LSOFX vs. PWLIX

Last updated Jun 4, 2026

LSOFX (LS Opportunity Fund - Institutional Class) and PWLIX (PIMCO RAE Worldwide Long/Short PLUS Fund) are both Long-Short funds. Over the past 10 years, LSOFX returned 6.77%/yr vs 4.60%/yr for PWLIX. At a 0.35 correlation, their price movements are largely independent. LSOFX charges 1.95%/yr vs 1.19%/yr for PWLIX.

Performance

LSOFX vs. PWLIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LS Opportunity Fund - Institutional Class (LSOFX) and PIMCO RAE Worldwide Long/Short PLUS Fund (PWLIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LSOFX achieves a 1.39% return, which is significantly higher than PWLIX's -0.41% return. Over the past 10 years, LSOFX has outperformed PWLIX with an annualized return of 6.77%, while PWLIX has yielded a comparatively lower 4.60% annualized return.

LSOFX

• 1D: -0.33%
• 1M: -1.35%
• YTD: 1.39%
• 6M: 1.82%
• 1Y: 4.09%
• 3Y*: 7.44%
• 5Y*: 4.43%
• 10Y*: 6.77%

PWLIX

• 1D: 0.41%
• 1M: -2.79%
• YTD: -0.41%
• 6M: -1.48%
• 1Y: -0.18%
• 3Y*: 4.67%
• 5Y*: 4.35%
• 10Y*: 4.60%

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

LSOFX vs. PWLIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LSOFX LS Opportunity Fund - Institutional Class	1.39%	3.85%	8.28%	11.00%	-3.12%	12.42%	4.35%	18.31%	-3.57%	9.59%
PWLIX PIMCO RAE Worldwide Long/Short PLUS Fund	-0.41%	4.64%	4.65%	4.04%	4.33%	15.15%	-12.66%	9.60%	0.49%	11.80%

Correlation

The correlation between LSOFX and PWLIX is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.23
Correlation (10Y) Calculated over the trailing 10-year period	0.33
Correlation (All Time) Calculated using the full available price history since Dec 9, 2014	0.35

Over the past year, the correlation between LSOFX and PWLIX has dropped to 0.10 - well below their long-term average of 0.35, suggesting their price drivers have been diverging.

Return for Risk

LSOFX vs. PWLIX — Risk / Return Rank

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

LSOFX

LSOFX Risk / Return Rank: 7
LSOFX Sharpe Ratio Rank: 7
LSOFX Sortino Ratio Rank: 7
LSOFX Omega Ratio Rank: 6
LSOFX Calmar Ratio Rank: 8
LSOFX Martin Ratio Rank: 8

PWLIX

PWLIX Risk / Return Rank: 2
PWLIX Sharpe Ratio Rank: 3
PWLIX Sortino Ratio Rank: 2
PWLIX Omega Ratio Rank: 2
PWLIX Calmar Ratio Rank: 2
PWLIX Martin Ratio Rank: 2

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.

LSOFX vs. PWLIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LS Opportunity Fund - Institutional Class (LSOFX) and PIMCO RAE Worldwide Long/Short PLUS Fund (PWLIX). 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.

	LSOFX	PWLIX	Difference
Sharpe ratio: Return per unit of total volatility	0.56	-0.02	+0.58
Sortino ratio: Return per unit of downside risk	0.88	0.03	+0.85
Omega ratio: Gain probability vs. loss probability	1.10	1.00	+0.10
Calmar ratio: Return relative to maximum drawdown	0.82	-0.02	+0.84
Martin ratio: Return relative to average drawdown	2.29	-0.06	+2.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LSOFX vs. PWLIX - Sharpe Ratio Comparison

The current LSOFX Sharpe Ratio is 0.56, which is higher than the PWLIX Sharpe Ratio of -0.02. The chart below compares the historical Sharpe Ratios of LSOFX and PWLIX, 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

	LSOFX	PWLIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.56	-0.02	+0.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.49	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	0.51	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.43	+0.20

Drawdowns

LSOFX vs. PWLIX - Drawdown Comparison

The maximum LSOFX drawdown since its inception was -22.05%, smaller than the maximum PWLIX drawdown of -26.92%. Use the drawdown chart below to compare losses from any high point for LSOFX and PWLIX.

Drawdown Indicators

	LSOFX	PWLIX	Difference
Max Drawdown Largest peak-to-trough decline	-22.05%	-26.92%	+4.87%
Max Drawdown (1Y) Largest decline over 1 year	-5.36%	-9.43%	+4.07%
Max Drawdown (3Y) Largest decline over 3 years	-10.43%	-11.74%	+1.31%
Max Drawdown (5Y) Largest decline over 5 years	-13.00%	-11.74%	-1.26%
Max Drawdown (10Y) Largest decline over 10 years	-22.05%	-26.92%	+4.87%
Current Drawdown Current decline from peak	-2.09%	-9.06%	+6.97%
Average Drawdown Average peak-to-trough decline	-3.33%	-4.18%	+0.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	3.22%	-1.31%

Volatility

LSOFX vs. PWLIX - Volatility Comparison

The current volatility for LS Opportunity Fund - Institutional Class (LSOFX) is 2.12%, while PIMCO RAE Worldwide Long/Short PLUS Fund (PWLIX) has a volatility of 2.58%. This indicates that LSOFX experiences smaller price fluctuations and is considered to be less risky than PWLIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LSOFX	PWLIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.12%	2.58%	-0.46%
Volatility (6M) Calculated over the trailing 6-month period	5.80%	6.55%	-0.75%
Volatility (1Y) Calculated over the trailing 1-year period	7.80%	8.43%	-0.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.82%	8.96%	+0.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.25%	9.00%	+1.25%

LSOFX vs. PWLIX - Expense Ratio Comparison

LSOFX has a 1.95% expense ratio, which is higher than PWLIX's 1.19% expense ratio.

Dividends

LSOFX vs. PWLIX - Dividend Comparison

LSOFX's dividend yield for the trailing twelve months is around 4.74%, less than PWLIX's 6.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LSOFX LS Opportunity Fund - Institutional Class	4.74%	4.81%	0.98%	0.00%	5.27%	4.35%	1.28%	2.35%	2.71%	3.91%	0.00%	6.74%
PWLIX PIMCO RAE Worldwide Long/Short PLUS Fund	6.67%	6.65%	4.75%	5.51%	14.75%	11.99%	7.31%	6.79%	0.39%	10.82%	4.16%	3.61%

Frequently Asked Questions

Can I hold both LSOFX and PWLIX in my portfolio?

LSOFX and PWLIX have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LSOFX or PWLIX?

PWLIX has higher volatility (2.58%) compared to LSOFX (2.12%). In terms of maximum drawdown, LSOFX dropped -22.05% vs PWLIX's -26.92%.

Which has better risk-adjusted returns?

LSOFX currently has the higher Sharpe Ratio (0.56 vs -0.02), 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.