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VUSXX vs. PIMIX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VUSXX vs. PIMIX

Last updated Jun 14, 2026

VUSXX (Vanguard Treasury Money Market Fund) and PIMIX (PIMCO Income Fund Institutional Class) are both mutual funds - VUSXX is a Money Market fund actively managed by Vanguard, while PIMIX is a Multisector Bonds fund actively managed by PIMCO. Both are actively managed. Over the past 5 years, VUSXX returned 1.56%/yr vs 3.44%/yr for PIMIX. At a 0.21 correlation, their price movements are largely independent. VUSXX charges 0.07%/yr vs 0.54%/yr for PIMIX.

Performance

VUSXX vs. PIMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Treasury Money Market Fund (VUSXX) and PIMCO Income Fund Institutional Class (PIMIX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VUSXX achieves a 1.51% return, which is significantly higher than PIMIX's 0.91% return.

VUSXX

1D
0.00%
1M
0.31%
YTD
1.51%
6M
1.84%
1Y
3.98%
3Y*
2.61%
5Y*
1.56%
10Y*
—

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)

VUSXX vs. PIMIX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
VUSXX
Vanguard Treasury Money Market Fund		1.51%4.25%1.65%0.43%0.00%0.00%
PIMIX
PIMCO Income Fund Institutional Class		0.91%11.08%5.45%9.36%-9.07%1.60%

Correlation

The correlation between VUSXX and PIMIX is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.35

Correlation (3Y)
Calculated over the trailing 3-year period

0.27

Correlation (5Y)
Calculated over the trailing 5-year period

0.21

Correlation (All Time)
Calculated using the full available price history since May 25, 2021

0.21

The correlation between VUSXX and PIMIX shifts across timeframes, from 0.21 (all time) to 0.35 (1 year), reflecting how their relationship changes across market environments.

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Vanguard Treasury Money Market Fund

PIMCO Income Fund Institutional Class

Often compared with VUSXX:
VUSXX vs. VMFXXVUSXX vs. SGOVVUSXX vs. VMRXXVUSXX vs. VBILVUSXX vs. VGSHVUSXX vs. USFRVUSXX vs. VOO
Often compared with PIMIX:
PIMIX vs. PYLDPIMIX vs. PONAXPIMIX vs. AGGPIMIX vs. DODIXPIMIX vs. PONPXPIMIX vs. JMSIXPIMIX vs. BND

Return for Risk

VUSXX vs. PIMIX — Risk / Return Rank

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

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

PIMIX
PIMIX Risk / Return Rank: 6060
Overall Rank
PIMIX Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
PIMIX Sortino Ratio Rank: 7373
Sortino Ratio Rank
PIMIX Omega Ratio Rank: 7171
Omega Ratio Rank
PIMIX Calmar Ratio Rank: 4747
Calmar Ratio Rank
PIMIX Martin Ratio Rank: 4141
Martin Ratio Rank
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.

VUSXX vs. PIMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Treasury Money Market Fund (VUSXX) 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.

VUSXXPIMIXDifference
Sharpe ratioReturn per unit of total volatility
3.68
1.88

+1.79

Sortino ratioReturn per unit of downside risk

—

2.83

—

Omega ratioGain probability vs. loss probability

—

1.36

—

Calmar ratioReturn relative to maximum drawdown

—

2.12

—

Martin ratioReturn relative to average drawdown

—

7.21

—

VUSXX vs. PIMIX - Sharpe Ratio Comparison

The current VUSXX Sharpe Ratio is 3.68, which is higher than the PIMIX Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of VUSXX 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.

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Drawdowns

VUSXX vs. PIMIX - Drawdown Comparison

The maximum VUSXX drawdown since its inception was 0.00%, smaller than the maximum PIMIX drawdown of -13.39%. Use the drawdown chart below to compare losses from any high point for VUSXX and PIMIX.

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Drawdown Indicators

VUSXXPIMIXDifference

Max Drawdown

Largest peak-to-trough decline

0.00%

-13.39%

+13.39%

Max Drawdown (1Y)

Largest decline over 1 year

0.00%

-3.69%

+3.69%

Max Drawdown (3Y)

Largest decline over 3 years

0.00%

-3.84%

+3.84%

Max Drawdown (5Y)

Largest decline over 5 years

0.00%

-13.34%

+13.34%

Max Drawdown (10Y)

Largest decline over 10 years

—

-13.39%

—

Current Drawdown

Current decline from peak

0.00%

-1.02%

+1.02%

Average Drawdown

Average peak-to-trough decline

0.00%

-1.69%

+1.69%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.00%

1.08%

-1.08%

Volatility

VUSXX vs. PIMIX - Volatility Comparison

The current volatility for Vanguard Treasury Money Market Fund (VUSXX) is 0.31%, while PIMCO Income Fund Institutional Class (PIMIX) has a volatility of 1.67%. This indicates that VUSXX 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

VUSXXPIMIXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.31%

1.67%

-1.36%

Volatility (6M)

Calculated over the trailing 6-month period

0.79%

3.37%

-2.58%

Volatility (1Y)

Calculated over the trailing 1-year period

1.12%

4.17%

-3.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

0.75%

4.86%

-4.11%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

0.74%

4.26%

-3.52%

VUSXX vs. PIMIX - Expense Ratio Comparison

VUSXX has a 0.07% expense ratio, which is lower than PIMIX's 0.54% expense ratio.

Dividends

VUSXX vs. PIMIX - Dividend Comparison

VUSXX's dividend yield for the trailing twelve months is around 3.89%, less than PIMIX's 5.83% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
VUSXX
Vanguard Treasury Money Market Fund		3.89%4.15%1.63%0.43%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

VUSXX and PIMIX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

PIMIX has higher volatility (1.67%) compared to VUSXX (0.31%). In terms of maximum drawdown, VUSXX dropped 0.00% vs PIMIX's -13.39%.

VUSXX currently has the higher Sharpe Ratio (3.68 vs 1.88), 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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