PAXS vs. PTY
PAXS (PIMCO Access Income Fund) and PTY (PIMCO Corporate & Income Opportunity Fund) are both mutual funds - PAXS is a Multisector Bonds fund actively managed by PIMCO, while PTY is a Corporate Bonds fund managed by PIMCO. Over the past 3 years, PAXS returned 12.96%/yr vs 5.67%/yr for PTY. At a 0.47 correlation, their price movements are largely independent.
Performance
PAXS vs. PTY - Performance Comparison
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Returns By Period
In the year-to-date period, PAXS achieves a 1.95% return, which is significantly higher than PTY's -1.50% return.
PAXS
- 1D
- -0.14%
- 1M
- 3.15%
- 6M
- -2.01%
- YTD
- 1.95%
- 1Y
- 9.20%
- 3Y*
- 12.96%
- 5Y*
- —
- 10Y*
- —
PTY
- 1D
- 0.25%
- 1M
- 0.91%
- 6M
- -3.58%
- YTD
- -1.50%
- 1Y
- -3.88%
- 3Y*
- 5.67%
- 5Y*
- -0.13%
- 10Y*
- 8.40%
PAXS vs. PTY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PAXS PIMCO Access Income Fund | 1.95% | 12.58% | 19.51% | 9.30% | -16.66% |
PTY PIMCO Corporate & Income Opportunity Fund | -1.50% | -0.51% | 19.87% | 22.56% | -15.08% |
Correlation
The correlation between PAXS and PTY is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2022 | 0.47 |
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Return for Risk
PAXS vs. PTY — Risk / Return Rank
PAXS
PTY
PAXS vs. PTY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Access Income Fund (PAXS) and PIMCO Corporate & Income Opportunity Fund (PTY). 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 | PTY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.11 | ||
| Sortino ratioReturn per unit of downside risk | +1.46 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 0.94 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 0.76 | -0.25 | +1.02 |
| Martin ratioReturn relative to average drawdown | 1.96 | -0.46 | +2.41 |
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Drawdowns
PAXS vs. PTY - Drawdown Comparison
The maximum PAXS drawdown since its inception was -22.28%, smaller than the maximum PTY drawdown of -60.86%. Use the drawdown chart below to compare losses from any high point for PAXS and PTY.
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Drawdown Indicators
| PAXS | PTY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.28% | -60.86% | +38.58% |
Max Drawdown (1Y)Largest decline over 1 year | -12.10% | -15.44% | +3.34% |
Max Drawdown (3Y)Largest decline over 3 years | -13.40% | -16.04% | +2.64% |
Max Drawdown (5Y)Largest decline over 5 years | — | -41.38% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -46.55% | — |
Current DrawdownCurrent decline from peak | -3.54% | -10.60% | +7.06% |
Average DrawdownAverage peak-to-trough decline | -7.50% | -8.62% | +1.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.71% | 8.54% | -3.83% |
Volatility
PAXS vs. PTY - Volatility Comparison
The current volatility for PIMCO Access Income Fund (PAXS) is 2.52%, while PIMCO Corporate & Income Opportunity Fund (PTY) has a volatility of 2.67%. This indicates that PAXS experiences smaller price fluctuations and is considered to be less risky than PTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PAXS | PTY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.52% | 2.67% | -0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 9.62% | 7.60% | +2.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.28% | 11.06% | +1.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.29% | 17.25% | +0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.29% | 21.18% | -3.89% |
Dividends
PAXS vs. PTY - Dividend Comparison
PAXS's dividend yield for the trailing twelve months is around 12.33%, more than PTY's 12.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PAXS PIMCO Access Income Fund | 12.33% | 11.72% | 11.76% | 12.54% | 13.30% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PTY PIMCO Corporate & Income Opportunity Fund | 12.00% | 11.05% | 9.92% | 10.77% | 13.12% | 9.16% | 8.74% | 8.37% | 10.63% | 9.48% | 12.09% | 11.92% |
Frequently Asked Questions
PAXS and PTY have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PTY has higher volatility (2.67%) compared to PAXS (2.52%). In terms of maximum drawdown, PAXS dropped -22.28% vs PTY's -60.86%.
PAXS currently has the higher Sharpe Ratio (0.75 vs -0.35), 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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