JHAIX vs. PDX

Last updated Aug 1, 2026

JHAIX (JHancock Multi-Asset Absolute Return Fund) and PDX (PIMCO Dynamic Income Strategy Fund) are both Tactical Allocation funds. Over the past 5 years, JHAIX returned 2.37%/yr vs 24.46%/yr for PDX. Their 0.16 correlation means their historical movements had little consistent relationship. JHAIX charges 1.26%/yr vs 2.31%/yr for PDX.

Performance

JHAIX vs. PDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JHancock Multi-Asset Absolute Return Fund (JHAIX) and PIMCO Dynamic Income Strategy Fund (PDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JHAIX achieves a 1.86% return, which is significantly lower than PDX's 19.01% return.

JHAIX

• 1D: 1.01%
• 1M: -0.45%
• 6M: 1.48%
• YTD: 1.86%
• 1Y: 5.69%
• 3Y*: 3.97%
• 5Y*: 2.37%
• 10Y*: 3.23%
• ALL TIME*: 3.18%

PDX

• 1D: 1.04%
• 1M: 2.79%
• 6M: 10.11%
• YTD: 19.01%
• 1Y: 9.12%
• 3Y*: 22.38%
• 5Y*: 24.46%
• 10Y*: —
• ALL TIME*: 11.08%

*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)
JHAIX JHancock Multi-Asset Absolute Return Fund	$0.00	$0.00	$0.00
PDX PIMCO Dynamic Income Strategy Fund	$1.81M	$1.96M	$1.82M

JHAIX vs. PDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
JHAIX JHancock Multi-Asset Absolute Return Fund	1.86%	4.47%	3.85%	4.88%	-5.30%	11.80%	2.10%	8.19%
PDX PIMCO Dynamic Income Strategy Fund	19.01%	-10.59%	36.99%	44.51%	23.02%	68.79%	-44.20%	-9.89%

Correlation

The correlation between JHAIX and PDX is 0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.04
Correlation (3Y) Balances recent behavior with more history.	0.14
Correlation (5Y) Shows whether the relationship held over a longer period.	0.15
Correlation (All Time) Calculated using the full available price history since Jan 30, 2019	0.16

The correlation between JHAIX and PDX shifts across timeframes, from 0.04 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.

Return for Risk

JHAIX vs. PDX — Risk / Return Rank

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

JHAIX

JHAIX Risk / Return Rank: 14
JHAIX Sharpe Ratio Rank: 14
JHAIX Sortino Ratio Rank: 14
JHAIX Omega Ratio Rank: 14
JHAIX Calmar Ratio Rank: 13
JHAIX Martin Ratio Rank: 14

PDX

PDX Risk / Return Rank: 13
PDX Sharpe Ratio Rank: 14
PDX Sortino Ratio Rank: 15
PDX Omega Ratio Rank: 15
PDX Calmar Ratio Rank: 11
PDX Martin Ratio Rank: 10

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.

JHAIX vs. PDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JHancock Multi-Asset Absolute Return Fund (JHAIX) and PIMCO Dynamic Income Strategy Fund (PDX). 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.

	JHAIX	PDX	Difference
Sharpe ratio: Return per unit of total volatility	0.59	0.55	+0.04
Sortino ratio: Return per unit of downside risk	0.91	0.86	+0.04
Omega ratio: Gain probability vs. loss probability	1.11	1.11	0.00
Calmar ratio: Return relative to maximum drawdown	0.69	0.49	+0.20
Martin ratio: Return relative to average drawdown	2.06	1.11	+0.95

JHAIX vs. PDX - Sharpe Ratio Comparison

The current JHAIX Sharpe Ratio is 0.59, which is comparable to the PDX Sharpe Ratio of 0.55. The chart below compares the historical Sharpe Ratios of JHAIX and PDX, 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

JHAIX vs. PDX - Drawdown Comparison

The maximum JHAIX drawdown since its inception was -10.61%, smaller than the maximum PDX drawdown of -80.63%. Use the drawdown chart below to compare losses from any high point for JHAIX and PDX.

Drawdown Indicators

	JHAIX	PDX	Difference
Max Drawdown Largest peak-to-trough decline	-10.61%	-80.63%	+70.02%
Max Drawdown (1Y) Largest decline over 1 year	-7.24%	-15.65%	+8.41%
Max Drawdown (3Y) Largest decline over 3 years	-7.24%	-37.24%	+30.00%
Max Drawdown (5Y) Largest decline over 5 years	-10.61%	-37.24%	+26.63%
Max Drawdown (10Y) Largest decline over 10 years	-10.61%	—	—
Current Drawdown Current decline from peak	-0.90%	-13.56%	+12.66%
Average Drawdown Average peak-to-trough decline	-2.68%	-18.75%	+16.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.43%	6.91%	-4.48%

Volatility

JHAIX vs. PDX - Volatility Comparison

The current volatility for JHancock Multi-Asset Absolute Return Fund (JHAIX) is 2.16%, while PIMCO Dynamic Income Strategy Fund (PDX) has a volatility of 3.26%. This indicates that JHAIX experiences smaller price fluctuations and is considered to be less risky than PDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JHAIX	PDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.16%	3.26%	-1.10%
Volatility (6M) Calculated over the trailing 6-month period	6.66%	9.52%	-2.86%
Volatility (1Y) Calculated over the trailing 1-year period	8.45%	13.94%	-5.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.31%	25.22%	-17.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.58%	36.12%	-29.54%

JHAIX vs. PDX - Expense Ratio Comparison

JHAIX has a 1.26% expense ratio, which is lower than PDX's 2.31% expense ratio.

Dividends

JHAIX vs. PDX - Dividend Comparison

JHAIX has not paid dividends to shareholders, while PDX's dividend yield for the trailing twelve months is around 21.40%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JHAIX JHancock Multi-Asset Absolute Return Fund	0.00%	0.00%	1.84%	0.00%	3.45%	0.00%	0.80%	17.08%	0.00%	0.00%	0.00%	6.92%
PDX PIMCO Dynamic Income Strategy Fund	21.40%	24.34%	6.31%	4.30%	5.89%	5.28%	14.11%	9.58%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JHAIX and PDX in my portfolio?

JHAIX and PDX have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JHAIX or PDX?

PDX has higher volatility (3.26%) compared to JHAIX (2.16%). In terms of maximum drawdown, JHAIX dropped -10.61% vs PDX's -80.63%.

Which has better risk-adjusted returns?

JHAIX currently has the higher Sharpe Ratio (0.59 vs 0.55), 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.