ICSIX vs. PAAIX

Last updated Jun 4, 2026

ICSIX (Dynamic U.S. Opportunity Fund) and PAAIX (PIMCO All Asset Fund) are both Tactical Allocation funds. Over the past 10 years, ICSIX returned 11.09%/yr vs 7.14%/yr for PAAIX. A 0.61 correlation means they provide meaningful diversification when combined. ICSIX charges 1.24%/yr vs 1.40%/yr for PAAIX.

Performance

ICSIX vs. PAAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dynamic U.S. Opportunity Fund (ICSIX) and PIMCO All Asset Fund (PAAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ICSIX achieves a 6.82% return, which is significantly lower than PAAIX's 9.42% return. Over the past 10 years, ICSIX has outperformed PAAIX with an annualized return of 11.09%, while PAAIX has yielded a comparatively lower 7.14% annualized return.

ICSIX

• 1D: 0.20%
• 1M: 3.70%
• YTD: 6.82%
• 6M: 7.66%
• 1Y: 19.33%
• 3Y*: 13.44%
• 5Y*: 8.79%
• 10Y*: 11.09%

PAAIX

• 1D: 0.49%
• 1M: 1.72%
• YTD: 9.42%
• 6M: 9.86%
• 1Y: 20.09%
• 3Y*: 10.55%
• 5Y*: 4.75%
• 10Y*: 7.14%

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

ICSIX vs. PAAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ICSIX Dynamic U.S. Opportunity Fund	6.82%	16.41%	8.16%	16.05%	-7.52%	16.14%	18.73%	25.95%	-11.12%	15.19%
PAAIX PIMCO All Asset Fund	9.42%	13.20%	4.12%	8.19%	-11.52%	15.61%	8.38%	12.21%	-4.97%	13.99%

Correlation

The correlation between ICSIX and PAAIX is 0.59, 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	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.62
Correlation (All Time) Calculated using the full available price history since Jan 3, 2012	0.61

The correlation between ICSIX and PAAIX has been stable across timeframes, ranging from 0.59 to 0.68 - a consistent structural relationship.

Return for Risk

ICSIX vs. PAAIX — Risk / Return Rank

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

ICSIX

ICSIX Risk / Return Rank: 50
ICSIX Sharpe Ratio Rank: 45
ICSIX Sortino Ratio Rank: 42
ICSIX Omega Ratio Rank: 42
ICSIX Calmar Ratio Rank: 60
ICSIX Martin Ratio Rank: 64

PAAIX

PAAIX Risk / Return Rank: 91
PAAIX Sharpe Ratio Rank: 95
PAAIX Sortino Ratio Rank: 94
PAAIX Omega Ratio Rank: 91
PAAIX Calmar Ratio Rank: 86
PAAIX Martin Ratio Rank: 87

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.

ICSIX vs. PAAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dynamic U.S. Opportunity Fund (ICSIX) and PIMCO All Asset Fund (PAAIX). 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.

	ICSIX	PAAIX	Difference
Sharpe ratio Return per unit of total volatility	1.97	3.42	-1.46
Sortino ratio Return per unit of downside risk	2.73	4.92	-2.20
Omega ratio Gain probability vs. loss probability	1.35	1.65	-0.30
Calmar ratio Return relative to maximum drawdown	2.99	4.16	-1.17
Martin ratio Return relative to average drawdown	12.48	16.73	-4.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ICSIX vs. PAAIX - Sharpe Ratio Comparison

The current ICSIX Sharpe Ratio is 1.97, which is lower than the PAAIX Sharpe Ratio of 3.42. The chart below compares the historical Sharpe Ratios of ICSIX and PAAIX, 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

	ICSIX	PAAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.97	3.42	-1.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.61	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.71	0.92	-0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.95	-0.31

Drawdowns

ICSIX vs. PAAIX - Drawdown Comparison

The maximum ICSIX drawdown since its inception was -25.63%, smaller than the maximum PAAIX drawdown of -27.59%. Use the drawdown chart below to compare losses from any high point for ICSIX and PAAIX.

Drawdown Indicators

	ICSIX	PAAIX	Difference
Max Drawdown Largest peak-to-trough decline	-25.63%	-27.59%	+1.96%
Max Drawdown (1Y) Largest decline over 1 year	-6.73%	-4.87%	-1.86%
Max Drawdown (3Y) Largest decline over 3 years	-24.90%	-7.59%	-17.31%
Max Drawdown (5Y) Largest decline over 5 years	-24.90%	-19.83%	-5.07%
Max Drawdown (10Y) Largest decline over 10 years	-25.63%	-22.64%	-2.99%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.23%	-3.77%	+0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.61%	1.21%	+0.40%

Volatility

ICSIX vs. PAAIX - Volatility Comparison

Dynamic U.S. Opportunity Fund (ICSIX) has a higher volatility of 2.30% compared to PIMCO All Asset Fund (PAAIX) at 1.99%. This indicates that ICSIX's price experiences larger fluctuations and is considered to be riskier than PAAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ICSIX	PAAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.30%	1.99%	+0.31%
Volatility (6M) Calculated over the trailing 6-month period	7.32%	4.60%	+2.72%
Volatility (1Y) Calculated over the trailing 1-year period	10.25%	5.92%	+4.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.49%	7.78%	+8.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.63%	7.80%	+7.83%

ICSIX vs. PAAIX - Expense Ratio Comparison

ICSIX has a 1.24% expense ratio, which is lower than PAAIX's 1.40% expense ratio.

Dividends

ICSIX vs. PAAIX - Dividend Comparison

ICSIX's dividend yield for the trailing twelve months is around 17.91%, more than PAAIX's 7.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ICSIX Dynamic U.S. Opportunity Fund	17.91%	19.13%	19.10%	0.97%	2.55%	5.47%	5.78%	0.49%	12.55%	2.50%	4.76%	2.22%
PAAIX PIMCO All Asset Fund	7.12%	7.12%	5.92%	3.20%	7.68%	11.90%	3.56%	3.33%	5.50%	4.48%	3.60%	3.93%

Frequently Asked Questions

Can I hold both ICSIX and PAAIX in my portfolio?

ICSIX and PAAIX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ICSIX or PAAIX?

ICSIX has higher volatility (2.30%) compared to PAAIX (1.99%). In terms of maximum drawdown, ICSIX dropped -25.63% vs PAAIX's -27.59%.

Which has better risk-adjusted returns?

PAAIX currently has the higher Sharpe Ratio (3.42 vs 1.97), 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.