BTLSX vs. PPYPX

Last updated Jul 14, 2026

BTLSX (Baillie Gifford International Concentrated Growth Equities Fund) and PPYPX (PIMCO RAE International Fund) are both Foreign Large Cap Equities funds. A 0.63 correlation means they provide meaningful diversification when combined. BTLSX charges 0.81%/yr vs 0.60%/yr for PPYPX.

Performance

BTLSX vs. PPYPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baillie Gifford International Concentrated Growth Equities Fund (BTLSX) and PIMCO RAE International Fund (PPYPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BTLSX

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PPYPX

• 1D: 0.70%
• 1M: -1.77%
• 6M: 9.17%
• YTD: 12.23%
• 1Y: 22.70%
• 3Y*: 16.06%
• 5Y*: 8.82%
• 10Y*: 8.84%

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

BTLSX vs. PPYPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BTLSX Baillie Gifford International Concentrated Growth Equities Fund	-7.50%	16.56%	18.34%	14.75%	-39.64%	0.71%	100.15%	45.32%	-13.23%	-0.69%
PPYPX PIMCO RAE International Fund	12.23%	31.34%	-1.15%	18.13%	-8.73%	10.68%	2.05%	16.43%	-15.49%	1.93%

Correlation

The correlation between BTLSX and PPYPX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (All Time) Calculated using the full available price history since Dec 18, 2017	0.63

The correlation between BTLSX and PPYPX shifts across timeframes, from 0.48 (1 year) to 0.63 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BTLSX vs. PPYPX — Risk / Return Rank

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

BTLSX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

PPYPX

PPYPX Risk / Return Rank: 59
PPYPX Sharpe Ratio Rank: 55
PPYPX Sortino Ratio Rank: 52
PPYPX Omega Ratio Rank: 53
PPYPX Calmar Ratio Rank: 80
PPYPX Martin Ratio Rank: 55

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.

BTLSX vs. PPYPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baillie Gifford International Concentrated Growth Equities Fund (BTLSX) 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.

	BTLSX	PPYPX	Difference
Sharpe ratio: Return per unit of total volatility	—	1.66	—
Sortino ratio: Return per unit of downside risk	—	2.31	—
Omega ratio: Gain probability vs. loss probability	—	1.30	—
Calmar ratio: Return relative to maximum drawdown	—	2.93	—
Martin ratio: Return relative to average drawdown	—	8.63	—

Drawdowns

Drawdown Indicators

	BTLSX	PPYPX	Difference
Max Drawdown Largest peak-to-trough decline	—	-42.48%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-7.48%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.00%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-35.65%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.48%	—
Current Drawdown Current decline from peak	—	-2.82%	—
Average Drawdown Average peak-to-trough decline	—	-10.08%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.54%	—

Volatility

Volatility by Period

	BTLSX	PPYPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.20%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.84%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	13.17%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	19.52%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	18.69%	—

BTLSX vs. PPYPX - Expense Ratio Comparison

BTLSX has a 0.81% expense ratio, which is higher than PPYPX's 0.60% expense ratio.

Dividends

BTLSX vs. PPYPX - Dividend Comparison

BTLSX has not paid dividends to shareholders, while PPYPX's dividend yield for the trailing twelve months is around 6.93%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BTLSX Baillie Gifford International Concentrated Growth Equities Fund	0.00%	0.00%	0.00%	0.00%	6.18%	25.27%	102.72%	0.17%	0.00%	0.00%	0.00%
PPYPX PIMCO RAE International Fund	6.93%	7.78%	6.57%	10.09%	7.20%	27.06%	2.23%	4.20%	5.96%	2.53%	2.41%

Frequently Asked Questions

Can I hold both BTLSX and PPYPX in my portfolio?

BTLSX and PPYPX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.