HOBEX vs. PONPX

Last updated Jun 3, 2026

HOBEX (Holbrook Income Fund) and PONPX (PIMCO Income Fund Class I-2) are both mutual funds - HOBEX is a Short-Term Bond fund managed by Holbrook Holdings, while PONPX is a Total Bond Market fund managed by PIMCO. Over the past 5 years, HOBEX returned 3.82%/yr vs 3.35%/yr for PONPX. At a 0.41 correlation, their price movements are largely independent. HOBEX charges 1.60%/yr vs 0.72%/yr for PONPX.

Performance

HOBEX vs. PONPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Holbrook Income Fund (HOBEX) and PIMCO Income Fund Class I-2 (PONPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HOBEX achieves a 2.12% return, which is significantly higher than PONPX's 0.77% return.

HOBEX

• 1D: 0.00%
• 1M: 0.34%
• YTD: 2.12%
• 6M: 2.51%
• 1Y: 5.97%
• 3Y*: 6.65%
• 5Y*: 3.82%
• 10Y*: —

PONPX

• 1D: -0.18%
• 1M: 0.34%
• YTD: 0.77%
• 6M: 1.36%
• 1Y: 8.08%
• 3Y*: 7.69%
• 5Y*: 3.35%
• 10Y*: 4.59%

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

HOBEX vs. PONPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HOBEX Holbrook Income Fund	2.12%	7.23%	7.16%	4.74%	-3.42%	6.25%	6.83%	7.30%	1.26%	2.42%
PONPX PIMCO Income Fund Class I-2	0.77%	10.96%	5.33%	9.24%	-9.14%	2.51%	5.73%	7.99%	0.53%	8.52%

Correlation

The correlation between HOBEX and PONPX is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.48
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.41

Return for Risk

HOBEX vs. PONPX — Risk / Return Rank

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

HOBEX

HOBEX Risk / Return Rank: 97
HOBEX Sharpe Ratio Rank: 90
HOBEX Sortino Ratio Rank: 98
HOBEX Omega Ratio Rank: 99
HOBEX Calmar Ratio Rank: 99
HOBEX Martin Ratio Rank: 99

PONPX

PONPX Risk / Return Rank: 44
PONPX Sharpe Ratio Rank: 44
PONPX Sortino Ratio Rank: 48
PONPX Omega Ratio Rank: 47
PONPX Calmar Ratio Rank: 41
PONPX Martin Ratio Rank: 39

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.

HOBEX vs. PONPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Holbrook Income Fund (HOBEX) and PIMCO Income Fund Class I-2 (PONPX). 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.

	HOBEX	PONPX	Difference
Sharpe ratio Return per unit of total volatility	2.96	1.95	+1.01
Sortino ratio Return per unit of downside risk	7.83	2.92	+4.91
Omega ratio Gain probability vs. loss probability	2.62	1.38	+1.25
Calmar ratio Return relative to maximum drawdown	10.84	2.48	+8.36
Martin ratio Return relative to average drawdown	38.89	8.63	+30.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HOBEX vs. PONPX - Sharpe Ratio Comparison

The current HOBEX Sharpe Ratio is 2.96, which is higher than the PONPX Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of HOBEX and PONPX, 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

	HOBEX	PONPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.96	1.95	+1.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.47	0.70	+0.77
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.09	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	1.83	-1.05

Drawdowns

HOBEX vs. PONPX - Drawdown Comparison

The maximum HOBEX drawdown since its inception was -23.58%, which is greater than PONPX's maximum drawdown of -13.41%. Use the drawdown chart below to compare losses from any high point for HOBEX and PONPX.

Drawdown Indicators

	HOBEX	PONPX	Difference
Max Drawdown Largest peak-to-trough decline	-23.58%	-13.41%	-10.17%
Max Drawdown (1Y) Largest decline over 1 year	-0.61%	-3.69%	+3.08%
Max Drawdown (3Y) Largest decline over 3 years	-2.74%	-3.86%	+1.12%
Max Drawdown (5Y) Largest decline over 5 years	-4.57%	-13.41%	+8.84%
Max Drawdown (10Y) Largest decline over 10 years	—	-13.41%	—
Current Drawdown Current decline from peak	0.00%	-1.14%	+1.14%
Average Drawdown Average peak-to-trough decline	-1.06%	-1.45%	+0.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.17%	1.06%	-0.89%

Volatility

HOBEX vs. PONPX - Volatility Comparison

The current volatility for Holbrook Income Fund (HOBEX) is 0.52%, while PIMCO Income Fund Class I-2 (PONPX) has a volatility of 1.68%. This indicates that HOBEX experiences smaller price fluctuations and is considered to be less risky than PONPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HOBEX	PONPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.52%	1.68%	-1.16%
Volatility (6M) Calculated over the trailing 6-month period	1.67%	3.28%	-1.61%
Volatility (1Y) Calculated over the trailing 1-year period	2.07%	4.14%	-2.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.61%	4.83%	-2.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.72%	4.24%	+1.48%

HOBEX vs. PONPX - Expense Ratio Comparison

HOBEX has a 1.60% expense ratio, which is higher than PONPX's 0.72% expense ratio.

Dividends

HOBEX vs. PONPX - Dividend Comparison

HOBEX's dividend yield for the trailing twelve months is around 5.79%, which matches PONPX's 5.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HOBEX Holbrook Income Fund	5.79%	5.94%	6.58%	5.05%	4.83%	4.00%	5.44%	3.05%	3.84%	1.69%	0.00%	0.00%
PONPX PIMCO Income Fund Class I-2	5.74%	5.91%	6.16%	6.11%	4.89%	3.92%	4.78%	5.73%	5.56%	5.27%	5.42%	7.77%

Frequently Asked Questions

Can I hold both HOBEX and PONPX in my portfolio?

HOBEX and PONPX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HOBEX or PONPX?

PONPX has higher volatility (1.68%) compared to HOBEX (0.52%). In terms of maximum drawdown, HOBEX dropped -23.58% vs PONPX's -13.41%.

Which has better risk-adjusted returns?

HOBEX currently has the higher Sharpe Ratio (2.96 vs 1.95), 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.