PTSAX vs. MCFIX

Last updated Aug 5, 2026

PTSAX (PIMCO Total Return ESG Fund) and MCFIX (Mercer Core Fixed Income Fund) are both Intermediate Core-Plus Bond funds. Over the past 5 years, PTSAX returned -0.74%/yr vs -0.80%/yr for MCFIX. Their correlation of 0.89 means they have usually moved in the same direction. PTSAX charges 0.51%/yr vs 0.16%/yr for MCFIX.

Performance

PTSAX vs. MCFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Total Return ESG Fund (PTSAX) and Mercer Core Fixed Income Fund (MCFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PTSAX achieves a -0.55% return, which is significantly higher than MCFIX's -2.55% return.

PTSAX

• 1D: 0.39%
• 1M: -1.41%
• 6M: -0.85%
• YTD: -0.55%
• 1Y: 2.52%
• 3Y*: 4.75%
• 5Y*: -0.74%
• 10Y*: 1.59%
• ALL TIME*: 5.06%

MCFIX

• 1D: 0.11%
• 1M: -1.36%
• 6M: -2.23%
• YTD: -2.55%
• 1Y: -0.95%
• 3Y*: 3.49%
• 5Y*: -0.80%
• 10Y*: —
• ALL TIME*: 0.58%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MCFIX Mercer Core Fixed Income Fund	$0.00	$0.00	$0.00
PTSAX PIMCO Total Return ESG Fund	$0.00	$0.00	$0.00

PTSAX vs. MCFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
PTSAX PIMCO Total Return ESG Fund	-0.55%	8.56%	2.31%	5.50%	-16.17%	-1.07%	8.98%	5.94%
MCFIX Mercer Core Fixed Income Fund	-2.55%	6.64%	2.02%	6.47%	-13.69%	-1.05%	4.75%	3.31%

Correlation

The correlation between PTSAX and MCFIX is 0.88, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.88
Correlation (3Y) Balances recent behavior with more history.	0.90
Correlation (5Y) Shows whether the relationship held over a longer period.	0.93
Correlation (All Time) Calculated using the full available price history since Apr 12, 2019	0.89

The correlation between PTSAX and MCFIX has been stable across timeframes, ranging from 0.88 to 0.93 - a consistent structural relationship.

Return for Risk

PTSAX vs. MCFIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PTSAX

PTSAX Risk / Return Rank: 13
PTSAX Sharpe Ratio Rank: 14
PTSAX Sortino Ratio Rank: 13
PTSAX Omega Ratio Rank: 13
PTSAX Calmar Ratio Rank: 13
PTSAX Martin Ratio Rank: 12

MCFIX

MCFIX Risk / Return Rank: 3
MCFIX Sharpe Ratio Rank: 3
MCFIX Sortino Ratio Rank: 3
MCFIX Omega Ratio Rank: 3
MCFIX Calmar Ratio Rank: 3
MCFIX Martin Ratio Rank: 3

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PTSAX vs. MCFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Total Return ESG Fund (PTSAX) and Mercer Core Fixed Income Fund (MCFIX). 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.

	PTSAX	MCFIX	Difference
Sharpe ratio: Return per unit of total volatility	0.63	-0.02	+0.65
Sortino ratio: Return per unit of downside risk	0.91	-0.00	+0.91
Omega ratio: Gain probability vs. loss probability	1.11	1.00	+0.11
Calmar ratio: Return relative to maximum drawdown	0.74	-0.02	+0.76
Martin ratio: Return relative to average drawdown	1.85	-0.05	+1.90

PTSAX vs. MCFIX - Sharpe Ratio Comparison

The current PTSAX Sharpe Ratio is 0.63, which is higher than the MCFIX Sharpe Ratio of -0.02. The chart below compares the historical Sharpe Ratios of PTSAX and MCFIX, 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

PTSAX vs. MCFIX - Drawdown Comparison

The maximum PTSAX drawdown since its inception was -21.12%, roughly equal to the maximum MCFIX drawdown of -21.68%. Use the drawdown chart below to compare losses from any high point for PTSAX and MCFIX.

Drawdown Indicators

	PTSAX	MCFIX	Difference
Max Drawdown Largest peak-to-trough decline	-21.12%	-21.68%	+0.56%
Max Drawdown (1Y) Largest decline over 1 year	-3.63%	-4.08%	+0.45%
Max Drawdown (3Y) Largest decline over 3 years	-5.36%	-5.27%	-0.09%
Max Drawdown (5Y) Largest decline over 5 years	-21.09%	-18.64%	-2.45%
Max Drawdown (10Y) Largest decline over 10 years	-21.12%	—	—
Current Drawdown Current decline from peak	-3.64%	-7.46%	+3.82%
Average Drawdown Average peak-to-trough decline	-2.47%	-8.49%	+6.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.44%	1.76%	-0.32%

Volatility

PTSAX vs. MCFIX - Volatility Comparison

PIMCO Total Return ESG Fund (PTSAX) has a higher volatility of 1.31% compared to Mercer Core Fixed Income Fund (MCFIX) at 1.05%. This indicates that PTSAX's price experiences larger fluctuations and is considered to be riskier than MCFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PTSAX	MCFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.31%	1.05%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	3.64%	2.94%	+0.70%
Volatility (1Y) Calculated over the trailing 1-year period	4.26%	4.01%	+0.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.14%	6.05%	+0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.10%	6.07%	-0.97%

PTSAX vs. MCFIX - Expense Ratio Comparison

PTSAX has a 0.51% expense ratio, which is higher than MCFIX's 0.16% expense ratio.

Dividends

PTSAX vs. MCFIX - Dividend Comparison

PTSAX's dividend yield for the trailing twelve months is around 3.73%, less than MCFIX's 4.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MCFIX Mercer Core Fixed Income Fund	4.38%	3.89%	4.54%	3.68%	3.31%	2.45%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PTSAX PIMCO Total Return ESG Fund	3.73%	3.87%	3.89%	3.32%	3.68%	2.96%	4.60%	3.48%	2.56%	2.03%	2.96%	4.71%

Frequently Asked Questions

Can I hold both PTSAX and MCFIX in my portfolio?

PTSAX and MCFIX 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.

Which is riskier, PTSAX or MCFIX?

PTSAX has higher volatility (1.31%) compared to MCFIX (1.05%). In terms of maximum drawdown, PTSAX dropped -21.12% vs MCFIX's -21.68%.

Which has better risk-adjusted returns?

PTSAX currently has the higher Sharpe Ratio (0.63 vs -0.02), 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.