ASFYX vs. PBAIX
Compare and contrast key facts about AlphaSimplex Managed Futures Strategy Fund Class Y (ASFYX) and BlackRock Tactical Opportunities Fund Institutional Class (PBAIX).
ASFYX is managed by BlackRock. It was launched on Jul 30, 2010. PBAIX is an actively managed fund by BlackRock. It was launched on Jun 1, 1993.
Performance
ASFYX vs. PBAIX - Performance Comparison
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ASFYX vs. PBAIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ASFYX AlphaSimplex Managed Futures Strategy Fund Class Y | 6.59% | -9.67% | -3.22% | -10.33% | 35.67% | 3.52% | 13.59% | 8.99% | -12.59% | 6.78% |
PBAIX BlackRock Tactical Opportunities Fund Institutional Class | 3.23% | 6.46% | 12.08% | 2.64% | 6.14% | 0.50% | 6.91% | 1.65% | 4.68% | 8.05% |
Returns By Period
In the year-to-date period, ASFYX achieves a 6.59% return, which is significantly higher than PBAIX's 3.23% return. Over the past 10 years, ASFYX has underperformed PBAIX with an annualized return of 1.87%, while PBAIX has yielded a comparatively higher 5.35% annualized return.
ASFYX
- 1D
- 0.00%
- 1M
- -1.55%
- YTD
- 6.59%
- 6M
- 10.95%
- 1Y
- 3.41%
- 3Y*
- -2.89%
- 5Y*
- 2.30%
- 10Y*
- 1.87%
PBAIX
- 1D
- -0.85%
- 1M
- 1.81%
- YTD
- 3.23%
- 6M
- 2.06%
- 1Y
- 9.24%
- 3Y*
- 8.63%
- 5Y*
- 6.42%
- 10Y*
- 5.35%
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ASFYX vs. PBAIX - Expense Ratio Comparison
ASFYX has a 1.47% expense ratio, which is higher than PBAIX's 0.77% expense ratio.
Return for Risk
ASFYX vs. PBAIX — Risk / Return Rank
ASFYX
PBAIX
ASFYX vs. PBAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AlphaSimplex Managed Futures Strategy Fund Class Y (ASFYX) and BlackRock Tactical Opportunities Fund Institutional Class (PBAIX). 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.
| ASFYX | PBAIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.18 | 1.35 | -1.18 |
Sortino ratioReturn per unit of downside risk | 0.30 | 1.87 | -1.57 |
Omega ratioGain probability vs. loss probability | 1.04 | 1.28 | -0.23 |
Calmar ratioReturn relative to maximum drawdown | 0.10 | 1.79 | -1.69 |
Martin ratioReturn relative to average drawdown | 0.16 | 6.09 | -5.92 |
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
| ASFYX | PBAIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.18 | 1.35 | -1.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.17 | 1.00 | -0.84 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.15 | 0.88 | -0.73 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.57 | -0.26 |
Correlation
The correlation between ASFYX and PBAIX is 0.16, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
ASFYX vs. PBAIX - Dividend Comparison
ASFYX's dividend yield for the trailing twelve months is around 1.43%, while PBAIX has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASFYX AlphaSimplex Managed Futures Strategy Fund Class Y | 1.43% | 1.52% | 1.46% | 0.99% | 32.48% | 6.07% | 3.40% | 5.51% | 1.30% | 0.07% | 0.01% | 5.06% |
PBAIX BlackRock Tactical Opportunities Fund Institutional Class | 0.00% | 0.00% | 0.00% | 11.84% | 3.52% | 0.00% | 2.71% | 3.39% | 10.17% | 0.86% | 1.74% | 5.15% |
Drawdowns
ASFYX vs. PBAIX - Drawdown Comparison
The maximum ASFYX drawdown since its inception was -36.43%, smaller than the maximum PBAIX drawdown of -39.26%. Use the drawdown chart below to compare losses from any high point for ASFYX and PBAIX.
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Drawdown Indicators
| ASFYX | PBAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.43% | -39.26% | +2.83% |
Max Drawdown (1Y)Largest decline over 1 year | -13.51% | -4.22% | -9.29% |
Max Drawdown (5Y)Largest decline over 5 years | -36.43% | -6.79% | -29.64% |
Max Drawdown (10Y)Largest decline over 10 years | -36.43% | -8.94% | -27.49% |
Current DrawdownCurrent decline from peak | -24.37% | -1.69% | -22.68% |
Average DrawdownAverage peak-to-trough decline | -13.09% | -4.32% | -8.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.72% | 1.32% | +7.40% |
Volatility
ASFYX vs. PBAIX - Volatility Comparison
AlphaSimplex Managed Futures Strategy Fund Class Y (ASFYX) has a higher volatility of 3.86% compared to BlackRock Tactical Opportunities Fund Institutional Class (PBAIX) at 3.13%. This indicates that ASFYX's price experiences larger fluctuations and is considered to be riskier than PBAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ASFYX | PBAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.86% | 3.13% | +0.73% |
Volatility (6M)Calculated over the trailing 6-month period | 10.01% | 4.37% | +5.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.02% | 6.71% | +6.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.68% | 6.42% | +7.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.68% | 6.11% | +6.57% |