PQTPX vs. RWSIX

Last updated Jun 23, 2026

PQTPX (PIMCO TRENDS Managed Futures Strategy Fund) and RWSIX (Redwood Systematic Macro Trend ("SMarT") Fund) are both Systematic Trend funds. Over the past 5 years, PQTPX returned 3.90%/yr vs 2.43%/yr for RWSIX. At a 0.11 correlation, their price movements are largely independent. PQTPX charges 1.51%/yr vs 1.30%/yr for RWSIX.

Performance

PQTPX vs. RWSIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO TRENDS Managed Futures Strategy Fund (PQTPX) and Redwood Systematic Macro Trend ("SMarT") Fund (RWSIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PQTPX achieves a 5.39% return, which is significantly lower than RWSIX's 8.02% return.

PQTPX

• 1D: 0.91%
• 1M: -0.42%
• YTD: 5.39%
• 6M: 5.89%
• 1Y: 20.09%
• 3Y*: 1.04%
• 5Y*: 3.90%
• 10Y*: 4.43%

RWSIX

• 1D: 0.29%
• 1M: -0.93%
• YTD: 8.02%
• 6M: 8.09%
• 1Y: 15.77%
• 3Y*: 2.17%
• 5Y*: 2.43%
• 10Y*: —

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

PQTPX vs. RWSIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PQTPX PIMCO TRENDS Managed Futures Strategy Fund	5.39%	2.41%	-3.08%	-4.21%	11.37%	14.83%	9.72%	2.83%	2.30%	2.11%
RWSIX Redwood Systematic Macro Trend ("SMarT") Fund	8.02%	-2.43%	-0.64%	8.92%	-6.10%	18.37%	22.40%	11.18%	-3.55%	-6.27%

Correlation

The correlation between PQTPX and RWSIX is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (All Time) Calculated using the full available price history since Oct 26, 2017	0.11

Over the past year, PQTPX and RWSIX have become more correlated (0.31) than their long-term average of 0.11, meaning their price movements have been converging.

Return for Risk

PQTPX vs. RWSIX — Risk / Return Rank

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

PQTPX

PQTPX Risk / Return Rank: 73
PQTPX Sharpe Ratio Rank: 76
PQTPX Sortino Ratio Rank: 67
PQTPX Omega Ratio Rank: 72
PQTPX Calmar Ratio Rank: 90
PQTPX Martin Ratio Rank: 63

RWSIX

RWSIX Risk / Return Rank: 28
RWSIX Sharpe Ratio Rank: 27
RWSIX Sortino Ratio Rank: 27
RWSIX Omega Ratio Rank: 26
RWSIX Calmar Ratio Rank: 28
RWSIX Martin Ratio Rank: 31

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.

PQTPX vs. RWSIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO TRENDS Managed Futures Strategy Fund (PQTPX) and Redwood Systematic Macro Trend ("SMarT") Fund (RWSIX). 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.

	PQTPX	RWSIX	Difference
Sharpe ratio: Return per unit of total volatility	2.34	1.39	+0.94
Sortino ratio: Return per unit of downside risk	3.11	2.00	+1.11
Omega ratio: Gain probability vs. loss probability	1.43	1.25	+0.18
Calmar ratio: Return relative to maximum drawdown	4.26	1.85	+2.42
Martin ratio: Return relative to average drawdown	11.63	6.67	+4.96

PQTPX vs. RWSIX - Sharpe Ratio Comparison

The current PQTPX Sharpe Ratio is 2.34, which is higher than the RWSIX Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of PQTPX and RWSIX, 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

PQTPX vs. RWSIX - Drawdown Comparison

The maximum PQTPX drawdown since its inception was -27.86%, which is greater than RWSIX's maximum drawdown of -24.90%. Use the drawdown chart below to compare losses from any high point for PQTPX and RWSIX.

Drawdown Indicators

	PQTPX	RWSIX	Difference
Max Drawdown Largest peak-to-trough decline	-27.86%	-24.90%	-2.96%
Max Drawdown (1Y) Largest decline over 1 year	-4.66%	-8.37%	+3.71%
Max Drawdown (3Y) Largest decline over 3 years	-18.69%	-24.90%	+6.21%
Max Drawdown (5Y) Largest decline over 5 years	-27.86%	-24.90%	-2.96%
Max Drawdown (10Y) Largest decline over 10 years	-27.86%	—	—
Current Drawdown Current decline from peak	-12.05%	-10.09%	-1.96%
Average Drawdown Average peak-to-trough decline	-9.42%	-6.82%	-2.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.70%	2.31%	-0.61%

Volatility

PQTPX vs. RWSIX - Volatility Comparison

The current volatility for PIMCO TRENDS Managed Futures Strategy Fund (PQTPX) is 1.92%, while Redwood Systematic Macro Trend ("SMarT") Fund (RWSIX) has a volatility of 3.86%. This indicates that PQTPX experiences smaller price fluctuations and is considered to be less risky than RWSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PQTPX	RWSIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.92%	3.86%	-1.94%
Volatility (6M) Calculated over the trailing 6-month period	6.78%	8.98%	-2.20%
Volatility (1Y) Calculated over the trailing 1-year period	8.51%	11.11%	-2.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.91%	12.26%	-2.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.38%	12.31%	-2.93%

PQTPX vs. RWSIX - Expense Ratio Comparison

PQTPX has a 1.51% expense ratio, which is higher than RWSIX's 1.30% expense ratio.

Dividends

PQTPX vs. RWSIX - Dividend Comparison

PQTPX's dividend yield for the trailing twelve months is around 1.27%, less than RWSIX's 4.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PQTPX PIMCO TRENDS Managed Futures Strategy Fund	1.27%	0.00%	0.00%	0.00%	14.80%	2.40%	5.63%	2.49%	0.32%	0.20%	0.00%	7.57%
RWSIX Redwood Systematic Macro Trend ("SMarT") Fund	4.17%	4.51%	0.00%	10.35%	3.41%	7.81%	7.78%	3.05%	2.51%	0.63%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PQTPX and RWSIX in my portfolio?

PQTPX and RWSIX have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PQTPX or RWSIX?

RWSIX has higher volatility (3.86%) compared to PQTPX (1.92%). In terms of maximum drawdown, PQTPX dropped -27.86% vs RWSIX's -24.90%.

Which has better risk-adjusted returns?

PQTPX currently has the higher Sharpe Ratio (2.34 vs 1.39), 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.