PRRIX vs. BHYIX
PRRIX (PIMCO Real Return Fund) and BHYIX (BlackRock High Yield Bond Portfolio Institutional Shares) are both mutual funds - PRRIX is a Inflation-Protected Bonds fund managed by PIMCO, while BHYIX is a High Yield Bonds fund managed by BlackRock. Over the past 10 years, PRRIX returned 2.52%/yr vs 5.57%/yr for BHYIX. Their 0.15 correlation means their historical movements had little consistent relationship. PRRIX charges 0.45%/yr vs 0.59%/yr for BHYIX.
Performance
PRRIX vs. BHYIX - Performance Comparison
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Returns By Period
In the year-to-date period, PRRIX achieves a -0.21% return, which is significantly lower than BHYIX's 1.31% return. Over the past 10 years, PRRIX has underperformed BHYIX with an annualized return of 2.52%, while BHYIX has yielded a comparatively higher 5.57% annualized return.
PRRIX
- 1D
- 0.00%
- 1M
- -1.18%
- 6M
- -0.57%
- YTD
- -0.21%
- 1Y
- 1.72%
- 3Y*
- 3.95%
- 5Y*
- 0.09%
- 10Y*
- 2.52%
- ALL TIME*
- 4.95%
BHYIX
- 1D
- 0.14%
- 1M
- -0.84%
- 6M
- 0.89%
- YTD
- 1.31%
- 1Y
- 5.16%
- 3Y*
- 8.44%
- 5Y*
- 4.04%
- 10Y*
- 5.57%
- ALL TIME*
- 6.69%
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 |
PRRIX vs. BHYIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRRIX PIMCO Real Return Fund | -0.21% | 8.19% | 2.60% | 3.29% | -13.27% | 5.70% | 12.11% | 8.53% | -1.96% | 4.22% |
BHYIX BlackRock High Yield Bond Portfolio Institutional Shares | 1.31% | 9.18% | 8.55% | 13.19% | -11.24% | 5.53% | 5.87% | 15.35% | -2.81% | 8.23% |
Correlation
The correlation between PRRIX and BHYIX is 0.51, 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. | 0.51 |
Correlation (3Y) Balances recent behavior with more history. | 0.49 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.43 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.29 |
Correlation (All Time) Calculated using the full available price history since Nov 18, 1998 | 0.15 |
Over the past year, PRRIX and BHYIX have become more correlated (0.51) than their long-term average of 0.15, meaning their price movements have been converging.
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Return for Risk
PRRIX vs. BHYIX — Risk / Return Rank
PRRIX
BHYIX
PRRIX vs. BHYIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Real Return Fund (PRRIX) and BlackRock High Yield Bond Portfolio Institutional Shares (BHYIX). 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.
| PRRIX | BHYIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.03 | ||
| Sortino ratioReturn per unit of downside risk | -1.90 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.36 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.91 | 2.35 | -1.43 |
| Martin ratioReturn relative to average drawdown | 2.72 | 11.01 | -8.29 |
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Drawdowns
PRRIX vs. BHYIX - Drawdown Comparison
The maximum PRRIX drawdown since its inception was -19.25%, smaller than the maximum BHYIX drawdown of -34.82%. Use the drawdown chart below to compare losses from any high point for PRRIX and BHYIX.
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Drawdown Indicators
| PRRIX | BHYIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.25% | -34.82% | +15.57% |
Max Drawdown (1Y)Largest decline over 1 year | -2.66% | -2.41% | -0.25% |
Max Drawdown (3Y)Largest decline over 3 years | -4.07% | -4.07% | 0.00% |
Max Drawdown (5Y)Largest decline over 5 years | -15.76% | -15.45% | -0.31% |
Max Drawdown (10Y)Largest decline over 10 years | -15.76% | -23.23% | +7.47% |
Current DrawdownCurrent decline from peak | -1.85% | -0.84% | -1.01% |
Average DrawdownAverage peak-to-trough decline | -3.16% | -2.74% | -0.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 0.51% | +0.38% |
Volatility
PRRIX vs. BHYIX - Volatility Comparison
PIMCO Real Return Fund (PRRIX) has a higher volatility of 0.84% compared to BlackRock High Yield Bond Portfolio Institutional Shares (BHYIX) at 0.64%. This indicates that PRRIX's price experiences larger fluctuations and is considered to be riskier than BHYIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRRIX | BHYIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.84% | 0.64% | +0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 3.14% | 2.68% | +0.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.94% | 3.42% | +0.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.26% | 5.24% | +1.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.64% | 5.87% | -0.23% |
PRRIX vs. BHYIX - Expense Ratio Comparison
PRRIX has a 0.45% expense ratio, which is lower than BHYIX's 0.59% expense ratio.
Dividends
PRRIX vs. BHYIX - Dividend Comparison
PRRIX's dividend yield for the trailing twelve months is around 4.47%, less than BHYIX's 6.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BHYIX BlackRock High Yield Bond Portfolio Institutional Shares | 6.52% | 7.05% | 7.46% | 6.15% | 4.91% | 4.73% | 5.12% | 5.70% | 6.33% | 5.82% | 5.96% | 6.33% |
PRRIX PIMCO Real Return Fund | 4.47% | 3.92% | 3.17% | 2.83% | 7.38% | 5.12% | 2.62% | 1.91% | 2.70% | 2.57% | 1.10% | 0.99% |
Frequently Asked Questions
PRRIX and BHYIX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRRIX has higher volatility (0.84%) compared to BHYIX (0.64%). In terms of maximum drawdown, PRRIX dropped -19.25% vs BHYIX's -34.82%.
BHYIX currently has the higher Sharpe Ratio (1.65 vs 0.62), 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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