PMJIX vs. TASCX

Last updated Jun 25, 2026

PMJIX (PIMCO RAE US Small Fund) and TASCX (Third Avenue Small Cap Value Fund) are both Small Cap Value Equities funds. Over the past 10 years, PMJIX returned 13.98%/yr vs 11.12%/yr for TASCX. Their correlation of 0.86 suggests significant overlap in exposure. PMJIX charges 0.50%/yr vs 1.15%/yr for TASCX.

Performance

PMJIX vs. TASCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO RAE US Small Fund (PMJIX) and Third Avenue Small Cap Value Fund (TASCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with PMJIX having a 18.23% return and TASCX slightly lower at 17.60%. Over the past 10 years, PMJIX has outperformed TASCX with an annualized return of 13.98%, while TASCX has yielded a comparatively lower 11.12% annualized return.

PMJIX

• 1D: -0.58%
• 1M: 3.85%
• YTD: 18.23%
• 6M: 14.97%
• 1Y: 33.78%
• 3Y*: 21.87%
• 5Y*: 10.58%
• 10Y*: 13.98%

TASCX

• 1D: 1.04%
• 1M: 2.41%
• YTD: 17.60%
• 6M: 15.25%
• 1Y: 32.01%
• 3Y*: 17.64%
• 5Y*: 11.38%
• 10Y*: 11.12%

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

PMJIX vs. TASCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PMJIX PIMCO RAE US Small Fund	18.23%	5.11%	22.05%	19.77%	-4.62%	39.15%	6.95%	20.22%	-11.69%	9.22%
TASCX Third Avenue Small Cap Value Fund	17.60%	14.79%	3.04%	22.49%	-1.87%	25.92%	-2.96%	22.92%	-12.55%	8.89%

Correlation

The correlation between PMJIX and TASCX is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jun 5, 2015	0.86

The correlation between PMJIX and TASCX shifts across timeframes, from 0.76 (3 years) to 0.86 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PMJIX vs. TASCX — Risk / Return Rank

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

PMJIX

PMJIX Risk / Return Rank: 67
PMJIX Sharpe Ratio Rank: 58
PMJIX Sortino Ratio Rank: 59
PMJIX Omega Ratio Rank: 48
PMJIX Calmar Ratio Rank: 92
PMJIX Martin Ratio Rank: 79

TASCX

TASCX Risk / Return Rank: 82
TASCX Sharpe Ratio Rank: 77
TASCX Sortino Ratio Rank: 80
TASCX Omega Ratio Rank: 67
TASCX Calmar Ratio Rank: 95
TASCX Martin Ratio Rank: 91

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.

PMJIX vs. TASCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO RAE US Small Fund (PMJIX) and Third Avenue Small Cap Value Fund (TASCX). 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.

	PMJIX	TASCX	Difference
Sharpe ratio: Return per unit of total volatility	2.03	2.31	-0.28
Sortino ratio: Return per unit of downside risk	2.90	3.42	-0.51
Omega ratio: Gain probability vs. loss probability	1.34	1.40	-0.06
Calmar ratio: Return relative to maximum drawdown	4.61	5.26	-0.65
Martin ratio: Return relative to average drawdown	13.64	16.53	-2.90

PMJIX vs. TASCX - Sharpe Ratio Comparison

The current PMJIX Sharpe Ratio is 2.03, which is comparable to the TASCX Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of PMJIX and TASCX, 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

PMJIX vs. TASCX - Drawdown Comparison

The maximum PMJIX drawdown since its inception was -49.75%, smaller than the maximum TASCX drawdown of -58.55%. Use the drawdown chart below to compare losses from any high point for PMJIX and TASCX.

Drawdown Indicators

	PMJIX	TASCX	Difference
Max Drawdown Largest peak-to-trough decline	-49.75%	-58.55%	+8.80%
Max Drawdown (1Y) Largest decline over 1 year	-7.62%	-6.29%	-1.33%
Max Drawdown (3Y) Largest decline over 3 years	-26.04%	-30.26%	+4.22%
Max Drawdown (5Y) Largest decline over 5 years	-49.75%	-30.26%	-19.49%
Max Drawdown (10Y) Largest decline over 10 years	-49.75%	-40.45%	-9.30%
Current Drawdown Current decline from peak	-2.76%	-0.61%	-2.15%
Average Drawdown Average peak-to-trough decline	-16.14%	-8.60%	-7.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.57%	2.00%	+0.57%

Volatility

PMJIX vs. TASCX - Volatility Comparison

PIMCO RAE US Small Fund (PMJIX) has a higher volatility of 5.31% compared to Third Avenue Small Cap Value Fund (TASCX) at 3.09%. This indicates that PMJIX's price experiences larger fluctuations and is considered to be riskier than TASCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PMJIX	TASCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.31%	3.09%	+2.22%
Volatility (6M) Calculated over the trailing 6-month period	11.89%	9.08%	+2.81%
Volatility (1Y) Calculated over the trailing 1-year period	17.30%	14.31%	+2.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.45%	25.33%	+14.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.08%	24.10%	+8.98%

PMJIX vs. TASCX - Expense Ratio Comparison

PMJIX has a 0.50% expense ratio, which is lower than TASCX's 1.15% expense ratio.

Dividends

PMJIX vs. TASCX - Dividend Comparison

PMJIX's dividend yield for the trailing twelve months is around 2.67%, less than TASCX's 3.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PMJIX PIMCO RAE US Small Fund	2.67%	3.15%	3.26%	1.25%	9.91%	65.79%	9.46%	1.55%	7.65%	4.69%	1.24%	1.67%
TASCX Third Avenue Small Cap Value Fund	3.21%	3.78%	11.87%	14.38%	5.40%	8.55%	1.50%	7.75%	12.67%	13.61%	9.15%	14.70%

Frequently Asked Questions

Can I hold both PMJIX and TASCX in my portfolio?

PMJIX and TASCX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PMJIX or TASCX?

PMJIX has higher volatility (5.31%) compared to TASCX (3.09%). In terms of maximum drawdown, PMJIX dropped -49.75% vs TASCX's -58.55%.

Which has better risk-adjusted returns?

TASCX currently has the higher Sharpe Ratio (2.31 vs 2.03), 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.