PAI vs. FKRCX
PAI (Western Asset Investment Grade Income Fund Inc.) and FKRCX (Franklin Gold and Precious Metals Fund) are both mutual funds - PAI is a Corporate Bonds fund actively managed by Franklin Templeton, while FKRCX is a Gold fund managed by Franklin Templeton. Over the past 10 years, PAI returned 2.21%/yr vs 11.52%/yr for FKRCX. Their 0.07 correlation means their historical movements had little consistent relationship.
Performance
PAI vs. FKRCX - Performance Comparison
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Returns By Period
In the year-to-date period, PAI achieves a -2.64% return, which is significantly higher than FKRCX's -10.16% return. Over the past 10 years, PAI has underperformed FKRCX with an annualized return of 2.21%, while FKRCX has yielded a comparatively higher 11.52% annualized return.
PAI
- 1D
- -0.08%
- 1M
- -2.00%
- 6M
- -3.91%
- YTD
- -2.64%
- 1Y
- -3.87%
- 3Y*
- 5.38%
- 5Y*
- -0.88%
- 10Y*
- 2.21%
- ALL TIME*
- 6.46%
FKRCX
- 1D
- 3.29%
- 1M
- -4.25%
- 6M
- -18.81%
- YTD
- -10.16%
- 1Y
- 65.72%
- 3Y*
- 45.65%
- 5Y*
- 19.47%
- 10Y*
- 11.52%
- ALL TIME*
- 6.74%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $159.85K | $149.51K | $197.78K |
PAI vs. FKRCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PAI Western Asset Investment Grade Income Fund Inc. | -2.64% | 5.34% | 9.17% | 9.09% | -22.50% | 1.89% | 6.71% | 23.16% | -12.35% | 15.76% |
FKRCX Franklin Gold and Precious Metals Fund | -10.16% | 196.59% | 17.64% | 2.03% | -23.47% | -4.03% | 44.30% | 51.48% | -18.11% | -0.12% |
Correlation
The correlation between PAI and FKRCX is 0.28, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.28 |
Correlation (3Y) Balances recent behavior with more history. | 0.17 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.18 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.13 |
Correlation (All Time) Calculated using the full available price history since Dec 30, 1987 | 0.07 |
Over the past year, PAI and FKRCX have become more correlated (0.28) than their long-term average of 0.07, meaning their price movements have been converging.
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Return for Risk
PAI vs. FKRCX — Risk / Return Rank
PAI
FKRCX
PAI vs. FKRCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Western Asset Investment Grade Income Fund Inc. (PAI) and Franklin Gold and Precious Metals Fund (FKRCX). 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.
| PAI | FKRCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.86 | ||
| Sortino ratioReturn per unit of downside risk | -2.38 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.25 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.39 | 1.77 | -2.16 |
| Martin ratioReturn relative to average drawdown | -0.81 | 3.96 | -4.77 |
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Drawdowns
PAI vs. FKRCX - Drawdown Comparison
The maximum PAI drawdown since its inception was -39.03%, smaller than the maximum FKRCX drawdown of -78.85%. Use the drawdown chart below to compare losses from any high point for PAI and FKRCX.
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Drawdown Indicators
| PAI | FKRCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.03% | -78.85% | +39.82% |
Max Drawdown (1Y)Largest decline over 1 year | -7.79% | -37.40% | +29.61% |
Max Drawdown (3Y)Largest decline over 3 years | -8.87% | -37.40% | +28.53% |
Max Drawdown (5Y)Largest decline over 5 years | -33.71% | -48.79% | +15.08% |
Max Drawdown (10Y)Largest decline over 10 years | -33.71% | -49.54% | +15.83% |
Current DrawdownCurrent decline from peak | -12.59% | -33.23% | +20.64% |
Average DrawdownAverage peak-to-trough decline | -7.14% | -33.73% | +26.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.79% | 16.69% | -12.90% |
Volatility
PAI vs. FKRCX - Volatility Comparison
The current volatility for Western Asset Investment Grade Income Fund Inc. (PAI) is 1.55%, while Franklin Gold and Precious Metals Fund (FKRCX) has a volatility of 13.21%. This indicates that PAI experiences smaller price fluctuations and is considered to be less risky than FKRCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PAI | FKRCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.55% | 13.21% | -11.66% |
Volatility (6M)Calculated over the trailing 6-month period | 5.51% | 38.56% | -33.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.33% | 45.97% | -38.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.93% | 34.78% | -22.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.39% | 33.22% | -17.83% |
Dividends
PAI vs. FKRCX - Dividend Comparison
PAI's dividend yield for the trailing twelve months is around 5.32%, less than FKRCX's 11.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FKRCX Franklin Gold and Precious Metals Fund | 11.96% | 10.75% | 13.44% | 3.12% | 0.00% | 9.37% | 10.55% | 0.00% | 0.00% | 0.37% | 8.73% | 0.00% |
PAI Western Asset Investment Grade Income Fund Inc. | 5.32% | 5.45% | 4.83% | 4.67% | 4.82% | 3.57% | 3.82% | 4.43% | 5.23% | 4.36% | 4.82% | 5.30% |
Frequently Asked Questions
PAI and FKRCX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FKRCX has higher volatility (13.21%) compared to PAI (1.55%). In terms of maximum drawdown, PAI dropped -39.03% vs FKRCX's -78.85%.
FKRCX currently has the higher Sharpe Ratio (1.45 vs -0.42), 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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