PONAX vs. PFIIX
PONAX (PIMCO Income Fund Class A) and PFIIX (PIMCO Low Duration Income Fund) are both mutual funds - PONAX is a Multisector Bonds fund managed by PIMCO, while PFIIX is a Short-Term Bond fund managed by PIMCO. Over the past 10 years, PONAX returned 4.22%/yr vs 4.78%/yr for PFIIX. At a 0.43 correlation, their price movements are largely independent. PONAX charges 1.02%/yr vs 0.50%/yr for PFIIX.
Performance
PONAX vs. PFIIX - Performance Comparison
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Returns By Period
In the year-to-date period, PONAX achieves a 0.18% return, which is significantly lower than PFIIX's 1.10% return. Over the past 10 years, PONAX has underperformed PFIIX with an annualized return of 4.22%, while PFIIX has yielded a comparatively higher 4.78% annualized return.
PONAX
- 1D
- 0.00%
- 1M
- 0.23%
- YTD
- 0.18%
- 6M
- 0.83%
- 1Y
- 6.76%
- 3Y*
- 7.14%
- 5Y*
- 2.94%
- 10Y*
- 4.22%
PFIIX
- 1D
- 0.00%
- 1M
- 0.28%
- YTD
- 1.10%
- 6M
- 1.56%
- 1Y
- 6.73%
- 3Y*
- 7.37%
- 5Y*
- 3.98%
- 10Y*
- 4.78%
PONAX vs. PFIIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PONAX PIMCO Income Fund Class A | 0.18% | 10.63% | 5.02% | 8.96% | -9.34% | 2.21% | 5.40% | 7.65% | 0.21% | 8.19% |
PFIIX PIMCO Low Duration Income Fund | 1.10% | 9.56% | 6.58% | 7.78% | -5.29% | 2.38% | 4.84% | 6.72% | 1.56% | 6.05% |
Correlation
The correlation between PONAX and PFIIX is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2007 | 0.43 |
Over the past year, PONAX and PFIIX have become more correlated (0.88) than their long-term average of 0.43, meaning their price movements have been converging.
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Return for Risk
PONAX vs. PFIIX — Risk / Return Rank
PONAX
PFIIX
PONAX vs. PFIIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Income Fund Class A (PONAX) and PIMCO Low Duration Income Fund (PFIIX). 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.
| PONAX | PFIIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.81 | ||
| Sortino ratioReturn per unit of downside risk | -1.60 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.61 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 1.93 | 3.27 | -1.34 |
| Martin ratioReturn relative to average drawdown | 6.45 | 13.92 | -7.48 |
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Drawdowns
PONAX vs. PFIIX - Drawdown Comparison
The maximum PONAX drawdown since its inception was -13.64%, smaller than the maximum PFIIX drawdown of -28.35%. Use the drawdown chart below to compare losses from any high point for PONAX and PFIIX.
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Drawdown Indicators
| PONAX | PFIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.64% | -28.35% | +14.71% |
Max Drawdown (1Y)Largest decline over 1 year | -3.69% | -2.16% | -1.53% |
Max Drawdown (3Y)Largest decline over 3 years | -3.90% | -2.23% | -1.67% |
Max Drawdown (5Y)Largest decline over 5 years | -13.64% | -8.84% | -4.80% |
Max Drawdown (10Y)Largest decline over 10 years | -13.64% | -11.72% | -1.92% |
Current DrawdownCurrent decline from peak | -1.67% | -0.36% | -1.31% |
Average DrawdownAverage peak-to-trough decline | -1.79% | -2.60% | +0.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | 0.50% | +0.60% |
Volatility
PONAX vs. PFIIX - Volatility Comparison
PIMCO Income Fund Class A (PONAX) has a higher volatility of 1.62% compared to PIMCO Low Duration Income Fund (PFIIX) at 1.03%. This indicates that PONAX's price experiences larger fluctuations and is considered to be riskier than PFIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PONAX | PFIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 1.03% | +0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 3.30% | 2.20% | +1.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.10% | 2.77% | +1.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.82% | 3.18% | +1.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.22% | 3.17% | +1.05% |
PONAX vs. PFIIX - Expense Ratio Comparison
PONAX has a 1.02% expense ratio, which is higher than PFIIX's 0.50% expense ratio.
Dividends
PONAX vs. PFIIX - Dividend Comparison
PONAX's dividend yield for the trailing twelve months is around 5.46%, more than PFIIX's 5.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PFIIX PIMCO Low Duration Income Fund | 5.29% | 5.49% | 5.37% | 4.97% | 5.35% | 3.06% | 3.44% | 4.74% | 3.22% | 3.13% | 3.75% | 5.36% |
PONAX PIMCO Income Fund Class A | 5.46% | 5.61% | 5.86% | 5.86% | 4.66% | 3.62% | 4.48% | 5.42% | 5.24% | 4.97% | 5.13% | 7.45% |
Frequently Asked Questions
PONAX and PFIIX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PONAX has higher volatility (1.62%) compared to PFIIX (1.03%). In terms of maximum drawdown, PONAX dropped -13.64% vs PFIIX's -28.35%.
PFIIX currently has the higher Sharpe Ratio (2.55 vs 1.74), 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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