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OARK vs. PONAX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

OARK vs. PONAX

Last updated Jun 20, 2026

OARK (YieldMax Innovation Option Income Strategy ETF) and PONAX (PIMCO Income Fund Class A) are both funds - OARK is a Options Trading fund actively managed by YieldMax, while PONAX is a Multisector Bonds fund actively managed by PIMCO. Both are actively managed. Over the past 3 years, OARK returned 12.99%/yr vs 7.30%/yr for PONAX. At a 0.25 correlation, their price movements are largely independent. OARK charges 0.99%/yr vs 0.94%/yr for PONAX.

Performance

OARK vs. PONAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Innovation Option Income Strategy ETF (OARK) and PIMCO Income Fund Class A (PONAX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, OARK achieves a 7.87% return, which is significantly higher than PONAX's 0.83% return.

OARK

1D
1.86%
1M
3.77%
YTD
7.87%
6M
5.24%
1Y
23.73%
3Y*
12.99%
5Y*
—
10Y*
—

PONAX

1D
0.09%
1M
1.54%
YTD
0.83%
6M
1.39%
1Y
7.45%
3Y*
7.30%
5Y*
3.19%
10Y*
4.31%
*Multi-year figures are annualized to reflect compound growth (CAGR)

OARK vs. PONAX - Yearly Performance Comparison

2026 (YTD)2025202420232022
OARK
YieldMax Innovation Option Income Strategy ETF		7.87%20.37%7.32%20.12%-9.11%
PONAX
PIMCO Income Fund Class A		0.83%10.63%5.02%8.96%1.23%

Correlation

The correlation between OARK and PONAX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.33

Correlation (3Y)
Calculated over the trailing 3-year period

0.24

Correlation (All Time)
Calculated using the full available price history since Nov 23, 2022

0.25

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

YieldMax Innovation Option Income Strategy ETF

PIMCO Income Fund Class A

Often compared with OARK:
OARK vs. ARKKOARK vs. TSLYOARK vs. NVDYOARK vs. QQQYOARK vs. CONYOARK vs. AIYYOARK vs. FLJH
Often compared with PONAX:
PONAX vs. PIMIXPONAX vs. BNDPONAX vs. BINCPONAX vs. VBTLXPONAX vs. PTTRXPONAX vs. FAGIXPONAX vs. SAMBX

Return for Risk

OARK vs. PONAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
OARK
OARK Risk / Return Rank: 2323
Overall Rank
OARK Sharpe Ratio Rank: 2424
Sharpe Ratio Rank
OARK Sortino Ratio Rank: 2323
Sortino Ratio Rank
OARK Omega Ratio Rank: 2323
Omega Ratio Rank
OARK Calmar Ratio Rank: 2323
Calmar Ratio Rank
OARK Martin Ratio Rank: 2020
Martin Ratio Rank
PONAX
PONAX Risk / Return Rank: 4444
Overall Rank
PONAX Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
PONAX Sortino Ratio Rank: 5353
Sortino Ratio Rank
PONAX Omega Ratio Rank: 5151
Omega Ratio Rank
PONAX Calmar Ratio Rank: 3434
Calmar Ratio Rank
PONAX Martin Ratio Rank: 3333
Martin Ratio Rank
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.

OARK vs. PONAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Innovation Option Income Strategy ETF (OARK) and PIMCO Income Fund Class A (PONAX). 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.

OARKPONAXDifference
Sharpe ratioReturn per unit of total volatility
0.84
1.82

-0.98

Sortino ratioReturn per unit of downside risk
1.26
2.70

-1.44

Omega ratioGain probability vs. loss probability

1.16

1.35

-0.19

Calmar ratioReturn relative to maximum drawdown

1.02

2.03

-1.01

Martin ratioReturn relative to average drawdown

2.39

6.75

-4.35

OARK vs. PONAX - Sharpe Ratio Comparison

The current OARK Sharpe Ratio is 0.84, which is lower than the PONAX Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of OARK and PONAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

OARK vs. PONAX - Drawdown Comparison

The maximum OARK drawdown since its inception was -35.48%, which is greater than PONAX's maximum drawdown of -13.64%. Use the drawdown chart below to compare losses from any high point for OARK and PONAX.

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Drawdown Indicators

OARKPONAXDifference

Max Drawdown

Largest peak-to-trough decline

-35.48%

-13.64%

-21.84%

Max Drawdown (1Y)

Largest decline over 1 year

-23.26%

-3.69%

-19.57%

Max Drawdown (3Y)

Largest decline over 3 years

-35.48%

-3.90%

-31.58%

Max Drawdown (5Y)

Largest decline over 5 years

—

-13.64%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-13.64%

—

Current Drawdown

Current decline from peak

-5.20%

-1.03%

-4.17%

Average Drawdown

Average peak-to-trough decline

-10.54%

-1.79%

-8.75%

Ulcer Index

Depth and duration of drawdowns from previous peaks

9.94%

1.11%

+8.83%

Volatility

OARK vs. PONAX - Volatility Comparison

YieldMax Innovation Option Income Strategy ETF (OARK) has a higher volatility of 9.51% compared to PIMCO Income Fund Class A (PONAX) at 1.41%. This indicates that OARK's price experiences larger fluctuations and is considered to be riskier than PONAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

OARKPONAXDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.51%

1.41%

+8.10%

Volatility (6M)

Calculated over the trailing 6-month period

21.26%

3.36%

+17.90%

Volatility (1Y)

Calculated over the trailing 1-year period

28.57%

4.12%

+24.45%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

30.95%

4.83%

+26.12%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

30.95%

4.22%

+26.73%

OARK vs. PONAX - Expense Ratio Comparison

OARK has a 0.99% expense ratio, which is higher than PONAX's 0.94% expense ratio.

Dividends

OARK vs. PONAX - Dividend Comparison

OARK's dividend yield for the trailing twelve months is around 60.86%, more than PONAX's 5.43% yield.

PositionTTM20252024202320222021202020192018201720162015
OARK
YieldMax Innovation Option Income Strategy ETF		60.86%61.86%47.86%45.03%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
PONAX
PIMCO Income Fund Class A		5.43%5.61%5.86%5.86%4.66%3.62%4.48%5.42%5.24%4.97%5.13%7.45%

Frequently Asked Questions

OARK and PONAX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

OARK has higher volatility (9.51%) compared to PONAX (1.41%). In terms of maximum drawdown, OARK dropped -35.48% vs PONAX's -13.64%.

PONAX currently has the higher Sharpe Ratio (1.82 vs 0.84), 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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