PML vs VOO
PIMCO Municipal Income Fund II vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | PML | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 4.81% | 0.03% | |
| AUM | $1.0B | $979.0B | |
| Dividend Yield | 5.83% | 1.09% | |
| Holdings | 364 | 509 | |
| YTD Return | +1.37% | +13.80% | |
| 1Y Return | +9.37% | +23.71% | |
| 3Y Return (annualized) | -0.29% | +21.50% | |
| 5Y Return (annualized) | -8.08% | +13.44% | |
| Volatility (annualized) | 15.5% | 14.1% | |
| Max Drawdown | -67.4% | -34.3% | |
| Fund Family | PIMCO (US) | Vanguard (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Jun 28, 2002 | Sep 7, 2010 |
PML vs VOO Performance
PIMCO Municipal Income Fund II (PML) is a ETF from PIMCO (US) and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year PML returned +9.37% while VOO returned +23.71%. Year to date, PML is up 1.37% versus a gain of 13.80% for VOO.
Over three years, PML compounded at -0.29% per year against +21.50% for VOO; over five years the annualized figures are -8.08% and +13.44% respectively. Across the full 16-year window we track, VOO has the edge at +13.58% annualized vs -1.62%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PML has been the more volatile fund, with annualized monthly volatility of 15.5% compared with 14.1% for VOO. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -67.4% for PML and -34.3% for VOO. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.34. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PML charges 4.81% per year while VOO charges 0.03%. On a $10,000 position that is $481 vs $3 annually, a gap of $478 per year that compounds over a long holding period. On income, PML currently yields 5.83% against 1.09% for VOO.
Holdings Overlap
PML and VOO share 0 holdings out of 653 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, PML or VOO?
PML has an expense ratio of 4.81% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $478 per year of difference.
Which performed better, PML or VOO?
Over the past year PML returned +9.37% vs +23.71% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), PML annualized -1.62% vs +13.58% for VOO. Past performance does not guarantee future results.
Which is riskier, PML or VOO?
PML has been the more volatile fund at 15.5% annualized versus 14.1% for VOO. Worst drawdown: PML -67.4% vs VOO -34.3%.
Should I hold both PML and VOO?
PML and VOO have a monthly-return correlation of 0.34, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PML and VOO?
PML and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 653 unique securities.
Which pays a higher dividend, PML or VOO?
PML yields 5.83% while VOO yields 1.09%, so PML currently pays the higher dividend yield.
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