PGP vs. HGLB
PGP (PIMCO Global StocksPLUS & Income Fund) and HGLB (Highland Global Allocation Fund) are both Global Allocation funds. Over the past 5 years, PGP returned 5.13%/yr vs 7.90%/yr for HGLB. At a 0.27 correlation, their price movements are largely independent.
Performance
PGP vs. HGLB - Performance Comparison
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Returns By Period
In the year-to-date period, PGP achieves a -2.23% return, which is significantly higher than HGLB's -13.14% return.
PGP
- 1D
- -0.58%
- 1M
- -0.91%
- YTD
- -2.23%
- 6M
- 0.18%
- 1Y
- 16.51%
- 3Y*
- 17.04%
- 5Y*
- 5.13%
- 10Y*
- 1.74%
HGLB
- 1D
- -1.65%
- 1M
- -6.17%
- YTD
- -13.14%
- 6M
- -14.10%
- 1Y
- -4.96%
- 3Y*
- 9.17%
- 5Y*
- 7.90%
- 10Y*
- —
PGP vs. HGLB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PGP PIMCO Global StocksPLUS & Income Fund | -2.23% | 29.92% | 15.48% | 21.33% | -29.19% | 16.38% | -6.98% | -10.15% |
HGLB Highland Global Allocation Fund | -13.14% | 51.74% | -1.52% | -6.15% | 14.53% | 53.22% | -17.98% | -31.46% |
Correlation
The correlation between PGP and HGLB is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 2019 | 0.27 |
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Return for Risk
PGP vs. HGLB — Risk / Return Rank
PGP
HGLB
PGP vs. HGLB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Global StocksPLUS & Income Fund (PGP) and Highland Global Allocation Fund (HGLB). 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.
| PGP | HGLB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.49 | ||
| Sortino ratioReturn per unit of downside risk | +1.93 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 0.97 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.27 | -0.21 | +1.48 |
| Martin ratioReturn relative to average drawdown | 4.50 | -0.41 | +4.91 |
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Drawdowns
PGP vs. HGLB - Drawdown Comparison
The maximum PGP drawdown since its inception was -64.94%, smaller than the maximum HGLB drawdown of -70.40%. Use the drawdown chart below to compare losses from any high point for PGP and HGLB.
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Drawdown Indicators
| PGP | HGLB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.94% | -70.40% | +5.46% |
Max Drawdown (1Y)Largest decline over 1 year | -13.05% | -23.34% | +10.29% |
Max Drawdown (3Y)Largest decline over 3 years | -21.01% | -23.34% | +2.33% |
Max Drawdown (5Y)Largest decline over 5 years | -39.87% | -29.88% | -9.99% |
Max Drawdown (10Y)Largest decline over 10 years | -64.55% | — | — |
Current DrawdownCurrent decline from peak | -6.34% | -22.72% | +16.38% |
Average DrawdownAverage peak-to-trough decline | -15.96% | -18.20% | +2.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.68% | 11.99% | -8.31% |
Volatility
PGP vs. HGLB - Volatility Comparison
The current volatility for PIMCO Global StocksPLUS & Income Fund (PGP) is 4.44%, while Highland Global Allocation Fund (HGLB) has a volatility of 6.02%. This indicates that PGP experiences smaller price fluctuations and is considered to be less risky than HGLB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PGP | HGLB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.44% | 6.02% | -1.58% |
Volatility (6M)Calculated over the trailing 6-month period | 11.44% | 12.95% | -1.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.18% | 21.16% | -7.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.46% | 22.11% | -3.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.39% | 27.62% | -1.23% |
Dividends
PGP vs. HGLB - Dividend Comparison
PGP's dividend yield for the trailing twelve months is around 9.72%, less than HGLB's 13.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HGLB Highland Global Allocation Fund | 13.91% | 11.57% | 14.27% | 12.82% | 10.32% | 9.39% | 15.44% | 11.35% | 0.00% | 0.00% | 0.00% | 0.00% |
PGP PIMCO Global StocksPLUS & Income Fund | 9.72% | 9.07% | 10.64% | 11.04% | 11.95% | 7.65% | 9.49% | 10.13% | 12.53% | 11.44% | 14.86% | 12.14% |
Frequently Asked Questions
PGP and HGLB have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HGLB has higher volatility (6.02%) compared to PGP (4.44%). In terms of maximum drawdown, PGP dropped -64.94% vs HGLB's -70.40%.
PGP currently has the higher Sharpe Ratio (1.26 vs -0.24), 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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