PMZIX vs. BGCIX
PMZIX (PIMCO Mortgage Opportunities and Bond Fund) and BGCIX (BlackRock Global Long/Short Credit Fund) are both Nontraditional Bonds funds. Over the past 10 years, PMZIX returned 3.60%/yr vs 4.22%/yr for BGCIX. At a 0.15 correlation, their price movements are largely independent. PMZIX charges 0.60%/yr vs 1.12%/yr for BGCIX.
Performance
PMZIX vs. BGCIX - Performance Comparison
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Returns By Period
In the year-to-date period, PMZIX achieves a 1.04% return, which is significantly lower than BGCIX's 1.33% return. Over the past 10 years, PMZIX has underperformed BGCIX with an annualized return of 3.60%, while BGCIX has yielded a comparatively higher 4.22% annualized return.
PMZIX
- 1D
- 0.00%
- 1M
- 0.35%
- YTD
- 1.04%
- 6M
- 1.42%
- 1Y
- 6.34%
- 3Y*
- 6.56%
- 5Y*
- 2.98%
- 10Y*
- 3.60%
BGCIX
- 1D
- 0.00%
- 1M
- 0.77%
- YTD
- 1.33%
- 6M
- 1.74%
- 1Y
- 4.81%
- 3Y*
- 7.26%
- 5Y*
- 3.27%
- 10Y*
- 4.22%
PMZIX vs. BGCIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PMZIX PIMCO Mortgage Opportunities and Bond Fund | 1.04% | 8.50% | 5.74% | 7.03% | -8.00% | 2.42% | 5.44% | 5.04% | 1.55% | 5.50% |
BGCIX BlackRock Global Long/Short Credit Fund | 1.33% | 6.55% | 8.47% | 8.87% | -8.02% | 3.48% | 10.71% | 7.43% | -1.78% | 3.46% |
Correlation
The correlation between PMZIX and BGCIX is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013 | 0.15 |
The correlation between PMZIX and BGCIX shifts across timeframes, from 0.15 (all time) to 0.31 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
PMZIX vs. BGCIX — Risk / Return Rank
PMZIX
BGCIX
PMZIX vs. BGCIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Mortgage Opportunities and Bond Fund (PMZIX) and BlackRock Global Long/Short Credit Fund (BGCIX). 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.
| PMZIX | BGCIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.69 | ||
| Sortino ratioReturn per unit of downside risk | -3.17 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.99 | -0.61 |
| Calmar ratioReturn relative to maximum drawdown | 2.59 | 4.88 | -2.29 |
| Martin ratioReturn relative to average drawdown | 9.48 | 20.54 | -11.06 |
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
| PMZIX | BGCIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.87 | 3.56 | -1.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.78 | 1.73 | -0.95 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.12 | 1.34 | -0.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.24 | 1.35 | -0.11 |
Drawdowns
PMZIX vs. BGCIX - Drawdown Comparison
The maximum PMZIX drawdown since its inception was -10.44%, roughly equal to the maximum BGCIX drawdown of -10.37%. Use the drawdown chart below to compare losses from any high point for PMZIX and BGCIX.
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Drawdown Indicators
| PMZIX | BGCIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.44% | -10.37% | -0.07% |
Max Drawdown (1Y)Largest decline over 1 year | -2.42% | -0.99% | -1.43% |
Max Drawdown (3Y)Largest decline over 3 years | -3.53% | -2.18% | -1.35% |
Max Drawdown (5Y)Largest decline over 5 years | -10.44% | -9.78% | -0.66% |
Max Drawdown (10Y)Largest decline over 10 years | -10.44% | -10.37% | -0.07% |
Current DrawdownCurrent decline from peak | -0.56% | 0.00% | -0.56% |
Average DrawdownAverage peak-to-trough decline | -1.18% | -1.27% | +0.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 0.23% | +0.43% |
Volatility
PMZIX vs. BGCIX - Volatility Comparison
PIMCO Mortgage Opportunities and Bond Fund (PMZIX) has a higher volatility of 1.23% compared to BlackRock Global Long/Short Credit Fund (BGCIX) at 0.39%. This indicates that PMZIX's price experiences larger fluctuations and is considered to be riskier than BGCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMZIX | BGCIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 0.39% | +0.84% |
Volatility (6M)Calculated over the trailing 6-month period | 2.43% | 0.97% | +1.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.36% | 1.36% | +2.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.85% | 1.90% | +1.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.23% | 3.15% | +0.08% |
PMZIX vs. BGCIX - Expense Ratio Comparison
PMZIX has a 0.60% expense ratio, which is lower than BGCIX's 1.12% expense ratio.
Dividends
PMZIX vs. BGCIX - Dividend Comparison
PMZIX's dividend yield for the trailing twelve months is around 5.52%, less than BGCIX's 5.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BGCIX BlackRock Global Long/Short Credit Fund | 5.75% | 5.83% | 7.13% | 3.33% | 8.25% | 3.57% | 9.87% | 3.75% | 6.01% | 1.16% | 0.00% | 5.11% |
PMZIX PIMCO Mortgage Opportunities and Bond Fund | 5.52% | 5.84% | 7.59% | 6.74% | 5.87% | 3.99% | 3.96% | 4.38% | 4.34% | 3.62% | 5.24% | 4.08% |
Frequently Asked Questions
PMZIX and BGCIX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PMZIX has higher volatility (1.23%) compared to BGCIX (0.39%). In terms of maximum drawdown, PMZIX dropped -10.44% vs BGCIX's -10.37%.
BGCIX currently has the higher Sharpe Ratio (3.56 vs 1.87), 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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