PHSPX vs. PISIX

Last updated Aug 4, 2026

PHSPX (PIMCO High Yield Spectrum Fund) and PISIX (PIMCO StocksPLUS International Fund (U.S. Dollar-Hedged)) are both mutual funds - PHSPX is a High Yield Bonds fund managed by PIMCO, while PISIX is a Foreign Large Cap Equities fund managed by PIMCO. Over the past 10 years, PHSPX returned 5.38%/yr vs 12.32%/yr for PISIX. Their 0.48 correlation means their historical movements had little consistent relationship. PHSPX charges 0.71%/yr vs 0.76%/yr for PISIX.

Performance

PHSPX vs. PISIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO High Yield Spectrum Fund (PHSPX) and PIMCO StocksPLUS International Fund (U.S. Dollar-Hedged) (PISIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PHSPX achieves a 0.38% return, which is significantly lower than PISIX's 13.06% return. Over the past 10 years, PHSPX has underperformed PISIX with an annualized return of 5.38%, while PISIX has yielded a comparatively higher 12.32% annualized return.

PHSPX

• 1D: 0.00%
• 1M: -0.87%
• 6M: 0.07%
• YTD: 0.38%
• 1Y: 4.19%
• 3Y*: 8.09%
• 5Y*: 3.96%
• 10Y*: 5.38%
• ALL TIME*: 5.98%

PISIX

• 1D: 0.19%
• 1M: -0.39%
• 6M: 8.99%
• YTD: 13.06%
• 1Y: 21.22%
• 3Y*: 16.78%
• 5Y*: 12.07%
• 10Y*: 12.32%
• ALL TIME*: 10.21%

*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)
PHSPX PIMCO High Yield Spectrum Fund	$0.00	$0.00	$0.00
PISIX PIMCO StocksPLUS International Fund (U.S. Dollar-Hedged)	$0.00	$0.00	$0.00

PHSPX vs. PISIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PHSPX PIMCO High Yield Spectrum Fund	0.38%	8.93%	8.75%	12.91%	-11.03%	5.14%	6.19%	14.75%	-2.70%	7.96%
PISIX PIMCO StocksPLUS International Fund (U.S. Dollar-Hedged)	13.06%	17.68%	14.87%	21.70%	-8.86%	18.37%	4.29%	26.40%	-10.00%	18.81%

Correlation

The correlation between PHSPX and PISIX is 0.50, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.50
Correlation (3Y) Balances recent behavior with more history.	0.47
Correlation (5Y) Shows whether the relationship held over a longer period.	0.52
Correlation (10Y) Provides a long-term view across more market conditions.	0.51
Correlation (All Time) Calculated using the full available price history since Sep 16, 2010	0.48

The correlation between PHSPX and PISIX has been stable across timeframes, ranging from 0.47 to 0.52 - a consistent structural relationship.

Return for Risk

PHSPX vs. PISIX — Risk / Return Rank

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

PHSPX

PHSPX Risk / Return Rank: 39
PHSPX Sharpe Ratio Rank: 35
PHSPX Sortino Ratio Rank: 42
PHSPX Omega Ratio Rank: 40
PHSPX Calmar Ratio Rank: 31
PHSPX Martin Ratio Rank: 46

PISIX

PISIX Risk / Return Rank: 44
PISIX Sharpe Ratio Rank: 43
PISIX Sortino Ratio Rank: 38
PISIX Omega Ratio Rank: 55
PISIX Calmar Ratio Rank: 43
PISIX Martin Ratio Rank: 43

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.

PHSPX vs. PISIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO High Yield Spectrum Fund (PHSPX) and PIMCO StocksPLUS International Fund (U.S. Dollar-Hedged) (PISIX). 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.

	PHSPX	PISIX	Difference
Sharpe ratio: Return per unit of total volatility	1.21	1.35	-0.14
Sortino ratio: Return per unit of downside risk	1.96	1.84	+0.13
Omega ratio: Gain probability vs. loss probability	1.25	1.28	-0.03
Calmar ratio: Return relative to maximum drawdown	1.48	1.86	-0.38
Martin ratio: Return relative to average drawdown	6.96	6.59	+0.37

PHSPX vs. PISIX - Sharpe Ratio Comparison

The current PHSPX Sharpe Ratio is 1.21, which is comparable to the PISIX Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of PHSPX and PISIX, 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

PHSPX vs. PISIX - Drawdown Comparison

The maximum PHSPX drawdown since its inception was -20.38%, smaller than the maximum PISIX drawdown of -57.47%. Use the drawdown chart below to compare losses from any high point for PHSPX and PISIX.

Drawdown Indicators

	PHSPX	PISIX	Difference
Max Drawdown Largest peak-to-trough decline	-20.38%	-57.47%	+37.09%
Max Drawdown (1Y) Largest decline over 1 year	-2.70%	-10.71%	+8.01%
Max Drawdown (3Y) Largest decline over 3 years	-3.50%	-15.21%	+11.71%
Max Drawdown (5Y) Largest decline over 5 years	-15.42%	-18.93%	+3.51%
Max Drawdown (10Y) Largest decline over 10 years	-20.38%	-35.44%	+15.06%
Current Drawdown Current decline from peak	-0.98%	-0.96%	-0.02%
Average Drawdown Average peak-to-trough decline	-2.13%	-7.15%	+5.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.57%	3.02%	-2.45%

Volatility

PHSPX vs. PISIX - Volatility Comparison

The current volatility for PIMCO High Yield Spectrum Fund (PHSPX) is 0.73%, while PIMCO StocksPLUS International Fund (U.S. Dollar-Hedged) (PISIX) has a volatility of 3.44%. This indicates that PHSPX experiences smaller price fluctuations and is considered to be less risky than PISIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PHSPX	PISIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.73%	3.44%	-2.71%
Volatility (6M) Calculated over the trailing 6-month period	2.72%	11.67%	-8.95%
Volatility (1Y) Calculated over the trailing 1-year period	3.38%	14.78%	-11.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.87%	14.25%	-9.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.33%	14.38%	-9.05%

PHSPX vs. PISIX - Expense Ratio Comparison

PHSPX has a 0.71% expense ratio, which is lower than PISIX's 0.76% expense ratio.

Dividends

PHSPX vs. PISIX - Dividend Comparison

PHSPX's dividend yield for the trailing twelve months is around 5.94%, more than PISIX's 4.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PHSPX PIMCO High Yield Spectrum Fund	5.94%	6.31%	6.33%	4.80%	6.25%	5.32%	4.88%	5.48%	6.13%	5.54%	6.38%	7.17%
PISIX PIMCO StocksPLUS International Fund (U.S. Dollar-Hedged)	4.90%	5.14%	11.81%	10.04%	10.11%	7.31%	1.42%	11.47%	7.99%	7.36%	1.02%	8.16%

Frequently Asked Questions

Can I hold both PHSPX and PISIX in my portfolio?

PHSPX and PISIX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PHSPX or PISIX?

PISIX has higher volatility (3.44%) compared to PHSPX (0.73%). In terms of maximum drawdown, PHSPX dropped -20.38% vs PISIX's -57.47%.

Which has better risk-adjusted returns?

PISIX currently has the higher Sharpe Ratio (1.35 vs 1.21), 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.