PPQZX vs. FXAIX

Last updated Jun 4, 2026

PPQZX (PIMCO RealPath Blend 2050 Fund) and FXAIX (Fidelity 500 Index Fund) are both mutual funds - PPQZX is a Target Retirement Date fund managed by PIMCO, while FXAIX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, PPQZX returned 11.63%/yr vs 15.66%/yr for FXAIX. Their correlation of 0.94 suggests significant overlap in exposure. PPQZX charges 0.06%/yr vs 0.02%/yr for FXAIX.

Performance

PPQZX vs. FXAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO RealPath Blend 2050 Fund (PPQZX) and Fidelity 500 Index Fund (FXAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with PPQZX having a 12.28% return and FXAIX slightly lower at 11.71%. Over the past 10 years, PPQZX has underperformed FXAIX with an annualized return of 11.63%, while FXAIX has yielded a comparatively higher 15.66% annualized return.

PPQZX

• 1D: 0.34%
• 1M: 4.93%
• YTD: 12.28%
• 6M: 13.13%
• 1Y: 27.90%
• 3Y*: 19.10%
• 5Y*: 10.27%
• 10Y*: 11.63%

FXAIX

• 1D: 0.13%
• 1M: 5.80%
• YTD: 11.71%
• 6M: 11.74%
• 1Y: 28.99%
• 3Y*: 22.75%
• 5Y*: 14.28%
• 10Y*: 15.66%

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

PPQZX vs. FXAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PPQZX PIMCO RealPath Blend 2050 Fund	12.28%	20.62%	13.93%	19.69%	-17.27%	18.50%	13.70%	25.09%	-7.75%	19.88%
FXAIX Fidelity 500 Index Fund	11.71%	17.84%	25.01%	26.29%	-18.14%	28.71%	18.42%	31.48%	-4.43%	21.82%

Correlation

The correlation between PPQZX and FXAIX is 0.95, 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jan 5, 2015	0.94

The correlation between PPQZX and FXAIX has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

Return for Risk

PPQZX vs. FXAIX — Risk / Return Rank

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

PPQZX

PPQZX Risk / Return Rank: 75
PPQZX Sharpe Ratio Rank: 79
PPQZX Sortino Ratio Rank: 73
PPQZX Omega Ratio Rank: 73
PPQZX Calmar Ratio Rank: 70
PPQZX Martin Ratio Rank: 78

FXAIX

FXAIX Risk / Return Rank: 73
FXAIX Sharpe Ratio Rank: 76
FXAIX Sortino Ratio Rank: 67
FXAIX Omega Ratio Rank: 67
FXAIX Calmar Ratio Rank: 74
FXAIX Martin Ratio Rank: 83

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.

PPQZX vs. FXAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO RealPath Blend 2050 Fund (PPQZX) and Fidelity 500 Index Fund (FXAIX). 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.

	PPQZX	FXAIX	Difference
Sharpe ratio: Return per unit of total volatility	2.59	2.52	+0.07
Sortino ratio: Return per unit of downside risk	3.56	3.42	+0.14
Omega ratio: Gain probability vs. loss probability	1.48	1.46	+0.02
Calmar ratio: Return relative to maximum drawdown	3.25	3.36	-0.11
Martin ratio: Return relative to average drawdown	14.65	15.70	-1.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PPQZX vs. FXAIX - Sharpe Ratio Comparison

The current PPQZX Sharpe Ratio is 2.59, which is comparable to the FXAIX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of PPQZX and FXAIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PPQZX	FXAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.59	2.52	+0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.85	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	0.87	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.82	-0.12

Drawdowns

PPQZX vs. FXAIX - Drawdown Comparison

The maximum PPQZX drawdown since its inception was -31.59%, smaller than the maximum FXAIX drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for PPQZX and FXAIX.

Drawdown Indicators

	PPQZX	FXAIX	Difference
Max Drawdown Largest peak-to-trough decline	-31.59%	-33.79%	+2.20%
Max Drawdown (1Y) Largest decline over 1 year	-8.74%	-8.89%	+0.15%
Max Drawdown (3Y) Largest decline over 3 years	-14.46%	-18.76%	+4.30%
Max Drawdown (5Y) Largest decline over 5 years	-25.57%	-24.50%	-1.07%
Max Drawdown (10Y) Largest decline over 10 years	-31.59%	-33.79%	+2.20%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.66%	-3.79%	-0.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.93%	1.90%	+0.03%

Volatility

PPQZX vs. FXAIX - Volatility Comparison

PIMCO RealPath Blend 2050 Fund (PPQZX) has a higher volatility of 3.28% compared to Fidelity 500 Index Fund (FXAIX) at 2.83%. This indicates that PPQZX's price experiences larger fluctuations and is considered to be riskier than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PPQZX	FXAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.28%	2.83%	+0.45%
Volatility (6M) Calculated over the trailing 6-month period	8.70%	8.97%	-0.27%
Volatility (1Y) Calculated over the trailing 1-year period	10.95%	11.86%	-0.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.15%	16.91%	-2.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.80%	18.07%	-3.27%

PPQZX vs. FXAIX - Expense Ratio Comparison

PPQZX has a 0.06% expense ratio, which is higher than FXAIX's 0.02% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

PPQZX vs. FXAIX - Dividend Comparison

PPQZX's dividend yield for the trailing twelve months is around 3.55%, more than FXAIX's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXAIX Fidelity 500 Index Fund	1.03%	1.11%	1.25%	1.45%	1.69%	1.22%	1.60%	2.06%	2.72%	1.97%	2.52%	2.83%
PPQZX PIMCO RealPath Blend 2050 Fund	3.55%	3.82%	4.55%	2.29%	2.43%	5.31%	1.28%	3.79%	6.75%	2.09%	2.40%	2.19%

Frequently Asked Questions

Can I hold both PPQZX and FXAIX in my portfolio?

With a correlation of 0.95, PPQZX and FXAIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PPQZX or FXAIX?

PPQZX has higher volatility (3.28%) compared to FXAIX (2.83%). In terms of maximum drawdown, PPQZX dropped -31.59% vs FXAIX's -33.79%.

Which has better risk-adjusted returns?

PPQZX currently has the higher Sharpe Ratio (2.59 vs 2.52), 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.