SFREX vs. PONAX
SFREX (Schwab Fundamental Global Real Estate Index Fund) and PONAX (PIMCO Income Fund Class A) are both mutual funds - SFREX is a REIT fund managed by Charles Schwab, while PONAX is a Multisector Bonds fund managed by PIMCO. Over the past 10 years, SFREX returned 3.73%/yr vs 4.29%/yr for PONAX. At a 0.39 correlation, their price movements are largely independent. SFREX charges 0.39%/yr vs 1.02%/yr for PONAX.
Performance
SFREX vs. PONAX - Performance Comparison
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Returns By Period
In the year-to-date period, SFREX achieves a 6.46% return, which is significantly higher than PONAX's 0.74% return. Over the past 10 years, SFREX has underperformed PONAX with an annualized return of 3.73%, while PONAX has yielded a comparatively higher 4.29% annualized return.
SFREX
- 1D
- 0.58%
- 1M
- -1.60%
- YTD
- 6.46%
- 6M
- 6.46%
- 1Y
- 11.31%
- 3Y*
- 9.36%
- 5Y*
- -0.41%
- 10Y*
- 3.73%
PONAX
- 1D
- 0.56%
- 1M
- 0.88%
- YTD
- 0.74%
- 6M
- 1.58%
- 1Y
- 7.05%
- 3Y*
- 7.27%
- 5Y*
- 3.05%
- 10Y*
- 4.29%
SFREX vs. PONAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SFREX Schwab Fundamental Global Real Estate Index Fund | 6.46% | 11.26% | 3.05% | 4.10% | -21.06% | 18.56% | -11.16% | 22.61% | -8.26% | 20.07% |
PONAX PIMCO Income Fund Class A | 0.74% | 10.63% | 5.02% | 8.96% | -9.34% | 2.21% | 5.40% | 7.65% | 0.21% | 8.19% |
Correlation
The correlation between SFREX and PONAX is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015 | 0.39 |
The correlation between SFREX and PONAX shifts across timeframes, from 0.38 (10 years) to 0.50 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SFREX vs. PONAX — Risk / Return Rank
SFREX
PONAX
SFREX vs. PONAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental Global Real Estate Index Fund (SFREX) and PIMCO Income Fund Class A (PONAX). 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.
| SFREX | PONAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.81 | ||
| Sortino ratioReturn per unit of downside risk | -1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.35 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.00 | 2.01 | -1.01 |
| Martin ratioReturn relative to average drawdown | 3.21 | 6.70 | -3.49 |
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Drawdowns
SFREX vs. PONAX - Drawdown Comparison
The maximum SFREX drawdown since its inception was -41.98%, which is greater than PONAX's maximum drawdown of -13.64%. Use the drawdown chart below to compare losses from any high point for SFREX and PONAX.
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Drawdown Indicators
| SFREX | PONAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.98% | -13.64% | -28.34% |
Max Drawdown (1Y)Largest decline over 1 year | -11.96% | -3.69% | -8.27% |
Max Drawdown (3Y)Largest decline over 3 years | -20.54% | -3.90% | -16.64% |
Max Drawdown (5Y)Largest decline over 5 years | -33.97% | -13.64% | -20.33% |
Max Drawdown (10Y)Largest decline over 10 years | -41.98% | -13.64% | -28.34% |
Current DrawdownCurrent decline from peak | -3.64% | -1.12% | -2.52% |
Average DrawdownAverage peak-to-trough decline | -10.43% | -1.79% | -8.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.71% | 1.10% | +2.61% |
Volatility
SFREX vs. PONAX - Volatility Comparison
Schwab Fundamental Global Real Estate Index Fund (SFREX) has a higher volatility of 3.46% compared to PIMCO Income Fund Class A (PONAX) at 1.66%. This indicates that SFREX's price experiences larger fluctuations and is considered to be riskier than PONAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SFREX | PONAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.46% | 1.66% | +1.80% |
Volatility (6M)Calculated over the trailing 6-month period | 9.34% | 3.34% | +6.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.06% | 4.13% | +7.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.39% | 4.83% | +11.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.96% | 4.22% | +13.74% |
SFREX vs. PONAX - Expense Ratio Comparison
SFREX has a 0.39% expense ratio, which is lower than PONAX's 1.02% expense ratio.
Dividends
SFREX vs. PONAX - Dividend Comparison
SFREX's dividend yield for the trailing twelve months is around 3.29%, less than PONAX's 5.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PONAX PIMCO Income Fund Class A | 5.43% | 5.61% | 5.86% | 5.86% | 4.66% | 3.62% | 4.48% | 5.42% | 5.24% | 4.97% | 5.13% | 7.45% |
SFREX Schwab Fundamental Global Real Estate Index Fund | 3.29% | 3.51% | 3.75% | 3.53% | 2.89% | 2.92% | 3.46% | 4.10% | 5.45% | 2.78% | 5.00% | 1.29% |
Frequently Asked Questions
SFREX and PONAX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SFREX has higher volatility (3.46%) compared to PONAX (1.66%). In terms of maximum drawdown, SFREX dropped -41.98% vs PONAX's -13.64%.
PONAX currently has the higher Sharpe Ratio (1.80 vs 0.99), 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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