PZRMX vs. MKAM
PZRMX (PIMCO Inflation Response Multi-Asset Fund) and MKAM (MKAM ETF) are both Diversified Portfolio funds. Over the past 3 years, PZRMX returned 13.19%/yr vs 9.64%/yr for MKAM. At a 0.36 correlation, their price movements are largely independent. PZRMX charges 1.18%/yr vs 0.96%/yr for MKAM.
Performance
PZRMX vs. MKAM - Performance Comparison
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Returns By Period
In the year-to-date period, PZRMX achieves a 4.89% return, which is significantly higher than MKAM's 3.90% return.
PZRMX
- 1D
- -0.22%
- 1M
- -1.95%
- YTD
- 4.89%
- 6M
- 4.65%
- 1Y
- 13.27%
- 3Y*
- 13.19%
- 5Y*
- 7.68%
- 10Y*
- 7.03%
MKAM
- 1D
- -0.67%
- 1M
- -0.58%
- YTD
- 3.90%
- 6M
- 3.53%
- 1Y
- 12.35%
- 3Y*
- 9.64%
- 5Y*
- —
- 10Y*
- —
PZRMX vs. MKAM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PZRMX PIMCO Inflation Response Multi-Asset Fund | 4.89% | 16.18% | 12.47% | 3.57% |
MKAM MKAM ETF | 3.90% | 8.07% | 12.15% | 7.69% |
Correlation
The correlation between PZRMX and MKAM is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Apr 12, 2023 | 0.36 |
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Return for Risk
PZRMX vs. MKAM — Risk / Return Rank
PZRMX
MKAM
PZRMX vs. MKAM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Inflation Response Multi-Asset Fund (PZRMX) and MKAM ETF (MKAM). 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.
| PZRMX | MKAM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.36 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 4.03 | 3.33 | +0.70 |
| Martin ratioReturn relative to average drawdown | 14.26 | 12.19 | +2.08 |
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Drawdowns
PZRMX vs. MKAM - Drawdown Comparison
The maximum PZRMX drawdown since its inception was -19.71%, which is greater than MKAM's maximum drawdown of -5.01%. Use the drawdown chart below to compare losses from any high point for PZRMX and MKAM.
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Drawdown Indicators
| PZRMX | MKAM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.71% | -5.01% | -14.70% |
Max Drawdown (1Y)Largest decline over 1 year | -3.35% | -3.72% | +0.37% |
Max Drawdown (3Y)Largest decline over 3 years | -4.96% | -5.01% | +0.05% |
Max Drawdown (5Y)Largest decline over 5 years | -14.57% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -18.18% | — | — |
Current DrawdownCurrent decline from peak | -2.95% | -1.52% | -1.43% |
Average DrawdownAverage peak-to-trough decline | -4.58% | -1.13% | -3.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 1.02% | -0.08% |
Volatility
PZRMX vs. MKAM - Volatility Comparison
The current volatility for PIMCO Inflation Response Multi-Asset Fund (PZRMX) is 1.60%, while MKAM ETF (MKAM) has a volatility of 2.40%. This indicates that PZRMX experiences smaller price fluctuations and is considered to be less risky than MKAM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PZRMX | MKAM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.60% | 2.40% | -0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 4.79% | 4.94% | -0.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.05% | 6.41% | -0.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.35% | 6.31% | +2.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.55% | 6.31% | +1.24% |
PZRMX vs. MKAM - Expense Ratio Comparison
PZRMX has a 1.18% expense ratio, which is higher than MKAM's 0.96% expense ratio.
Dividends
PZRMX vs. MKAM - Dividend Comparison
PZRMX's dividend yield for the trailing twelve months is around 8.36%, more than MKAM's 2.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MKAM MKAM ETF | 2.94% | 2.56% | 1.88% | 1.70% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PZRMX PIMCO Inflation Response Multi-Asset Fund | 8.36% | 2.35% | 9.84% | 0.00% | 13.86% | 11.20% | 0.54% | 2.56% | 11.15% | 6.06% | 0.16% | 2.73% |
Frequently Asked Questions
PZRMX and MKAM have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MKAM has higher volatility (2.40%) compared to PZRMX (1.60%). In terms of maximum drawdown, PZRMX dropped -19.71% vs MKAM's -5.01%.
PZRMX currently has the higher Sharpe Ratio (2.24 vs 1.94), 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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