PZRIX vs. AWPAX

Last updated Aug 1, 2026

PZRIX (PIMCO RAE Global ex-US Fund) and AWPAX (AB Sustainable International Thematic Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, PZRIX returned 10.15%/yr vs 5.96%/yr for AWPAX. Their correlation of 0.81 means they have usually moved in the same direction. PZRIX charges 0.00%/yr vs 1.03%/yr for AWPAX.

Performance

PZRIX vs. AWPAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO RAE Global ex-US Fund (PZRIX) and AB Sustainable International Thematic Fund (AWPAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PZRIX achieves a 16.22% return, which is significantly higher than AWPAX's 2.80% return. Over the past 10 years, PZRIX has outperformed AWPAX with an annualized return of 10.15%, while AWPAX has yielded a comparatively lower 5.96% annualized return.

PZRIX

• 1D: 1.39%
• 1M: 5.47%
• 6M: 7.55%
• YTD: 16.22%
• 1Y: 32.46%
• 3Y*: 18.36%
• 5Y*: 11.46%
• 10Y*: 10.15%
• ALL TIME*: 10.41%

AWPAX

• 1D: 3.09%
• 1M: -1.21%
• 6M: -0.68%
• YTD: 2.80%
• 1Y: 6.33%
• 3Y*: 5.43%
• 5Y*: -0.06%
• 10Y*: 5.96%
• ALL TIME*: 6.19%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AWPAX AB Sustainable International Thematic Fund	$0.00	$0.00	$0.00
PZRIX PIMCO RAE Global ex-US Fund	$0.00	$0.00	$0.00

PZRIX vs. AWPAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PZRIX PIMCO RAE Global ex-US Fund	16.22%	34.05%	3.29%	19.31%	-9.11%	12.08%	1.74%	15.94%	-14.93%	26.00%
AWPAX AB Sustainable International Thematic Fund	2.80%	13.57%	-0.32%	13.09%	-26.80%	9.20%	29.55%	26.88%	-17.50%	34.46%

Correlation

The correlation between PZRIX and AWPAX is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.71
Correlation (3Y) Balances recent behavior with more history.	0.77
Correlation (5Y) Shows whether the relationship held over a longer period.	0.80
Correlation (10Y) Provides a long-term view across more market conditions.	0.81
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.81

The correlation between PZRIX and AWPAX shifts across timeframes, from 0.71 (1 year) to 0.81 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PZRIX vs. AWPAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PZRIX

PZRIX Risk / Return Rank: 92
PZRIX Sharpe Ratio Rank: 96
PZRIX Sortino Ratio Rank: 92
PZRIX Omega Ratio Rank: 89
PZRIX Calmar Ratio Rank: 94
PZRIX Martin Ratio Rank: 89

AWPAX

AWPAX Risk / Return Rank: 9
AWPAX Sharpe Ratio Rank: 8
AWPAX Sortino Ratio Rank: 8
AWPAX Omega Ratio Rank: 8
AWPAX Calmar Ratio Rank: 9
AWPAX Martin Ratio Rank: 10

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PZRIX vs. AWPAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO RAE Global ex-US Fund (PZRIX) and AB Sustainable International Thematic Fund (AWPAX). 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.

	PZRIX	AWPAX	Difference
Sharpe ratio: Return per unit of total volatility	2.66	0.26	+2.40
Sortino ratio: Return per unit of downside risk	3.62	0.50	+3.12
Omega ratio: Gain probability vs. loss probability	1.48	1.06	+0.42
Calmar ratio: Return relative to maximum drawdown	3.88	0.36	+3.53
Martin ratio: Return relative to average drawdown	11.77	1.23	+10.54

PZRIX vs. AWPAX - Sharpe Ratio Comparison

The current PZRIX Sharpe Ratio is 2.66, which is higher than the AWPAX Sharpe Ratio of 0.26. The chart below compares the historical Sharpe Ratios of PZRIX and AWPAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PZRIX vs. AWPAX - Drawdown Comparison

The maximum PZRIX drawdown since its inception was -43.53%, smaller than the maximum AWPAX drawdown of -63.00%. Use the drawdown chart below to compare losses from any high point for PZRIX and AWPAX.

Drawdown Indicators

	PZRIX	AWPAX	Difference
Max Drawdown Largest peak-to-trough decline	-43.53%	-63.00%	+19.47%
Max Drawdown (1Y) Largest decline over 1 year	-8.18%	-13.44%	+5.26%
Max Drawdown (3Y) Largest decline over 3 years	-13.81%	-19.47%	+5.66%
Max Drawdown (5Y) Largest decline over 5 years	-30.85%	-38.13%	+7.28%
Max Drawdown (10Y) Largest decline over 10 years	-43.53%	-38.13%	-5.40%
Current Drawdown Current decline from peak	0.00%	-6.15%	+6.15%
Average Drawdown Average peak-to-trough decline	-8.80%	-18.71%	+9.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.69%	3.88%	-1.19%

Volatility

PZRIX vs. AWPAX - Volatility Comparison

The current volatility for PIMCO RAE Global ex-US Fund (PZRIX) is 3.43%, while AB Sustainable International Thematic Fund (AWPAX) has a volatility of 6.05%. This indicates that PZRIX experiences smaller price fluctuations and is considered to be less risky than AWPAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PZRIX	AWPAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.43%	6.05%	-2.62%
Volatility (6M) Calculated over the trailing 6-month period	9.65%	16.33%	-6.68%
Volatility (1Y) Calculated over the trailing 1-year period	11.98%	18.32%	-6.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.73%	17.74%	-2.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.64%	16.77%	-0.13%

PZRIX vs. AWPAX - Expense Ratio Comparison

PZRIX has a 0.00% expense ratio, which is lower than AWPAX's 1.03% expense ratio.

Dividends

PZRIX vs. AWPAX - Dividend Comparison

PZRIX's dividend yield for the trailing twelve months is around 5.64%, while AWPAX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
AWPAX AB Sustainable International Thematic Fund	0.00%	0.00%	0.00%	0.00%	0.52%	7.00%	1.67%	1.11%	14.44%	0.00%	0.77%
PZRIX PIMCO RAE Global ex-US Fund	5.64%	6.56%	6.70%	9.19%	8.80%	11.99%	2.04%	6.32%	2.80%	4.13%	2.58%

Frequently Asked Questions

Can I hold both PZRIX and AWPAX in my portfolio?

PZRIX and AWPAX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PZRIX or AWPAX?

AWPAX has higher volatility (6.05%) compared to PZRIX (3.43%). In terms of maximum drawdown, PZRIX dropped -43.53% vs AWPAX's -63.00%.

Which has better risk-adjusted returns?

PZRIX currently has the higher Sharpe Ratio (2.66 vs 0.26), 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.