PBXIX vs. LOCFX

Last updated Apr 1, 2026

Compare and contrast key facts about Rational/Pier 88 Convertible Securities Fund (PBXIX) and Lord Abbett Convertible Fund Class F3 (LOCFX).

PBXIX is managed by Rational Funds. It was launched on Dec 5, 2019. LOCFX is a passively managed fund by Lord Abbett that tracks the performance of the ICE BofA All Convertible Index. It was launched on Jun 30, 2003.

Performance

PBXIX vs. LOCFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rational/Pier 88 Convertible Securities Fund (PBXIX) and Lord Abbett Convertible Fund Class F3 (LOCFX). The values are adjusted to include any dividend payments, if applicable.

PBXIX vs. LOCFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
PBXIX Rational/Pier 88 Convertible Securities Fund	-2.92%	2.12%	8.23%	3.28%	-10.82%	10.23%	17.09%	1.70%
LOCFX Lord Abbett Convertible Fund Class F3	1.75%	22.43%	14.00%	7.30%	-23.12%	1.40%	64.47%	1.83%

Returns By Period

In the year-to-date period, PBXIX achieves a -2.92% return, which is significantly lower than LOCFX's 1.75% return.

PBXIX

• 1D: -0.29%
• 1M: -4.31%
• YTD: -2.92%
• 6M: -2.93%
• 1Y: 1.01%
• 3Y*: 3.97%
• 5Y*: 1.30%
• 10Y*: —

LOCFX

• 1D: -1.63%
• 1M: -5.41%
• YTD: 1.75%
• 6M: 4.96%
• 1Y: 26.30%
• 3Y*: 14.26%
• 5Y*: 3.19%
• 10Y*: —

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

PBXIX vs. LOCFX - Expense Ratio Comparison

PBXIX has a 0.99% expense ratio, which is higher than LOCFX's 0.82% expense ratio.

PBXIX

Rational/Pier 88 Convertible Securities Fund

LOCFX

Lord Abbett Convertible Fund Class F3

Return for Risk

PBXIX vs. LOCFX — Risk / Return Rank

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

PBXIX

PBXIX Risk / Return Rank: 7
PBXIX Sharpe Ratio Rank: 7
PBXIX Sortino Ratio Rank: 6
PBXIX Omega Ratio Rank: 6
PBXIX Calmar Ratio Rank: 8
PBXIX Martin Ratio Rank: 8

LOCFX

LOCFX Risk / Return Rank: 90
LOCFX Sharpe Ratio Rank: 89
LOCFX Sortino Ratio Rank: 88
LOCFX Omega Ratio Rank: 82
LOCFX Calmar Ratio Rank: 96
LOCFX Martin Ratio Rank: 94

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.

PBXIX vs. LOCFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rational/Pier 88 Convertible Securities Fund (PBXIX) and Lord Abbett Convertible Fund Class F3 (LOCFX). 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.

	PBXIX	LOCFX	Difference
Sharpe ratio Return per unit of total volatility	0.12	1.82	-1.70
Sortino ratio Return per unit of downside risk	0.22	2.46	-2.24
Omega ratio Gain probability vs. loss probability	1.03	1.33	-0.30
Calmar ratio Return relative to maximum drawdown	0.09	3.51	-3.42
Martin ratio Return relative to average drawdown	0.32	12.60	-12.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PBXIX vs. LOCFX - Sharpe Ratio Comparison

The current PBXIX Sharpe Ratio is 0.12, which is lower than the LOCFX Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of PBXIX and LOCFX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PBXIX	LOCFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.12	1.82	-1.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	0.25	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.78	-0.41

Correlation

The correlation between PBXIX and LOCFX is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

PBXIX vs. LOCFX - Dividend Comparison

PBXIX's dividend yield for the trailing twelve months is around 6.05%, more than LOCFX's 1.52% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
PBXIX Rational/Pier 88 Convertible Securities Fund	6.05%	3.48%	2.14%	2.22%	2.25%	7.56%	1.77%	0.00%	0.00%	0.00%
LOCFX Lord Abbett Convertible Fund Class F3	1.52%	1.86%	2.29%	2.06%	2.72%	18.36%	16.20%	8.75%	5.02%	2.08%

Drawdowns

PBXIX vs. LOCFX - Drawdown Comparison

The maximum PBXIX drawdown since its inception was -24.03%, smaller than the maximum LOCFX drawdown of -33.29%. Use the drawdown chart below to compare losses from any high point for PBXIX and LOCFX.

Drawdown Indicators

	PBXIX	LOCFX	Difference
Max Drawdown Largest peak-to-trough decline	-24.03%	-33.29%	+9.26%
Max Drawdown (1Y) Largest decline over 1 year	-5.74%	-7.02%	+1.28%
Max Drawdown (5Y) Largest decline over 5 years	-15.57%	-30.60%	+15.03%
Current Drawdown Current decline from peak	-5.16%	-7.02%	+1.86%
Average Drawdown Average peak-to-trough decline	-5.65%	-11.41%	+5.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.54%	1.95%	-0.41%

Volatility

PBXIX vs. LOCFX - Volatility Comparison

The current volatility for Rational/Pier 88 Convertible Securities Fund (PBXIX) is 2.16%, while Lord Abbett Convertible Fund Class F3 (LOCFX) has a volatility of 6.00%. This indicates that PBXIX experiences smaller price fluctuations and is considered to be less risky than LOCFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PBXIX	LOCFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.16%	6.00%	-3.84%
Volatility (6M) Calculated over the trailing 6-month period	4.96%	12.03%	-7.07%
Volatility (1Y) Calculated over the trailing 1-year period	8.50%	14.38%	-5.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.63%	12.83%	-4.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.57%	13.93%	-2.36%