PFUIX vs. PONAX
PFUIX (PIMCO International Bond Fund (Unhedged)) and PONAX (PIMCO Income Fund Class A) are both mutual funds - PFUIX is a Global Bonds fund managed by PIMCO, while PONAX is a Multisector Bonds fund actively managed by PIMCO. Over the past 10 years, PFUIX returned 0.45%/yr vs 4.32%/yr for PONAX. At a 0.42 correlation, their price movements are largely independent. PFUIX charges 0.50%/yr vs 0.94%/yr for PONAX.
Performance
PFUIX vs. PONAX - Performance Comparison
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Returns By Period
In the year-to-date period, PFUIX achieves a -2.26% return, which is significantly lower than PONAX's 0.64% return. Over the past 10 years, PFUIX has underperformed PONAX with an annualized return of 0.45%, while PONAX has yielded a comparatively higher 4.32% annualized return.
PFUIX
- 1D
- -0.26%
- 1M
- -0.33%
- YTD
- -2.26%
- 6M
- -2.06%
- 1Y
- -1.08%
- 3Y*
- 4.11%
- 5Y*
- -2.20%
- 10Y*
- 0.45%
PONAX
- 1D
- 0.09%
- 1M
- 0.97%
- YTD
- 0.64%
- 6M
- 1.02%
- 1Y
- 6.55%
- 3Y*
- 7.20%
- 5Y*
- 3.10%
- 10Y*
- 4.32%
PFUIX vs. PONAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PFUIX PIMCO International Bond Fund (Unhedged) | -2.26% | 10.90% | -1.64% | 6.42% | -19.10% | -6.08% | 12.32% | 7.09% | -3.64% | 10.82% |
PONAX PIMCO Income Fund Class A | 0.64% | 10.63% | 5.02% | 8.96% | -9.34% | 2.21% | 5.40% | 7.65% | 0.21% | 8.19% |
Correlation
The correlation between PFUIX and PONAX is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2007 | 0.42 |
Over the past year, PFUIX and PONAX have become more correlated (0.75) than their long-term average of 0.42, meaning their price movements have been converging.
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Return for Risk
PFUIX vs. PONAX — Risk / Return Rank
PFUIX
PONAX
PFUIX vs. PONAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO International Bond Fund (Unhedged) (PFUIX) 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.
| PFUIX | PONAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.78 | ||
| Sortino ratioReturn per unit of downside risk | -2.58 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.32 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | 1.90 | -1.99 |
| Martin ratioReturn relative to average drawdown | -0.23 | 6.26 | -6.50 |
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Drawdowns
PFUIX vs. PONAX - Drawdown Comparison
The maximum PFUIX drawdown since its inception was -31.90%, which is greater than PONAX's maximum drawdown of -13.64%. Use the drawdown chart below to compare losses from any high point for PFUIX and PONAX.
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Drawdown Indicators
| PFUIX | PONAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.90% | -13.64% | -18.26% |
Max Drawdown (1Y)Largest decline over 1 year | -6.40% | -3.69% | -2.71% |
Max Drawdown (3Y)Largest decline over 3 years | -7.69% | -3.90% | -3.79% |
Max Drawdown (5Y)Largest decline over 5 years | -29.65% | -13.64% | -16.01% |
Max Drawdown (10Y)Largest decline over 10 years | -31.90% | -13.64% | -18.26% |
Current DrawdownCurrent decline from peak | -14.43% | -1.22% | -13.21% |
Average DrawdownAverage peak-to-trough decline | -7.99% | -1.79% | -6.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.47% | 1.11% | +1.36% |
Volatility
PFUIX vs. PONAX - Volatility Comparison
PIMCO International Bond Fund (Unhedged) (PFUIX) has a higher volatility of 1.96% compared to PIMCO Income Fund Class A (PONAX) at 1.32%. This indicates that PFUIX'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
| PFUIX | PONAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.96% | 1.32% | +0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 5.91% | 3.38% | +2.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.35% | 4.14% | +3.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.69% | 4.83% | +2.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.36% | 4.22% | +3.14% |
PFUIX vs. PONAX - Expense Ratio Comparison
PFUIX has a 0.50% expense ratio, which is lower than PONAX's 0.94% expense ratio.
Dividends
PFUIX vs. PONAX - Dividend Comparison
PFUIX's dividend yield for the trailing twelve months is around 4.09%, less than PONAX's 5.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PFUIX PIMCO International Bond Fund (Unhedged) | 4.09% | 3.98% | 4.10% | 2.98% | 2.83% | 5.07% | 1.57% | 2.28% | 4.39% | 1.41% | 1.98% | 1.94% |
PONAX PIMCO Income Fund Class A | 5.44% | 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
PFUIX and PONAX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFUIX has higher volatility (1.96%) compared to PONAX (1.32%). In terms of maximum drawdown, PFUIX dropped -31.90% vs PONAX's -13.64%.
PONAX currently has the higher Sharpe Ratio (1.70 vs -0.08), 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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