EIBLX vs. PCLAX
EIBLX (Eaton Vance Floating Rate Fund) and PCLAX (PIMCO CommoditiesPLUS Strategy Fund) are both mutual funds - EIBLX is a Bank Loan fund managed by Eaton Vance, while PCLAX is a Commodities fund managed by PIMCO. Over the past 10 years, EIBLX returned 4.71%/yr vs 10.46%/yr for PCLAX. At a 0.15 correlation, their price movements are largely independent. EIBLX charges 0.76%/yr vs 1.19%/yr for PCLAX.
Performance
EIBLX vs. PCLAX - Performance Comparison
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Returns By Period
In the year-to-date period, EIBLX achieves a 0.61% return, which is significantly lower than PCLAX's 24.93% return. Over the past 10 years, EIBLX has underperformed PCLAX with an annualized return of 4.71%, while PCLAX has yielded a comparatively higher 10.46% annualized return.
EIBLX
- 1D
- -0.13%
- 1M
- 0.27%
- YTD
- 0.61%
- 6M
- 0.96%
- 1Y
- 3.25%
- 3Y*
- 6.57%
- 5Y*
- 4.77%
- 10Y*
- 4.71%
PCLAX
- 1D
- -0.82%
- 1M
- -9.67%
- YTD
- 24.93%
- 6M
- 22.47%
- 1Y
- 27.20%
- 3Y*
- 12.72%
- 5Y*
- 13.19%
- 10Y*
- 10.46%
EIBLX vs. PCLAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EIBLX Eaton Vance Floating Rate Fund | 0.61% | 3.90% | 8.14% | 12.29% | -2.34% | 4.33% | 2.38% | 7.07% | 0.81% | 4.48% |
PCLAX PIMCO CommoditiesPLUS Strategy Fund | 24.93% | 4.13% | 5.76% | -0.14% | 22.73% | 43.18% | -9.67% | 19.19% | -12.47% | 10.30% |
Correlation
The correlation between EIBLX and PCLAX is -0.13, 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 | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Jun 1, 2010 | 0.15 |
The correlation between EIBLX and PCLAX shifts across timeframes, from -0.13 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EIBLX vs. PCLAX — Risk / Return Rank
EIBLX
PCLAX
EIBLX vs. PCLAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Floating Rate Fund (EIBLX) and PIMCO CommoditiesPLUS Strategy Fund (PCLAX). 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.
| EIBLX | PCLAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +1.31 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.23 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.94 | 1.87 | +0.08 |
| Martin ratioReturn relative to average drawdown | 5.92 | 7.92 | -2.00 |
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Drawdowns
EIBLX vs. PCLAX - Drawdown Comparison
The maximum EIBLX drawdown since its inception was -32.53%, smaller than the maximum PCLAX drawdown of -68.19%. Use the drawdown chart below to compare losses from any high point for EIBLX and PCLAX.
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Drawdown Indicators
| EIBLX | PCLAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.53% | -68.19% | +35.66% |
Max Drawdown (1Y)Largest decline over 1 year | -1.68% | -12.90% | +11.22% |
Max Drawdown (3Y)Largest decline over 3 years | -2.72% | -13.76% | +11.04% |
Max Drawdown (5Y)Largest decline over 5 years | -6.27% | -21.75% | +15.48% |
Max Drawdown (10Y)Largest decline over 10 years | -18.70% | -52.00% | +33.30% |
Current DrawdownCurrent decline from peak | -0.25% | -12.90% | +12.65% |
Average DrawdownAverage peak-to-trough decline | -1.65% | -25.60% | +23.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | 3.45% | -2.90% |
Volatility
EIBLX vs. PCLAX - Volatility Comparison
The current volatility for Eaton Vance Floating Rate Fund (EIBLX) is 0.62%, while PIMCO CommoditiesPLUS Strategy Fund (PCLAX) has a volatility of 4.57%. This indicates that EIBLX experiences smaller price fluctuations and is considered to be less risky than PCLAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EIBLX | PCLAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.62% | 4.57% | -3.95% |
Volatility (6M)Calculated over the trailing 6-month period | 1.60% | 17.18% | -15.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.28% | 19.53% | -17.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.77% | 19.54% | -16.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.53% | 40.66% | -37.13% |
EIBLX vs. PCLAX - Expense Ratio Comparison
EIBLX has a 0.76% expense ratio, which is lower than PCLAX's 1.19% expense ratio.
Dividends
EIBLX vs. PCLAX - Dividend Comparison
EIBLX's dividend yield for the trailing twelve months is around 7.05%, less than PCLAX's 11.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EIBLX Eaton Vance Floating Rate Fund | 7.05% | 7.58% | 8.29% | 8.58% | 5.02% | 3.32% | 3.68% | 5.01% | 4.46% | 3.82% | 4.14% | 4.33% |
PCLAX PIMCO CommoditiesPLUS Strategy Fund | 11.62% | 1.20% | 5.20% | 4.58% | 44.24% | 75.67% | 0.45% | 2.07% | 18.31% | 12.18% | 0.09% | 1.77% |
Frequently Asked Questions
EIBLX and PCLAX have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PCLAX has higher volatility (4.57%) compared to EIBLX (0.62%). In terms of maximum drawdown, EIBLX dropped -32.53% vs PCLAX's -68.19%.
EIBLX currently has the higher Sharpe Ratio (1.44 vs 1.24), 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.
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