AHLPX vs. PQTIX

Last updated Jul 16, 2026

AHLPX (American Beacon AHL Managed Futures Strategy Fund) and PQTIX (PIMCO TRENDS Managed Futures Strategy Fund Institutional Class) are both Systematic Trend funds. Over the past 10 years, AHLPX returned 4.65%/yr vs 4.17%/yr for PQTIX. A 0.79 correlation means they provide meaningful diversification when combined. AHLPX charges 1.83%/yr vs 1.54%/yr for PQTIX.

Performance

AHLPX vs. PQTIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Beacon AHL Managed Futures Strategy Fund (AHLPX) and PIMCO TRENDS Managed Futures Strategy Fund Institutional Class (PQTIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AHLPX achieves a 11.37% return, which is significantly higher than PQTIX's 4.71% return. Over the past 10 years, AHLPX has outperformed PQTIX with an annualized return of 4.65%, while PQTIX has yielded a comparatively lower 4.17% annualized return.

AHLPX

• 1D: 0.00%
• 1M: 0.39%
• 6M: 5.60%
• YTD: 11.37%
• 1Y: 26.66%
• 3Y*: 4.38%
• 5Y*: 4.66%
• 10Y*: 4.65%

PQTIX

• 1D: 0.45%
• 1M: 0.36%
• 6M: 2.50%
• YTD: 4.71%
• 1Y: 16.72%
• 3Y*: 0.77%
• 5Y*: 3.34%
• 10Y*: 4.17%

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

AHLPX vs. PQTIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AHLPX American Beacon AHL Managed Futures Strategy Fund	11.37%	2.19%	1.74%	-4.20%	16.48%	4.67%	10.36%	0.09%	2.15%	4.79%
PQTIX PIMCO TRENDS Managed Futures Strategy Fund Institutional Class	4.71%	2.39%	-2.88%	-4.19%	11.62%	14.87%	9.96%	2.90%	2.37%	2.37%

Correlation

The correlation between AHLPX and PQTIX is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015	0.79

The correlation between AHLPX and PQTIX has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.

Return for Risk

AHLPX vs. PQTIX — Risk / Return Rank

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

AHLPX

AHLPX Risk / Return Rank: 90
AHLPX Sharpe Ratio Rank: 89
AHLPX Sortino Ratio Rank: 85
AHLPX Omega Ratio Rank: 85
AHLPX Calmar Ratio Rank: 97
AHLPX Martin Ratio Rank: 94

PQTIX

PQTIX Risk / Return Rank: 71
PQTIX Sharpe Ratio Rank: 73
PQTIX Sortino Ratio Rank: 65
PQTIX Omega Ratio Rank: 71
PQTIX Calmar Ratio Rank: 89
PQTIX Martin Ratio Rank: 60

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.

AHLPX vs. PQTIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Beacon AHL Managed Futures Strategy Fund (AHLPX) and PIMCO TRENDS Managed Futures Strategy Fund Institutional Class (PQTIX). 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.

	AHLPX	PQTIX	Difference
Sharpe ratio: Return per unit of total volatility	2.41	1.89	+0.52
Sortino ratio: Return per unit of downside risk	3.27	2.51	+0.76
Omega ratio: Gain probability vs. loss probability	1.44	1.34	+0.09
Calmar ratio: Return relative to maximum drawdown	5.22	3.51	+1.71
Martin ratio: Return relative to average drawdown	15.88	9.18	+6.70

AHLPX vs. PQTIX - Sharpe Ratio Comparison

The current AHLPX Sharpe Ratio is 2.41, which is comparable to the PQTIX Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of AHLPX and PQTIX, 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

AHLPX vs. PQTIX - Drawdown Comparison

The maximum AHLPX drawdown since its inception was -21.90%, smaller than the maximum PQTIX drawdown of -27.65%. Use the drawdown chart below to compare losses from any high point for AHLPX and PQTIX.

Drawdown Indicators

	AHLPX	PQTIX	Difference
Max Drawdown Largest peak-to-trough decline	-21.90%	-27.65%	+5.75%
Max Drawdown (1Y) Largest decline over 1 year	-5.02%	-4.63%	-0.39%
Max Drawdown (3Y) Largest decline over 3 years	-21.90%	-18.59%	-3.31%
Max Drawdown (5Y) Largest decline over 5 years	-21.90%	-27.65%	+5.75%
Max Drawdown (10Y) Largest decline over 10 years	-21.90%	-27.65%	+5.75%
Current Drawdown Current decline from peak	-1.14%	-12.35%	+11.21%
Average Drawdown Average peak-to-trough decline	-6.72%	-9.30%	+2.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.65%	1.77%	-0.12%

Volatility

AHLPX vs. PQTIX - Volatility Comparison

American Beacon AHL Managed Futures Strategy Fund (AHLPX) has a higher volatility of 2.54% compared to PIMCO TRENDS Managed Futures Strategy Fund Institutional Class (PQTIX) at 2.28%. This indicates that AHLPX's price experiences larger fluctuations and is considered to be riskier than PQTIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AHLPX	PQTIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.54%	2.28%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	7.14%	6.67%	+0.47%
Volatility (1Y) Calculated over the trailing 1-year period	10.91%	8.64%	+2.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.66%	9.91%	-0.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.53%	9.30%	+0.23%

AHLPX vs. PQTIX - Expense Ratio Comparison

AHLPX has a 1.83% expense ratio, which is higher than PQTIX's 1.54% expense ratio.

Dividends

AHLPX vs. PQTIX - Dividend Comparison

AHLPX's dividend yield for the trailing twelve months is around 7.25%, more than PQTIX's 1.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AHLPX American Beacon AHL Managed Futures Strategy Fund	7.25%	8.07%	0.29%	0.63%	17.64%	7.15%	5.14%	4.17%	1.45%	4.07%	0.00%	3.40%
PQTIX PIMCO TRENDS Managed Futures Strategy Fund Institutional Class	1.29%	0.00%	0.00%	0.00%	14.83%	2.47%	5.65%	2.55%	0.39%	0.25%	0.00%	8.06%

Frequently Asked Questions

Can I hold both AHLPX and PQTIX in my portfolio?

AHLPX and PQTIX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AHLPX or PQTIX?

AHLPX has higher volatility (2.54%) compared to PQTIX (2.28%). In terms of maximum drawdown, AHLPX dropped -21.90% vs PQTIX's -27.65%.

Which has better risk-adjusted returns?

AHLPX currently has the higher Sharpe Ratio (2.41 vs 1.89), 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.