LOCFX vs. PBXIX
LOCFX (Lord Abbett Convertible Fund Class F3) and PBXIX (Rational/Pier 88 Convertible Securities Fund) are both Convertible Bonds funds. Over the past 5 years, LOCFX returned 5.31%/yr vs 3.06%/yr for PBXIX. Their correlation of 0.82 means they have usually moved in the same direction. LOCFX charges 0.82%/yr vs 0.99%/yr for PBXIX.
Performance
LOCFX vs. PBXIX - Performance Comparison
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Returns By Period
In the year-to-date period, LOCFX achieves a 12.04% return, which is significantly higher than PBXIX's 10.10% return.
LOCFX
- 1D
- 2.95%
- 1M
- -3.66%
- 6M
- 5.82%
- YTD
- 12.04%
- 1Y
- 23.43%
- 3Y*
- 16.89%
- 5Y*
- 5.31%
- 10Y*
- —
- ALL TIME*
- 11.56%
PBXIX
- 1D
- 0.69%
- 1M
- -0.34%
- 6M
- 8.72%
- YTD
- 10.10%
- 1Y
- 10.85%
- 3Y*
- 8.26%
- 5Y*
- 3.06%
- 10Y*
- —
- ALL TIME*
- 5.98%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
LOCFX vs. PBXIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
LOCFX Lord Abbett Convertible Fund Class F3 | 12.04% | 22.43% | 14.00% | 7.30% | -23.12% | 1.40% | 64.47% | 2.41% |
PBXIX Rational/Pier 88 Convertible Securities Fund | 10.10% | 2.12% | 8.23% | 3.28% | -10.82% | 10.23% | 17.09% | 1.70% |
Correlation
The correlation between LOCFX and PBXIX is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.67 |
Correlation (3Y) Balances recent behavior with more history. | 0.74 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.80 |
Correlation (All Time) Calculated using the full available price history since Dec 6, 2019 | 0.82 |
The correlation between LOCFX and PBXIX shifts across timeframes, from 0.67 (1 year) to 0.82 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
LOCFX vs. PBXIX — Risk / Return Rank
LOCFX
PBXIX
LOCFX vs. PBXIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lord Abbett Convertible Fund Class F3 (LOCFX) and Rational/Pier 88 Convertible Securities Fund (PBXIX). 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.
| LOCFX | PBXIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.24 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 1.90 | +0.10 |
| Martin ratioReturn relative to average drawdown | 7.73 | 7.25 | +0.47 |
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Drawdowns
LOCFX vs. PBXIX - Drawdown Comparison
The maximum LOCFX drawdown since its inception was -33.29%, which is greater than PBXIX's maximum drawdown of -24.03%. Use the drawdown chart below to compare losses from any high point for LOCFX and PBXIX.
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Drawdown Indicators
| LOCFX | PBXIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.29% | -24.03% | -9.26% |
Max Drawdown (1Y)Largest decline over 1 year | -11.13% | -5.16% | -5.97% |
Max Drawdown (3Y)Largest decline over 3 years | -12.09% | -10.71% | -1.38% |
Max Drawdown (5Y)Largest decline over 5 years | -30.60% | -15.57% | -15.03% |
Current DrawdownCurrent decline from peak | -8.50% | -0.68% | -7.82% |
Average DrawdownAverage peak-to-trough decline | -11.10% | -5.39% | -5.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.88% | 1.35% | +1.53% |
Volatility
LOCFX vs. PBXIX - Volatility Comparison
Lord Abbett Convertible Fund Class F3 (LOCFX) has a higher volatility of 5.76% compared to Rational/Pier 88 Convertible Securities Fund (PBXIX) at 1.55%. This indicates that LOCFX's price experiences larger fluctuations and is considered to be riskier than PBXIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LOCFX | PBXIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.76% | 1.55% | +4.21% |
Volatility (6M)Calculated over the trailing 6-month period | 13.79% | 5.36% | +8.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.80% | 7.20% | +9.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.41% | 8.64% | +4.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.16% | 11.41% | +2.75% |
LOCFX vs. PBXIX - Expense Ratio Comparison
LOCFX has a 0.82% expense ratio, which is lower than PBXIX's 0.99% expense ratio.
Dividends
LOCFX vs. PBXIX - Dividend Comparison
LOCFX's dividend yield for the trailing twelve months is around 1.39%, less than PBXIX's 4.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
LOCFX Lord Abbett Convertible Fund Class F3 | 1.39% | 1.86% | 2.29% | 2.06% | 2.72% | 18.36% | 16.20% | 8.75% | 5.02% | 2.08% |
PBXIX Rational/Pier 88 Convertible Securities Fund | 4.97% | 3.48% | 2.14% | 2.22% | 2.25% | 7.56% | 1.77% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
LOCFX and PBXIX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LOCFX has higher volatility (5.76%) compared to PBXIX (1.55%). In terms of maximum drawdown, LOCFX dropped -33.29% vs PBXIX's -24.03%.
PBXIX currently has the higher Sharpe Ratio (1.36 vs 1.33), 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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