PWLIX vs. SPEDX
PWLIX (PIMCO RAE Worldwide Long/Short PLUS Fund) and SPEDX (Alger Dynamic Opportunities Fund) are both Long-Short funds. Over the past 10 years, PWLIX returned 4.88%/yr vs 8.36%/yr for SPEDX. Their 0.00 correlation means their historical movements had little consistent relationship. PWLIX charges 1.19%/yr vs 0.91%/yr for SPEDX.
Performance
PWLIX vs. SPEDX - 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 SPEDX's 2.30% return. Over the past 10 years, PWLIX has underperformed SPEDX with an annualized return of 4.88%, while SPEDX has yielded a comparatively higher 8.36% 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%
SPEDX
- 1D
- 2.39%
- 1M
- -3.98%
- 6M
- 4.32%
- YTD
- 2.30%
- 1Y
- 2.95%
- 3Y*
- 11.83%
- 5Y*
- 2.87%
- 10Y*
- 8.36%
- ALL TIME*
- 6.13%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PWLIX vs. SPEDX - 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% |
SPEDX Alger Dynamic Opportunities Fund | 2.30% | 6.22% | 23.03% | 4.24% | -13.90% | 3.96% | 47.30% | 12.79% | -2.32% | 9.46% |
Correlation
The correlation between PWLIX and SPEDX is -0.53, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.53 |
Correlation (3Y) Balances recent behavior with more history. | -0.30 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.19 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.06 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2014 | 0.00 |
The correlation between PWLIX and SPEDX shifts across timeframes, from -0.53 (1 year) to 0.00 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PWLIX vs. SPEDX — Risk / Return Rank
PWLIX
SPEDX
PWLIX vs. SPEDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO RAE Worldwide Long/Short PLUS Fund (PWLIX) and Alger Dynamic Opportunities Fund (SPEDX). 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 | SPEDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.69 | ||
| Sortino ratioReturn per unit of downside risk | +1.03 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.04 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | 0.23 | +0.61 |
| Martin ratioReturn relative to average drawdown | 1.99 | 0.58 | +1.40 |
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Drawdowns
PWLIX vs. SPEDX - Drawdown Comparison
The maximum PWLIX drawdown since its inception was -26.92%, smaller than the maximum SPEDX drawdown of -29.02%. Use the drawdown chart below to compare losses from any high point for PWLIX and SPEDX.
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Drawdown Indicators
| PWLIX | SPEDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.92% | -29.02% | +2.10% |
Max Drawdown (1Y)Largest decline over 1 year | -10.30% | -9.18% | -1.12% |
Max Drawdown (3Y)Largest decline over 3 years | -11.74% | -13.23% | +1.49% |
Max Drawdown (5Y)Largest decline over 5 years | -11.74% | -29.02% | +17.28% |
Max Drawdown (10Y)Largest decline over 10 years | -26.92% | -29.02% | +2.10% |
Current DrawdownCurrent decline from peak | -1.84% | -6.78% | +4.94% |
Average DrawdownAverage peak-to-trough decline | -4.22% | -6.91% | +2.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.35% | 3.63% | +0.72% |
Volatility
PWLIX vs. SPEDX - Volatility Comparison
PIMCO RAE Worldwide Long/Short PLUS Fund (PWLIX) and Alger Dynamic Opportunities Fund (SPEDX) have volatilities of 4.64% and 4.56%, 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 | SPEDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.64% | 4.56% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 8.36% | 10.33% | -1.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.13% | 12.78% | -2.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.32% | 12.17% | -2.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.15% | 12.99% | -3.84% |
PWLIX vs. SPEDX - Expense Ratio Comparison
PWLIX has a 1.19% expense ratio, which is higher than SPEDX's 0.91% expense ratio.
Dividends
PWLIX vs. SPEDX - Dividend Comparison
PWLIX's dividend yield for the trailing twelve months is around 4.58%, more than SPEDX's 0.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SPEDX Alger Dynamic Opportunities Fund | 0.09% | 0.09% | 0.00% | 0.00% | 0.00% | 5.69% | 4.94% | 3.75% | 1.92% | 0.00% | 0.32% | 0.00% |
Frequently Asked Questions
PWLIX and SPEDX have a correlation of -0.53, 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 SPEDX (4.56%). In terms of maximum drawdown, PWLIX dropped -26.92% vs SPEDX's -29.02%.
PWLIX currently has the higher Sharpe Ratio (0.86 vs 0.17), 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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