PAFGX vs. GAA
Compare and contrast key facts about T. Rowe Price Global Allocation Fund (PAFGX) and Cambria Global Asset Allocation ETF (GAA).
PAFGX is managed by T. Rowe Price. It was launched on May 27, 2013. GAA is an actively managed fund by Cambria. It was launched on Dec 9, 2014.
Performance
PAFGX vs. GAA - Performance Comparison
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PAFGX vs. GAA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PAFGX T. Rowe Price Global Allocation Fund | -0.57% | 14.75% | 9.43% | 13.48% | -14.80% | 8.83% | 14.45% | 19.91% | -7.15% | 15.77% |
GAA Cambria Global Asset Allocation ETF | 4.83% | 18.76% | 6.67% | 7.65% | -8.47% | 11.17% | 9.11% | 15.12% | -7.15% | 15.11% |
Returns By Period
In the year-to-date period, PAFGX achieves a -0.57% return, which is significantly lower than GAA's 4.83% return. Both investments have delivered pretty close results over the past 10 years, with PAFGX having a 7.34% annualized return and GAA not far ahead at 7.46%.
PAFGX
- 1D
- 1.74%
- 1M
- -4.59%
- YTD
- -0.57%
- 6M
- 1.77%
- 1Y
- 12.42%
- 3Y*
- 10.81%
- 5Y*
- 4.74%
- 10Y*
- 7.34%
GAA
- 1D
- 0.91%
- 1M
- -2.65%
- YTD
- 4.83%
- 6M
- 8.44%
- 1Y
- 20.85%
- 3Y*
- 12.32%
- 5Y*
- 6.47%
- 10Y*
- 7.46%
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PAFGX vs. GAA - Expense Ratio Comparison
PAFGX has a 1.02% expense ratio, which is higher than GAA's 0.41% expense ratio.
Return for Risk
PAFGX vs. GAA — Risk / Return Rank
PAFGX
GAA
PAFGX vs. GAA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Global Allocation Fund (PAFGX) and Cambria Global Asset Allocation ETF (GAA). 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.
| PAFGX | GAA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.28 | 2.03 | -0.74 |
Sortino ratioReturn per unit of downside risk | 1.81 | 2.70 | -0.90 |
Omega ratioGain probability vs. loss probability | 1.28 | 1.38 | -0.11 |
Calmar ratioReturn relative to maximum drawdown | 1.66 | 2.87 | -1.21 |
Martin ratioReturn relative to average drawdown | 7.12 | 11.69 | -4.58 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PAFGX | GAA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.28 | 2.03 | -0.74 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.51 | 0.58 | -0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.72 | 0.68 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.68 | 0.61 | +0.07 |
Correlation
The correlation between PAFGX and GAA is 0.66, 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
PAFGX vs. GAA - Dividend Comparison
PAFGX's dividend yield for the trailing twelve months is around 6.79%, more than GAA's 3.74% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PAFGX T. Rowe Price Global Allocation Fund | 6.79% | 6.75% | 5.00% | 2.32% | 2.74% | 7.14% | 0.79% | 2.92% | 2.26% | 0.75% | 0.36% | 1.62% |
GAA Cambria Global Asset Allocation ETF | 3.74% | 4.24% | 3.88% | 3.73% | 6.05% | 4.21% | 2.73% | 3.32% | 3.01% | 2.36% | 2.82% | 2.49% |
Drawdowns
PAFGX vs. GAA - Drawdown Comparison
The maximum PAFGX drawdown since its inception was -24.45%, smaller than the maximum GAA drawdown of -26.57%. Use the drawdown chart below to compare losses from any high point for PAFGX and GAA.
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Drawdown Indicators
| PAFGX | GAA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.45% | -26.57% | +2.12% |
Max Drawdown (1Y)Largest decline over 1 year | -7.71% | -7.18% | -0.53% |
Max Drawdown (5Y)Largest decline over 5 years | -22.00% | -18.47% | -3.53% |
Max Drawdown (10Y)Largest decline over 10 years | -24.45% | -26.57% | +2.12% |
Current DrawdownCurrent decline from peak | -5.17% | -3.40% | -1.77% |
Average DrawdownAverage peak-to-trough decline | -3.83% | -3.90% | +0.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.80% | 1.76% | +0.04% |
Volatility
PAFGX vs. GAA - Volatility Comparison
T. Rowe Price Global Allocation Fund (PAFGX) and Cambria Global Asset Allocation ETF (GAA) have volatilities of 3.94% and 3.81%, 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
| PAFGX | GAA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.94% | 3.81% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 6.05% | 7.24% | -1.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.95% | 10.34% | -0.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.42% | 11.27% | -1.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.21% | 11.05% | -0.84% |