PTY vs. FBAPX
PTY (PIMCO Corporate & Income Opportunity Fund) and FBAPX (Fidelity Tactical Bond Fund) are both mutual funds - PTY is a Corporate Bonds fund managed by PIMCO, while FBAPX is a Multisector Bonds fund managed by Fidelity. Over the past 3 years, PTY returned 5.46%/yr vs 4.48%/yr for FBAPX. At a 0.31 correlation, their price movements are largely independent. PTY charges 1.19%/yr vs 0.66%/yr for FBAPX.
Performance
PTY vs. FBAPX - Performance Comparison
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Returns By Period
In the year-to-date period, PTY achieves a -3.45% return, which is significantly lower than FBAPX's 0.75% return.
PTY
- 1D
- 0.60%
- 1M
- 0.76%
- YTD
- -3.45%
- 6M
- -2.62%
- 1Y
- -3.79%
- 3Y*
- 5.46%
- 5Y*
- -0.17%
- 10Y*
- 8.56%
FBAPX
- 1D
- -0.34%
- 1M
- 0.74%
- YTD
- 0.75%
- 6M
- 1.11%
- 1Y
- 5.15%
- 3Y*
- 4.48%
- 5Y*
- —
- 10Y*
- —
PTY vs. FBAPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PTY PIMCO Corporate & Income Opportunity Fund | -3.45% | -0.51% | 19.87% | 22.56% | -11.96% |
FBAPX Fidelity Tactical Bond Fund | 0.75% | 7.77% | 1.57% | 6.73% | -9.94% |
Correlation
The correlation between PTY and FBAPX is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 2022 | 0.31 |
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Return for Risk
PTY vs. FBAPX — Risk / Return Rank
PTY
FBAPX
PTY vs. FBAPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Corporate & Income Opportunity Fund (PTY) and Fidelity Tactical Bond Fund (FBAPX). 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.
| PTY | FBAPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.70 | ||
| Sortino ratioReturn per unit of downside risk | -2.43 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.24 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.25 | 1.91 | -2.16 |
| Martin ratioReturn relative to average drawdown | -0.47 | 5.50 | -5.97 |
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Drawdowns
PTY vs. FBAPX - Drawdown Comparison
The maximum PTY drawdown since its inception was -60.86%, which is greater than FBAPX's maximum drawdown of -14.34%. Use the drawdown chart below to compare losses from any high point for PTY and FBAPX.
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Drawdown Indicators
| PTY | FBAPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.86% | -14.34% | -46.52% |
Max Drawdown (1Y)Largest decline over 1 year | -15.44% | -2.77% | -12.67% |
Max Drawdown (3Y)Largest decline over 3 years | -16.04% | -6.04% | -10.00% |
Max Drawdown (5Y)Largest decline over 5 years | -41.38% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -46.55% | — | — |
Current DrawdownCurrent decline from peak | -12.37% | -1.23% | -11.14% |
Average DrawdownAverage peak-to-trough decline | -8.62% | -4.91% | -3.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.11% | 0.96% | +7.15% |
Volatility
PTY vs. FBAPX - Volatility Comparison
PIMCO Corporate & Income Opportunity Fund (PTY) has a higher volatility of 1.99% compared to Fidelity Tactical Bond Fund (FBAPX) at 1.11%. This indicates that PTY's price experiences larger fluctuations and is considered to be riskier than FBAPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PTY | FBAPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.99% | 1.11% | +0.88% |
Volatility (6M)Calculated over the trailing 6-month period | 7.66% | 2.87% | +4.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.92% | 3.92% | +7.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.27% | 5.66% | +11.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.19% | 5.66% | +15.53% |
PTY vs. FBAPX - Expense Ratio Comparison
PTY has a 1.19% expense ratio, which is higher than FBAPX's 0.66% expense ratio.
Dividends
PTY vs. FBAPX - Dividend Comparison
PTY's dividend yield for the trailing twelve months is around 12.12%, more than FBAPX's 4.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBAPX Fidelity Tactical Bond Fund | 4.72% | 4.61% | 4.81% | 4.08% | 3.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PTY PIMCO Corporate & Income Opportunity Fund | 12.12% | 11.05% | 9.92% | 10.77% | 13.12% | 9.16% | 8.74% | 8.37% | 10.63% | 9.48% | 12.09% | 11.92% |
Frequently Asked Questions
PTY and FBAPX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PTY has higher volatility (1.99%) compared to FBAPX (1.11%). In terms of maximum drawdown, PTY dropped -60.86% vs FBAPX's -14.34%.
FBAPX currently has the higher Sharpe Ratio (1.35 vs -0.35), 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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