PASAX vs. PBAIX
PASAX (PIMCO All Asset Fund Class A) and PBAIX (BlackRock Tactical Opportunities Fund Institutional Class) are both Tactical Allocation funds. Both are actively managed. Over the past 10 years, PASAX returned 6.21%/yr vs 6.10%/yr for PBAIX. Their 0.37 correlation means their historical movements had little consistent relationship. PASAX charges 2.24%/yr vs 0.77%/yr for PBAIX.
Performance
PASAX vs. PBAIX - Performance Comparison
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Returns By Period
In the year-to-date period, PASAX achieves a 9.33% return, which is significantly lower than PBAIX's 10.31% return. Both investments have delivered pretty close results over the past 10 years, with PASAX having a 6.21% annualized return and PBAIX not far behind at 6.10%.
PASAX
- 1D
- 0.00%
- 1M
- 0.58%
- 6M
- 5.90%
- YTD
- 9.33%
- 1Y
- 17.27%
- 3Y*
- 8.89%
- 5Y*
- 4.34%
- 10Y*
- 6.21%
- ALL TIME*
- 5.63%
PBAIX
- 1D
- 0.93%
- 1M
- 0.98%
- 6M
- 9.55%
- YTD
- 10.31%
- 1Y
- 11.44%
- 3Y*
- 9.38%
- 5Y*
- 7.78%
- 10Y*
- 6.10%
- ALL TIME*
- 6.50%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PASAX vs. PBAIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PASAX PIMCO All Asset Fund Class A | 9.33% | 12.85% | 3.66% | 7.66% | -11.90% | 15.14% | 7.93% | 11.72% | -5.47% | 13.50% |
PBAIX BlackRock Tactical Opportunities Fund Institutional Class | 10.31% | 6.46% | 12.08% | 2.64% | 6.14% | 0.50% | 6.91% | 1.65% | 4.68% | 8.05% |
Correlation
The correlation between PASAX and PBAIX is -0.14, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.14 |
Correlation (3Y) Balances recent behavior with more history. | 0.06 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.04 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.11 |
Correlation (All Time) Calculated using the full available price history since Apr 30, 2003 | 0.37 |
The correlation between PASAX and PBAIX shifts across timeframes, from -0.14 (1 year) to 0.37 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PASAX vs. PBAIX — Risk / Return Rank
PASAX
PBAIX
PASAX vs. PBAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO All Asset Fund Class A (PASAX) and BlackRock Tactical Opportunities Fund Institutional Class (PBAIX). 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 | PBAIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.82 | ||
| Sortino ratioReturn per unit of downside risk | +1.03 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.39 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 3.49 | 3.92 | -0.43 |
| Martin ratioReturn relative to average drawdown | 13.83 | 9.50 | +4.34 |
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Drawdowns
PASAX vs. PBAIX - Drawdown Comparison
The maximum PASAX drawdown since its inception was -27.81%, smaller than the maximum PBAIX drawdown of -39.26%. Use the drawdown chart below to compare losses from any high point for PASAX and PBAIX.
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Drawdown Indicators
| PASAX | PBAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.81% | -39.26% | +11.45% |
Max Drawdown (1Y)Largest decline over 1 year | -4.88% | -2.99% | -1.89% |
Max Drawdown (3Y)Largest decline over 3 years | -7.65% | -6.79% | -0.86% |
Max Drawdown (5Y)Largest decline over 5 years | -20.00% | -6.79% | -13.21% |
Max Drawdown (10Y)Largest decline over 10 years | -22.70% | -8.94% | -13.76% |
Current DrawdownCurrent decline from peak | -0.16% | -0.06% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -4.06% | -4.28% | +0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.23% | 1.23% | 0.00% |
Volatility
PASAX vs. PBAIX - Volatility Comparison
The current volatility for PIMCO All Asset Fund Class A (PASAX) is 1.12%, while BlackRock Tactical Opportunities Fund Institutional Class (PBAIX) has a volatility of 1.66%. This indicates that PASAX experiences smaller price fluctuations and is considered to be less risky than PBAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PASAX | PBAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 1.66% | -0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 4.74% | 4.68% | +0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.97% | 5.74% | +0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.71% | 6.44% | +1.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.70% | 6.10% | +1.60% |
PASAX vs. PBAIX - Expense Ratio Comparison
PASAX has a 2.24% expense ratio, which is higher than PBAIX's 0.77% expense ratio.
Dividends
PASAX vs. PBAIX - Dividend Comparison
PASAX's dividend yield for the trailing twelve months is around 7.67%, while PBAIX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PASAX PIMCO All Asset Fund Class A | 7.67% | 6.80% | 5.47% | 2.81% | 7.19% | 11.47% | 3.18% | 2.90% | 5.02% | 4.07% | 3.12% | 3.36% |
PBAIX BlackRock Tactical Opportunities Fund Institutional Class | 0.00% | 0.00% | 0.00% | 11.84% | 3.52% | 0.00% | 2.71% | 3.39% | 10.17% | 0.86% | 1.74% | 5.15% |
Frequently Asked Questions
PASAX and PBAIX have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PBAIX has higher volatility (1.66%) compared to PASAX (1.12%). In terms of maximum drawdown, PASAX dropped -27.81% vs PBAIX's -39.26%.
PASAX currently has the higher Sharpe Ratio (2.86 vs 2.04), 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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