ATACX vs. PBAIX

Last updated Jun 23, 2026

ATACX (ATAC Rotation Fund) and PBAIX (BlackRock Tactical Opportunities Fund Institutional Class) are both Tactical Allocation funds. Over the past 10 years, ATACX returned 8.01%/yr vs 6.18%/yr for PBAIX. At a 0.06 correlation, their price movements are largely independent. ATACX charges 1.74%/yr vs 0.77%/yr for PBAIX.

Performance

ATACX vs. PBAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ATAC Rotation Fund (ATACX) and BlackRock Tactical Opportunities Fund Institutional Class (PBAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ATACX achieves a 13.87% return, which is significantly higher than PBAIX's 9.74% return. Over the past 10 years, ATACX has outperformed PBAIX with an annualized return of 8.01%, while PBAIX has yielded a comparatively lower 6.18% annualized return.

ATACX

• 1D: 3.29%
• 1M: 2.02%
• YTD: 13.87%
• 6M: 9.70%
• 1Y: 22.98%
• 3Y*: 13.59%
• 5Y*: -0.40%
• 10Y*: 8.01%

PBAIX

• 1D: 0.23%
• 1M: 0.17%
• YTD: 9.74%
• 6M: 9.19%
• 1Y: 14.07%
• 3Y*: 9.55%
• 5Y*: 7.49%
• 10Y*: 6.18%

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

ATACX vs. PBAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ATACX ATAC Rotation Fund	13.87%	18.74%	5.05%	2.10%	-25.80%	-10.55%	72.81%	7.72%	-11.44%	27.03%
PBAIX BlackRock Tactical Opportunities Fund Institutional Class	9.74%	6.46%	12.08%	2.64%	6.14%	0.50%	6.91%	1.65%	4.68%	8.05%

Correlation

The correlation between ATACX and PBAIX is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (5Y) Calculated over the trailing 5-year period	0.04
Correlation (10Y) Calculated over the trailing 10-year period	0.03
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013	0.06

The correlation between ATACX and PBAIX shifts across timeframes, from -0.11 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ATACX vs. PBAIX — Risk / Return Rank

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

ATACX

ATACX Risk / Return Rank: 25
ATACX Sharpe Ratio Rank: 19
ATACX Sortino Ratio Rank: 18
ATACX Omega Ratio Rank: 23
ATACX Calmar Ratio Rank: 35
ATACX Martin Ratio Rank: 32

PBAIX

PBAIX Risk / Return Rank: 75
PBAIX Sharpe Ratio Rank: 74
PBAIX Sortino Ratio Rank: 78
PBAIX Omega Ratio Rank: 75
PBAIX Calmar Ratio Rank: 91
PBAIX Martin Ratio Rank: 57

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.

ATACX vs. PBAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ATAC Rotation Fund (ATACX) 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.

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.

	ATACX	PBAIX	Difference
Sharpe ratio: Return per unit of total volatility	1.16	2.30	-1.14
Sortino ratio: Return per unit of downside risk	1.66	3.41	-1.75
Omega ratio: Gain probability vs. loss probability	1.23	1.45	-0.21
Calmar ratio: Return relative to maximum drawdown	2.16	4.41	-2.25
Martin ratio: Return relative to average drawdown	6.84	10.84	-4.00

ATACX vs. PBAIX - Sharpe Ratio Comparison

The current ATACX Sharpe Ratio is 1.16, which is lower than the PBAIX Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of ATACX and PBAIX, 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

ATACX vs. PBAIX - Drawdown Comparison

The maximum ATACX drawdown since its inception was -51.26%, which is greater than PBAIX's maximum drawdown of -39.26%. Use the drawdown chart below to compare losses from any high point for ATACX and PBAIX.

Drawdown Indicators

	ATACX	PBAIX	Difference
Max Drawdown Largest peak-to-trough decline	-51.26%	-39.26%	-12.00%
Max Drawdown (1Y) Largest decline over 1 year	-10.57%	-2.99%	-7.58%
Max Drawdown (3Y) Largest decline over 3 years	-18.94%	-6.79%	-12.15%
Max Drawdown (5Y) Largest decline over 5 years	-44.04%	-6.79%	-37.25%
Max Drawdown (10Y) Largest decline over 10 years	-51.26%	-8.94%	-42.32%
Current Drawdown Current decline from peak	-13.57%	-0.52%	-13.05%
Average Drawdown Average peak-to-trough decline	-16.77%	-4.29%	-12.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.33%	1.21%	+2.12%

Volatility

ATACX vs. PBAIX - Volatility Comparison

ATAC Rotation Fund (ATACX) has a higher volatility of 11.28% compared to BlackRock Tactical Opportunities Fund Institutional Class (PBAIX) at 1.27%. This indicates that ATACX'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.

Volatility by Period

	ATACX	PBAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.28%	1.27%	+10.01%
Volatility (6M) Calculated over the trailing 6-month period	16.42%	4.65%	+11.77%
Volatility (1Y) Calculated over the trailing 1-year period	19.73%	5.72%	+14.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.70%	6.43%	+14.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.68%	6.13%	+14.55%

ATACX vs. PBAIX - Expense Ratio Comparison

ATACX has a 1.74% expense ratio, which is higher than PBAIX's 0.77% expense ratio.

Dividends

ATACX vs. PBAIX - Dividend Comparison

ATACX's dividend yield for the trailing twelve months is around 1.62%, while PBAIX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ATACX ATAC Rotation Fund	1.62%	1.85%	0.92%	0.00%	0.00%	0.00%	13.13%	0.90%	1.10%	8.15%	0.00%	0.00%
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%

Frequently Asked Questions

Can I hold both ATACX and PBAIX in my portfolio?

ATACX and PBAIX have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ATACX or PBAIX?

ATACX has higher volatility (11.28%) compared to PBAIX (1.27%). In terms of maximum drawdown, ATACX dropped -51.26% vs PBAIX's -39.26%.

Which has better risk-adjusted returns?

PBAIX currently has the higher Sharpe Ratio (2.30 vs 1.16), 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.