PASAX vs. COTZX

Last updated Jun 25, 2026

PASAX (PIMCO All Asset Fund Class A) and COTZX (Columbia Thermostat Fund) are both Tactical Allocation funds. Over the past 10 years, PASAX returned 6.60%/yr vs 7.40%/yr for COTZX. A 0.59 correlation means they provide meaningful diversification when combined. PASAX charges 2.24%/yr vs 0.24%/yr for COTZX.

Performance

PASAX vs. COTZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO All Asset Fund Class A (PASAX) and Columbia Thermostat Fund (COTZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PASAX achieves a 8.25% return, which is significantly higher than COTZX's 2.36% return. Over the past 10 years, PASAX has underperformed COTZX with an annualized return of 6.60%, while COTZX has yielded a comparatively higher 7.40% annualized return.

PASAX

• 1D: -0.17%
• 1M: 0.07%
• YTD: 8.25%
• 6M: 8.03%
• 1Y: 16.74%
• 3Y*: 9.66%
• 5Y*: 4.19%
• 10Y*: 6.60%

COTZX

• 1D: -0.39%
• 1M: -0.01%
• YTD: 2.36%
• 6M: 1.96%
• 1Y: 9.48%
• 3Y*: 10.23%
• 5Y*: 4.45%
• 10Y*: 7.40%

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

PASAX vs. COTZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PASAX PIMCO All Asset Fund Class A	8.25%	12.85%	3.66%	7.66%	-11.90%	15.14%	7.93%	11.72%	-5.47%	13.50%
COTZX Columbia Thermostat Fund	2.36%	15.02%	7.98%	11.66%	-12.92%	6.44%	29.61%	15.15%	-1.17%	3.33%

Correlation

The correlation between PASAX and COTZX is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.65
Correlation (All Time) Calculated using the full available price history since Apr 30, 2003	0.59

The correlation between PASAX and COTZX shifts across timeframes, from 0.59 (all time) to 0.74 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

PASAX vs. COTZX — Risk / Return Rank

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

PASAX

PASAX Risk / Return Rank: 89
PASAX Sharpe Ratio Rank: 94
PASAX Sortino Ratio Rank: 92
PASAX Omega Ratio Rank: 87
PASAX Calmar Ratio Rank: 84
PASAX Martin Ratio Rank: 85

COTZX

COTZX Risk / Return Rank: 56
COTZX Sharpe Ratio Rank: 52
COTZX Sortino Ratio Rank: 57
COTZX Omega Ratio Rank: 56
COTZX Calmar Ratio Rank: 51
COTZX Martin Ratio Rank: 66

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.

PASAX vs. COTZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO All Asset Fund Class A (PASAX) and Columbia Thermostat Fund (COTZX). 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.

	PASAX	COTZX	Difference
Sharpe ratio: Return per unit of total volatility	2.91	1.92	+0.99
Sortino ratio: Return per unit of downside risk	4.15	2.83	+1.33
Omega ratio: Gain probability vs. loss probability	1.55	1.37	+0.18
Calmar ratio: Return relative to maximum drawdown	3.62	2.56	+1.05
Martin ratio: Return relative to average drawdown	14.30	11.75	+2.55

PASAX vs. COTZX - Sharpe Ratio Comparison

The current PASAX Sharpe Ratio is 2.91, which is higher than the COTZX Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of PASAX and COTZX, 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

PASAX vs. COTZX - Drawdown Comparison

The maximum PASAX drawdown since its inception was -27.81%, smaller than the maximum COTZX drawdown of -47.48%. Use the drawdown chart below to compare losses from any high point for PASAX and COTZX.

Drawdown Indicators

	PASAX	COTZX	Difference
Max Drawdown Largest peak-to-trough decline	-27.81%	-47.48%	+19.67%
Max Drawdown (1Y) Largest decline over 1 year	-4.88%	-4.02%	-0.86%
Max Drawdown (3Y) Largest decline over 3 years	-7.65%	-6.93%	-0.72%
Max Drawdown (5Y) Largest decline over 5 years	-20.00%	-17.80%	-2.20%
Max Drawdown (10Y) Largest decline over 10 years	-22.70%	-17.80%	-4.90%
Current Drawdown Current decline from peak	-1.07%	-1.09%	+0.02%
Average Drawdown Average peak-to-trough decline	-4.08%	-3.46%	-0.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.23%	0.87%	+0.36%

Volatility

PASAX vs. COTZX - Volatility Comparison

The current volatility for PIMCO All Asset Fund Class A (PASAX) is 1.94%, while Columbia Thermostat Fund (COTZX) has a volatility of 2.23%. This indicates that PASAX experiences smaller price fluctuations and is considered to be less risky than COTZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PASAX	COTZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.94%	2.23%	-0.29%
Volatility (6M) Calculated over the trailing 6-month period	4.77%	4.39%	+0.38%
Volatility (1Y) Calculated over the trailing 1-year period	6.05%	5.38%	+0.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.74%	7.39%	+0.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.72%	7.41%	+0.31%

PASAX vs. COTZX - Expense Ratio Comparison

PASAX has a 2.24% expense ratio, which is higher than COTZX's 0.24% expense ratio.

Dividends

PASAX vs. COTZX - Dividend Comparison

PASAX's dividend yield for the trailing twelve months is around 7.74%, more than COTZX's 3.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COTZX Columbia Thermostat Fund	3.29%	3.37%	3.55%	2.74%	3.28%	14.82%	6.92%	5.57%	4.45%	3.13%	2.66%	4.26%
PASAX PIMCO All Asset Fund Class A	7.74%	6.80%	5.47%	2.81%	7.19%	11.47%	3.18%	2.90%	5.02%	4.07%	3.12%	3.36%

Frequently Asked Questions

Can I hold both PASAX and COTZX in my portfolio?

PASAX and COTZX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PASAX or COTZX?

COTZX has higher volatility (2.23%) compared to PASAX (1.94%). In terms of maximum drawdown, PASAX dropped -27.81% vs COTZX's -47.48%.

Which has better risk-adjusted returns?

PASAX currently has the higher Sharpe Ratio (2.91 vs 1.92), 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.