PFN vs. PTY
PFN (PIMCO Income Strategy Fund II) and PTY (PIMCO Corporate & Income Opportunity Fund) are both mutual funds - PFN is a Multisector Bonds fund actively managed by PIMCO, while PTY is a Corporate Bonds fund managed by PIMCO. Over the past 10 years, PFN returned 8.03%/yr vs 8.00%/yr for PTY. Their 0.44 correlation means their historical movements had little consistent relationship. PFN charges 1.86%/yr vs 1.19%/yr for PTY.
Performance
PFN vs. PTY - Performance Comparison
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Returns By Period
In the year-to-date period, PFN achieves a 1.44% return, which is significantly higher than PTY's -2.49% return. Both investments have delivered pretty close results over the past 10 years, with PFN having a 8.03% annualized return and PTY not far behind at 8.00%.
PFN
- 1D
- 0.14%
- 1M
- 0.45%
- 6M
- 1.42%
- YTD
- 1.44%
- 1Y
- 5.96%
- 3Y*
- 11.94%
- 5Y*
- 1.98%
- 10Y*
- 8.03%
- ALL TIME*
- 6.03%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.67M | $4.67M | $3.40M | |
| $12.11M | $12.45M | $12.40M |
PFN vs. PTY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PFN PIMCO Income Strategy Fund II | 1.44% | 13.07% | 15.72% | 15.43% | -17.65% | 5.14% | 3.97% | 21.84% | 0.94% | 20.58% |
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 PFN and PTY is 0.53, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.53 |
Correlation (3Y) Balances recent behavior with more history. | 0.49 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.52 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.50 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2004 | 0.44 |
The correlation between PFN and PTY has been stable across timeframes, ranging from 0.44 to 0.53 - a consistent structural relationship.
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Return for Risk
PFN vs. PTY — Risk / Return Rank
PFN
PTY
PFN vs. PTY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Income Strategy Fund II (PFN) 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.
| PFN | PTY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.12 | ||
| Sortino ratioReturn per unit of downside risk | +1.57 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 0.91 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 0.56 | -0.40 | +0.95 |
| Martin ratioReturn relative to average drawdown | 2.01 | -0.68 | +2.70 |
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Drawdowns
PFN vs. PTY - Drawdown Comparison
The maximum PFN drawdown since its inception was -80.08%, which is greater than PTY's maximum drawdown of -60.86%. Use the drawdown chart below to compare losses from any high point for PFN and PTY.
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Drawdown Indicators
| PFN | PTY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.08% | -60.86% | -19.22% |
Max Drawdown (1Y)Largest decline over 1 year | -10.77% | -15.44% | +4.67% |
Max Drawdown (3Y)Largest decline over 3 years | -14.31% | -15.53% | +1.22% |
Max Drawdown (5Y)Largest decline over 5 years | -33.45% | -41.38% | +7.93% |
Max Drawdown (10Y)Largest decline over 10 years | -45.70% | -46.55% | +0.85% |
Current DrawdownCurrent decline from peak | -0.98% | -11.51% | +10.53% |
Average DrawdownAverage peak-to-trough decline | -11.75% | -8.63% | -3.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.96% | 8.92% | -5.96% |
Volatility
PFN vs. PTY - Volatility Comparison
The current volatility for PIMCO Income Strategy Fund II (PFN) is 1.76%, while PIMCO Corporate & Income Opportunity Fund (PTY) has a volatility of 2.60%. This indicates that PFN experiences smaller price fluctuations and is considered to be less risky than PTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFN | PTY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.76% | 2.60% | -0.84% |
Volatility (6M)Calculated over the trailing 6-month period | 8.86% | 7.88% | +0.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.31% | 11.28% | -0.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.55% | 17.22% | -2.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.18% | 21.18% | -3.00% |
PFN vs. PTY - Expense Ratio Comparison
PFN has a 1.86% expense ratio, which is higher than PTY's 1.19% expense ratio.
Dividends
PFN vs. PTY - Dividend Comparison
PFN's dividend yield for the trailing twelve months is around 12.15%, which matches PTY's 12.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PFN PIMCO Income Strategy Fund II | 12.15% | 11.49% | 11.57% | 11.92% | 12.19% | 9.71% | 9.67% | 9.07% | 10.81% | 9.20% | 10.12% | 11.74% |
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
PFN and PTY have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PTY has higher volatility (2.60%) compared to PFN (1.76%). In terms of maximum drawdown, PFN dropped -80.08% vs PTY's -60.86%.
PFN currently has the higher Sharpe Ratio (0.58 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.
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