PHYQX vs. PAAIX

Last updated Apr 2, 2026

Compare and contrast key facts about PGIM High Yield Fund Class R6 (PHYQX) and PIMCO All Asset Fund (PAAIX).

PHYQX is managed by PGIM. It was launched on Oct 31, 2011. PAAIX is managed by PIMCO. It was launched on Nov 5, 2002.

Performance

PHYQX vs. PAAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM High Yield Fund Class R6 (PHYQX) and PIMCO All Asset Fund (PAAIX). The values are adjusted to include any dividend payments, if applicable.

PHYQX vs. PAAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PHYQX PGIM High Yield Fund Class R6	-0.77%	9.18%	8.55%	12.34%	-12.22%	5.99%	5.79%	16.29%	-1.18%	7.74%
PAAIX PIMCO All Asset Fund	3.43%	13.20%	4.12%	8.19%	-11.52%	15.61%	8.38%	12.21%	-4.97%	13.99%

Returns By Period

In the year-to-date period, PHYQX achieves a -0.77% return, which is significantly lower than PAAIX's 3.43% return. Over the past 10 years, PHYQX has underperformed PAAIX with an annualized return of 5.88%, while PAAIX has yielded a comparatively higher 6.75% annualized return.

PHYQX

• 1D: 0.63%
• 1M: -1.65%
• YTD: -0.77%
• 6M: 0.27%
• 1Y: 6.48%
• 3Y*: 8.63%
• 5Y*: 3.93%
• 10Y*: 5.88%

PAAIX

• 1D: 0.51%
• 1M: -3.66%
• YTD: 3.43%
• 6M: 6.16%
• 1Y: 14.43%
• 3Y*: 8.30%
• 5Y*: 4.77%
• 10Y*: 6.75%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PHYQX vs. PAAIX - Expense Ratio Comparison

PHYQX has a 0.38% expense ratio, which is lower than PAAIX's 1.40% expense ratio.

PAAIX

PIMCO All Asset Fund

PHYQX

PGIM High Yield Fund Class R6

Return for Risk

PHYQX vs. PAAIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PHYQX

PHYQX Risk / Return Rank: 89
PHYQX Sharpe Ratio Rank: 88
PHYQX Sortino Ratio Rank: 91
PHYQX Omega Ratio Rank: 91
PHYQX Calmar Ratio Rank: 89
PHYQX Martin Ratio Rank: 88

PAAIX

PAAIX Risk / Return Rank: 90
PAAIX Sharpe Ratio Rank: 93
PAAIX Sortino Ratio Rank: 92
PAAIX Omega Ratio Rank: 90
PAAIX Calmar Ratio Rank: 88
PAAIX Martin Ratio Rank: 89

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PHYQX vs. PAAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM High Yield Fund Class R6 (PHYQX) and PIMCO All Asset Fund (PAAIX). 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.

	PHYQX	PAAIX	Difference
Sharpe ratio Return per unit of total volatility	1.79	2.13	-0.34
Sortino ratio Return per unit of downside risk	2.67	2.76	-0.09
Omega ratio Gain probability vs. loss probability	1.42	1.41	+0.01
Calmar ratio Return relative to maximum drawdown	2.43	2.40	+0.03
Martin ratio Return relative to average drawdown	9.84	10.23	-0.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PHYQX vs. PAAIX - Sharpe Ratio Comparison

The current PHYQX Sharpe Ratio is 1.79, which is comparable to the PAAIX Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of PHYQX and PAAIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PHYQX	PAAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.79	2.13	-0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	0.62	+0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.08	0.87	+0.21
Sharpe Ratio (All Time) Calculated using the full available price history	1.12	0.92	+0.19

Correlation

The correlation between PHYQX and PAAIX is 0.56, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

PHYQX vs. PAAIX - Dividend Comparison

PHYQX's dividend yield for the trailing twelve months is around 6.58%, less than PAAIX's 7.54% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PHYQX PGIM High Yield Fund Class R6	6.58%	7.07%	7.53%	7.09%	6.29%	6.23%	6.56%	6.32%	6.64%	6.38%	4.88%	7.05%
PAAIX PIMCO All Asset Fund	7.54%	7.12%	5.92%	3.20%	7.68%	11.90%	3.56%	3.33%	5.50%	4.48%	3.60%	3.93%

Drawdowns

PHYQX vs. PAAIX - Drawdown Comparison

The maximum PHYQX drawdown since its inception was -21.12%, smaller than the maximum PAAIX drawdown of -27.59%. Use the drawdown chart below to compare losses from any high point for PHYQX and PAAIX.

Drawdown Indicators

	PHYQX	PAAIX	Difference
Max Drawdown Largest peak-to-trough decline	-21.12%	-27.59%	+6.47%
Max Drawdown (1Y) Largest decline over 1 year	-2.94%	-6.23%	+3.29%
Max Drawdown (5Y) Largest decline over 5 years	-16.05%	-19.83%	+3.78%
Max Drawdown (10Y) Largest decline over 10 years	-21.12%	-22.64%	+1.52%
Current Drawdown Current decline from peak	-1.86%	-4.05%	+2.19%
Average Drawdown Average peak-to-trough decline	-2.25%	-3.79%	+1.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.72%	1.46%	-0.74%

Volatility

PHYQX vs. PAAIX - Volatility Comparison

The current volatility for PGIM High Yield Fund Class R6 (PHYQX) is 1.41%, while PIMCO All Asset Fund (PAAIX) has a volatility of 2.50%. This indicates that PHYQX experiences smaller price fluctuations and is considered to be less risky than PAAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PHYQX	PAAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.41%	2.50%	-1.09%
Volatility (6M) Calculated over the trailing 6-month period	2.46%	4.27%	-1.81%
Volatility (1Y) Calculated over the trailing 1-year period	3.78%	6.98%	-3.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.05%	7.79%	-2.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.47%	7.80%	-2.33%