PCBAX vs. FTBFX
Compare and contrast key facts about BlackRock Tactical Opportunities Fund (PCBAX) and Fidelity Total Bond Fund (FTBFX).
PCBAX is managed by BlackRock. It was launched on Dec 28, 1988. FTBFX is managed by Fidelity. It was launched on Oct 15, 2002.
Performance
PCBAX vs. FTBFX - Performance Comparison
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PCBAX vs. FTBFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PCBAX BlackRock Tactical Opportunities Fund | 3.16% | 6.16% | 11.77% | 2.37% | 5.77% | 0.29% | 6.50% | 1.41% | 4.32% | 7.71% |
FTBFX Fidelity Total Bond Fund | -0.49% | 7.50% | 2.50% | 7.25% | -13.58% | -0.44% | 9.34% | 9.89% | -0.66% | 4.19% |
Returns By Period
In the year-to-date period, PCBAX achieves a 3.16% return, which is significantly higher than FTBFX's -0.49% return. Over the past 10 years, PCBAX has outperformed FTBFX with an annualized return of 5.04%, while FTBFX has yielded a comparatively lower 2.58% annualized return.
PCBAX
- 1D
- -0.87%
- 1M
- 1.78%
- YTD
- 3.16%
- 6M
- 1.91%
- 1Y
- 8.91%
- 3Y*
- 8.34%
- 5Y*
- 6.12%
- 10Y*
- 5.04%
FTBFX
- 1D
- 0.42%
- 1M
- -2.35%
- YTD
- -0.49%
- 6M
- 0.46%
- 1Y
- 4.07%
- 3Y*
- 4.43%
- 5Y*
- 0.85%
- 10Y*
- 2.58%
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PCBAX vs. FTBFX - Expense Ratio Comparison
PCBAX has a 1.08% expense ratio, which is higher than FTBFX's 0.45% expense ratio.
Return for Risk
PCBAX vs. FTBFX — Risk / Return Rank
PCBAX
FTBFX
PCBAX vs. FTBFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Tactical Opportunities Fund (PCBAX) and Fidelity Total Bond Fund (FTBFX). 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.
| PCBAX | FTBFX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.29 | 1.10 | +0.20 |
Sortino ratioReturn per unit of downside risk | 1.79 | 1.57 | +0.22 |
Omega ratioGain probability vs. loss probability | 1.27 | 1.20 | +0.07 |
Calmar ratioReturn relative to maximum drawdown | 1.70 | 1.86 | -0.16 |
Martin ratioReturn relative to average drawdown | 5.69 | 5.73 | -0.03 |
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
| PCBAX | FTBFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.29 | 1.10 | +0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.95 | 0.15 | +0.80 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.83 | 0.55 | +0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.93 | -0.36 |
Correlation
The correlation between PCBAX and FTBFX is -0.14. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
PCBAX vs. FTBFX - Dividend Comparison
PCBAX has not paid dividends to shareholders, while FTBFX's dividend yield for the trailing twelve months is around 4.02%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCBAX BlackRock Tactical Opportunities Fund | 0.00% | 0.00% | 0.00% | 11.67% | 3.36% | 0.00% | 2.44% | 3.08% | 9.91% | 0.80% | 1.41% | 4.86% |
FTBFX Fidelity Total Bond Fund | 4.02% | 4.36% | 4.51% | 4.15% | 2.54% | 1.89% | 5.22% | 3.03% | 3.19% | 2.97% | 3.61% | 3.30% |
Drawdowns
PCBAX vs. FTBFX - Drawdown Comparison
The maximum PCBAX drawdown since its inception was -39.55%, which is greater than FTBFX's maximum drawdown of -18.25%. Use the drawdown chart below to compare losses from any high point for PCBAX and FTBFX.
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Drawdown Indicators
| PCBAX | FTBFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.55% | -18.25% | -21.30% |
Max Drawdown (1Y)Largest decline over 1 year | -4.29% | -2.81% | -1.48% |
Max Drawdown (5Y)Largest decline over 5 years | -6.75% | -18.25% | +11.50% |
Max Drawdown (10Y)Largest decline over 10 years | -9.00% | -18.25% | +9.25% |
Current DrawdownCurrent decline from peak | -1.72% | -2.35% | +0.63% |
Average DrawdownAverage peak-to-trough decline | -4.39% | -2.31% | -2.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.36% | 0.91% | +0.45% |
Volatility
PCBAX vs. FTBFX - Volatility Comparison
BlackRock Tactical Opportunities Fund (PCBAX) has a higher volatility of 3.19% compared to Fidelity Total Bond Fund (FTBFX) at 1.48%. This indicates that PCBAX's price experiences larger fluctuations and is considered to be riskier than FTBFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PCBAX | FTBFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.19% | 1.48% | +1.71% |
Volatility (6M)Calculated over the trailing 6-month period | 4.41% | 2.46% | +1.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.77% | 4.30% | +2.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.45% | 5.62% | +0.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.12% | 4.70% | +1.42% |