: 41

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.

VIEIX vs. PIMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Extended Market Index Fund Institutional Shares (VIEIX) 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.

	VIEIX	PIMIX	Difference
Sharpe ratio: Return per unit of total volatility	1.53	1.88	-0.35
Sortino ratio: Return per unit of downside risk	2.16	2.83	-0.67
Omega ratio: Gain probability vs. loss probability	1.26	1.36	-0.10
Calmar ratio: Return relative to maximum drawdown	2.66	2.12	+0.53
Martin ratio: Return relative to average drawdown	9.32	7.21	+2.11

VIEIX vs. PIMIX - Sharpe Ratio Comparison

The current VIEIX Sharpe Ratio is 1.53, which is comparable to the PIMIX Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of VIEIX and PIMIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VIEIX vs. PIMIX - Drawdown Comparison

The maximum VIEIX drawdown since its inception was -58.03%, which is greater than PIMIX's maximum drawdown of -13.39%. Use the drawdown chart below to compare losses from any high point for VIEIX and PIMIX.

Drawdown Indicators

	VIEIX	PIMIX	Difference
Max Drawdown Largest peak-to-trough decline	-58.03%	-13.39%	-44.64%
Max Drawdown (1Y) Largest decline over 1 year	-10.25%	-3.69%	-6.56%
Max Drawdown (3Y) Largest decline over 3 years	-26.84%	-3.84%	-23.00%
Max Drawdown (5Y) Largest decline over 5 years	-36.32%	-13.34%	-22.98%
Max Drawdown (10Y) Largest decline over 10 years	-41.62%	-13.39%	-28.23%
Current Drawdown Current decline from peak	-1.04%	-1.02%	-0.02%
Average Drawdown Average peak-to-trough decline	-13.82%	-1.69%	-12.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.92%	1.08%	+1.84%

Volatility

VIEIX vs. PIMIX - Volatility Comparison

Vanguard Extended Market Index Fund Institutional Shares (VIEIX) has a higher volatility of 6.48% compared to PIMCO Income Fund Institutional Class (PIMIX) at 1.67%. This indicates that VIEIX's price experiences larger fluctuations and is considered to be riskier than PIMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VIEIX	PIMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.48%	1.67%	+4.81%
Volatility (6M) Calculated over the trailing 6-month period	13.35%	3.37%	+9.98%
Volatility (1Y) Calculated over the trailing 1-year period	17.81%	4.17%	+13.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.43%	4.86%	+17.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.40%	4.26%	+18.14%

VIEIX vs. PIMIX - Expense Ratio Comparison

VIEIX has a 0.05% expense ratio, which is lower than PIMIX's 0.54% expense ratio.

Dividends

VIEIX vs. PIMIX - Dividend Comparison

VIEIX's dividend yield for the trailing twelve months is around 1.02%, 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%
VIEIX Vanguard Extended Market Index Fund Institutional Shares	1.02%	1.14%	1.10%	1.26%	1.16%	1.14%	1.08%	1.31%	1.67%	1.27%	1.45%	1.37%

Frequently Asked Questions

Can I hold both VIEIX and PIMIX in my portfolio?

VIEIX and PIMIX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VIEIX or PIMIX?

VIEIX has higher volatility (6.48%) compared to PIMIX (1.67%). In terms of maximum drawdown, VIEIX dropped -58.03% vs PIMIX's -13.39%.

Which has better risk-adjusted returns?

PIMIX currently has the higher Sharpe Ratio (1.88 vs 1.53), 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.