PBAIX vs. WFSPX
PBAIX (BlackRock Tactical Opportunities Fund Institutional Class) and WFSPX (iShares S&P 500 Index Fund) are both mutual funds - PBAIX is a Tactical Allocation fund actively managed by BlackRock, while WFSPX is a S&P 500 fund tracking the S&P 500 Index. PBAIX is actively managed, while WFSPX is passively managed. Over the past 10 years, PBAIX returned 6.10%/yr vs 15.54%/yr for WFSPX. A 0.69 correlation means they provide meaningful diversification when combined. PBAIX charges 0.77%/yr vs 0.03%/yr for WFSPX.
Performance
PBAIX vs. WFSPX - Performance Comparison
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Returns By Period
In the year-to-date period, PBAIX achieves a 9.80% return, which is significantly lower than WFSPX's 11.69% return. Over the past 10 years, PBAIX has underperformed WFSPX with an annualized return of 6.10%, while WFSPX has yielded a comparatively higher 15.54% annualized return.
PBAIX
- 1D
- -0.40%
- 1M
- 0.93%
- YTD
- 9.80%
- 6M
- 10.64%
- 1Y
- 12.87%
- 3Y*
- 10.20%
- 5Y*
- 7.19%
- 10Y*
- 6.10%
WFSPX
- 1D
- 0.13%
- 1M
- 5.80%
- YTD
- 11.69%
- 6M
- 11.72%
- 1Y
- 28.93%
- 3Y*
- 22.71%
- 5Y*
- 14.24%
- 10Y*
- 15.54%
PBAIX vs. WFSPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PBAIX BlackRock Tactical Opportunities Fund Institutional Class | 9.80% | 6.46% | 12.08% | 2.64% | 6.14% | 0.50% | 6.91% | 1.65% | 4.68% | 8.05% |
WFSPX iShares S&P 500 Index Fund | 11.69% | 17.83% | 24.94% | 26.25% | -18.14% | 28.63% | 18.43% | 31.45% | -4.83% | 21.27% |
Correlation
The correlation between PBAIX and WFSPX is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Jul 6, 1993 | 0.69 |
Over the past year, the correlation between PBAIX and WFSPX has dropped to 0.03 - well below their long-term average of 0.69, suggesting their price drivers have been diverging.
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Return for Risk
PBAIX vs. WFSPX — Risk / Return Rank
PBAIX
WFSPX
PBAIX vs. WFSPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Tactical Opportunities Fund Institutional Class (PBAIX) and iShares S&P 500 Index Fund (WFSPX). 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.
| PBAIX | WFSPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.46 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.41 | 3.35 | +1.06 |
| Martin ratioReturn relative to average drawdown | 10.85 | 15.65 | -4.81 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PBAIX | WFSPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.30 | 2.52 | -0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.12 | 0.85 | +0.27 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.00 | 0.87 | +0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.13 | +0.45 |
Drawdowns
PBAIX vs. WFSPX - Drawdown Comparison
The maximum PBAIX drawdown since its inception was -39.26%, smaller than the maximum WFSPX drawdown of -58.21%. Use the drawdown chart below to compare losses from any high point for PBAIX and WFSPX.
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Drawdown Indicators
| PBAIX | WFSPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.26% | -58.21% | +18.95% |
Max Drawdown (1Y)Largest decline over 1 year | -2.99% | -8.90% | +5.91% |
Max Drawdown (3Y)Largest decline over 3 years | -6.79% | -18.74% | +11.95% |
Max Drawdown (5Y)Largest decline over 5 years | -6.79% | -24.51% | +17.72% |
Max Drawdown (10Y)Largest decline over 10 years | -8.94% | -33.74% | +24.80% |
Current DrawdownCurrent decline from peak | -0.46% | 0.00% | -0.46% |
Average DrawdownAverage peak-to-trough decline | -4.30% | -12.77% | +8.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 1.90% | -0.69% |
Volatility
PBAIX vs. WFSPX - Volatility Comparison
The current volatility for BlackRock Tactical Opportunities Fund Institutional Class (PBAIX) is 1.71%, while iShares S&P 500 Index Fund (WFSPX) has a volatility of 2.82%. This indicates that PBAIX experiences smaller price fluctuations and is considered to be less risky than WFSPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PBAIX | WFSPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.71% | 2.82% | -1.11% |
Volatility (6M)Calculated over the trailing 6-month period | 4.79% | 8.97% | -4.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.75% | 11.85% | -6.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.44% | 16.88% | -10.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.13% | 18.02% | -11.89% |
PBAIX vs. WFSPX - Expense Ratio Comparison
PBAIX has a 0.77% expense ratio, which is higher than WFSPX's 0.03% expense ratio.
Dividends
PBAIX vs. WFSPX - Dividend Comparison
PBAIX has not paid dividends to shareholders, while WFSPX's dividend yield for the trailing twelve months is around 1.56%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
WFSPX iShares S&P 500 Index Fund | 1.56% | 1.72% | 1.41% | 1.50% | 2.02% | 1.82% | 1.66% | 1.99% | 2.00% | 1.62% | 2.37% | 2.49% |
Frequently Asked Questions
PBAIX and WFSPX have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WFSPX has higher volatility (2.82%) compared to PBAIX (1.71%). In terms of maximum drawdown, PBAIX dropped -39.26% vs WFSPX's -58.21%.
WFSPX currently has the higher Sharpe Ratio (2.52 vs 2.30), 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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