POAAX vs. BRUFX

Last updated Jul 11, 2026

POAAX (Pacific Funds Portfolio Optimization Conservative) and BRUFX (Bruce Fund) are both Diversified Portfolio funds. Over the past 10 years, POAAX returned 3.94%/yr vs 7.50%/yr for BRUFX. A 0.63 correlation means they provide meaningful diversification when combined. POAAX charges 0.60%/yr vs 0.68%/yr for BRUFX.

Performance

POAAX vs. BRUFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacific Funds Portfolio Optimization Conservative (POAAX) and Bruce Fund (BRUFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, POAAX achieves a 3.48% return, which is significantly lower than BRUFX's 15.04% return. Over the past 10 years, POAAX has underperformed BRUFX with an annualized return of 3.94%, while BRUFX has yielded a comparatively higher 7.50% annualized return.

POAAX

• 1D: 0.28%
• 1M: 0.28%
• 6M: 2.59%
• YTD: 3.48%
• 1Y: 8.27%
• 3Y*: 8.12%
• 5Y*: 2.33%
• 10Y*: 3.94%

BRUFX

• 1D: 0.12%
• 1M: 3.18%
• 6M: 12.05%
• YTD: 15.04%
• 1Y: 26.15%
• 3Y*: 12.59%
• 5Y*: 5.79%
• 10Y*: 7.50%

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

POAAX vs. BRUFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
POAAX Pacific Funds Portfolio Optimization Conservative	3.48%	9.54%	6.07%	9.40%	-15.03%	3.96%	10.82%	12.14%	-4.18%	7.80%
BRUFX Bruce Fund	15.04%	14.89%	4.45%	-0.74%	-8.80%	17.35%	12.06%	22.42%	-3.99%	12.48%

Correlation

The correlation between POAAX and BRUFX is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (10Y) Calculated over the trailing 10-year period	0.64
Correlation (All Time) Calculated using the full available price history since Dec 31, 2003	0.63

The correlation between POAAX and BRUFX has been stable across timeframes, ranging from 0.57 to 0.64 - a consistent structural relationship.

Return for Risk

POAAX vs. BRUFX — Risk / Return Rank

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

POAAX

POAAX Risk / Return Rank: 52
POAAX Sharpe Ratio Rank: 52
POAAX Sortino Ratio Rank: 53
POAAX Omega Ratio Rank: 54
POAAX Calmar Ratio Rank: 45
POAAX Martin Ratio Rank: 58

BRUFX

BRUFX Risk / Return Rank: 88
BRUFX Sharpe Ratio Rank: 90
BRUFX Sortino Ratio Rank: 87
BRUFX Omega Ratio Rank: 83
BRUFX Calmar Ratio Rank: 88
BRUFX Martin Ratio Rank: 93

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.

POAAX vs. BRUFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacific Funds Portfolio Optimization Conservative (POAAX) and Bruce Fund (BRUFX). 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.

	POAAX	BRUFX	Difference
Sharpe ratio: Return per unit of total volatility	1.62	2.45	-0.83
Sortino ratio: Return per unit of downside risk	2.33	3.49	-1.16
Omega ratio: Gain probability vs. loss probability	1.30	1.43	-0.13
Calmar ratio: Return relative to maximum drawdown	2.06	3.44	-1.38
Martin ratio: Return relative to average drawdown	9.04	15.21	-6.17

POAAX vs. BRUFX - Sharpe Ratio Comparison

The current POAAX Sharpe Ratio is 1.62, which is lower than the BRUFX Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of POAAX and BRUFX, 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

POAAX vs. BRUFX - Drawdown Comparison

The maximum POAAX drawdown since its inception was -20.48%, smaller than the maximum BRUFX drawdown of -44.50%. Use the drawdown chart below to compare losses from any high point for POAAX and BRUFX.

Drawdown Indicators

	POAAX	BRUFX	Difference
Max Drawdown Largest peak-to-trough decline	-20.48%	-44.50%	+24.02%
Max Drawdown (1Y) Largest decline over 1 year	-3.88%	-7.67%	+3.79%
Max Drawdown (3Y) Largest decline over 3 years	-5.23%	-9.66%	+4.43%
Max Drawdown (5Y) Largest decline over 5 years	-20.48%	-17.91%	-2.57%
Max Drawdown (10Y) Largest decline over 10 years	-20.48%	-25.44%	+4.96%
Current Drawdown Current decline from peak	-0.37%	-1.10%	+0.73%
Average Drawdown Average peak-to-trough decline	-2.79%	-9.05%	+6.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	1.73%	-0.85%

Volatility

POAAX vs. BRUFX - Volatility Comparison

The current volatility for Pacific Funds Portfolio Optimization Conservative (POAAX) is 1.62%, while Bruce Fund (BRUFX) has a volatility of 3.21%. This indicates that POAAX experiences smaller price fluctuations and is considered to be less risky than BRUFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	POAAX	BRUFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.62%	3.21%	-1.59%
Volatility (6M) Calculated over the trailing 6-month period	4.16%	8.43%	-4.27%
Volatility (1Y) Calculated over the trailing 1-year period	4.96%	10.79%	-5.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.43%	10.57%	-3.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.45%	11.64%	-5.19%

POAAX vs. BRUFX - Expense Ratio Comparison

POAAX has a 0.60% expense ratio, which is lower than BRUFX's 0.68% expense ratio.

Dividends

POAAX vs. BRUFX - Dividend Comparison

POAAX's dividend yield for the trailing twelve months is around 3.71%, less than BRUFX's 5.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRUFX Bruce Fund	5.52%	6.35%	5.01%	6.46%	13.31%	9.25%	5.83%	2.03%	2.49%	4.11%	6.26%	4.63%
POAAX Pacific Funds Portfolio Optimization Conservative	3.71%	3.84%	4.24%	3.39%	6.99%	4.14%	2.89%	2.04%	12.02%	2.18%	1.28%	3.64%

Frequently Asked Questions

Can I hold both POAAX and BRUFX in my portfolio?

POAAX and BRUFX have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, POAAX or BRUFX?

BRUFX has higher volatility (3.21%) compared to POAAX (1.62%). In terms of maximum drawdown, POAAX dropped -20.48% vs BRUFX's -44.50%.

Which has better risk-adjusted returns?

BRUFX currently has the higher Sharpe Ratio (2.45 vs 1.62), 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.