PONPX vs. MOFIX
PONPX (PIMCO Income Fund Class I-2) and MOFIX (Mercer Opportunistic Fixed Income Fund) are both Multisector Bonds funds. Over the past 5 years, PONPX returned 3.07%/yr vs 1.20%/yr for MOFIX. Their 0.67 correlation means they have sometimes moved together and sometimes differently. PONPX charges 0.64%/yr vs 0.44%/yr for MOFIX.
Performance
PONPX vs. MOFIX - Performance Comparison
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Returns By Period
In the year-to-date period, PONPX achieves a -0.10% return, which is significantly higher than MOFIX's -2.24% return.
PONPX
- 1D
- -0.28%
- 1M
- -1.47%
- 6M
- -0.59%
- YTD
- -0.10%
- 1Y
- 4.21%
- 3Y*
- 6.84%
- 5Y*
- 3.07%
- 10Y*
- 4.32%
- ALL TIME*
- 7.22%
MOFIX
- 1D
- -0.12%
- 1M
- -1.07%
- 6M
- -2.47%
- YTD
- -2.24%
- 1Y
- -0.14%
- 3Y*
- 4.37%
- 5Y*
- 1.20%
- 10Y*
- —
- ALL TIME*
- 2.02%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PONPX vs. MOFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PONPX PIMCO Income Fund Class I-2 | -0.10% | 10.96% | 5.33% | 9.24% | -9.14% | 2.51% | 5.73% | 4.39% |
MOFIX Mercer Opportunistic Fixed Income Fund | -2.24% | 8.60% | 2.23% | 12.22% | -11.57% | -1.15% | 5.31% | 3.18% |
Correlation
The correlation between PONPX and MOFIX is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.70 |
Correlation (3Y) Balances recent behavior with more history. | 0.68 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.72 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2019 | 0.67 |
The correlation between PONPX and MOFIX has been stable across timeframes, ranging from 0.67 to 0.72 - a consistent structural relationship.
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Return for Risk
PONPX vs. MOFIX — Risk / Return Rank
PONPX
MOFIX
PONPX vs. MOFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Income Fund Class I-2 (PONPX) and Mercer Opportunistic Fixed Income Fund (MOFIX). 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.
| PONPX | MOFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.25 | ||
| Sortino ratioReturn per unit of downside risk | +1.79 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 0.99 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.33 | -0.04 | +1.38 |
| Martin ratioReturn relative to average drawdown | 4.20 | -0.11 | +4.32 |
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Drawdowns
PONPX vs. MOFIX - Drawdown Comparison
The maximum PONPX drawdown since its inception was -13.41%, smaller than the maximum MOFIX drawdown of -19.96%. Use the drawdown chart below to compare losses from any high point for PONPX and MOFIX.
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Drawdown Indicators
| PONPX | MOFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.41% | -19.96% | +6.55% |
Max Drawdown (1Y)Largest decline over 1 year | -3.69% | -3.52% | -0.17% |
Max Drawdown (3Y)Largest decline over 3 years | -3.69% | -8.02% | +4.33% |
Max Drawdown (5Y)Largest decline over 5 years | -13.41% | -19.00% | +5.59% |
Max Drawdown (10Y)Largest decline over 10 years | -13.41% | — | — |
Current DrawdownCurrent decline from peak | -1.99% | -2.70% | +0.71% |
Average DrawdownAverage peak-to-trough decline | -1.44% | -5.10% | +3.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 1.33% | -0.16% |
Volatility
PONPX vs. MOFIX - Volatility Comparison
PIMCO Income Fund Class I-2 (PONPX) has a higher volatility of 1.17% compared to Mercer Opportunistic Fixed Income Fund (MOFIX) at 0.68%. This indicates that PONPX's price experiences larger fluctuations and is considered to be riskier than MOFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PONPX | MOFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 0.68% | +0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 3.56% | 2.38% | +1.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.14% | 2.98% | +1.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.88% | 7.26% | -2.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.25% | 7.10% | -2.85% |
PONPX vs. MOFIX - Expense Ratio Comparison
PONPX has a 0.64% expense ratio, which is higher than MOFIX's 0.44% expense ratio.
Dividends
PONPX vs. MOFIX - Dividend Comparison
PONPX's dividend yield for the trailing twelve months is around 5.24%, more than MOFIX's 3.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MOFIX Mercer Opportunistic Fixed Income Fund | 3.40% | 3.32% | 6.91% | 6.44% | 3.81% | 4.20% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PONPX PIMCO Income Fund Class I-2 | 5.24% | 5.91% | 6.16% | 6.11% | 4.89% | 3.92% | 4.78% | 5.73% | 5.56% | 5.27% | 5.42% | 7.77% |
Frequently Asked Questions
PONPX and MOFIX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PONPX has higher volatility (1.17%) compared to MOFIX (0.68%). In terms of maximum drawdown, PONPX dropped -13.41% vs MOFIX's -19.96%.
PONPX currently has the higher Sharpe Ratio (1.20 vs -0.05), 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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