PCLIX vs. PTY

Last updated Aug 4, 2026

PCLIX (PIMCO CommoditiesPLUS Strategy Fund) and PTY (PIMCO Corporate & Income Opportunity Fund) are both mutual funds - PCLIX is a Commodities fund managed by PIMCO, while PTY is a Corporate Bonds fund managed by PIMCO. Over the past 10 years, PCLIX returned 12.84%/yr vs 8.00%/yr for PTY. Their 0.14 correlation means their historical movements had little consistent relationship. PCLIX charges 0.98%/yr vs 1.19%/yr for PTY.

Performance

PCLIX vs. PTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO CommoditiesPLUS Strategy Fund (PCLIX) and PIMCO Corporate & Income Opportunity Fund (PTY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PCLIX achieves a 34.47% return, which is significantly higher than PTY's -2.49% return. Over the past 10 years, PCLIX has outperformed PTY with an annualized return of 12.84%, while PTY has yielded a comparatively lower 8.00% annualized return.

PCLIX

• 1D: 0.12%
• 1M: 9.99%
• 6M: 30.10%
• YTD: 34.47%
• 1Y: 39.18%
• 3Y*: 13.98%
• 5Y*: 15.45%
• 10Y*: 12.84%
• ALL TIME*: 5.77%

PTY

• 1D: 0.43%
• 1M: -1.68%
• 6M: -4.12%
• YTD: -2.49%
• 1Y: -6.08%
• 3Y*: 3.46%
• 5Y*: -1.33%
• 10Y*: 8.00%
• ALL TIME*: 10.78%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PCLIX PIMCO CommoditiesPLUS Strategy Fund	$0.00	$0.00	$0.00
PTY PIMCO Corporate & Income Opportunity Fund	$12.11M	$12.45M	$12.40M

PCLIX vs. PTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PCLIX PIMCO CommoditiesPLUS Strategy Fund	34.47%	5.76%	8.53%	0.69%	23.32%	43.83%	-9.18%	19.37%	-12.02%	10.86%
PTY PIMCO Corporate & Income Opportunity Fund	-2.49%	-0.51%	19.87%	22.56%	-18.71%	0.40%	3.24%	35.36%	2.49%	26.63%

Correlation

The correlation between PCLIX and PTY is -0.21, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.21
Correlation (3Y) Balances recent behavior with more history.	-0.07
Correlation (5Y) Shows whether the relationship held over a longer period.	0.03
Correlation (10Y) Provides a long-term view across more market conditions.	0.11
Correlation (All Time) Calculated using the full available price history since Jun 1, 2010	0.14

The correlation between PCLIX and PTY shifts across timeframes, from -0.21 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PCLIX vs. PTY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PCLIX

PCLIX Risk / Return Rank: 70
PCLIX Sharpe Ratio Rank: 78
PCLIX Sortino Ratio Rank: 71
PCLIX Omega Ratio Rank: 71
PCLIX Calmar Ratio Rank: 72
PCLIX Martin Ratio Rank: 59

PTY

PTY Risk / Return Rank: 1
PTY Sharpe Ratio Rank: 1
PTY Sortino Ratio Rank: 1
PTY Omega Ratio Rank: 1
PTY Calmar Ratio Rank: 1
PTY Martin Ratio Rank: 2

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PCLIX vs. PTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO CommoditiesPLUS Strategy Fund (PCLIX) and PIMCO Corporate & Income Opportunity Fund (PTY). 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.

	PCLIX	PTY	Difference
Sharpe ratio: Return per unit of total volatility	1.89	-0.54	+2.43
Sortino ratio: Return per unit of downside risk	2.50	-0.67	+3.16
Omega ratio: Gain probability vs. loss probability	1.32	0.91	+0.42
Calmar ratio: Return relative to maximum drawdown	2.45	-0.40	+2.84
Martin ratio: Return relative to average drawdown	8.24	-0.68	+8.93

PCLIX vs. PTY - Sharpe Ratio Comparison

The current PCLIX Sharpe Ratio is 1.89, which is higher than the PTY Sharpe Ratio of -0.54. The chart below compares the historical Sharpe Ratios of PCLIX and PTY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PCLIX vs. PTY - Drawdown Comparison

The maximum PCLIX drawdown since its inception was -66.60%, which is greater than PTY's maximum drawdown of -60.86%. Use the drawdown chart below to compare losses from any high point for PCLIX and PTY.

Drawdown Indicators

	PCLIX	PTY	Difference
Max Drawdown Largest peak-to-trough decline	-66.60%	-60.86%	-5.74%
Max Drawdown (1Y) Largest decline over 1 year	-15.39%	-15.44%	+0.05%
Max Drawdown (3Y) Largest decline over 3 years	-15.39%	-15.53%	+0.14%
Max Drawdown (5Y) Largest decline over 5 years	-21.59%	-41.38%	+19.79%
Max Drawdown (10Y) Largest decline over 10 years	-51.78%	-46.55%	-5.23%
Current Drawdown Current decline from peak	-6.33%	-11.51%	+5.18%
Average Drawdown Average peak-to-trough decline	-24.00%	-8.63%	-15.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.61%	8.92%	-4.31%

Volatility

PCLIX vs. PTY - Volatility Comparison

PIMCO CommoditiesPLUS Strategy Fund (PCLIX) has a higher volatility of 5.97% compared to PIMCO Corporate & Income Opportunity Fund (PTY) at 2.60%. This indicates that PCLIX's price experiences larger fluctuations and is considered to be riskier than PTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PCLIX	PTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.97%	2.60%	+3.37%
Volatility (6M) Calculated over the trailing 6-month period	17.86%	7.88%	+9.98%
Volatility (1Y) Calculated over the trailing 1-year period	19.99%	11.28%	+8.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.47%	17.22%	+2.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.51%	21.18%	+19.33%

PCLIX vs. PTY - Expense Ratio Comparison

PCLIX has a 0.98% expense ratio, which is lower than PTY's 1.19% expense ratio.

Dividends

PCLIX vs. PTY - Dividend Comparison

PCLIX's dividend yield for the trailing twelve months is around 10.36%, less than PTY's 12.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PCLIX PIMCO CommoditiesPLUS Strategy Fund	10.36%	2.45%	7.50%	5.06%	42.60%	73.41%	0.77%	2.46%	18.58%	12.63%	0.16%	2.22%
PTY PIMCO Corporate & Income Opportunity Fund	12.12%	11.05%	9.92%	10.77%	13.12%	9.16%	8.74%	8.37%	10.63%	9.48%	12.09%	11.92%

Frequently Asked Questions

Can I hold both PCLIX and PTY in my portfolio?

PCLIX and PTY have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PCLIX or PTY?

PCLIX has higher volatility (5.97%) compared to PTY (2.60%). In terms of maximum drawdown, PCLIX dropped -66.60% vs PTY's -60.86%.

Which has better risk-adjusted returns?

PCLIX currently has the higher Sharpe Ratio (1.89 vs -0.54), 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.