KIO vs. PAXS
KIO (KKR Income Opportunities Fund) and PAXS (PIMCO Access Income Fund) are both Multisector Bonds funds. Over the past 3 years, KIO returned 9.15%/yr vs 10.95%/yr for PAXS. Their 0.42 correlation means their historical movements had little consistent relationship.
Performance
KIO vs. PAXS - Performance Comparison
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Returns By Period
In the year-to-date period, KIO achieves a 2.40% return, which is significantly higher than PAXS's -0.71% return.
KIO
- 1D
- -0.54%
- 1M
- -2.04%
- 6M
- 1.34%
- YTD
- 2.40%
- 1Y
- -2.11%
- 3Y*
- 9.15%
- 5Y*
- 3.63%
- 10Y*
- 7.25%
- ALL TIME*
- 5.88%
PAXS
- 1D
- -0.42%
- 1M
- -2.49%
- 6M
- -6.06%
- YTD
- -0.71%
- 1Y
- 1.79%
- 3Y*
- 10.95%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.79M | $2.44M | $2.08M | |
| $2.58M | $2.33M | $2.69M |
KIO vs. PAXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
KIO KKR Income Opportunities Fund | 2.40% | -2.49% | 18.45% | 31.53% | -23.11% |
PAXS PIMCO Access Income Fund | -0.71% | 12.58% | 19.51% | 9.30% | -16.66% |
Correlation
The correlation between KIO and PAXS is 0.45, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.45 |
Correlation (3Y) Balances recent behavior with more history. | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2022 | 0.42 |
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Return for Risk
KIO vs. PAXS — Risk / Return Rank
KIO
PAXS
KIO vs. PAXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KKR Income Opportunities Fund (KIO) and PIMCO Access Income Fund (PAXS). 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.
| KIO | PAXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.58 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.05 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.21 | 0.20 | -0.40 |
| Martin ratioReturn relative to average drawdown | -0.44 | 0.49 | -0.93 |
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Drawdowns
KIO vs. PAXS - Drawdown Comparison
The maximum KIO drawdown since its inception was -43.87%, which is greater than PAXS's maximum drawdown of -22.28%. Use the drawdown chart below to compare losses from any high point for KIO and PAXS.
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Drawdown Indicators
| KIO | PAXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.87% | -22.28% | -21.59% |
Max Drawdown (1Y)Largest decline over 1 year | -11.01% | -12.10% | +1.09% |
Max Drawdown (3Y)Largest decline over 3 years | -22.85% | -13.40% | -9.45% |
Max Drawdown (5Y)Largest decline over 5 years | -31.87% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -43.87% | — | — |
Current DrawdownCurrent decline from peak | -8.84% | -6.06% | -2.78% |
Average DrawdownAverage peak-to-trough decline | -8.08% | -7.49% | -0.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.15% | 4.88% | +0.27% |
Volatility
KIO vs. PAXS - Volatility Comparison
The current volatility for KKR Income Opportunities Fund (KIO) is 2.61%, while PIMCO Access Income Fund (PAXS) has a volatility of 3.20%. This indicates that KIO experiences smaller price fluctuations and is considered to be less risky than PAXS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KIO | PAXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.61% | 3.20% | -0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 7.92% | 9.96% | -2.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.28% | 12.48% | -2.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.20% | 17.26% | -4.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.33% | 17.26% | -0.93% |
Dividends
KIO vs. PAXS - Dividend Comparison
KIO's dividend yield for the trailing twelve months is around 13.24%, more than PAXS's 12.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KIO KKR Income Opportunities Fund | 13.24% | 12.58% | 10.90% | 11.32% | 11.44% | 7.45% | 10.12% | 9.51% | 10.53% | 9.66% | 9.92% | 10.81% |
PAXS PIMCO Access Income Fund | 12.66% | 11.72% | 11.76% | 12.54% | 13.30% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
KIO and PAXS have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PAXS has higher volatility (3.20%) compared to KIO (2.61%). In terms of maximum drawdown, KIO dropped -43.87% vs PAXS's -22.28%.
PAXS currently has the higher Sharpe Ratio (0.19 vs -0.22), 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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