POBAX vs. PLSRX

Last updated Jun 23, 2026

POBAX (Pacific Funds Portfolio Optimization Moderate-Conservative) and PLSRX (Pacific Funds Strategic Income) are both mutual funds - POBAX is a Diversified Portfolio fund managed by Pacific Funds Series Trust, while PLSRX is a Multisector Bonds fund managed by Pacific Funds Series Trust. Over the past 10 years, POBAX returned 5.88%/yr vs 4.98%/yr for PLSRX. A 0.59 correlation means they provide meaningful diversification when combined. POBAX charges 0.60%/yr vs 0.64%/yr for PLSRX.

Performance

POBAX vs. PLSRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacific Funds Portfolio Optimization Moderate-Conservative (POBAX) and Pacific Funds Strategic Income (PLSRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, POBAX achieves a 5.37% return, which is significantly higher than PLSRX's 1.28% return. Over the past 10 years, POBAX has outperformed PLSRX with an annualized return of 5.88%, while PLSRX has yielded a comparatively lower 4.98% annualized return.

POBAX

• 1D: 0.60%
• 1M: 1.12%
• YTD: 5.37%
• 6M: 5.28%
• 1Y: 13.56%
• 3Y*: 10.10%
• 5Y*: 3.86%
• 10Y*: 5.88%

PLSRX

• 1D: 0.19%
• 1M: 0.57%
• YTD: 1.28%
• 6M: 1.53%
• 1Y: 5.72%
• 3Y*: 7.03%
• 5Y*: 3.26%
• 10Y*: 4.98%

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

POBAX vs. PLSRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
POBAX Pacific Funds Portfolio Optimization Moderate-Conservative	5.37%	11.53%	8.17%	11.33%	-16.92%	7.64%	12.39%	15.64%	-5.83%	10.46%
PLSRX Pacific Funds Strategic Income	1.28%	7.40%	6.04%	11.24%	-9.67%	3.61%	9.82%	13.65%	-2.64%	6.85%

Correlation

The correlation between POBAX and PLSRX is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.64
Correlation (All Time) Calculated using the full available price history since Dec 20, 2011	0.59

The correlation between POBAX and PLSRX shifts across timeframes, from 0.59 (all time) to 0.69 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

POBAX vs. PLSRX — Risk / Return Rank

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

POBAX

POBAX Risk / Return Rank: 57
POBAX Sharpe Ratio Rank: 56
POBAX Sortino Ratio Rank: 59
POBAX Omega Ratio Rank: 58
POBAX Calmar Ratio Rank: 51
POBAX Martin Ratio Rank: 63

PLSRX

PLSRX Risk / Return Rank: 67
PLSRX Sharpe Ratio Rank: 66
PLSRX Sortino Ratio Rank: 75
PLSRX Omega Ratio Rank: 74
PLSRX Calmar Ratio Rank: 56
PLSRX Martin Ratio Rank: 67

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.

POBAX vs. PLSRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacific Funds Portfolio Optimization Moderate-Conservative (POBAX) and Pacific Funds Strategic Income (PLSRX). 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.

	POBAX	PLSRX	Difference
Sharpe ratio: Return per unit of total volatility	2.04	2.18	-0.14
Sortino ratio: Return per unit of downside risk	2.94	3.30	-0.36
Omega ratio: Gain probability vs. loss probability	1.38	1.44	-0.05
Calmar ratio: Return relative to maximum drawdown	2.62	2.73	-0.10
Martin ratio: Return relative to average drawdown	11.65	12.14	-0.48

POBAX vs. PLSRX - Sharpe Ratio Comparison

The current POBAX Sharpe Ratio is 2.04, which is comparable to the PLSRX Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of POBAX and PLSRX, 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

POBAX vs. PLSRX - Drawdown Comparison

The maximum POBAX drawdown since its inception was -29.15%, which is greater than PLSRX's maximum drawdown of -19.88%. Use the drawdown chart below to compare losses from any high point for POBAX and PLSRX.

Drawdown Indicators

	POBAX	PLSRX	Difference
Max Drawdown Largest peak-to-trough decline	-29.15%	-19.88%	-9.27%
Max Drawdown (1Y) Largest decline over 1 year	-5.15%	-2.14%	-3.01%
Max Drawdown (3Y) Largest decline over 3 years	-8.39%	-3.29%	-5.10%
Max Drawdown (5Y) Largest decline over 5 years	-22.33%	-13.71%	-8.62%
Max Drawdown (10Y) Largest decline over 10 years	-22.33%	-19.88%	-2.45%
Current Drawdown Current decline from peak	-0.25%	-0.10%	-0.15%
Average Drawdown Average peak-to-trough decline	-3.58%	-1.73%	-1.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.16%	0.48%	+0.68%

Volatility

POBAX vs. PLSRX - Volatility Comparison

Pacific Funds Portfolio Optimization Moderate-Conservative (POBAX) has a higher volatility of 2.64% compared to Pacific Funds Strategic Income (PLSRX) at 0.91%. This indicates that POBAX's price experiences larger fluctuations and is considered to be riskier than PLSRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	POBAX	PLSRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.64%	0.91%	+1.73%
Volatility (6M) Calculated over the trailing 6-month period	5.52%	2.17%	+3.35%
Volatility (1Y) Calculated over the trailing 1-year period	6.63%	2.68%	+3.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.44%	4.02%	+7.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.90%	4.46%	+5.44%

POBAX vs. PLSRX - Expense Ratio Comparison

POBAX has a 0.60% expense ratio, which is lower than PLSRX's 0.64% expense ratio.

Dividends

POBAX vs. PLSRX - Dividend Comparison

POBAX's dividend yield for the trailing twelve months is around 2.90%, less than PLSRX's 5.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PLSRX Pacific Funds Strategic Income	5.61%	5.67%	5.97%	5.17%	4.73%	4.10%	3.84%	4.32%	4.74%	3.87%	4.14%	4.71%
POBAX Pacific Funds Portfolio Optimization Moderate-Conservative	2.90%	3.06%	3.68%	2.67%	13.64%	6.84%	2.56%	2.31%	20.06%	3.22%	4.32%	5.46%

Frequently Asked Questions

Can I hold both POBAX and PLSRX in my portfolio?

POBAX and PLSRX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, POBAX or PLSRX?

POBAX has higher volatility (2.64%) compared to PLSRX (0.91%). In terms of maximum drawdown, POBAX dropped -29.15% vs PLSRX's -19.88%.

Which has better risk-adjusted returns?

PLSRX currently has the higher Sharpe Ratio (2.18 vs 2.04), 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.