ETSIX vs. PONAX
ETSIX (Eaton Vance Strategic Income Fund Class I) and PONAX (PIMCO Income Fund Class A) are both Multisector Bonds funds. Both are actively managed. Over the past 10 years, ETSIX returned 4.78%/yr vs 4.31%/yr for PONAX. At a 0.45 correlation, their price movements are largely independent. ETSIX charges 1.46%/yr vs 0.94%/yr for PONAX.
Performance
ETSIX vs. PONAX - Performance Comparison
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Returns By Period
In the year-to-date period, ETSIX achieves a 2.49% return, which is significantly higher than PONAX's 0.83% return. Over the past 10 years, ETSIX has outperformed PONAX with an annualized return of 4.78%, while PONAX has yielded a comparatively lower 4.31% annualized return.
ETSIX
- 1D
- 0.29%
- 1M
- 1.01%
- YTD
- 2.49%
- 6M
- 2.98%
- 1Y
- 9.57%
- 3Y*
- 8.22%
- 5Y*
- 4.98%
- 10Y*
- 4.78%
PONAX
- 1D
- 0.09%
- 1M
- 1.16%
- YTD
- 0.83%
- 6M
- 1.39%
- 1Y
- 7.45%
- 3Y*
- 7.30%
- 5Y*
- 3.19%
- 10Y*
- 4.31%
ETSIX vs. PONAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ETSIX Eaton Vance Strategic Income Fund Class I | 2.49% | 10.88% | 6.38% | 8.24% | -2.55% | 1.33% | 7.52% | 6.58% | -2.68% | 4.90% |
PONAX PIMCO Income Fund Class A | 0.83% | 10.63% | 5.02% | 8.96% | -9.34% | 2.21% | 5.40% | 7.65% | 0.21% | 8.19% |
Correlation
The correlation between ETSIX and PONAX is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2007 | 0.45 |
Over the past year, ETSIX and PONAX have become more correlated (0.78) than their long-term average of 0.45, meaning their price movements have been converging.
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Return for Risk
ETSIX vs. PONAX — Risk / Return Rank
ETSIX
PONAX
ETSIX vs. PONAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Strategic Income Fund Class I (ETSIX) and PIMCO Income Fund Class A (PONAX). 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.
| ETSIX | PONAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.57 | ||
| Sortino ratioReturn per unit of downside risk | +2.27 | ||
| Omega ratioGain probability vs. loss probability | 1.75 | 1.35 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 4.02 | 2.03 | +1.99 |
| Martin ratioReturn relative to average drawdown | 13.77 | 6.75 | +7.02 |
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Drawdowns
ETSIX vs. PONAX - Drawdown Comparison
The maximum ETSIX drawdown since its inception was -12.63%, smaller than the maximum PONAX drawdown of -13.64%. Use the drawdown chart below to compare losses from any high point for ETSIX and PONAX.
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Drawdown Indicators
| ETSIX | PONAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.63% | -13.64% | +1.01% |
Max Drawdown (1Y)Largest decline over 1 year | -2.43% | -3.69% | +1.26% |
Max Drawdown (3Y)Largest decline over 3 years | -2.52% | -3.90% | +1.38% |
Max Drawdown (5Y)Largest decline over 5 years | -6.34% | -13.64% | +7.30% |
Max Drawdown (10Y)Largest decline over 10 years | -12.28% | -13.64% | +1.36% |
Current DrawdownCurrent decline from peak | -0.31% | -1.03% | +0.72% |
Average DrawdownAverage peak-to-trough decline | -1.43% | -1.79% | +0.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.71% | 1.11% | -0.40% |
Volatility
ETSIX vs. PONAX - Volatility Comparison
The current volatility for Eaton Vance Strategic Income Fund Class I (ETSIX) is 1.12%, while PIMCO Income Fund Class A (PONAX) has a volatility of 1.41%. This indicates that ETSIX experiences smaller price fluctuations and is considered to be less risky than PONAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETSIX | PONAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 1.41% | -0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 2.34% | 3.36% | -1.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.88% | 4.12% | -1.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.23% | 4.83% | -1.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.16% | 4.22% | -1.06% |
ETSIX vs. PONAX - Expense Ratio Comparison
ETSIX has a 1.46% expense ratio, which is higher than PONAX's 0.94% expense ratio.
Dividends
ETSIX vs. PONAX - Dividend Comparison
ETSIX's dividend yield for the trailing twelve months is around 7.08%, more than PONAX's 5.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETSIX Eaton Vance Strategic Income Fund Class I | 7.08% | 5.65% | 6.97% | 6.93% | 5.56% | 4.31% | 4.19% | 4.29% | 3.98% | 3.70% | 3.94% | 4.32% |
PONAX PIMCO Income Fund Class A | 5.43% | 5.61% | 5.86% | 5.86% | 4.66% | 3.62% | 4.48% | 5.42% | 5.24% | 4.97% | 5.13% | 7.45% |
Frequently Asked Questions
ETSIX and PONAX 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.
PONAX has higher volatility (1.41%) compared to ETSIX (1.12%). In terms of maximum drawdown, ETSIX dropped -12.63% vs PONAX's -13.64%.
ETSIX currently has the higher Sharpe Ratio (3.40 vs 1.82), 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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