PAAIX vs. PTY

Last updated Jun 24, 2026

PAAIX (PIMCO All Asset Fund) and PTY (PIMCO Corporate & Income Opportunity Fund) are both mutual funds - PAAIX is a Tactical Allocation fund managed by PIMCO, while PTY is a Corporate Bonds fund managed by PIMCO. Over the past 10 years, PAAIX returned 7.08%/yr vs 8.56%/yr for PTY. At a 0.32 correlation, their price movements are largely independent. PAAIX charges 1.40%/yr vs 1.19%/yr for PTY.

Performance

PAAIX vs. PTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO All Asset Fund (PAAIX) and PIMCO Corporate & Income Opportunity Fund (PTY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PAAIX achieves a 8.69% return, which is significantly higher than PTY's -3.45% return. Over the past 10 years, PAAIX has underperformed PTY with an annualized return of 7.08%, while PTY has yielded a comparatively higher 8.56% annualized return.

PAAIX

• 1D: 0.08%
• 1M: 0.31%
• YTD: 8.69%
• 6M: 8.86%
• 1Y: 18.11%
• 3Y*: 10.14%
• 5Y*: 4.73%
• 10Y*: 7.08%

PTY

• 1D: 0.60%
• 1M: 0.76%
• YTD: -3.45%
• 6M: -2.62%
• 1Y: -3.79%
• 3Y*: 5.46%
• 5Y*: -0.17%
• 10Y*: 8.56%

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

PAAIX vs. PTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PAAIX PIMCO All Asset Fund	8.69%	13.20%	4.12%	8.19%	-11.52%	15.61%	8.38%	12.21%	-4.97%	13.99%
PTY PIMCO Corporate & Income Opportunity Fund	-3.45%	-0.51%	19.87%	22.56%	-18.71%	0.40%	3.24%	35.36%	2.49%	26.63%

Correlation

The correlation between PAAIX and PTY is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (10Y) Calculated over the trailing 10-year period	0.35
Correlation (All Time) Calculated using the full available price history since Dec 26, 2002	0.32

Return for Risk

PAAIX vs. PTY — Risk / Return Rank

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

PAAIX

PAAIX Risk / Return Rank: 89
PAAIX Sharpe Ratio Rank: 95
PAAIX Sortino Ratio Rank: 93
PAAIX Omega Ratio Rank: 87
PAAIX Calmar Ratio Rank: 85
PAAIX Martin Ratio Rank: 86

PTY

PTY Risk / Return Rank: 1
PTY Sharpe Ratio Rank: 1
PTY Sortino Ratio Rank: 1
PTY Omega Ratio Rank: 1
PTY Calmar Ratio Rank: 2
PTY 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.

PAAIX vs. PTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO All Asset Fund (PAAIX) and PIMCO Corporate & Income Opportunity Fund (PTY). 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	PTY	Difference
Sharpe ratio: Return per unit of total volatility	3.05	-0.35	+3.40
Sortino ratio: Return per unit of downside risk	4.35	-0.40	+4.75
Omega ratio: Gain probability vs. loss probability	1.57	0.94	+0.63
Calmar ratio: Return relative to maximum drawdown	3.82	-0.25	+4.06
Martin ratio: Return relative to average drawdown	15.22	-0.47	+15.69

PAAIX vs. PTY - Sharpe Ratio Comparison

The current PAAIX Sharpe Ratio is 3.05, which is higher than the PTY Sharpe Ratio of -0.35. The chart below compares the historical Sharpe Ratios of PAAIX and PTY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PAAIX vs. PTY - Drawdown Comparison

The maximum PAAIX drawdown since its inception was -27.59%, smaller than the maximum PTY drawdown of -60.86%. Use the drawdown chart below to compare losses from any high point for PAAIX and PTY.

Drawdown Indicators

	PAAIX	PTY	Difference
Max Drawdown Largest peak-to-trough decline	-27.59%	-60.86%	+33.27%
Max Drawdown (1Y) Largest decline over 1 year	-4.87%	-15.44%	+10.57%
Max Drawdown (3Y) Largest decline over 3 years	-7.59%	-16.04%	+8.45%
Max Drawdown (5Y) Largest decline over 5 years	-19.83%	-41.38%	+21.55%
Max Drawdown (10Y) Largest decline over 10 years	-22.64%	-46.55%	+23.91%
Current Drawdown Current decline from peak	-0.90%	-12.37%	+11.47%
Average Drawdown Average peak-to-trough decline	-3.76%	-8.62%	+4.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.22%	8.11%	-6.89%

Volatility

PAAIX vs. PTY - Volatility Comparison

PIMCO All Asset Fund (PAAIX) and PIMCO Corporate & Income Opportunity Fund (PTY) have volatilities of 1.94% and 1.99%, 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.

Volatility by Period

	PAAIX	PTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.94%	1.99%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	4.80%	7.66%	-2.86%
Volatility (1Y) Calculated over the trailing 1-year period	6.11%	10.92%	-4.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.79%	17.27%	-9.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.78%	21.19%	-13.41%

PAAIX vs. PTY - Expense Ratio Comparison

PAAIX has a 1.40% expense ratio, which is higher than PTY's 1.19% expense ratio.

Dividends

PAAIX vs. PTY - Dividend Comparison

PAAIX's dividend yield for the trailing twelve months is around 8.10%, less than PTY's 12.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PAAIX PIMCO All Asset Fund	8.10%	7.12%	5.92%	3.20%	7.68%	11.90%	3.56%	3.33%	5.50%	4.48%	3.60%	3.93%
PTY PIMCO Corporate & Income Opportunity Fund	12.12%	11.05%	9.92%	10.77%	13.12%	9.16%	8.74%	8.37%	10.63%	9.48%	12.09%	11.92%

Frequently Asked Questions

Can I hold both PAAIX and PTY in my portfolio?

PAAIX and PTY have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PAAIX or PTY?

PTY has higher volatility (1.99%) compared to PAAIX (1.94%). In terms of maximum drawdown, PAAIX dropped -27.59% vs PTY's -60.86%.

Which has better risk-adjusted returns?

PAAIX currently has the higher Sharpe Ratio (3.05 vs -0.35), 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.