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RFXIX vs. PFN
Performance
Return for Risk
Drawdowns
Volatility
Dividends

RFXIX vs. PFN

Last updated Jun 24, 2026

RFXIX (Rational Special Situations Income Fund) and PFN (PIMCO Income Strategy Fund II) are both Multisector Bonds funds. Over the past 5 years, RFXIX returned 4.21%/yr vs 1.62%/yr for PFN. At a 0.13 correlation, their price movements are largely independent. RFXIX charges 1.76%/yr vs 1.74%/yr for PFN.

Performance

RFXIX vs. PFN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rational Special Situations Income Fund (RFXIX) and PIMCO Income Strategy Fund II (PFN). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, RFXIX achieves a 1.90% return, which is significantly higher than PFN's -3.70% return.

RFXIX

1D
0.00%
1M
0.40%
YTD
1.90%
6M
1.76%
1Y
4.82%
3Y*
5.75%
5Y*
4.21%
10Y*
—

PFN

1D
0.29%
1M
0.33%
YTD
-3.70%
6M
-2.79%
1Y
5.34%
3Y*
10.39%
5Y*
1.62%
10Y*
7.87%
*Multi-year figures are annualized to reflect compound growth (CAGR)

RFXIX vs. PFN - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
RFXIX
Rational Special Situations Income Fund		1.90%4.73%8.95%4.08%-0.85%5.30%2.84%1.91%
PFN
PIMCO Income Strategy Fund II		-3.70%13.07%15.72%15.43%-17.65%5.14%3.97%3.18%

Correlation

The correlation between RFXIX and PFN is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.28

Correlation (3Y)
Calculated over the trailing 3-year period

0.18

Correlation (5Y)
Calculated over the trailing 5-year period

0.15

Correlation (All Time)
Calculated using the full available price history since Jul 17, 2019

0.13

The correlation between RFXIX and PFN shifts across timeframes, from 0.13 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.

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Rational Special Situations Income Fund

PIMCO Income Strategy Fund II

Often compared with RFXIX:
RFXIX vs. AGGRFXIX vs. BIBLRFXIX vs. FTECRFXIX vs. VTIRFXIX vs. BNDRFXIX vs. QDSIXRFXIX vs. ONEQ
Often compared with PFN:
PFN vs. PDIPFN vs. PCNPFN vs. PHKPFN vs. PTYPFN vs. GOFPFN vs. EICPFN vs. JEPI

Return for Risk

RFXIX vs. PFN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
RFXIX
RFXIX Risk / Return Rank: 9898
Overall Rank
RFXIX Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
RFXIX Sortino Ratio Rank: 9797
Sortino Ratio Rank
RFXIX Omega Ratio Rank: 9898
Omega Ratio Rank
RFXIX Calmar Ratio Rank: 9797
Calmar Ratio Rank
RFXIX Martin Ratio Rank: 9898
Martin Ratio Rank
PFN
PFN Risk / Return Rank: 77
Overall Rank
PFN Sharpe Ratio Rank: 77
Sharpe Ratio Rank
PFN Sortino Ratio Rank: 77
Sortino Ratio Rank
PFN Omega Ratio Rank: 77
Omega Ratio Rank
PFN Calmar Ratio Rank: 66
Calmar Ratio Rank
PFN Martin Ratio Rank: 77
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

RFXIX vs. PFN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rational Special Situations Income Fund (RFXIX) and PIMCO Income Strategy Fund II (PFN). 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.

RFXIXPFNDifference
Sharpe ratioReturn per unit of total volatility
3.55
0.53

+3.02

Sortino ratioReturn per unit of downside risk
5.30
0.82

+4.48

Omega ratioGain probability vs. loss probability

2.06

1.11

+0.96

Calmar ratioReturn relative to maximum drawdown

6.87

0.50

+6.37

Martin ratioReturn relative to average drawdown

28.10

1.82

+26.27

RFXIX vs. PFN - Sharpe Ratio Comparison

The current RFXIX Sharpe Ratio is 3.55, which is higher than the PFN Sharpe Ratio of 0.53. The chart below compares the historical Sharpe Ratios of RFXIX and PFN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

RFXIX vs. PFN - Drawdown Comparison

The maximum RFXIX drawdown since its inception was -12.91%, smaller than the maximum PFN drawdown of -80.08%. Use the drawdown chart below to compare losses from any high point for RFXIX and PFN.

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Drawdown Indicators

RFXIXPFNDifference

Max Drawdown

Largest peak-to-trough decline

-12.91%

-80.08%

+67.17%

Max Drawdown (1Y)

Largest decline over 1 year

-0.72%

-10.77%

+10.05%

Max Drawdown (3Y)

Largest decline over 3 years

-1.05%

-14.31%

+13.26%

Max Drawdown (5Y)

Largest decline over 5 years

-4.93%

-33.45%

+28.52%

Max Drawdown (10Y)

Largest decline over 10 years

—

-45.70%

—

Current Drawdown

Current decline from peak

-0.11%

-4.74%

+4.63%

Average Drawdown

Average peak-to-trough decline

-0.86%

-11.81%

+10.95%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.18%

2.93%

-2.75%

Volatility

RFXIX vs. PFN - Volatility Comparison

The current volatility for Rational Special Situations Income Fund (RFXIX) is 0.37%, while PIMCO Income Strategy Fund II (PFN) has a volatility of 2.79%. This indicates that RFXIX experiences smaller price fluctuations and is considered to be less risky than PFN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

RFXIXPFNDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.37%

2.79%

-2.42%

Volatility (6M)

Calculated over the trailing 6-month period

0.78%

9.01%

-8.23%

Volatility (1Y)

Calculated over the trailing 1-year period

1.40%

10.14%

-8.74%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

1.96%

14.64%

-12.68%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

2.94%

18.19%

-15.25%

RFXIX vs. PFN - Expense Ratio Comparison

RFXIX has a 1.76% expense ratio, which is higher than PFN's 1.74% expense ratio.

Dividends

RFXIX vs. PFN - Dividend Comparison

RFXIX's dividend yield for the trailing twelve months is around 5.39%, less than PFN's 12.67% yield.

PositionTTM20252024202320222021202020192018201720162015
PFN
PIMCO Income Strategy Fund II		12.67%11.49%11.57%11.92%12.19%9.71%9.67%9.07%10.81%9.20%10.12%11.74%
RFXIX
Rational Special Situations Income Fund		5.39%5.02%6.69%7.85%6.08%5.04%4.99%1.39%0.00%0.00%0.00%0.00%

Frequently Asked Questions

RFXIX and PFN have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

PFN has higher volatility (2.79%) compared to RFXIX (0.37%). In terms of maximum drawdown, RFXIX dropped -12.91% vs PFN's -80.08%.

RFXIX currently has the higher Sharpe Ratio (3.55 vs 0.53), 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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