FFAAX vs. PMFYX
FFAAX (Franklin Global Allocation Fund) and PMFYX (Pioneer Multi-Asset Income Fund) are both Global Allocation funds. Over the past 10 years, FFAAX returned 7.51%/yr vs 8.65%/yr for PMFYX. Their 0.69 correlation means they have sometimes moved together and sometimes differently. FFAAX charges 0.66%/yr vs 0.65%/yr for PMFYX.
Performance
FFAAX vs. PMFYX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with FFAAX having a 7.47% return and PMFYX slightly higher at 7.54%. Over the past 10 years, FFAAX has underperformed PMFYX with an annualized return of 7.51%, while PMFYX has yielded a comparatively higher 8.65% annualized return.
FFAAX
- 1D
- 1.33%
- 1M
- -0.16%
- 6M
- 5.18%
- YTD
- 7.47%
- 1Y
- 16.33%
- 3Y*
- 13.60%
- 5Y*
- 8.02%
- 10Y*
- 7.51%
- ALL TIME*
- 6.91%
PMFYX
- 1D
- 0.07%
- 1M
- 1.42%
- 6M
- 4.85%
- YTD
- 7.54%
- 1Y
- 15.66%
- 3Y*
- 12.66%
- 5Y*
- 9.04%
- 10Y*
- 8.65%
- ALL TIME*
- 8.40%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FFAAX vs. PMFYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FFAAX Franklin Global Allocation Fund | 7.47% | 16.24% | 13.12% | 13.24% | -11.61% | 12.01% | 1.70% | 18.06% | -9.60% | 11.59% |
PMFYX Pioneer Multi-Asset Income Fund | 7.54% | 23.15% | 6.28% | 7.04% | -0.34% | 12.25% | 5.38% | 11.13% | -5.91% | 18.23% |
Correlation
The correlation between FFAAX and PMFYX is 0.48, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.48 |
Correlation (3Y) Balances recent behavior with more history. | 0.50 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.57 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.64 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 2011 | 0.69 |
Over the past year, the correlation between FFAAX and PMFYX has dropped to 0.48 - well below their long-term average of 0.69, suggesting their price drivers have been diverging.
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Return for Risk
FFAAX vs. PMFYX — Risk / Return Rank
FFAAX
PMFYX
FFAAX vs. PMFYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Global Allocation Fund (FFAAX) and Pioneer Multi-Asset Income Fund (PMFYX). 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.
| FFAAX | PMFYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.96 | ||
| Sortino ratioReturn per unit of downside risk | -1.54 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.48 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.28 | 3.74 | -1.46 |
| Martin ratioReturn relative to average drawdown | 9.85 | 13.09 | -3.23 |
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Drawdowns
FFAAX vs. PMFYX - Drawdown Comparison
The maximum FFAAX drawdown since its inception was -52.89%, which is greater than PMFYX's maximum drawdown of -24.23%. Use the drawdown chart below to compare losses from any high point for FFAAX and PMFYX.
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Drawdown Indicators
| FFAAX | PMFYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.89% | -24.23% | -28.66% |
Max Drawdown (1Y)Largest decline over 1 year | -6.64% | -4.08% | -2.56% |
Max Drawdown (3Y)Largest decline over 3 years | -10.89% | -7.92% | -2.97% |
Max Drawdown (5Y)Largest decline over 5 years | -18.17% | -13.62% | -4.55% |
Max Drawdown (10Y)Largest decline over 10 years | -30.09% | -24.23% | -5.86% |
Current DrawdownCurrent decline from peak | -1.03% | -0.07% | -0.96% |
Average DrawdownAverage peak-to-trough decline | -7.08% | -2.58% | -4.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.54% | 1.17% | +0.37% |
Volatility
FFAAX vs. PMFYX - Volatility Comparison
Franklin Global Allocation Fund (FFAAX) has a higher volatility of 2.74% compared to Pioneer Multi-Asset Income Fund (PMFYX) at 1.91%. This indicates that FFAAX's price experiences larger fluctuations and is considered to be riskier than PMFYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FFAAX | PMFYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.74% | 1.91% | +0.83% |
Volatility (6M)Calculated over the trailing 6-month period | 7.96% | 4.91% | +3.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.45% | 5.96% | +3.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.15% | 7.27% | +2.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.34% | 7.54% | +3.80% |
FFAAX vs. PMFYX - Expense Ratio Comparison
FFAAX has a 0.66% expense ratio, which is higher than PMFYX's 0.65% expense ratio.
Dividends
FFAAX vs. PMFYX - Dividend Comparison
FFAAX's dividend yield for the trailing twelve months is around 4.99%, less than PMFYX's 5.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FFAAX Franklin Global Allocation Fund | 4.99% | 5.12% | 1.33% | 1.88% | 4.66% | 0.90% | 7.65% | 3.24% | 4.24% | 3.19% | 2.40% | 3.22% |
PMFYX Pioneer Multi-Asset Income Fund | 5.79% | 6.48% | 5.48% | 4.87% | 5.00% | 5.70% | 5.58% | 6.00% | 6.07% | 6.88% | 5.72% | 6.14% |
Frequently Asked Questions
FFAAX and PMFYX 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.
FFAAX has higher volatility (2.74%) compared to PMFYX (1.91%). In terms of maximum drawdown, FFAAX dropped -52.89% vs PMFYX's -24.23%.
PMFYX currently has the higher Sharpe Ratio (2.57 vs 1.60), 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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