PCFAX vs. PONAX
PCFAX (PIMCO RAE PLUS Small Fund) and PONAX (PIMCO Income Fund Class A) are both mutual funds - PCFAX is a Small Cap Value Equities fund managed by PIMCO, while PONAX is a Multisector Bonds fund actively managed by PIMCO. Over the past 10 years, PCFAX returned 12.95%/yr vs 4.02%/yr for PONAX. Their 0.30 correlation means their historical movements had little consistent relationship. PCFAX charges 1.21%/yr vs 0.94%/yr for PONAX.
Performance
PCFAX vs. PONAX - Performance Comparison
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Returns By Period
In the year-to-date period, PCFAX achieves a 18.55% return, which is significantly higher than PONAX's -0.25% return. Over the past 10 years, PCFAX has outperformed PONAX with an annualized return of 12.95%, while PONAX has yielded a comparatively lower 4.02% annualized return.
PCFAX
- 1D
- -0.61%
- 1M
- -0.71%
- 6M
- 13.17%
- YTD
- 18.55%
- 1Y
- 35.72%
- 3Y*
- 17.87%
- 5Y*
- 10.48%
- 10Y*
- 12.95%
- ALL TIME*
- 10.56%
PONAX
- 1D
- -0.28%
- 1M
- -1.47%
- 6M
- -0.72%
- YTD
- -0.25%
- 1Y
- 3.92%
- 3Y*
- 6.53%
- 5Y*
- 2.79%
- 10Y*
- 4.02%
- ALL TIME*
- 6.15%
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 |
PCFAX vs. PONAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PCFAX PIMCO RAE PLUS Small Fund | 18.55% | 6.44% | 20.44% | 17.64% | -12.75% | 38.96% | 9.25% | 21.17% | -12.42% | 12.52% |
PONAX PIMCO Income Fund Class A | -0.25% | 10.63% | 5.02% | 8.96% | -9.34% | 2.21% | 5.40% | 7.65% | 0.21% | 8.19% |
Correlation
The correlation between PCFAX and PONAX is 0.46, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.46 |
Correlation (3Y) Balances recent behavior with more history. | 0.34 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.35 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.28 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2014 | 0.30 |
The correlation between PCFAX and PONAX shifts across timeframes, from 0.28 (10 years) to 0.46 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PCFAX vs. PONAX — Risk / Return Rank
PCFAX
PONAX
PCFAX vs. PONAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO RAE PLUS Small Fund (PCFAX) and PIMCO Income Fund Class A (PONAX). 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.
| PCFAX | PONAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.80 | ||
| Sortino ratioReturn per unit of downside risk | +1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.21 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.81 | 1.25 | +2.56 |
| Martin ratioReturn relative to average drawdown | 12.53 | 3.87 | +8.66 |
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Drawdowns
PCFAX vs. PONAX - Drawdown Comparison
The maximum PCFAX drawdown since its inception was -52.29%, which is greater than PONAX's maximum drawdown of -13.64%. Use the drawdown chart below to compare losses from any high point for PCFAX and PONAX.
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Drawdown Indicators
| PCFAX | PONAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.29% | -13.64% | -38.65% |
Max Drawdown (1Y)Largest decline over 1 year | -8.94% | -3.69% | -5.25% |
Max Drawdown (3Y)Largest decline over 3 years | -28.18% | -3.69% | -24.49% |
Max Drawdown (5Y)Largest decline over 5 years | -28.91% | -13.64% | -15.27% |
Max Drawdown (10Y)Largest decline over 10 years | -52.29% | -13.64% | -38.65% |
Current DrawdownCurrent decline from peak | -2.40% | -2.09% | -0.31% |
Average DrawdownAverage peak-to-trough decline | -9.01% | -1.79% | -7.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.71% | 1.19% | +1.52% |
Volatility
PCFAX vs. PONAX - Volatility Comparison
PIMCO RAE PLUS Small Fund (PCFAX) has a higher volatility of 3.90% compared to PIMCO Income Fund Class A (PONAX) at 1.17%. This indicates that PCFAX's price experiences larger fluctuations and is considered to be riskier than PONAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PCFAX | PONAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.90% | 1.17% | +2.73% |
Volatility (6M)Calculated over the trailing 6-month period | 12.48% | 3.53% | +8.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.65% | 4.11% | +13.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.84% | 4.86% | +17.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.82% | 4.22% | +20.60% |
PCFAX vs. PONAX - Expense Ratio Comparison
PCFAX has a 1.21% expense ratio, which is higher than PONAX's 0.94% expense ratio.
Dividends
PCFAX vs. PONAX - Dividend Comparison
PCFAX's dividend yield for the trailing twelve months is around 4.14%, less than PONAX's 4.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCFAX PIMCO RAE PLUS Small Fund | 4.14% | 2.26% | 6.30% | 1.99% | 13.66% | 235.35% | 18.04% | 2.29% | 12.48% | 8.98% | 0.00% | 26.20% |
PONAX PIMCO Income Fund Class A | 4.96% | 5.61% | 5.86% | 5.86% | 4.66% | 3.62% | 4.48% | 5.42% | 5.24% | 4.97% | 5.13% | 7.45% |
Frequently Asked Questions
PCFAX and PONAX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PCFAX has higher volatility (3.90%) compared to PONAX (1.17%). In terms of maximum drawdown, PCFAX dropped -52.29% vs PONAX's -13.64%.
PCFAX currently has the higher Sharpe Ratio (1.93 vs 1.14), 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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