XEMD vs. PIMIX

Last updated Jun 23, 2026

XEMD (BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF) and PIMIX (PIMCO Income Fund Institutional Class) are both funds - XEMD is a Emerging Markets Bonds fund tracking the JP Morgan EMBI Global Diversified Liquid 1-10 Y Maturity Index - Benchmark TR Gross, while PIMIX is a Multisector Bonds fund actively managed by PIMCO. XEMD is passively managed, while PIMIX is actively managed. Over the past 3 years, XEMD returned 11.00%/yr vs 7.73%/yr for PIMIX. A 0.69 correlation means they provide meaningful diversification when combined. XEMD charges 0.29%/yr vs 0.54%/yr for PIMIX.

Performance

XEMD vs. PIMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF (XEMD) 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, XEMD achieves a 3.04% return, which is significantly higher than PIMIX's 1.00% return.

XEMD

• 1D: -0.35%
• 1M: 1.03%
• YTD: 3.04%
• 6M: 3.23%
• 1Y: 11.70%
• 3Y*: 11.00%
• 5Y*: —
• 10Y*: —

PIMIX

• 1D: 0.09%
• 1M: 1.19%
• YTD: 1.00%
• 6M: 1.60%
• 1Y: 7.88%
• 3Y*: 7.73%
• 5Y*: 3.58%
• 10Y*: 4.72%

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

XEMD vs. PIMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XEMD BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF	3.04%	13.98%	8.77%	10.26%	2.40%
PIMIX PIMCO Income Fund Institutional Class	1.00%	11.08%	5.45%	9.36%	0.54%

Correlation

The correlation between XEMD and PIMIX is 0.63, 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	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (All Time) Calculated using the full available price history since Jun 30, 2022	0.69

The correlation between XEMD and PIMIX has been stable across timeframes, ranging from 0.63 to 0.69 - a consistent structural relationship.

Return for Risk

XEMD vs. PIMIX — Risk / Return Rank

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

XEMD

XEMD Risk / Return Rank: 80
XEMD Sharpe Ratio Rank: 80
XEMD Sortino Ratio Rank: 86
XEMD Omega Ratio Rank: 84
XEMD Calmar Ratio Rank: 69
XEMD Martin Ratio Rank: 79

PIMIX

PIMIX Risk / Return Rank: 46
PIMIX Sharpe Ratio Rank: 50
PIMIX Sortino Ratio Rank: 55
PIMIX Omega Ratio Rank: 54
PIMIX Calmar Ratio Rank: 36
PIMIX Martin Ratio Rank: 34

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.

XEMD vs. PIMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF (XEMD) 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.

	XEMD	PIMIX	Difference
Sharpe ratio: Return per unit of total volatility	2.45	1.91	+0.55
Sortino ratio: Return per unit of downside risk	3.71	2.85	+0.86
Omega ratio: Gain probability vs. loss probability	1.48	1.37	+0.11
Calmar ratio: Return relative to maximum drawdown	3.34	2.15	+1.18
Martin ratio: Return relative to average drawdown	14.92	7.27	+7.65

XEMD vs. PIMIX - Sharpe Ratio Comparison

The current XEMD Sharpe Ratio is 2.45, which is comparable to the PIMIX Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of XEMD 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

XEMD vs. PIMIX - Drawdown Comparison

The maximum XEMD drawdown since its inception was -10.01%, smaller than the maximum PIMIX drawdown of -13.39%. Use the drawdown chart below to compare losses from any high point for XEMD and PIMIX.

Drawdown Indicators

	XEMD	PIMIX	Difference
Max Drawdown Largest peak-to-trough decline	-10.01%	-13.39%	+3.38%
Max Drawdown (1Y) Largest decline over 1 year	-3.52%	-3.69%	+0.17%
Max Drawdown (3Y) Largest decline over 3 years	-4.31%	-3.84%	-0.47%
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	-0.42%	-0.93%	+0.51%
Average Drawdown Average peak-to-trough decline	-1.25%	-1.69%	+0.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.79%	1.09%	-0.30%

Volatility

XEMD vs. PIMIX - Volatility Comparison

BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF (XEMD) and PIMCO Income Fund Institutional Class (PIMIX) have volatilities of 1.48% and 1.42%, 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

	XEMD	PIMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.48%	1.42%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	3.87%	3.39%	+0.48%
Volatility (1Y) Calculated over the trailing 1-year period	4.80%	4.17%	+0.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.88%	4.86%	+2.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.88%	4.26%	+2.62%

XEMD vs. PIMIX - Expense Ratio Comparison

XEMD has a 0.29% expense ratio, which is lower than PIMIX's 0.54% expense ratio.

Dividends

XEMD vs. PIMIX - Dividend Comparison

XEMD's dividend yield for the trailing twelve months is around 5.81%, which matches 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%
XEMD BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF	5.81%	6.15%	6.30%	6.19%	3.08%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XEMD and PIMIX in my portfolio?

XEMD and PIMIX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XEMD or PIMIX?

XEMD has higher volatility (1.48%) compared to PIMIX (1.42%). In terms of maximum drawdown, XEMD dropped -10.01% vs PIMIX's -13.39%.

Which has better risk-adjusted returns?

XEMD currently has the higher Sharpe Ratio (2.45 vs 1.91), 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.