PWLIX vs. NELIX
PWLIX (PIMCO RAE Worldwide Long/Short PLUS Fund) and NELIX (Nuveen Equity Long/Short Fund) are both Long-Short funds. Over the past 10 years, PWLIX returned 4.57%/yr vs 11.11%/yr for NELIX. At a 0.17 correlation, their price movements are largely independent. PWLIX charges 1.19%/yr vs 1.35%/yr for NELIX.
Performance
PWLIX vs. NELIX - Performance Comparison
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Returns By Period
In the year-to-date period, PWLIX achieves a -0.25% return, which is significantly lower than NELIX's 7.25% return. Over the past 10 years, PWLIX has underperformed NELIX with an annualized return of 4.57%, while NELIX has yielded a comparatively higher 11.11% annualized return.
PWLIX
- 1D
- 1.55%
- 1M
- -2.24%
- YTD
- -0.25%
- 6M
- -2.24%
- 1Y
- 0.78%
- 3Y*
- 4.43%
- 5Y*
- 4.59%
- 10Y*
- 4.57%
NELIX
- 1D
- -1.23%
- 1M
- -0.07%
- YTD
- 7.25%
- 6M
- 6.20%
- 1Y
- 16.32%
- 3Y*
- 17.75%
- 5Y*
- 10.71%
- 10Y*
- 11.11%
PWLIX vs. NELIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PWLIX PIMCO RAE Worldwide Long/Short PLUS Fund | -0.25% | 4.64% | 4.65% | 4.04% | 4.33% | 15.15% | -12.66% | 9.60% | 0.49% | 11.80% |
NELIX Nuveen Equity Long/Short Fund | 7.25% | 11.31% | 20.55% | 24.09% | -14.94% | 32.92% | -0.79% | 6.35% | -2.36% | 19.32% |
Correlation
The correlation between PWLIX and NELIX is -0.32, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2014 | 0.17 |
The correlation between PWLIX and NELIX shifts across timeframes, from -0.32 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PWLIX vs. NELIX — Risk / Return Rank
PWLIX
NELIX
PWLIX vs. NELIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO RAE Worldwide Long/Short PLUS Fund (PWLIX) and Nuveen Equity Long/Short Fund (NELIX). 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.
| PWLIX | NELIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.65 | ||
| Sortino ratioReturn per unit of downside risk | -2.25 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.32 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 0.09 | 2.79 | -2.70 |
| Martin ratioReturn relative to average drawdown | 0.24 | 10.94 | -10.70 |
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Drawdowns
PWLIX vs. NELIX - Drawdown Comparison
The maximum PWLIX drawdown since its inception was -26.92%, smaller than the maximum NELIX drawdown of -28.72%. Use the drawdown chart below to compare losses from any high point for PWLIX and NELIX.
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Drawdown Indicators
| PWLIX | NELIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.92% | -28.72% | +1.80% |
Max Drawdown (1Y)Largest decline over 1 year | -10.30% | -6.31% | -3.99% |
Max Drawdown (3Y)Largest decline over 3 years | -11.74% | -15.50% | +3.76% |
Max Drawdown (5Y)Largest decline over 5 years | -11.74% | -19.30% | +7.56% |
Max Drawdown (10Y)Largest decline over 10 years | -26.92% | -28.72% | +1.80% |
Current DrawdownCurrent decline from peak | -8.91% | -1.23% | -7.68% |
Average DrawdownAverage peak-to-trough decline | -4.20% | -4.68% | +0.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.76% | 1.60% | +2.16% |
Volatility
PWLIX vs. NELIX - Volatility Comparison
PIMCO RAE Worldwide Long/Short PLUS Fund (PWLIX) and Nuveen Equity Long/Short Fund (NELIX) have volatilities of 3.71% and 3.84%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PWLIX | NELIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.71% | 3.84% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 7.15% | 7.97% | -0.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.01% | 10.08% | -1.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.05% | 12.74% | -3.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.05% | 13.64% | -4.59% |
PWLIX vs. NELIX - Expense Ratio Comparison
PWLIX has a 1.19% expense ratio, which is lower than NELIX's 1.35% expense ratio.
Dividends
PWLIX vs. NELIX - Dividend Comparison
PWLIX's dividend yield for the trailing twelve months is around 4.93%, more than NELIX's 3.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NELIX Nuveen Equity Long/Short Fund | 3.55% | 3.81% | 4.78% | 4.20% | 6.84% | 2.44% | 0.00% | 0.00% | 1.35% | 1.58% | 0.00% | 0.00% |
PWLIX PIMCO RAE Worldwide Long/Short PLUS Fund | 4.93% | 6.65% | 4.75% | 5.51% | 14.75% | 11.99% | 7.31% | 6.79% | 0.39% | 10.82% | 4.16% | 3.61% |
Frequently Asked Questions
PWLIX and NELIX 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.
NELIX has higher volatility (3.84%) compared to PWLIX (3.71%). In terms of maximum drawdown, PWLIX dropped -26.92% vs NELIX's -28.72%.
NELIX currently has the higher Sharpe Ratio (1.75 vs 0.10), 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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