PIMCO Municipal Income Opportunities Active… (MINO) Performance
MINO total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −0.7% since Dec 31, 2025
- 1 year
- −0.6% total return
- 5 years
- +1.1% a year
- Since first price
- +0.8% a year since 2021
MINO trailing returns vs AGG, TLT, SPY
| Period | MINO total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +1.3% | +1.0% | +0.9% | +1.5% | −1.0% |
| 3 months | −1.5% | −2.4% | −0.4% | −1.0% | +3.2% |
| 6 months | −2.2% | −4.1% | −1.5% | −3.8% | +7.8% |
| YTD | −0.7% | −3.6% | −1.0% | −3.4% | +12.3% |
| 1 year | −0.6% | −4.4% | −1.1% | −6.9% | +14.4% |
| 3 years | +16.2%+5.1%/yr | +3.6% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | +5.6%+1.1%/yr | −11.4% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| Since inceptionSep 9, 2021 | +4.2%+0.8%/yr | −12.6% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: MINO vs AGG
From Sep 9, 2021: MINO grew to $10,418, AGG to $9,766.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
MINO returns by calendar year
3 of 4 full years positive. Best 2023 (+8.5%), worst 2022 (−10.4%). 2026 is year to date.
MINO annual returns table
| Year | MINO | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −0.7% | −6.9% | −1.0% | −3.4% | +12.3% |
| 2025 | +4.4% | −4.7% | +7.2% | +4.3% | +17.7% |
| 2024 | +3.1% | −2.5% | +1.3% | −8.1% | +24.9% |
| 2023 | +8.5% | −5.3% | +5.7% | +2.8% | +26.2% |
| 2022 | −10.4% | −15.2% | −13.0% | −31.2% | −18.2% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
MINO largest drawdowns
Now 3.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Dec 17, 2021 | −15.2% | Oct 25, 2022 | Aug 2, 2024 | 10 months | 2.6 years |
| Jul 6, 2026 | −6.9% | Sep 29, 2026 | not yet | 3 months | 4 months so far |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
MINO risk statistics
| Statistic | 3 years | 5 years |
|---|---|---|
| Annualized return | +3.6% | +0.4% |
| Volatility (annualized) | 6.0% | 6.9% |
| Sharpe ratio | -0.10 | -0.44 |
| Sortino ratio | -0.15 | -0.59 |
| Best month | +6.3% | +6.3% |
| Worst month | −4.2% | −4.2% |
| Best 12 months | +12.7% | +12.7% |
| Worst 12 months | −2.3% | −13.7% |
| Positive months | 64% | 55% |
| Beta vs S&P 500 | 0.29 | 0.28 |
| Correlation with S&P 500 | 0.60 | 0.64 |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
MINO rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 50 | −13.7% | +4.3% | +12.7% | 80% |
| 3-year (a year) | 26 | +0.1% | +4.0% | +7.1% | 100% |
| 5-year (a year) | 2 | +0.4% | +0.7% | +1.0% | 100% |
Every holding period starting at a month-end since 2021. Returns for 3 years and longer are annualized.
MINO performance overview
PIMCO Municipal Income Opportunities Active… (MINO) returned −0.6% over the past year and +1.1% a year over five years, with distributions reinvested. Since its first recorded price in 2021 it has returned +0.8% a year, turning $10,000 into about $10,418. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −15.2%, from Dec 17, 2021 to Oct 25, 2022, and it took 1.8 years to get back to the old high. MINO finished 3 of its 4 full calendar years with a gain; the best year was 2023 (+8.5%) and the worst 2022 (−10.4%). Volatility has been 6.9% a year.
Related: MINO chart, MINO dividends, MINO bond profile. See the MINO overview for the latest quote and fund facts.
MINO performance FAQ
What is the MINO return over the past year?
MINO returned −0.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 4.4%.
What is the average annual return of MINO?
MINO has returned +1.1% a year over 5 years, +0.8% a year since September 9, 2021 (total return, distributions reinvested).
How much would $10,000 invested in MINO be worth?
$10,000 invested in MINO at its first recorded close on September 9, 2021 would be worth about $10,418 on October 23, 2026 with distributions reinvested.
What was the worst year for MINO?
The worst calendar year was 2022, with a total return of −10.4%. The best was 2023 at +8.5%.
What is the biggest drawdown of MINO?
The largest peak-to-trough decline was −15.2% between December 17, 2021 and October 25, 2022. It recovered to the old high on August 2, 2024, 1.8 years after the bottom.
How volatile is MINO?
Over the past 3 years MINO had an annualized volatility of 6.0% and a Sharpe ratio of -0.10 (excess return over 1–3 month T-bills per unit of risk).