PAAIX vs. PONPX

Last updated Apr 1, 2026

Compare and contrast key facts about PIMCO All Asset Fund (PAAIX) and PIMCO Income Fund Class I-2 (PONPX).

PAAIX is managed by PIMCO. It was launched on Nov 5, 2002. PONPX is managed by PIMCO.

Performance

PAAIX vs. PONPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO All Asset Fund (PAAIX) and PIMCO Income Fund Class I-2 (PONPX). The values are adjusted to include any dividend payments, if applicable.

PAAIX vs. PONPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PAAIX PIMCO All Asset Fund	2.90%	13.20%	4.12%	8.19%	-11.52%	15.61%	8.38%	12.21%	-4.97%	13.99%
PONPX PIMCO Income Fund Class I-2	-1.37%	10.96%	5.33%	9.24%	-9.14%	2.51%	5.73%	7.99%	0.53%	8.52%

Returns By Period

In the year-to-date period, PAAIX achieves a 2.90% return, which is significantly higher than PONPX's -1.37% return. Over the past 10 years, PAAIX has outperformed PONPX with an annualized return of 6.70%, while PONPX has yielded a comparatively lower 4.55% annualized return.

PAAIX

• 1D: 0.34%
• 1M: -4.54%
• YTD: 2.90%
• 6M: 5.80%
• 1Y: 14.16%
• 3Y*: 8.11%
• 5Y*: 4.79%
• 10Y*: 6.70%

PONPX

• 1D: 0.47%
• 1M: -3.24%
• YTD: -1.37%
• 6M: 1.11%
• 1Y: 5.97%
• 3Y*: 7.09%
• 5Y*: 3.28%
• 10Y*: 4.55%

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

PAAIX vs. PONPX - Expense Ratio Comparison

PAAIX has a 1.40% expense ratio, which is higher than PONPX's 0.72% expense ratio.

PAAIX

PIMCO All Asset Fund

PONPX

PIMCO Income Fund Class I-2

Return for Risk

PAAIX vs. PONPX — Risk / Return Rank

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

PAAIX

PAAIX Risk / Return Rank: 90
PAAIX Sharpe Ratio Rank: 93
PAAIX Sortino Ratio Rank: 92
PAAIX Omega Ratio Rank: 90
PAAIX Calmar Ratio Rank: 88
PAAIX Martin Ratio Rank: 89

PONPX

PONPX Risk / Return Rank: 80
PONPX Sharpe Ratio Rank: 83
PONPX Sortino Ratio Rank: 85
PONPX Omega Ratio Rank: 77
PONPX Calmar Ratio Rank: 79
PONPX Martin Ratio Rank: 77

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.

PAAIX vs. PONPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO All Asset Fund (PAAIX) and PIMCO Income Fund Class I-2 (PONPX). 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.

	PAAIX	PONPX	Difference
Sharpe ratio Return per unit of total volatility	2.06	1.54	+0.52
Sortino ratio Return per unit of downside risk	2.67	2.21	+0.46
Omega ratio Gain probability vs. loss probability	1.40	1.29	+0.11
Calmar ratio Return relative to maximum drawdown	2.29	1.84	+0.44
Martin ratio Return relative to average drawdown	9.91	7.43	+2.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PAAIX vs. PONPX - Sharpe Ratio Comparison

The current PAAIX Sharpe Ratio is 2.06, which is higher than the PONPX Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of PAAIX and PONPX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PAAIX	PONPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	1.54	+0.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	0.70	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.86	1.09	-0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	1.82	-0.90

Correlation

The correlation between PAAIX and PONPX is 0.55, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

PAAIX vs. PONPX - Dividend Comparison

PAAIX's dividend yield for the trailing twelve months is around 7.58%, more than PONPX's 5.48% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PAAIX PIMCO All Asset Fund	7.58%	7.12%	5.92%	3.20%	7.68%	11.90%	3.56%	3.33%	5.50%	4.48%	3.60%	3.93%
PONPX PIMCO Income Fund Class I-2	5.48%	5.91%	6.16%	6.11%	4.89%	3.92%	4.78%	5.73%	5.56%	5.27%	5.42%	7.77%

Drawdowns

PAAIX vs. PONPX - Drawdown Comparison

The maximum PAAIX drawdown since its inception was -27.59%, which is greater than PONPX's maximum drawdown of -13.41%. Use the drawdown chart below to compare losses from any high point for PAAIX and PONPX.

Drawdown Indicators

	PAAIX	PONPX	Difference
Max Drawdown Largest peak-to-trough decline	-27.59%	-13.41%	-14.18%
Max Drawdown (1Y) Largest decline over 1 year	-6.23%	-3.69%	-2.54%
Max Drawdown (5Y) Largest decline over 5 years	-19.83%	-13.41%	-6.42%
Max Drawdown (10Y) Largest decline over 10 years	-22.64%	-13.41%	-9.23%
Current Drawdown Current decline from peak	-4.54%	-3.24%	-1.30%
Average Drawdown Average peak-to-trough decline	-3.79%	-1.44%	-2.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.44%	0.92%	+0.52%

Volatility

PAAIX vs. PONPX - Volatility Comparison

PIMCO All Asset Fund (PAAIX) has a higher volatility of 2.40% compared to PIMCO Income Fund Class I-2 (PONPX) at 1.88%. This indicates that PAAIX's price experiences larger fluctuations and is considered to be riskier than PONPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAAIX	PONPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.40%	1.88%	+0.52%
Volatility (6M) Calculated over the trailing 6-month period	4.25%	2.64%	+1.61%
Volatility (1Y) Calculated over the trailing 1-year period	6.98%	4.27%	+2.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.79%	4.75%	+3.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.80%	4.19%	+3.61%