CZMVX vs. PKAIX

Last updated Jun 4, 2026

CZMVX (Multi-Manager Value Strategies Fund) and PKAIX (PIMCO RAE US Fund) are both Large Cap Value Equities funds. Over the past 5 years, CZMVX returned 8.81%/yr vs 15.06%/yr for PKAIX. Their correlation of 0.92 suggests significant overlap in exposure. CZMVX charges 0.69%/yr vs 0.40%/yr for PKAIX.

Performance

CZMVX vs. PKAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Multi-Manager Value Strategies Fund (CZMVX) and PIMCO RAE US Fund (PKAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CZMVX achieves a 9.62% return, which is significantly lower than PKAIX's 24.56% return.

CZMVX

• 1D: 0.42%
• 1M: 2.09%
• YTD: 9.62%
• 6M: 10.53%
• 1Y: 20.49%
• 3Y*: 15.82%
• 5Y*: 8.81%
• 10Y*: —

PKAIX

• 1D: 0.71%
• 1M: 7.80%
• YTD: 24.56%
• 6M: 20.98%
• 1Y: 43.47%
• 3Y*: 25.53%
• 5Y*: 15.06%
• 10Y*: 14.21%

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

CZMVX vs. PKAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CZMVX Multi-Manager Value Strategies Fund	9.62%	12.82%	12.90%	11.85%	-7.94%	25.55%	5.88%	28.61%	-9.10%	17.86%
PKAIX PIMCO RAE US Fund	24.56%	17.19%	16.28%	17.02%	-3.36%	27.74%	3.94%	24.92%	-6.92%	15.49%

Correlation

The correlation between CZMVX and PKAIX is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Feb 2, 2017	0.92

The correlation between CZMVX and PKAIX has been stable across timeframes, ranging from 0.83 to 0.92 - a consistent structural relationship.

Return for Risk

CZMVX vs. PKAIX — Risk / Return Rank

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

CZMVX

CZMVX Risk / Return Rank: 60
CZMVX Sharpe Ratio Rank: 52
CZMVX Sortino Ratio Rank: 53
CZMVX Omega Ratio Rank: 49
CZMVX Calmar Ratio Rank: 76
CZMVX Martin Ratio Rank: 69

PKAIX

PKAIX Risk / Return Rank: 95
PKAIX Sharpe Ratio Rank: 96
PKAIX Sortino Ratio Rank: 93
PKAIX Omega Ratio Rank: 88
PKAIX Calmar Ratio Rank: 98
PKAIX Martin Ratio Rank: 97

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.

CZMVX vs. PKAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Multi-Manager Value Strategies Fund (CZMVX) and PIMCO RAE US Fund (PKAIX). 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.

	CZMVX	PKAIX	Difference
Sharpe ratio Return per unit of total volatility	2.14	3.52	-1.38
Sortino ratio Return per unit of downside risk	3.08	4.74	-1.66
Omega ratio Gain probability vs. loss probability	1.38	1.62	-0.24
Calmar ratio Return relative to maximum drawdown	3.46	8.80	-5.34
Martin ratio Return relative to average drawdown	13.32	27.00	-13.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CZMVX vs. PKAIX - Sharpe Ratio Comparison

The current CZMVX Sharpe Ratio is 2.14, which is lower than the PKAIX Sharpe Ratio of 3.52. The chart below compares the historical Sharpe Ratios of CZMVX and PKAIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CZMVX	PKAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	3.52	-1.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.85	-0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.76	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.70	-0.08

Drawdowns

CZMVX vs. PKAIX - Drawdown Comparison

The maximum CZMVX drawdown since its inception was -37.43%, roughly equal to the maximum PKAIX drawdown of -38.56%. Use the drawdown chart below to compare losses from any high point for CZMVX and PKAIX.

Drawdown Indicators

	CZMVX	PKAIX	Difference
Max Drawdown Largest peak-to-trough decline	-37.43%	-38.56%	+1.13%
Max Drawdown (1Y) Largest decline over 1 year	-6.23%	-5.15%	-1.08%
Max Drawdown (3Y) Largest decline over 3 years	-15.18%	-20.31%	+5.13%
Max Drawdown (5Y) Largest decline over 5 years	-19.85%	-20.64%	+0.79%
Max Drawdown (10Y) Largest decline over 10 years	—	-38.56%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.56%	-4.72%	+0.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.62%	1.67%	-0.05%

Volatility

CZMVX vs. PKAIX - Volatility Comparison

The current volatility for Multi-Manager Value Strategies Fund (CZMVX) is 2.20%, while PIMCO RAE US Fund (PKAIX) has a volatility of 3.11%. This indicates that CZMVX experiences smaller price fluctuations and is considered to be less risky than PKAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CZMVX	PKAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.20%	3.11%	-0.91%
Volatility (6M) Calculated over the trailing 6-month period	7.28%	9.37%	-2.09%
Volatility (1Y) Calculated over the trailing 1-year period	10.09%	12.88%	-2.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.81%	17.78%	-2.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.68%	18.85%	-1.17%

CZMVX vs. PKAIX - Expense Ratio Comparison

CZMVX has a 0.69% expense ratio, which is higher than PKAIX's 0.40% expense ratio.

Dividends

CZMVX vs. PKAIX - Dividend Comparison

CZMVX's dividend yield for the trailing twelve months is around 14.08%, more than PKAIX's 11.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CZMVX Multi-Manager Value Strategies Fund	14.08%	15.46%	9.03%	6.53%	11.79%	8.01%	2.45%	3.62%	8.47%	4.76%	0.00%	0.00%
PKAIX PIMCO RAE US Fund	11.05%	13.77%	16.77%	6.65%	8.09%	10.03%	3.20%	4.91%	6.85%	5.85%	5.33%	3.49%

Frequently Asked Questions

Can I hold both CZMVX and PKAIX in my portfolio?

CZMVX and PKAIX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CZMVX or PKAIX?

PKAIX has higher volatility (3.11%) compared to CZMVX (2.20%). In terms of maximum drawdown, CZMVX dropped -37.43% vs PKAIX's -38.56%.

Which has better risk-adjusted returns?

PKAIX currently has the higher Sharpe Ratio (3.52 vs 2.14), 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.