ALAAX vs. PMAIX
Compare and contrast key facts about Invesco Income Allocation Fund (ALAAX) and Pioneer Multi-Asset Income Fund A (PMAIX).
ALAAX is managed by Invesco. It was launched on Oct 30, 2005. PMAIX is managed by Amundi. It was launched on Dec 22, 2011.
Performance
ALAAX vs. PMAIX - Performance Comparison
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ALAAX vs. PMAIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ALAAX Invesco Income Allocation Fund | -1.02% | 11.63% | 5.84% | 7.13% | -11.78% | 7.56% | 2.33% | 15.50% | -4.45% | 7.99% |
PMAIX Pioneer Multi-Asset Income Fund A | 0.80% | 23.03% | 6.09% | 7.32% | -0.79% | 12.00% | 5.35% | 10.88% | -6.10% | 17.97% |
Returns By Period
In the year-to-date period, ALAAX achieves a -1.02% return, which is significantly lower than PMAIX's 0.80% return. Over the past 10 years, ALAAX has underperformed PMAIX with an annualized return of 4.40%, while PMAIX has yielded a comparatively higher 8.45% annualized return.
ALAAX
- 1D
- 0.09%
- 1M
- -4.17%
- YTD
- -1.02%
- 6M
- 1.12%
- 1Y
- 9.07%
- 3Y*
- 6.98%
- 5Y*
- 3.11%
- 10Y*
- 4.40%
PMAIX
- 1D
- 0.15%
- 1M
- -3.62%
- YTD
- 0.80%
- 6M
- 4.12%
- 1Y
- 16.77%
- 3Y*
- 11.84%
- 5Y*
- 7.92%
- 10Y*
- 8.45%
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ALAAX vs. PMAIX - Expense Ratio Comparison
ALAAX has a 0.37% expense ratio, which is lower than PMAIX's 0.85% expense ratio.
Return for Risk
ALAAX vs. PMAIX — Risk / Return Rank
ALAAX
PMAIX
ALAAX vs. PMAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Income Allocation Fund (ALAAX) and Pioneer Multi-Asset Income Fund A (PMAIX). 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.
| ALAAX | PMAIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.39 | 2.39 | -1.00 |
Sortino ratioReturn per unit of downside risk | 1.97 | 3.02 | -1.06 |
Omega ratioGain probability vs. loss probability | 1.30 | 1.51 | -0.21 |
Calmar ratioReturn relative to maximum drawdown | 1.66 | 2.32 | -0.66 |
Martin ratioReturn relative to average drawdown | 7.45 | 10.88 | -3.43 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ALAAX | PMAIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.39 | 2.39 | -1.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | 1.11 | -0.64 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.61 | 1.12 | -0.51 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.70 | 1.12 | -0.42 |
Correlation
The correlation between ALAAX and PMAIX is 0.65, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
ALAAX vs. PMAIX - Dividend Comparison
ALAAX's dividend yield for the trailing twelve months is around 4.31%, less than PMAIX's 5.82% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ALAAX Invesco Income Allocation Fund | 4.31% | 4.22% | 4.13% | 4.07% | 3.53% | 3.19% | 4.07% | 6.98% | 3.91% | 3.36% | 3.66% | 3.16% |
PMAIX Pioneer Multi-Asset Income Fund A | 5.82% | 6.29% | 5.30% | 5.14% | 4.53% | 5.50% | 5.39% | 5.78% | 5.83% | 6.69% | 5.53% | 5.92% |
Drawdowns
ALAAX vs. PMAIX - Drawdown Comparison
The maximum ALAAX drawdown since its inception was -28.28%, which is greater than PMAIX's maximum drawdown of -24.12%. Use the drawdown chart below to compare losses from any high point for ALAAX and PMAIX.
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Drawdown Indicators
| ALAAX | PMAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.28% | -24.12% | -4.16% |
Max Drawdown (1Y)Largest decline over 1 year | -5.28% | -7.06% | +1.78% |
Max Drawdown (5Y)Largest decline over 5 years | -17.16% | -13.97% | -3.19% |
Max Drawdown (10Y)Largest decline over 10 years | -24.08% | -24.12% | +0.04% |
Current DrawdownCurrent decline from peak | -4.17% | -3.62% | -0.55% |
Average DrawdownAverage peak-to-trough decline | -3.32% | -2.68% | -0.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 1.51% | -0.34% |
Volatility
ALAAX vs. PMAIX - Volatility Comparison
Invesco Income Allocation Fund (ALAAX) has a higher volatility of 2.34% compared to Pioneer Multi-Asset Income Fund A (PMAIX) at 2.19%. This indicates that ALAAX's price experiences larger fluctuations and is considered to be riskier than PMAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ALAAX | PMAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.34% | 2.19% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 3.85% | 4.15% | -0.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.74% | 7.19% | -0.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.68% | 7.20% | -0.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.28% | 7.58% | -0.30% |