PCBAX vs. RMDFX
PCBAX (BlackRock Tactical Opportunities Fund) and RMDFX (Aspiriant Defensive Allocation Fund) are both Multistrategy funds. Over the past 10 years, PCBAX returned 5.79%/yr vs 5.26%/yr for RMDFX. Their 0.22 correlation means their historical movements had little consistent relationship. PCBAX charges 1.08%/yr vs 0.18%/yr for RMDFX.
Performance
PCBAX vs. RMDFX - Performance Comparison
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Returns By Period
In the year-to-date period, PCBAX achieves a 10.12% return, which is significantly higher than RMDFX's 7.66% return. Over the past 10 years, PCBAX has outperformed RMDFX with an annualized return of 5.79%, while RMDFX has yielded a comparatively lower 5.26% annualized return.
PCBAX
- 1D
- 0.95%
- 1M
- 0.95%
- 6M
- 9.41%
- YTD
- 10.12%
- 1Y
- 11.12%
- 3Y*
- 9.06%
- 5Y*
- 7.47%
- 10Y*
- 5.79%
- ALL TIME*
- 6.30%
RMDFX
- 1D
- 0.55%
- 1M
- 1.67%
- 6M
- 3.81%
- YTD
- 7.66%
- 1Y
- 18.23%
- 3Y*
- 10.21%
- 5Y*
- 5.69%
- 10Y*
- 5.26%
- ALL TIME*
- 5.12%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PCBAX vs. RMDFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PCBAX BlackRock Tactical Opportunities Fund | 10.12% | 6.16% | 11.77% | 2.37% | 5.77% | 0.29% | 6.50% | 1.41% | 4.32% | 7.71% |
RMDFX Aspiriant Defensive Allocation Fund | 7.66% | 18.85% | 1.45% | 8.01% | -6.84% | 4.20% | 5.10% | 11.50% | -4.89% | 9.41% |
Correlation
The correlation between PCBAX and RMDFX is -0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.01 |
Correlation (3Y) Balances recent behavior with more history. | 0.20 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.15 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.19 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.22 |
The correlation between PCBAX and RMDFX shifts across timeframes, from -0.01 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PCBAX vs. RMDFX — Risk / Return Rank
PCBAX
RMDFX
PCBAX vs. RMDFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Tactical Opportunities Fund (PCBAX) and Aspiriant Defensive Allocation Fund (RMDFX). 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.
| PCBAX | RMDFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.83 | ||
| Sortino ratioReturn per unit of downside risk | -2.27 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.80 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | 3.75 | 4.40 | -0.65 |
| Martin ratioReturn relative to average drawdown | 8.93 | 16.24 | -7.32 |
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Drawdowns
PCBAX vs. RMDFX - Drawdown Comparison
The maximum PCBAX drawdown since its inception was -39.55%, which is greater than RMDFX's maximum drawdown of -15.96%. Use the drawdown chart below to compare losses from any high point for PCBAX and RMDFX.
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Drawdown Indicators
| PCBAX | RMDFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.55% | -15.96% | -23.59% |
Max Drawdown (1Y)Largest decline over 1 year | -3.04% | -4.19% | +1.15% |
Max Drawdown (3Y)Largest decline over 3 years | -6.75% | -5.79% | -0.96% |
Max Drawdown (5Y)Largest decline over 5 years | -6.75% | -14.63% | +7.88% |
Max Drawdown (10Y)Largest decline over 10 years | -9.00% | -15.96% | +6.96% |
Current DrawdownCurrent decline from peak | -0.06% | 0.00% | -0.06% |
Average DrawdownAverage peak-to-trough decline | -4.35% | -3.30% | -1.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.27% | 1.13% | +0.14% |
Volatility
PCBAX vs. RMDFX - Volatility Comparison
BlackRock Tactical Opportunities Fund (PCBAX) has a higher volatility of 1.63% compared to Aspiriant Defensive Allocation Fund (RMDFX) at 1.18%. This indicates that PCBAX's price experiences larger fluctuations and is considered to be riskier than RMDFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PCBAX | RMDFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.63% | 1.18% | +0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 4.73% | 4.10% | +0.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.78% | 4.86% | +0.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.47% | 6.34% | +0.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.10% | 6.22% | -0.12% |
PCBAX vs. RMDFX - Expense Ratio Comparison
PCBAX has a 1.08% expense ratio, which is higher than RMDFX's 0.18% expense ratio.
Dividends
PCBAX vs. RMDFX - Dividend Comparison
PCBAX has not paid dividends to shareholders, while RMDFX's dividend yield for the trailing twelve months is around 4.30%.
| Position | 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% |
RMDFX Aspiriant Defensive Allocation Fund | 4.30% | 4.63% | 0.00% | 3.69% | 0.78% | 5.37% | 2.28% | 3.78% | 4.11% | 2.16% | 1.16% | 0.00% |
Frequently Asked Questions
PCBAX and RMDFX have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PCBAX has higher volatility (1.63%) compared to RMDFX (1.18%). In terms of maximum drawdown, PCBAX dropped -39.55% vs RMDFX's -15.96%.
RMDFX currently has the higher Sharpe Ratio (3.80 vs 1.97), 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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