PWLIX vs. PTY
PWLIX (PIMCO RAE Worldwide Long/Short PLUS Fund) and PTY (PIMCO Corporate & Income Opportunity Fund) are both mutual funds - PWLIX is a Long-Short fund managed by PIMCO, while PTY is a Corporate Bonds fund managed by PIMCO. Over the past 10 years, PWLIX returned 4.88%/yr vs 8.05%/yr for PTY. Their 0.15 correlation means their historical movements had little consistent relationship. Both charge a 1.19% expense ratio.
Performance
PWLIX vs. PTY - Performance Comparison
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Returns By Period
In the year-to-date period, PWLIX achieves a 7.50% return, which is significantly higher than PTY's -2.91% return. Over the past 10 years, PWLIX has underperformed PTY with an annualized return of 4.88%, while PTY has yielded a comparatively higher 8.05% annualized return.
PWLIX
- 1D
- -1.02%
- 1M
- 6.29%
- 6M
- 4.38%
- YTD
- 7.50%
- 1Y
- 7.60%
- 3Y*
- 6.70%
- 5Y*
- 5.92%
- 10Y*
- 4.88%
- ALL TIME*
- 4.63%
PTY
- 1D
- -0.26%
- 1M
- -2.10%
- 6M
- -4.67%
- YTD
- -2.91%
- 1Y
- -6.48%
- 3Y*
- 3.48%
- 5Y*
- -0.85%
- 10Y*
- 8.05%
- ALL TIME*
- 10.76%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.02M | $11.88M | $12.18M | |
| $0.00 | $0.00 | $0.00 |
PWLIX vs. PTY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PWLIX PIMCO RAE Worldwide Long/Short PLUS Fund | 7.50% | 4.64% | 4.65% | 4.04% | 4.33% | 15.15% | -12.66% | 9.60% | 0.49% | 11.80% |
PTY PIMCO Corporate & Income Opportunity Fund | -2.91% | -0.51% | 19.87% | 22.56% | -18.71% | 0.40% | 3.24% | 35.36% | 2.49% | 26.63% |
Correlation
The correlation between PWLIX and PTY is -0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.06 |
Correlation (3Y) Balances recent behavior with more history. | 0.06 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.05 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.13 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2014 | 0.15 |
The correlation between PWLIX and PTY shifts across timeframes, from -0.06 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PWLIX vs. PTY — Risk / Return Rank
PWLIX
PTY
PWLIX vs. PTY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO RAE Worldwide Long/Short PLUS Fund (PWLIX) and PIMCO Corporate & Income Opportunity Fund (PTY). 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 | PTY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.41 | ||
| Sortino ratioReturn per unit of downside risk | +2.05 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 0.90 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | -0.40 | +1.25 |
| Martin ratioReturn relative to average drawdown | 1.99 | -0.70 | +2.69 |
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Drawdowns
PWLIX vs. PTY - Drawdown Comparison
The maximum PWLIX drawdown since its inception was -26.92%, smaller than the maximum PTY drawdown of -60.86%. Use the drawdown chart below to compare losses from any high point for PWLIX and PTY.
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Drawdown Indicators
| PWLIX | PTY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.92% | -60.86% | +33.94% |
Max Drawdown (1Y)Largest decline over 1 year | -10.30% | -15.44% | +5.14% |
Max Drawdown (3Y)Largest decline over 3 years | -11.74% | -15.53% | +3.79% |
Max Drawdown (5Y)Largest decline over 5 years | -11.74% | -41.38% | +29.64% |
Max Drawdown (10Y)Largest decline over 10 years | -26.92% | -46.55% | +19.63% |
Current DrawdownCurrent decline from peak | -1.84% | -11.88% | +10.04% |
Average DrawdownAverage peak-to-trough decline | -4.22% | -8.63% | +4.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.35% | 8.89% | -4.54% |
Volatility
PWLIX vs. PTY - Volatility Comparison
PIMCO RAE Worldwide Long/Short PLUS Fund (PWLIX) has a higher volatility of 4.64% compared to PIMCO Corporate & Income Opportunity Fund (PTY) at 2.54%. This indicates that PWLIX's price experiences larger fluctuations and is considered to be riskier than PTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PWLIX | PTY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.64% | 2.54% | +2.10% |
Volatility (6M)Calculated over the trailing 6-month period | 8.36% | 7.87% | +0.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.13% | 11.25% | -1.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.32% | 17.24% | -7.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.15% | 21.18% | -12.03% |
PWLIX vs. PTY - Expense Ratio Comparison
Both PWLIX and PTY have an expense ratio of 1.19%.
Dividends
PWLIX vs. PTY - Dividend Comparison
PWLIX's dividend yield for the trailing twelve months is around 4.58%, less than PTY's 12.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PTY PIMCO Corporate & Income Opportunity Fund | 12.17% | 11.05% | 9.92% | 10.77% | 13.12% | 9.16% | 8.74% | 8.37% | 10.63% | 9.48% | 12.09% | 11.92% |
PWLIX PIMCO RAE Worldwide Long/Short PLUS Fund | 4.58% | 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 PTY have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PWLIX has higher volatility (4.64%) compared to PTY (2.54%). In terms of maximum drawdown, PWLIX dropped -26.92% vs PTY's -60.86%.
PWLIX currently has the higher Sharpe Ratio (0.86 vs -0.55), 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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