AFQSX vs. PASAX

Last updated Jul 11, 2026

AFQSX (Alpha Fiduciary Quantitative Strategy Fund) and PASAX (PIMCO All Asset Fund Class A) are both Tactical Allocation funds. Over the past 5 years, AFQSX returned 2.11%/yr vs 4.30%/yr for PASAX. At a 0.37 correlation, their price movements are largely independent. AFQSX charges 1.70%/yr vs 2.24%/yr for PASAX.

Performance

AFQSX vs. PASAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alpha Fiduciary Quantitative Strategy Fund (AFQSX) and PIMCO All Asset Fund Class A (PASAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AFQSX achieves a 13.32% return, which is significantly higher than PASAX's 8.61% return.

AFQSX

• 1D: 0.83%
• 1M: 3.91%
• 6M: 11.35%
• YTD: 13.32%
• 1Y: 23.05%
• 3Y*: 6.80%
• 5Y*: 2.11%
• 10Y*: —

PASAX

• 1D: 0.25%
• 1M: -0.74%
• 6M: 7.11%
• YTD: 8.61%
• 1Y: 16.30%
• 3Y*: 9.79%
• 5Y*: 4.30%
• 10Y*: 6.26%

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

AFQSX vs. PASAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
AFQSX Alpha Fiduciary Quantitative Strategy Fund	13.32%	3.78%	5.83%	2.10%	-22.23%	44.62%	-23.80%	0.00%
PASAX PIMCO All Asset Fund Class A	8.61%	12.85%	3.66%	7.66%	-11.90%	15.14%	7.93%	-0.08%

Correlation

The correlation between AFQSX and PASAX is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (All Time) Calculated using the full available price history since Dec 31, 2019	0.37

The correlation between AFQSX and PASAX shifts across timeframes, from 0.19 (3 years) to 0.37 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AFQSX vs. PASAX — Risk / Return Rank

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

AFQSX

AFQSX Risk / Return Rank: 84
AFQSX Sharpe Ratio Rank: 79
AFQSX Sortino Ratio Rank: 80
AFQSX Omega Ratio Rank: 84
AFQSX Calmar Ratio Rank: 91
AFQSX Martin Ratio Rank: 88

PASAX

PASAX Risk / Return Rank: 90
PASAX Sharpe Ratio Rank: 95
PASAX Sortino Ratio Rank: 92
PASAX Omega Ratio Rank: 88
PASAX Calmar Ratio Rank: 87
PASAX Martin Ratio Rank: 89

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.

AFQSX vs. PASAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alpha Fiduciary Quantitative Strategy Fund (AFQSX) and PIMCO All Asset Fund Class A (PASAX). 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.

	AFQSX	PASAX	Difference
Sharpe ratio: Return per unit of total volatility	2.04	2.70	-0.67
Sortino ratio: Return per unit of downside risk	2.97	3.85	-0.88
Omega ratio: Gain probability vs. loss probability	1.44	1.50	-0.06
Calmar ratio: Return relative to maximum drawdown	3.85	3.35	+0.50
Martin ratio: Return relative to average drawdown	12.91	13.18	-0.27

AFQSX vs. PASAX - Sharpe Ratio Comparison

The current AFQSX Sharpe Ratio is 2.04, which is comparable to the PASAX Sharpe Ratio of 2.70. The chart below compares the historical Sharpe Ratios of AFQSX and PASAX, 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

AFQSX vs. PASAX - Drawdown Comparison

The maximum AFQSX drawdown since its inception was -93.01%, which is greater than PASAX's maximum drawdown of -27.81%. Use the drawdown chart below to compare losses from any high point for AFQSX and PASAX.

Drawdown Indicators

	AFQSX	PASAX	Difference
Max Drawdown Largest peak-to-trough decline	-93.01%	-27.81%	-65.20%
Max Drawdown (1Y) Largest decline over 1 year	-6.01%	-4.88%	-1.13%
Max Drawdown (3Y) Largest decline over 3 years	-93.01%	-7.65%	-85.36%
Max Drawdown (5Y) Largest decline over 5 years	-93.01%	-20.00%	-73.01%
Max Drawdown (10Y) Largest decline over 10 years	—	-22.70%	—
Current Drawdown Current decline from peak	-90.36%	-0.74%	-89.62%
Average Drawdown Average peak-to-trough decline	-35.98%	-4.07%	-31.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.79%	1.23%	+0.56%

Volatility

AFQSX vs. PASAX - Volatility Comparison

Alpha Fiduciary Quantitative Strategy Fund (AFQSX) has a higher volatility of 4.39% compared to PIMCO All Asset Fund Class A (PASAX) at 1.77%. This indicates that AFQSX's price experiences larger fluctuations and is considered to be riskier than PASAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AFQSX	PASAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.39%	1.77%	+2.62%
Volatility (6M) Calculated over the trailing 6-month period	9.76%	4.81%	+4.95%
Volatility (1Y) Calculated over the trailing 1-year period	11.37%	6.04%	+5.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	637.42%	7.74%	+629.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	558.40%	7.71%	+550.69%

AFQSX vs. PASAX - Expense Ratio Comparison

AFQSX has a 1.70% expense ratio, which is lower than PASAX's 2.24% expense ratio.

Dividends

AFQSX vs. PASAX - Dividend Comparison

AFQSX has not paid dividends to shareholders, while PASAX's dividend yield for the trailing twelve months is around 7.72%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AFQSX Alpha Fiduciary Quantitative Strategy Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PASAX PIMCO All Asset Fund Class A	7.72%	6.80%	5.47%	2.81%	7.19%	11.47%	3.18%	2.90%	5.02%	4.07%	3.12%	3.36%

Frequently Asked Questions

Can I hold both AFQSX and PASAX in my portfolio?

AFQSX and PASAX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AFQSX or PASAX?

AFQSX has higher volatility (4.39%) compared to PASAX (1.77%). In terms of maximum drawdown, AFQSX dropped -93.01% vs PASAX's -27.81%.

Which has better risk-adjusted returns?

PASAX currently has the higher Sharpe Ratio (2.70 vs 2.04), 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.