PAAIX vs. PBAIX
PAAIX (PIMCO All Asset Fund) and PBAIX (BlackRock Tactical Opportunities Fund Institutional Class) are both Tactical Allocation funds. Over the past 10 years, PAAIX returned 6.67%/yr vs 6.10%/yr for PBAIX. Their 0.36 correlation means their historical movements had little consistent relationship. PAAIX charges 1.40%/yr vs 0.77%/yr for PBAIX.
Performance
PAAIX vs. PBAIX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PAAIX achieves a 9.59% return, which is significantly lower than PBAIX's 10.31% return. Over the past 10 years, PAAIX has outperformed PBAIX with an annualized return of 6.67%, while PBAIX has yielded a comparatively lower 6.10% 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%
PBAIX
- 1D
- 0.93%
- 1M
- 0.98%
- 6M
- 9.55%
- YTD
- 10.31%
- 1Y
- 11.44%
- 3Y*
- 9.38%
- 5Y*
- 7.78%
- 10Y*
- 6.10%
- ALL TIME*
- 6.50%
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. PBAIX - 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% |
PBAIX BlackRock Tactical Opportunities Fund Institutional Class | 10.31% | 6.46% | 12.08% | 2.64% | 6.14% | 0.50% | 6.91% | 1.65% | 4.68% | 8.05% |
Correlation
The correlation between PAAIX and PBAIX is -0.14, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.14 |
Correlation (3Y) Balances recent behavior with more history. | 0.06 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.04 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.11 |
Correlation (All Time) Calculated using the full available price history since Aug 1, 2002 | 0.36 |
The correlation between PAAIX and PBAIX shifts across timeframes, from -0.14 (1 year) to 0.36 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PAAIX vs. PBAIX — Risk / Return Rank
PAAIX
PBAIX
PAAIX vs. PBAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO All Asset Fund (PAAIX) and BlackRock Tactical Opportunities Fund Institutional Class (PBAIX). 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 | PBAIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.89 | ||
| Sortino ratioReturn per unit of downside risk | +1.14 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.39 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 3.58 | 3.92 | -0.34 |
| Martin ratioReturn relative to average drawdown | 14.30 | 9.50 | +4.80 |
Loading charts...
Drawdowns
PAAIX vs. PBAIX - Drawdown Comparison
The maximum PAAIX drawdown since its inception was -27.59%, smaller than the maximum PBAIX drawdown of -39.26%. Use the drawdown chart below to compare losses from any high point for PAAIX and PBAIX.
Loading charts...
Drawdown Indicators
| PAAIX | PBAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.59% | -39.26% | +11.67% |
Max Drawdown (1Y)Largest decline over 1 year | -4.87% | -2.99% | -1.88% |
Max Drawdown (3Y)Largest decline over 3 years | -7.52% | -6.79% | -0.73% |
Max Drawdown (5Y)Largest decline over 5 years | -19.83% | -6.79% | -13.04% |
Max Drawdown (10Y)Largest decline over 10 years | -22.64% | -8.94% | -13.70% |
Current DrawdownCurrent decline from peak | -0.25% | -0.06% | -0.19% |
Average DrawdownAverage peak-to-trough decline | -3.75% | -4.28% | +0.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.22% | 1.23% | -0.01% |
Volatility
PAAIX vs. PBAIX - Volatility Comparison
The current volatility for PIMCO All Asset Fund (PAAIX) is 1.11%, while BlackRock Tactical Opportunities Fund Institutional Class (PBAIX) has a volatility of 1.66%. This indicates that PAAIX experiences smaller price fluctuations and is considered to be less risky than PBAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PAAIX | PBAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.11% | 1.66% | -0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 4.74% | 4.68% | +0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.98% | 5.74% | +0.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.76% | 6.44% | +1.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.74% | 6.10% | +1.64% |
PAAIX vs. PBAIX - Expense Ratio Comparison
PAAIX has a 1.40% expense ratio, which is higher than PBAIX's 0.77% expense ratio.
Dividends
PAAIX vs. PBAIX - Dividend Comparison
PAAIX's dividend yield for the trailing twelve months is around 8.03%, while PBAIX has not paid dividends to shareholders.
| 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% |
PBAIX BlackRock Tactical Opportunities Fund Institutional Class | 0.00% | 0.00% | 0.00% | 11.84% | 3.52% | 0.00% | 2.71% | 3.39% | 10.17% | 0.86% | 1.74% | 5.15% |
Frequently Asked Questions
PAAIX and PBAIX have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PBAIX has higher volatility (1.66%) compared to PAAIX (1.11%). In terms of maximum drawdown, PAAIX dropped -27.59% vs PBAIX's -39.26%.
PAAIX currently has the higher Sharpe Ratio (2.93 vs 2.04), 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.
Find the right allocation for PAAIX and PBAIX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer