PARWX vs. PONAX

Last updated Jul 17, 2026

PARWX (Parnassus Endeavor Fund) and PONAX (PIMCO Income Fund Class A) are both mutual funds - PARWX is a Large Cap Value Equities fund managed by Parnassus, while PONAX is a Multisector Bonds fund actively managed by PIMCO. Over the past 10 years, PARWX returned 14.89%/yr vs 4.14%/yr for PONAX. At a 0.12 correlation, their price movements are largely independent. PARWX charges 0.88%/yr vs 0.94%/yr for PONAX.

Performance

PARWX vs. PONAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Parnassus Endeavor Fund (PARWX) and PIMCO Income Fund Class A (PONAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PARWX achieves a 15.86% return, which is significantly higher than PONAX's 0.78% return. Over the past 10 years, PARWX has outperformed PONAX with an annualized return of 14.89%, while PONAX has yielded a comparatively lower 4.14% annualized return.

PARWX

• 1D: 0.20%
• 1M: 1.23%
• 6M: 11.35%
• YTD: 15.86%
• 1Y: 30.22%
• 3Y*: 18.54%
• 5Y*: 9.87%
• 10Y*: 14.89%

PONAX

• 1D: 0.19%
• 1M: -0.42%
• 6M: 0.50%
• YTD: 0.78%
• 1Y: 6.68%
• 3Y*: 6.97%
• 5Y*: 3.08%
• 10Y*: 4.14%

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

PARWX vs. PONAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PARWX Parnassus Endeavor Fund	15.86%	19.07%	12.03%	13.67%	-13.71%	31.09%	27.42%	33.28%	-13.58%	19.85%
PONAX PIMCO Income Fund Class A	0.78%	10.63%	5.02%	8.96%	-9.34%	2.21%	5.40%	7.65%	0.21%	8.19%

Correlation

The correlation between PARWX and PONAX is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since Apr 2, 2007	0.12

Over the past year, PARWX and PONAX have become more correlated (0.40) than their long-term average of 0.12, meaning their price movements have been converging.

Return for Risk

PARWX vs. PONAX — Risk / Return Rank

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

PARWX

PARWX Risk / Return Rank: 89
PARWX Sharpe Ratio Rank: 92
PARWX Sortino Ratio Rank: 88
PARWX Omega Ratio Rank: 85
PARWX Calmar Ratio Rank: 88
PARWX Martin Ratio Rank: 94

PONAX

PONAX Risk / Return Rank: 53
PONAX Sharpe Ratio Rank: 61
PONAX Sortino Ratio Rank: 64
PONAX Omega Ratio Rank: 64
PONAX Calmar Ratio Rank: 39
PONAX Martin Ratio Rank: 36

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.

PARWX vs. PONAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Parnassus Endeavor Fund (PARWX) and PIMCO Income Fund Class A (PONAX). 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.

	PARWX	PONAX	Difference
Sharpe ratio: Return per unit of total volatility	2.54	1.73	+0.81
Sortino ratio: Return per unit of downside risk	3.60	2.51	+1.09
Omega ratio: Gain probability vs. loss probability	1.45	1.33	+0.12
Calmar ratio: Return relative to maximum drawdown	3.45	1.91	+1.55
Martin ratio: Return relative to average drawdown	16.24	6.23	+10.00

PARWX vs. PONAX - Sharpe Ratio Comparison

The current PARWX Sharpe Ratio is 2.54, which is higher than the PONAX Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of PARWX and PONAX, 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

PARWX vs. PONAX - Drawdown Comparison

The maximum PARWX drawdown since its inception was -47.76%, which is greater than PONAX's maximum drawdown of -13.64%. Use the drawdown chart below to compare losses from any high point for PARWX and PONAX.

Drawdown Indicators

	PARWX	PONAX	Difference
Max Drawdown Largest peak-to-trough decline	-47.76%	-13.64%	-34.12%
Max Drawdown (1Y) Largest decline over 1 year	-8.92%	-3.69%	-5.23%
Max Drawdown (3Y) Largest decline over 3 years	-18.02%	-3.90%	-14.12%
Max Drawdown (5Y) Largest decline over 5 years	-32.27%	-13.64%	-18.63%
Max Drawdown (10Y) Largest decline over 10 years	-37.21%	-13.64%	-23.57%
Current Drawdown Current decline from peak	-1.00%	-1.09%	+0.09%
Average Drawdown Average peak-to-trough decline	-6.85%	-1.79%	-5.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.89%	1.12%	+0.77%

Volatility

PARWX vs. PONAX - Volatility Comparison

Parnassus Endeavor Fund (PARWX) has a higher volatility of 3.13% compared to PIMCO Income Fund Class A (PONAX) at 1.12%. This indicates that PARWX's price experiences larger fluctuations and is considered to be riskier than PONAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PARWX	PONAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.13%	1.12%	+2.01%
Volatility (6M) Calculated over the trailing 6-month period	9.52%	3.47%	+6.05%
Volatility (1Y) Calculated over the trailing 1-year period	12.14%	4.09%	+8.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.73%	4.85%	+13.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.95%	4.22%	+16.73%

PARWX vs. PONAX - Expense Ratio Comparison

PARWX has a 0.88% expense ratio, which is lower than PONAX's 0.94% expense ratio.

Dividends

PARWX vs. PONAX - Dividend Comparison

PARWX's dividend yield for the trailing twelve months is around 10.48%, more than PONAX's 5.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PARWX Parnassus Endeavor Fund	10.48%	12.14%	8.25%	1.76%	2.97%	16.75%	0.70%	0.79%	12.34%	6.32%	3.27%	10.26%
PONAX PIMCO Income Fund Class A	5.39%	5.61%	5.86%	5.86%	4.66%	3.62%	4.48%	5.42%	5.24%	4.97%	5.13%	7.45%

Frequently Asked Questions

Can I hold both PARWX and PONAX in my portfolio?

PARWX and PONAX have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PARWX or PONAX?

PARWX has higher volatility (3.13%) compared to PONAX (1.12%). In terms of maximum drawdown, PARWX dropped -47.76% vs PONAX's -13.64%.

Which has better risk-adjusted returns?

PARWX currently has the higher Sharpe Ratio (2.54 vs 1.73), 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.