KIO vs. PFL
KIO (KKR Income Opportunities Fund) and PFL (PIMCO Income Strategy Fund) are both Multisector Bonds funds. Over the past 10 years, KIO returned 7.21%/yr vs 7.57%/yr for PFL. Their 0.41 correlation means their historical movements had little consistent relationship.
Performance
KIO vs. PFL - Performance Comparison
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Returns By Period
In the year-to-date period, KIO achieves a 2.31% return, which is significantly higher than PFL's -1.48% return. Both investments have delivered pretty close results over the past 10 years, with KIO having a 7.21% annualized return and PFL not far ahead at 7.57%.
KIO
- 1D
- -0.09%
- 1M
- -2.13%
- 6M
- 0.38%
- YTD
- 2.31%
- 1Y
- -2.19%
- 3Y*
- 9.61%
- 5Y*
- 3.32%
- 10Y*
- 7.21%
- ALL TIME*
- 5.87%
PFL
- 1D
- 0.26%
- 1M
- -0.37%
- 6M
- -2.43%
- YTD
- -1.48%
- 1Y
- 2.99%
- 3Y*
- 10.08%
- 5Y*
- 1.01%
- 10Y*
- 7.57%
- ALL TIME*
- 6.40%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.83M | $2.45M | $2.07M | |
| $1.18M | $2.39M | $1.79M |
KIO vs. PFL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KIO KKR Income Opportunities Fund | 2.31% | -2.49% | 18.45% | 31.53% | -28.25% | 26.82% | 2.04% | 21.92% | -2.53% | 9.68% |
PFL PIMCO Income Strategy Fund | -1.48% | 13.03% | 11.51% | 17.29% | -17.92% | 4.62% | 7.11% | 19.65% | 2.06% | 21.26% |
Correlation
The correlation between KIO and PFL is 0.38, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.38 |
Correlation (3Y) Balances recent behavior with more history. | 0.36 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.44 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2013 | 0.41 |
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Return for Risk
KIO vs. PFL — Risk / Return Rank
KIO
PFL
KIO vs. PFL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KKR Income Opportunities Fund (KIO) and PIMCO Income Strategy Fund (PFL). 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 | PFL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -0.74 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.07 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | 0.39 | -0.59 |
| Martin ratioReturn relative to average drawdown | -0.43 | 1.04 | -1.47 |
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Drawdowns
KIO vs. PFL - Drawdown Comparison
The maximum KIO drawdown since its inception was -43.87%, smaller than the maximum PFL drawdown of -77.97%. Use the drawdown chart below to compare losses from any high point for KIO and PFL.
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Drawdown Indicators
| KIO | PFL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.87% | -77.97% | +34.10% |
Max Drawdown (1Y)Largest decline over 1 year | -11.01% | -7.64% | -3.37% |
Max Drawdown (3Y)Largest decline over 3 years | -22.85% | -12.89% | -9.96% |
Max Drawdown (5Y)Largest decline over 5 years | -31.87% | -33.30% | +1.43% |
Max Drawdown (10Y)Largest decline over 10 years | -43.87% | -48.40% | +4.53% |
Current DrawdownCurrent decline from peak | -8.92% | -3.36% | -5.56% |
Average DrawdownAverage peak-to-trough decline | -8.08% | -10.95% | +2.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.16% | 2.87% | +2.29% |
Volatility
KIO vs. PFL - Volatility Comparison
KKR Income Opportunities Fund (KIO) has a higher volatility of 2.61% compared to PIMCO Income Strategy Fund (PFL) at 2.21%. This indicates that KIO's price experiences larger fluctuations and is considered to be riskier than PFL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KIO | PFL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.61% | 2.21% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 7.91% | 8.45% | -0.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.29% | 9.53% | +0.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.19% | 13.59% | -0.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.34% | 18.32% | -1.98% |
Dividends
KIO vs. PFL - Dividend Comparison
KIO's dividend yield for the trailing twelve months is around 13.25%, more than PFL's 12.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KIO KKR Income Opportunities Fund | 13.25% | 12.58% | 10.90% | 11.32% | 11.44% | 7.45% | 10.12% | 9.51% | 10.53% | 9.66% | 9.92% | 10.81% |
PFL PIMCO Income Strategy Fund | 12.61% | 11.59% | 11.66% | 11.57% | 12.04% | 9.53% | 9.44% | 9.11% | 9.94% | 9.25% | 10.22% | 11.09% |
Frequently Asked Questions
KIO and PFL have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KIO has higher volatility (2.61%) compared to PFL (2.21%). In terms of maximum drawdown, KIO dropped -43.87% vs PFL's -77.97%.
PFL currently has the higher Sharpe Ratio (0.32 vs -0.21), 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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