PMJAX vs. PMJIX
PMJAX (PIMCO RAE US Small Fund Class A) and PMJIX (PIMCO RAE US Small Fund) are both Small Cap Value Equities funds from PIMCO. Over the past 10 years, PMJAX returned 12.88%/yr vs 13.38%/yr for PMJIX. Their 1.00 correlation means they have historically moved very closely together. PMJAX charges 0.90%/yr vs 0.50%/yr for PMJIX.
Performance
PMJAX vs. PMJIX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with PMJAX having a 20.20% return and PMJIX slightly higher at 20.55%. Both investments have delivered pretty close results over the past 10 years, with PMJAX having a 12.88% annualized return and PMJIX not far ahead at 13.38%.
PMJAX
- 1D
- 0.15%
- 1M
- 0.45%
- 6M
- 16.52%
- YTD
- 20.20%
- 1Y
- 35.79%
- 3Y*
- 17.44%
- 5Y*
- 12.58%
- 10Y*
- 12.88%
- ALL TIME*
- 13.40%
PMJIX
- 1D
- 0.14%
- 1M
- 0.50%
- 6M
- 16.74%
- YTD
- 20.55%
- 1Y
- 36.15%
- 3Y*
- 18.03%
- 5Y*
- 13.12%
- 10Y*
- 13.38%
- ALL TIME*
- 11.87%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PMJAX vs. PMJIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PMJAX PIMCO RAE US Small Fund Class A | 20.20% | 4.89% | 20.53% | 19.76% | -5.07% | 38.48% | 6.52% | 19.76% | -12.02% | 8.76% |
PMJIX PIMCO RAE US Small Fund | 20.55% | 5.11% | 22.05% | 19.77% | -4.62% | 39.15% | 6.95% | 20.22% | -11.69% | 9.22% |
Correlation
The correlation between PMJAX and PMJIX is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 1.00 |
Correlation (3Y) Balances recent behavior with more history. | 1.00 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 1.00 |
Correlation (10Y) Provides a long-term view across more market conditions. | 1.00 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 1.00 |
The correlation between PMJAX and PMJIX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
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Return for Risk
PMJAX vs. PMJIX — Risk / Return Rank
PMJAX
PMJIX
PMJAX vs. PMJIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO RAE US Small Fund Class A (PMJAX) and PIMCO RAE US Small Fund (PMJIX). 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.
| PMJAX | PMJIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.34 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.23 | 4.31 | -0.08 |
| Martin ratioReturn relative to average drawdown | 13.04 | 13.25 | -0.21 |
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Drawdowns
PMJAX vs. PMJIX - Drawdown Comparison
The maximum PMJAX drawdown since its inception was -50.53%, roughly equal to the maximum PMJIX drawdown of -49.75%. Use the drawdown chart below to compare losses from any high point for PMJAX and PMJIX.
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Drawdown Indicators
| PMJAX | PMJIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.53% | -49.75% | -0.78% |
Max Drawdown (1Y)Largest decline over 1 year | -7.66% | -7.62% | -0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -26.72% | -26.04% | -0.68% |
Max Drawdown (5Y)Largest decline over 5 years | -50.53% | -49.75% | -0.78% |
Max Drawdown (10Y)Largest decline over 10 years | -50.53% | -49.75% | -0.78% |
Current DrawdownCurrent decline from peak | -1.33% | -1.27% | -0.06% |
Average DrawdownAverage peak-to-trough decline | -16.79% | -16.00% | -0.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.51% | 2.50% | +0.01% |
Volatility
PMJAX vs. PMJIX - Volatility Comparison
PIMCO RAE US Small Fund Class A (PMJAX) and PIMCO RAE US Small Fund (PMJIX) have volatilities of 3.26% and 3.21%, 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
| PMJAX | PMJIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.26% | 3.21% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 11.22% | 11.24% | -0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.82% | 16.83% | -0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.06% | 39.27% | +0.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.51% | 33.03% | +0.48% |
PMJAX vs. PMJIX - Expense Ratio Comparison
PMJAX has a 0.90% expense ratio, which is higher than PMJIX's 0.50% expense ratio.
Dividends
PMJAX vs. PMJIX - Dividend Comparison
PMJAX's dividend yield for the trailing twelve months is around 2.75%, more than PMJIX's 2.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PMJAX PIMCO RAE US Small Fund Class A | 2.75% | 3.31% | 2.48% | 1.40% | 10.08% | 67.74% | 9.44% | 1.37% | 7.72% | 4.51% | 1.16% | 0.00% |
PMJIX PIMCO RAE US Small Fund | 2.62% | 3.15% | 3.26% | 1.25% | 9.91% | 65.79% | 9.46% | 1.55% | 7.65% | 4.69% | 1.24% | 1.67% |
Frequently Asked Questions
With a correlation of 1.00, PMJAX and PMJIX 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.
PMJAX has higher volatility (3.26%) compared to PMJIX (3.21%). In terms of maximum drawdown, PMJAX dropped -50.53% vs PMJIX's -49.75%.
PMJIX currently has the higher Sharpe Ratio (1.96 vs 1.94), 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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