PWLIX vs. BIVRX
Compare and contrast key facts about PIMCO RAE Worldwide Long/Short PLUS Fund (PWLIX) and Invenomic Fund (BIVRX).
PWLIX is managed by PIMCO. It was launched on Dec 3, 2014. BIVRX is managed by Invenomic. It was launched on Jun 18, 2017.
Performance
PWLIX vs. BIVRX - Performance Comparison
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PWLIX vs. BIVRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PWLIX PIMCO RAE Worldwide Long/Short PLUS Fund | 9.51% | 4.64% | 4.65% | 4.04% | 4.33% | 15.15% | -12.66% | 9.60% | 0.49% | 6.94% |
BIVRX Invenomic Fund | 5.94% | 4.39% | -9.03% | 16.47% | 49.61% | 44.06% | 11.12% | 11.36% | 3.41% | 8.73% |
Returns By Period
In the year-to-date period, PWLIX achieves a 9.51% return, which is significantly higher than BIVRX's 5.94% return.
PWLIX
- 1D
- 1.13%
- 1M
- 0.50%
- YTD
- 9.51%
- 6M
- 8.92%
- 1Y
- 6.36%
- 3Y*
- 8.08%
- 5Y*
- 7.13%
- 10Y*
- 5.83%
BIVRX
- 1D
- 3.43%
- 1M
- 2.62%
- YTD
- 5.94%
- 6M
- 11.17%
- 1Y
- 6.87%
- 3Y*
- 1.70%
- 5Y*
- 13.81%
- 10Y*
- —
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PWLIX vs. BIVRX - Expense Ratio Comparison
PWLIX has a 1.19% expense ratio, which is lower than BIVRX's 2.48% expense ratio.
Return for Risk
PWLIX vs. BIVRX — Risk / Return Rank
PWLIX
BIVRX
PWLIX vs. BIVRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO RAE Worldwide Long/Short PLUS Fund (PWLIX) and Invenomic Fund (BIVRX). 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.
| PWLIX | BIVRX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.79 | 0.32 | +0.47 |
Sortino ratioReturn per unit of downside risk | 1.14 | 0.65 | +0.49 |
Omega ratioGain probability vs. loss probability | 1.15 | 1.07 | +0.08 |
Calmar ratioReturn relative to maximum drawdown | 1.38 | 0.41 | +0.96 |
Martin ratioReturn relative to average drawdown | 2.63 | 0.93 | +1.70 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PWLIX | BIVRX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.79 | 0.32 | +0.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.81 | 0.82 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.65 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.91 | -0.37 |
Correlation
The correlation between PWLIX and BIVRX is 0.34, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
PWLIX vs. BIVRX - Dividend Comparison
PWLIX's dividend yield for the trailing twelve months is around 6.07%, more than BIVRX's 1.82% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PWLIX PIMCO RAE Worldwide Long/Short PLUS Fund | 6.07% | 6.65% | 4.75% | 5.51% | 14.75% | 11.99% | 7.31% | 6.79% | 0.39% | 10.82% | 4.16% | 3.61% |
BIVRX Invenomic Fund | 1.82% | 1.93% | 3.55% | 20.26% | 28.43% | 3.00% | 3.11% | 3.21% | 4.82% | 1.21% | 0.00% | 0.00% |
Drawdowns
PWLIX vs. BIVRX - Drawdown Comparison
The maximum PWLIX drawdown since its inception was -26.92%, which is greater than BIVRX's maximum drawdown of -18.29%. Use the drawdown chart below to compare losses from any high point for PWLIX and BIVRX.
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Drawdown Indicators
| PWLIX | BIVRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.92% | -18.29% | -8.63% |
Max Drawdown (1Y)Largest decline over 1 year | -5.79% | -13.79% | +8.00% |
Max Drawdown (5Y)Largest decline over 5 years | -11.74% | -17.66% | +5.92% |
Max Drawdown (10Y)Largest decline over 10 years | -26.92% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.19% | +1.19% |
Average DrawdownAverage peak-to-trough decline | -4.16% | -5.91% | +1.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.03% | 6.14% | -3.11% |
Volatility
PWLIX vs. BIVRX - Volatility Comparison
The current volatility for PIMCO RAE Worldwide Long/Short PLUS Fund (PWLIX) is 2.39%, while Invenomic Fund (BIVRX) has a volatility of 7.61%. This indicates that PWLIX experiences smaller price fluctuations and is considered to be less risky than BIVRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PWLIX | BIVRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.39% | 7.61% | -5.22% |
Volatility (6M)Calculated over the trailing 6-month period | 6.03% | 16.65% | -10.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.04% | 20.73% | -11.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.86% | 16.96% | -8.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.94% | 17.09% | -8.15% |