PAAIX vs. PASAX
PAAIX (PIMCO All Asset Fund) and PASAX (PIMCO All Asset Fund Class A) are both Tactical Allocation funds from PIMCO. Over the past 10 years, PAAIX returned 6.67%/yr vs 6.21%/yr for PASAX. Their 0.98 correlation means they have historically moved very closely together. PAAIX charges 1.40%/yr vs 2.24%/yr for PASAX.
Performance
PAAIX vs. PASAX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with PAAIX having a 9.59% return and PASAX slightly lower at 9.33%. Over the past 10 years, PAAIX has outperformed PASAX with an annualized return of 6.67%, while PASAX has yielded a comparatively lower 6.21% annualized return.
PAAIX
- 1D
- 0.00%
- 1M
- 0.58%
- 6M
- 6.06%
- YTD
- 9.59%
- 1Y
- 17.71%
- 3Y*
- 9.30%
- 5Y*
- 4.78%
- 10Y*
- 6.67%
- ALL TIME*
- 6.75%
PASAX
- 1D
- 0.00%
- 1M
- 0.58%
- 6M
- 5.90%
- YTD
- 9.33%
- 1Y
- 17.27%
- 3Y*
- 8.89%
- 5Y*
- 4.34%
- 10Y*
- 6.21%
- ALL TIME*
- 5.63%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
PAAIX PIMCO All Asset Fund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
PAAIX vs. PASAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PAAIX PIMCO All Asset Fund | 9.59% | 13.20% | 4.12% | 8.19% | -11.52% | 15.61% | 8.38% | 12.21% | -4.97% | 13.99% |
PASAX PIMCO All Asset Fund Class A | 9.33% | 12.85% | 3.66% | 7.66% | -11.90% | 15.14% | 7.93% | 11.72% | -5.47% | 13.50% |
Correlation
The correlation between PAAIX and PASAX is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.99 |
Correlation (3Y) Balances recent behavior with more history. | 0.99 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.99 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.99 |
Correlation (All Time) Calculated using the full available price history since Apr 30, 2003 | 0.98 |
The correlation between PAAIX and PASAX has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
PAAIX vs. PASAX — Risk / Return Rank
PAAIX
PASAX
PAAIX vs. PASAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO All Asset Fund (PAAIX) and PIMCO All Asset Fund Class A (PASAX). 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.
| PAAIX | PASAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.55 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.58 | 3.49 | +0.10 |
| Martin ratioReturn relative to average drawdown | 14.30 | 13.83 | +0.46 |
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Drawdowns
PAAIX vs. PASAX - Drawdown Comparison
The maximum PAAIX drawdown since its inception was -27.59%, roughly equal to the maximum PASAX drawdown of -27.81%. Use the drawdown chart below to compare losses from any high point for PAAIX and PASAX.
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Drawdown Indicators
| PAAIX | PASAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.59% | -27.81% | +0.22% |
Max Drawdown (1Y)Largest decline over 1 year | -4.87% | -4.88% | +0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -7.52% | -7.65% | +0.13% |
Max Drawdown (5Y)Largest decline over 5 years | -19.83% | -20.00% | +0.17% |
Max Drawdown (10Y)Largest decline over 10 years | -22.64% | -22.70% | +0.06% |
Current DrawdownCurrent decline from peak | -0.25% | -0.16% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -3.75% | -4.06% | +0.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.22% | 1.23% | -0.01% |
Volatility
PAAIX vs. PASAX - Volatility Comparison
PIMCO All Asset Fund (PAAIX) and PIMCO All Asset Fund Class A (PASAX) have volatilities of 1.11% and 1.12%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PAAIX | PASAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.11% | 1.12% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 4.74% | 4.74% | 0.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.98% | 5.97% | +0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.76% | 7.71% | +0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.74% | 7.70% | +0.04% |
PAAIX vs. PASAX - Expense Ratio Comparison
PAAIX has a 1.40% expense ratio, which is lower than PASAX's 2.24% expense ratio.
Dividends
PAAIX vs. PASAX - Dividend Comparison
PAAIX's dividend yield for the trailing twelve months is around 8.03%, more than PASAX's 7.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PAAIX PIMCO All Asset Fund | 8.03% | 7.12% | 5.92% | 3.20% | 7.68% | 11.90% | 3.56% | 3.33% | 5.50% | 4.48% | 3.60% | 3.93% |
PASAX PIMCO All Asset Fund Class A | 7.67% | 6.80% | 5.47% | 2.81% | 7.19% | 11.47% | 3.18% | 2.90% | 5.02% | 4.07% | 3.12% | 3.36% |
Frequently Asked Questions
With a correlation of 0.99, PAAIX and PASAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
PASAX has higher volatility (1.12%) compared to PAAIX (1.11%). In terms of maximum drawdown, PAAIX dropped -27.59% vs PASAX's -27.81%.
PAAIX currently has the higher Sharpe Ratio (2.93 vs 2.86), 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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