PAXS vs. BLW
PAXS (PIMCO Access Income Fund) is Multisector Bonds fund actively managed by PIMCO, while BLW (BlackRock Limited Duration Income Trust) is a stock. Over the past 3 years, PAXS returned 11.71%/yr vs 8.85%/yr for BLW. At a 0.42 correlation, their price movements are largely independent.
Performance
PAXS vs. BLW - Performance Comparison
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Returns By Period
In the year-to-date period, PAXS achieves a -1.23% return, which is significantly higher than BLW's -5.76% return.
PAXS
- 1D
- 0.78%
- 1M
- 1.86%
- YTD
- -1.23%
- 6M
- -2.32%
- 1Y
- 5.29%
- 3Y*
- 11.71%
- 5Y*
- —
- 10Y*
- —
BLW
- 1D
- 0.24%
- 1M
- -0.37%
- YTD
- -5.76%
- 6M
- -5.90%
- 1Y
- -3.53%
- 3Y*
- 8.85%
- 5Y*
- 2.68%
- 10Y*
- 6.58%
PAXS vs. BLW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PAXS PIMCO Access Income Fund | -1.23% | 12.58% | 19.51% | 9.30% | -16.66% |
BLW BlackRock Limited Duration Income Trust | -5.76% | 7.17% | 11.06% | 17.29% | -6.86% |
Correlation
The correlation between PAXS and BLW is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2022 | 0.42 |
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Return for Risk
PAXS vs. BLW — Risk / Return Rank
PAXS
BLW
PAXS vs. BLW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Access Income Fund (PAXS) and BlackRock Limited Duration Income Trust (BLW). 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.
| PAXS | BLW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.88 | ||
| Sortino ratioReturn per unit of downside risk | +1.21 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 0.92 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.44 | -0.32 | +0.76 |
| Martin ratioReturn relative to average drawdown | 1.15 | -0.89 | +2.04 |
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Drawdowns
PAXS vs. BLW - Drawdown Comparison
The maximum PAXS drawdown since its inception was -22.28%, smaller than the maximum BLW drawdown of -44.13%. Use the drawdown chart below to compare losses from any high point for PAXS and BLW.
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Drawdown Indicators
| PAXS | BLW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.28% | -44.13% | +21.85% |
Max Drawdown (1Y)Largest decline over 1 year | -12.10% | -11.19% | -0.91% |
Max Drawdown (3Y)Largest decline over 3 years | -13.40% | -11.19% | -2.21% |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.30% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.85% | — |
Current DrawdownCurrent decline from peak | -6.55% | -7.77% | +1.22% |
Average DrawdownAverage peak-to-trough decline | -7.55% | -6.04% | -1.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.61% | 3.99% | +0.62% |
Volatility
PAXS vs. BLW - Volatility Comparison
PIMCO Access Income Fund (PAXS) has a higher volatility of 3.26% compared to BlackRock Limited Duration Income Trust (BLW) at 2.00%. This indicates that PAXS's price experiences larger fluctuations and is considered to be riskier than BLW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PAXS | BLW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.26% | 2.00% | +1.26% |
Volatility (6M)Calculated over the trailing 6-month period | 9.80% | 7.04% | +2.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.19% | 8.02% | +4.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.38% | 12.32% | +5.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.38% | 14.59% | +2.79% |
Dividends
PAXS vs. BLW - Dividend Comparison
PAXS's dividend yield for the trailing twelve months is around 12.60%, more than BLW's 11.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BLW BlackRock Limited Duration Income Trust | 11.05% | 9.89% | 9.39% | 8.63% | 8.26% | 6.99% | 7.39% | 6.27% | 7.14% | 6.24% | 9.68% | 8.26% |
PAXS PIMCO Access Income Fund | 12.60% | 11.72% | 11.76% | 12.54% | 13.30% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PAXS and BLW have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PAXS has higher volatility (3.26%) compared to BLW (2.00%). In terms of maximum drawdown, PAXS dropped -22.28% vs BLW's -44.13%.
PAXS currently has the higher Sharpe Ratio (0.44 vs -0.44), 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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