PIPAX vs. PISIX
PIPAX (PIMCO StocksPLUS® International Fund (U.S. Dollar-Hedged) Class A) and PISIX (PIMCO StocksPLUS International Fund (U.S. Dollar-Hedged)) are both Foreign Large Cap Equities funds from PIMCO. Over the past 10 years, PIPAX returned 11.62%/yr vs 12.15%/yr for PISIX. With a 1.00 correlation, they move nearly in lockstep. PIPAX charges 1.15%/yr vs 0.76%/yr for PISIX.
Performance
PIPAX vs. PISIX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with PIPAX having a 9.45% return and PISIX slightly higher at 9.70%. Both investments have delivered pretty close results over the past 10 years, with PIPAX having a 11.62% annualized return and PISIX not far ahead at 12.15%.
PIPAX
- 1D
- 0.66%
- 1M
- 4.57%
- YTD
- 9.45%
- 6M
- 4.81%
- 1Y
- 17.95%
- 3Y*
- 16.11%
- 5Y*
- 10.97%
- 10Y*
- 11.62%
PISIX
- 1D
- 0.68%
- 1M
- 4.68%
- YTD
- 9.70%
- 6M
- 5.65%
- 1Y
- 19.16%
- 3Y*
- 16.85%
- 5Y*
- 11.55%
- 10Y*
- 12.15%
PIPAX vs. PISIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PIPAX PIMCO StocksPLUS® International Fund (U.S. Dollar-Hedged) Class A | 9.45% | 16.57% | 14.37% | 21.29% | -9.30% | 18.02% | 3.78% | 25.94% | -10.40% | 18.30% |
PISIX PIMCO StocksPLUS International Fund (U.S. Dollar-Hedged) | 9.70% | 17.68% | 14.87% | 21.70% | -8.86% | 18.37% | 4.29% | 26.40% | -10.00% | 18.81% |
Correlation
The correlation between PIPAX and PISIX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jan 20, 2004 | 1.00 |
The correlation between PIPAX and PISIX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.
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Return for Risk
PIPAX vs. PISIX — Risk / Return Rank
PIPAX
PISIX
PIPAX vs. PISIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO StocksPLUS® International Fund (U.S. Dollar-Hedged) Class A (PIPAX) 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.
| PIPAX | PISIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.28 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.73 | 1.84 | -0.11 |
| Martin ratioReturn relative to average drawdown | 6.00 | 6.55 | -0.56 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PIPAX | PISIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 1.37 | -0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.77 | 0.82 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.80 | 0.84 | -0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.55 | -0.02 |
Drawdowns
PIPAX vs. PISIX - Drawdown Comparison
The maximum PIPAX drawdown since its inception was -57.80%, roughly equal to the maximum PISIX drawdown of -57.47%. Use the drawdown chart below to compare losses from any high point for PIPAX and PISIX.
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Drawdown Indicators
| PIPAX | PISIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.80% | -57.47% | -0.33% |
Max Drawdown (1Y)Largest decline over 1 year | -10.72% | -10.71% | -0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -15.24% | -15.21% | -0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -19.17% | -18.93% | -0.24% |
Max Drawdown (10Y)Largest decline over 10 years | -35.55% | -35.44% | -0.11% |
Current DrawdownCurrent decline from peak | 0.00% | -0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -7.36% | -7.20% | -0.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.08% | 3.00% | +0.08% |
Volatility
PIPAX vs. PISIX - Volatility Comparison
PIMCO StocksPLUS® International Fund (U.S. Dollar-Hedged) Class A (PIPAX) and PIMCO StocksPLUS International Fund (U.S. Dollar-Hedged) (PISIX) have volatilities of 3.68% and 3.75%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PIPAX | PISIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.68% | 3.75% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 13.05% | 12.76% | +0.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.72% | 14.45% | +0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.27% | 14.19% | +0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.66% | 14.61% | +0.05% |
PIPAX vs. PISIX - Expense Ratio Comparison
PIPAX has a 1.15% expense ratio, which is higher than PISIX's 0.76% expense ratio.
Dividends
PIPAX vs. PISIX - Dividend Comparison
PIPAX's dividend yield for the trailing twelve months is around 5.13%, more than PISIX's 4.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PIPAX PIMCO StocksPLUS® International Fund (U.S. Dollar-Hedged) Class A | 5.13% | 5.61% | 12.69% | 10.56% | 10.66% | 7.59% | 1.44% | 11.71% | 8.25% | 7.38% | 0.78% | 8.16% |
PISIX PIMCO StocksPLUS International Fund (U.S. Dollar-Hedged) | 4.69% | 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
With a correlation of 0.99, PIPAX and PISIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
PISIX has higher volatility (3.75%) compared to PIPAX (3.68%). In terms of maximum drawdown, PIPAX dropped -57.80% vs PISIX's -57.47%.
PISIX currently has the higher Sharpe Ratio (1.37 vs 1.26), 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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