BIIEX vs. PPYPX

Last updated Jul 15, 2026

BIIEX (Brandes International Equity Fund) and PPYPX (PIMCO RAE International Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, BIIEX returned 10.47%/yr vs 8.86%/yr for PPYPX. Their correlation of 0.91 suggests significant overlap in exposure. BIIEX charges 0.85%/yr vs 0.60%/yr for PPYPX.

Performance

BIIEX vs. PPYPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Brandes International Equity Fund (BIIEX) and PIMCO RAE International Fund (PPYPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BIIEX achieves a 8.81% return, which is significantly lower than PPYPX's 12.91% return. Over the past 10 years, BIIEX has outperformed PPYPX with an annualized return of 10.47%, while PPYPX has yielded a comparatively lower 8.86% annualized return.

BIIEX

• 1D: -0.10%
• 1M: 0.76%
• 6M: 5.43%
• YTD: 8.81%
• 1Y: 22.97%
• 3Y*: 20.95%
• 5Y*: 13.77%
• 10Y*: 10.47%

PPYPX

• 1D: 0.60%
• 1M: -1.18%
• 6M: 10.67%
• YTD: 12.91%
• 1Y: 23.58%
• 3Y*: 15.53%
• 5Y*: 9.09%
• 10Y*: 8.86%

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

BIIEX vs. PPYPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BIIEX Brandes International Equity Fund	8.81%	38.82%	7.17%	30.40%	-8.46%	12.86%	-1.83%	14.48%	-9.52%	15.14%
PPYPX PIMCO RAE International Fund	12.91%	31.34%	-1.15%	18.13%	-8.73%	10.68%	2.05%	16.43%	-15.49%	24.89%

Correlation

The correlation between BIIEX and PPYPX is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.91

The correlation between BIIEX and PPYPX shifts across timeframes, from 0.77 (1 year) to 0.91 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BIIEX vs. PPYPX — Risk / Return Rank

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

BIIEX

BIIEX Risk / Return Rank: 54
BIIEX Sharpe Ratio Rank: 61
BIIEX Sortino Ratio Rank: 63
BIIEX Omega Ratio Rank: 58
BIIEX Calmar Ratio Rank: 45
BIIEX Martin Ratio Rank: 41

PPYPX

PPYPX Risk / Return Rank: 68
PPYPX Sharpe Ratio Rank: 68
PPYPX Sortino Ratio Rank: 64
PPYPX Omega Ratio Rank: 64
PPYPX Calmar Ratio Rank: 84
PPYPX Martin Ratio Rank: 62

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.

BIIEX vs. PPYPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brandes International Equity Fund (BIIEX) and PIMCO RAE International Fund (PPYPX). 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.

	BIIEX	PPYPX	Difference
Sharpe ratio: Return per unit of total volatility	1.72	1.80	-0.08
Sortino ratio: Return per unit of downside risk	2.48	2.48	0.00
Omega ratio: Gain probability vs. loss probability	1.31	1.33	-0.01
Calmar ratio: Return relative to maximum drawdown	2.04	3.16	-1.12
Martin ratio: Return relative to average drawdown	6.92	9.30	-2.38

BIIEX vs. PPYPX - Sharpe Ratio Comparison

The current BIIEX Sharpe Ratio is 1.72, which is comparable to the PPYPX Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of BIIEX and PPYPX, 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

BIIEX vs. PPYPX - Drawdown Comparison

The maximum BIIEX drawdown since its inception was -58.76%, which is greater than PPYPX's maximum drawdown of -42.48%. Use the drawdown chart below to compare losses from any high point for BIIEX and PPYPX.

Drawdown Indicators

	BIIEX	PPYPX	Difference
Max Drawdown Largest peak-to-trough decline	-58.76%	-42.48%	-16.28%
Max Drawdown (1Y) Largest decline over 1 year	-11.17%	-7.48%	-3.69%
Max Drawdown (3Y) Largest decline over 3 years	-13.69%	-14.00%	+0.31%
Max Drawdown (5Y) Largest decline over 5 years	-29.73%	-35.65%	+5.92%
Max Drawdown (10Y) Largest decline over 10 years	-42.67%	-42.48%	-0.19%
Current Drawdown Current decline from peak	-2.09%	-2.24%	+0.15%
Average Drawdown Average peak-to-trough decline	-11.57%	-10.08%	-1.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.29%	2.54%	+0.75%

Volatility

BIIEX vs. PPYPX - Volatility Comparison

The current volatility for Brandes International Equity Fund (BIIEX) is 3.74%, while PIMCO RAE International Fund (PPYPX) has a volatility of 4.25%. This indicates that BIIEX experiences smaller price fluctuations and is considered to be less risky than PPYPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BIIEX	PPYPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.74%	4.25%	-0.51%
Volatility (6M) Calculated over the trailing 6-month period	10.96%	9.85%	+1.11%
Volatility (1Y) Calculated over the trailing 1-year period	13.33%	13.17%	+0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.06%	19.52%	-4.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.64%	18.69%	-2.05%

BIIEX vs. PPYPX - Expense Ratio Comparison

BIIEX has a 0.85% expense ratio, which is higher than PPYPX's 0.60% expense ratio.

Dividends

BIIEX vs. PPYPX - Dividend Comparison

BIIEX's dividend yield for the trailing twelve months is around 5.97%, less than PPYPX's 6.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BIIEX Brandes International Equity Fund	5.97%	6.17%	2.95%	2.51%	3.57%	3.81%	1.86%	3.76%	2.83%	1.80%	3.58%	2.53%
PPYPX PIMCO RAE International Fund	6.89%	7.78%	6.57%	10.09%	7.20%	27.06%	2.23%	4.20%	5.96%	2.53%	2.41%	0.00%

Frequently Asked Questions

Can I hold both BIIEX and PPYPX in my portfolio?

BIIEX and PPYPX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BIIEX or PPYPX?

PPYPX has higher volatility (4.25%) compared to BIIEX (3.74%). In terms of maximum drawdown, BIIEX dropped -58.76% vs PPYPX's -42.48%.

Which has better risk-adjusted returns?

PPYPX currently has the higher Sharpe Ratio (1.80 vs 1.72), 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.