AAIIX vs. PCSIX
AAIIX (Ancora Income Fund) and PCSIX (PACE Strategic Fixed Income Investments) are both Intermediate Core-Plus Bond funds. Over the past 10 years, AAIIX returned 3.01%/yr vs 2.55%/yr for PCSIX. At a 0.21 correlation, their price movements are largely independent. AAIIX charges 2.20%/yr vs 0.66%/yr for PCSIX.
Performance
AAIIX vs. PCSIX - Performance Comparison
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Returns By Period
In the year-to-date period, AAIIX achieves a 1.53% return, which is significantly higher than PCSIX's 0.57% return. Over the past 10 years, AAIIX has outperformed PCSIX with an annualized return of 3.01%, while PCSIX has yielded a comparatively lower 2.55% annualized return.
AAIIX
- 1D
- -0.42%
- 1M
- -0.49%
- YTD
- 1.53%
- 6M
- 1.60%
- 1Y
- 5.44%
- 3Y*
- 6.74%
- 5Y*
- 1.78%
- 10Y*
- 3.01%
PCSIX
- 1D
- -0.34%
- 1M
- 0.69%
- YTD
- 0.57%
- 6M
- 0.73%
- 1Y
- 4.72%
- 3Y*
- 5.44%
- 5Y*
- 0.91%
- 10Y*
- 2.55%
AAIIX vs. PCSIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AAIIX Ancora Income Fund | 1.53% | 2.28% | 9.23% | 9.46% | -14.32% | 9.21% | 3.72% | 11.08% | -5.60% | 6.57% |
PCSIX PACE Strategic Fixed Income Investments | 0.57% | 7.36% | 3.62% | 8.02% | -13.84% | -0.71% | 9.38% | 10.37% | -1.17% | 5.46% |
Correlation
The correlation between AAIIX and PCSIX is 0.50, 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 | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Jan 8, 2004 | 0.21 |
Over the past year, AAIIX and PCSIX have become more correlated (0.50) than their long-term average of 0.21, meaning their price movements have been converging.
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Return for Risk
AAIIX vs. PCSIX — Risk / Return Rank
AAIIX
PCSIX
AAIIX vs. PCSIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ancora Income Fund (AAIIX) and PACE Strategic Fixed Income Investments (PCSIX). 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.
| AAIIX | PCSIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.26 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.30 | 2.09 | -0.79 |
| Martin ratioReturn relative to average drawdown | 3.98 | 6.20 | -2.23 |
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Drawdowns
AAIIX vs. PCSIX - Drawdown Comparison
The maximum AAIIX drawdown since its inception was -98.01%, which is greater than PCSIX's maximum drawdown of -18.54%. Use the drawdown chart below to compare losses from any high point for AAIIX and PCSIX.
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Drawdown Indicators
| AAIIX | PCSIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.01% | -18.54% | -79.47% |
Max Drawdown (1Y)Largest decline over 1 year | -4.19% | -2.57% | -1.62% |
Max Drawdown (3Y)Largest decline over 3 years | -98.01% | -5.39% | -92.62% |
Max Drawdown (5Y)Largest decline over 5 years | -98.01% | -18.54% | -79.47% |
Max Drawdown (10Y)Largest decline over 10 years | -98.01% | -18.54% | -79.47% |
Current DrawdownCurrent decline from peak | -97.80% | -1.07% | -96.73% |
Average DrawdownAverage peak-to-trough decline | -12.53% | -2.47% | -10.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.37% | 0.84% | +0.53% |
Volatility
AAIIX vs. PCSIX - Volatility Comparison
Ancora Income Fund (AAIIX) has a higher volatility of 1.26% compared to PACE Strategic Fixed Income Investments (PCSIX) at 1.08%. This indicates that AAIIX's price experiences larger fluctuations and is considered to be riskier than PCSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AAIIX | PCSIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.26% | 1.08% | +0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 3.38% | 2.70% | +0.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.58% | 3.76% | +0.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2,046.08% | 5.48% | +2,040.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1,446.22% | 4.85% | +1,441.37% |
AAIIX vs. PCSIX - Expense Ratio Comparison
AAIIX has a 2.20% expense ratio, which is higher than PCSIX's 0.66% expense ratio.
Dividends
AAIIX vs. PCSIX - Dividend Comparison
AAIIX's dividend yield for the trailing twelve months is around 5.24%, more than PCSIX's 5.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AAIIX Ancora Income Fund | 5.24% | 4.09% | 4.57% | 4.77% | 4.52% | 4.46% | 5.68% | 3.96% | 4.36% | 5.69% | 6.40% | 6.99% |
PCSIX PACE Strategic Fixed Income Investments | 5.18% | 4.76% | 5.66% | 5.03% | 3.47% | 3.71% | 5.62% | 3.50% | 3.39% | 2.66% | 4.23% | 3.55% |
Frequently Asked Questions
AAIIX and PCSIX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AAIIX has higher volatility (1.26%) compared to PCSIX (1.08%). In terms of maximum drawdown, AAIIX dropped -98.01% vs PCSIX's -18.54%.
PCSIX currently has the higher Sharpe Ratio (1.43 vs 1.19), 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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