PGAIX vs. TIBAX
PGAIX (PIMCO Global Core Asset Allocation Fund) and TIBAX (Thornburg Investment Income Builder Fund) are both Global Allocation funds. Over the past 10 years, PGAIX returned 9.48%/yr vs 12.62%/yr for TIBAX. Their correlation of 0.82 suggests significant overlap in exposure. PGAIX charges 1.00%/yr vs 1.14%/yr for TIBAX.
Performance
PGAIX vs. TIBAX - Performance Comparison
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Returns By Period
In the year-to-date period, PGAIX achieves a 11.48% return, which is significantly lower than TIBAX's 16.67% return. Over the past 10 years, PGAIX has underperformed TIBAX with an annualized return of 9.48%, while TIBAX has yielded a comparatively higher 12.62% annualized return.
PGAIX
- 1D
- -0.05%
- 1M
- 0.25%
- YTD
- 11.48%
- 6M
- 11.21%
- 1Y
- 25.56%
- 3Y*
- 17.93%
- 5Y*
- 8.31%
- 10Y*
- 9.48%
TIBAX
- 1D
- 0.03%
- 1M
- -0.36%
- YTD
- 16.67%
- 6M
- 17.10%
- 1Y
- 35.37%
- 3Y*
- 25.74%
- 5Y*
- 15.94%
- 10Y*
- 12.62%
PGAIX vs. TIBAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PGAIX PIMCO Global Core Asset Allocation Fund | 11.48% | 20.68% | 14.76% | 12.48% | -17.38% | 11.35% | 14.57% | 15.29% | -5.15% | 14.78% |
TIBAX Thornburg Investment Income Builder Fund | 16.67% | 36.62% | 13.23% | 18.01% | -7.95% | 20.08% | -0.67% | 17.72% | -4.54% | 14.83% |
Correlation
The correlation between PGAIX and TIBAX is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Oct 30, 2008 | 0.82 |
The correlation between PGAIX and TIBAX has been stable across timeframes, ranging from 0.72 to 0.82 - a consistent structural relationship.
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Return for Risk
PGAIX vs. TIBAX — Risk / Return Rank
PGAIX
TIBAX
PGAIX vs. TIBAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Global Core Asset Allocation Fund (PGAIX) and Thornburg Investment Income Builder Fund (TIBAX). 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.
| PGAIX | TIBAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.96 | ||
| Sortino ratioReturn per unit of downside risk | -1.37 | ||
| Omega ratioGain probability vs. loss probability | 1.61 | 1.80 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 3.53 | 6.51 | -2.98 |
| Martin ratioReturn relative to average drawdown | 14.97 | 24.84 | -9.88 |
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Drawdowns
PGAIX vs. TIBAX - Drawdown Comparison
The maximum PGAIX drawdown since its inception was -26.75%, smaller than the maximum TIBAX drawdown of -49.12%. Use the drawdown chart below to compare losses from any high point for PGAIX and TIBAX.
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Drawdown Indicators
| PGAIX | TIBAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.75% | -49.12% | +22.37% |
Max Drawdown (1Y)Largest decline over 1 year | -7.29% | -5.43% | -1.86% |
Max Drawdown (3Y)Largest decline over 3 years | -10.71% | -9.20% | -1.51% |
Max Drawdown (5Y)Largest decline over 5 years | -22.49% | -20.94% | -1.55% |
Max Drawdown (10Y)Largest decline over 10 years | -26.75% | -34.85% | +8.10% |
Current DrawdownCurrent decline from peak | -1.40% | -1.06% | -0.34% |
Average DrawdownAverage peak-to-trough decline | -4.66% | -5.98% | +1.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.71% | 1.42% | +0.29% |
Volatility
PGAIX vs. TIBAX - Volatility Comparison
PIMCO Global Core Asset Allocation Fund (PGAIX) has a higher volatility of 3.17% compared to Thornburg Investment Income Builder Fund (TIBAX) at 2.91%. This indicates that PGAIX's price experiences larger fluctuations and is considered to be riskier than TIBAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PGAIX | TIBAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.17% | 2.91% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 7.28% | 7.36% | -0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.42% | 8.78% | -0.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.84% | 11.15% | -1.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.21% | 13.42% | -3.21% |
PGAIX vs. TIBAX - Expense Ratio Comparison
PGAIX has a 1.00% expense ratio, which is lower than TIBAX's 1.14% expense ratio.
Dividends
PGAIX vs. TIBAX - Dividend Comparison
PGAIX's dividend yield for the trailing twelve months is around 7.44%, more than TIBAX's 4.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PGAIX PIMCO Global Core Asset Allocation Fund | 7.44% | 1.78% | 4.27% | 1.54% | 1.07% | 1.10% | 10.94% | 2.49% | 3.12% | 1.67% | 1.66% | 0.00% |
TIBAX Thornburg Investment Income Builder Fund | 4.97% | 5.64% | 5.44% | 4.67% | 5.62% | 5.10% | 4.11% | 4.23% | 4.49% | 4.22% | 3.83% | 4.31% |
Frequently Asked Questions
PGAIX and TIBAX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PGAIX has higher volatility (3.17%) compared to TIBAX (2.91%). In terms of maximum drawdown, PGAIX dropped -26.75% vs TIBAX's -49.12%.
TIBAX currently has the higher Sharpe Ratio (4.03 vs 3.07), 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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