EIPCX vs. PCLPX

Last updated Aug 1, 2026

EIPCX (Parametric Commodity Strategy Fund Class I) and PCLPX (PIMCO CommoditiesPLUS Strategy I2) are both Commodities funds. Over the past 10 years, EIPCX returned 10.87%/yr vs 12.24%/yr for PCLPX. Their correlation of 0.83 means they have usually moved in the same direction. EIPCX charges 0.66%/yr vs 0.92%/yr for PCLPX.

Performance

EIPCX vs. PCLPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Parametric Commodity Strategy Fund Class I (EIPCX) and PIMCO CommoditiesPLUS Strategy I2 (PCLPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EIPCX achieves a 20.06% return, which is significantly lower than PCLPX's 34.17% return. Over the past 10 years, EIPCX has underperformed PCLPX with an annualized return of 10.87%, while PCLPX has yielded a comparatively higher 12.24% annualized return.

EIPCX

• 1D: 0.13%
• 1M: 5.57%
• 6M: 11.64%
• YTD: 20.06%
• 1Y: 37.22%
• 3Y*: 14.91%
• 5Y*: 13.69%
• 10Y*: 10.87%
• ALL TIME*: 3.22%

PCLPX

• 1D: -0.49%
• 1M: 9.80%
• 6M: 25.22%
• YTD: 34.17%
• 1Y: 38.71%
• 3Y*: 12.16%
• 5Y*: 14.40%
• 10Y*: 12.24%
• ALL TIME*: 5.28%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EIPCX Parametric Commodity Strategy Fund Class I	$0.00	$0.00	$0.00
PCLPX PIMCO CommoditiesPLUS Strategy I2	$0.00	$0.00	$0.00

EIPCX vs. PCLPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EIPCX Parametric Commodity Strategy Fund Class I	20.06%	22.27%	9.97%	-4.70%	17.76%	30.13%	7.83%	9.58%	-9.45%	7.07%
PCLPX PIMCO CommoditiesPLUS Strategy I2	34.17%	4.45%	5.92%	0.24%	23.04%	43.50%	-9.12%	19.39%	-12.15%	10.53%

Correlation

The correlation between EIPCX and PCLPX is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.78
Correlation (3Y) Balances recent behavior with more history.	0.80
Correlation (5Y) Shows whether the relationship held over a longer period.	0.84
Correlation (10Y) Provides a long-term view across more market conditions.	0.82
Correlation (All Time) Calculated using the full available price history since May 26, 2011	0.83

The correlation between EIPCX and PCLPX has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.

Return for Risk

EIPCX vs. PCLPX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EIPCX

EIPCX Risk / Return Rank: 85
EIPCX Sharpe Ratio Rank: 93
EIPCX Sortino Ratio Rank: 86
EIPCX Omega Ratio Rank: 85
EIPCX Calmar Ratio Rank: 84
EIPCX Martin Ratio Rank: 77

PCLPX

PCLPX Risk / Return Rank: 70
PCLPX Sharpe Ratio Rank: 76
PCLPX Sortino Ratio Rank: 70
PCLPX Omega Ratio Rank: 71
PCLPX Calmar Ratio Rank: 71
PCLPX Martin Ratio Rank: 60

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EIPCX vs. PCLPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Parametric Commodity Strategy Fund Class I (EIPCX) and PIMCO CommoditiesPLUS Strategy I2 (PCLPX). 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.

	EIPCX	PCLPX	Difference
Sharpe ratio: Return per unit of total volatility	2.39	1.80	+0.59
Sortino ratio: Return per unit of downside risk	3.12	2.40	+0.72
Omega ratio: Gain probability vs. loss probability	1.41	1.31	+0.10
Calmar ratio: Return relative to maximum drawdown	2.82	2.32	+0.50
Martin ratio: Return relative to average drawdown	9.13	7.83	+1.31

EIPCX vs. PCLPX - Sharpe Ratio Comparison

The current EIPCX Sharpe Ratio is 2.39, which is higher than the PCLPX Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of EIPCX and PCLPX, 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

EIPCX vs. PCLPX - Drawdown Comparison

The maximum EIPCX drawdown since its inception was -54.05%, smaller than the maximum PCLPX drawdown of -66.98%. Use the drawdown chart below to compare losses from any high point for EIPCX and PCLPX.

Drawdown Indicators

	EIPCX	PCLPX	Difference
Max Drawdown Largest peak-to-trough decline	-54.05%	-66.98%	+12.93%
Max Drawdown (1Y) Largest decline over 1 year	-12.19%	-15.49%	+3.30%
Max Drawdown (3Y) Largest decline over 3 years	-12.19%	-15.49%	+3.30%
Max Drawdown (5Y) Largest decline over 5 years	-18.00%	-21.53%	+3.53%
Max Drawdown (10Y) Largest decline over 10 years	-28.53%	-51.87%	+23.34%
Current Drawdown Current decline from peak	-5.80%	-6.58%	+0.78%
Average Drawdown Average peak-to-trough decline	-24.06%	-24.50%	+0.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.77%	4.61%	-0.84%

Volatility

EIPCX vs. PCLPX - Volatility Comparison

The current volatility for Parametric Commodity Strategy Fund Class I (EIPCX) is 3.50%, while PIMCO CommoditiesPLUS Strategy I2 (PCLPX) has a volatility of 6.03%. This indicates that EIPCX experiences smaller price fluctuations and is considered to be less risky than PCLPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EIPCX	PCLPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.50%	6.03%	-2.53%
Volatility (6M) Calculated over the trailing 6-month period	11.28%	17.83%	-6.55%
Volatility (1Y) Calculated over the trailing 1-year period	14.36%	19.93%	-5.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.57%	19.59%	-5.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.28%	40.60%	-27.32%

EIPCX vs. PCLPX - Expense Ratio Comparison

EIPCX has a 0.66% expense ratio, which is lower than PCLPX's 0.92% expense ratio.

Dividends

EIPCX vs. PCLPX - Dividend Comparison

EIPCX's dividend yield for the trailing twelve months is around 11.10%, more than PCLPX's 10.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EIPCX Parametric Commodity Strategy Fund Class I	11.10%	13.33%	5.65%	3.69%	14.93%	13.83%	3.10%	1.54%	0.87%	5.14%	6.59%	0.00%
PCLPX PIMCO CommoditiesPLUS Strategy I2	10.55%	1.31%	5.22%	4.65%	43.16%	74.10%	0.71%	2.39%	18.62%	12.52%	0.15%	1.92%

Frequently Asked Questions

Can I hold both EIPCX and PCLPX in my portfolio?

EIPCX and PCLPX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EIPCX or PCLPX?

PCLPX has higher volatility (6.03%) compared to EIPCX (3.50%). In terms of maximum drawdown, EIPCX dropped -54.05% vs PCLPX's -66.98%.

Which has better risk-adjusted returns?

EIPCX currently has the higher Sharpe Ratio (2.39 vs 1.80), 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.