SNOIX vs. PWLIX

Last updated Aug 1, 2026

SNOIX (Easterly Snow Long/Short Opportunity Fund) and PWLIX (PIMCO RAE Worldwide Long/Short PLUS Fund) are both Long-Short funds. Over the past 10 years, SNOIX returned 10.51%/yr vs 4.88%/yr for PWLIX. Their 0.32 correlation means their historical movements had little consistent relationship. SNOIX charges 1.41%/yr vs 1.19%/yr for PWLIX.

Performance

SNOIX vs. PWLIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Easterly Snow Long/Short Opportunity Fund (SNOIX) and PIMCO RAE Worldwide Long/Short PLUS Fund (PWLIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SNOIX achieves a 12.30% return, which is significantly higher than PWLIX's 7.50% return. Over the past 10 years, SNOIX has outperformed PWLIX with an annualized return of 10.51%, while PWLIX has yielded a comparatively lower 4.88% annualized return.

SNOIX

• 1D: 0.32%
• 1M: 4.40%
• 6M: 10.35%
• YTD: 12.30%
• 1Y: 29.53%
• 3Y*: 13.20%
• 5Y*: 10.15%
• 10Y*: 10.51%
• ALL TIME*: 7.10%

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%

*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)
PWLIX PIMCO RAE Worldwide Long/Short PLUS Fund	$0.00	$0.00	$0.00
SNOIX Easterly Snow Long/Short Opportunity Fund	$0.00	$0.00	$0.00

SNOIX vs. PWLIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SNOIX Easterly Snow Long/Short Opportunity Fund	12.30%	20.66%	5.17%	10.84%	-3.10%	26.26%	1.44%	22.44%	-11.25%	12.80%
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%

Correlation

The correlation between SNOIX and PWLIX is 0.17, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.17
Correlation (3Y) Balances recent behavior with more history.	0.22
Correlation (5Y) Shows whether the relationship held over a longer period.	0.19
Correlation (10Y) Provides a long-term view across more market conditions.	0.29
Correlation (All Time) Calculated using the full available price history since Dec 8, 2014	0.32

The correlation between SNOIX and PWLIX shifts across timeframes, from 0.17 (1 year) to 0.32 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SNOIX vs. PWLIX — Risk / Return Rank

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

SNOIX

SNOIX Risk / Return Rank: 92
SNOIX Sharpe Ratio Rank: 92
SNOIX Sortino Ratio Rank: 90
SNOIX Omega Ratio Rank: 84
SNOIX Calmar Ratio Rank: 98
SNOIX Martin Ratio Rank: 97

PWLIX

PWLIX Risk / Return Rank: 21
PWLIX Sharpe Ratio Rank: 24
PWLIX Sortino Ratio Rank: 26
PWLIX Omega Ratio Rank: 24
PWLIX Calmar Ratio Rank: 16
PWLIX Martin Ratio Rank: 14

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.

SNOIX vs. PWLIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Easterly Snow Long/Short Opportunity Fund (SNOIX) and PIMCO RAE Worldwide Long/Short PLUS Fund (PWLIX). 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.

	SNOIX	PWLIX	Difference
Sharpe ratio: Return per unit of total volatility	2.35	0.86	+1.49
Sortino ratio: Return per unit of downside risk	3.41	1.36	+2.04
Omega ratio: Gain probability vs. loss probability	1.41	1.16	+0.25
Calmar ratio: Return relative to maximum drawdown	6.16	0.84	+5.32
Martin ratio: Return relative to average drawdown	18.31	1.99	+16.33

SNOIX vs. PWLIX - Sharpe Ratio Comparison

The current SNOIX Sharpe Ratio is 2.35, which is higher than the PWLIX Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of SNOIX and PWLIX, 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

SNOIX vs. PWLIX - Drawdown Comparison

The maximum SNOIX drawdown since its inception was -65.34%, which is greater than PWLIX's maximum drawdown of -26.92%. Use the drawdown chart below to compare losses from any high point for SNOIX and PWLIX.

Drawdown Indicators

	SNOIX	PWLIX	Difference
Max Drawdown Largest peak-to-trough decline	-65.34%	-26.92%	-38.42%
Max Drawdown (1Y) Largest decline over 1 year	-4.50%	-10.30%	+5.80%
Max Drawdown (3Y) Largest decline over 3 years	-15.33%	-11.74%	-3.59%
Max Drawdown (5Y) Largest decline over 5 years	-17.66%	-11.74%	-5.92%
Max Drawdown (10Y) Largest decline over 10 years	-34.43%	-26.92%	-7.51%
Current Drawdown Current decline from peak	0.00%	-1.84%	+1.84%
Average Drawdown Average peak-to-trough decline	-9.71%	-4.22%	-5.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.51%	4.35%	-2.84%

Volatility

SNOIX vs. PWLIX - Volatility Comparison

The current volatility for Easterly Snow Long/Short Opportunity Fund (SNOIX) is 2.33%, while PIMCO RAE Worldwide Long/Short PLUS Fund (PWLIX) has a volatility of 4.64%. This indicates that SNOIX experiences smaller price fluctuations and is considered to be less risky than PWLIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SNOIX	PWLIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.33%	4.64%	-2.31%
Volatility (6M) Calculated over the trailing 6-month period	7.99%	8.36%	-0.37%
Volatility (1Y) Calculated over the trailing 1-year period	11.85%	10.13%	+1.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.90%	9.32%	+5.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.27%	9.15%	+7.12%

SNOIX vs. PWLIX - Expense Ratio Comparison

SNOIX has a 1.41% expense ratio, which is higher than PWLIX's 1.19% expense ratio.

Dividends

SNOIX vs. PWLIX - Dividend Comparison

SNOIX's dividend yield for the trailing twelve months is around 6.16%, more than PWLIX's 4.58% 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%
SNOIX Easterly Snow Long/Short Opportunity Fund	6.16%	6.91%	5.10%	2.29%	7.07%	8.98%	1.86%	1.95%	2.06%	4.80%	0.36%	2.79%

Frequently Asked Questions

Can I hold both SNOIX and PWLIX in my portfolio?

SNOIX and PWLIX have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SNOIX or PWLIX?

PWLIX has higher volatility (4.64%) compared to SNOIX (2.33%). In terms of maximum drawdown, SNOIX dropped -65.34% vs PWLIX's -26.92%.

Which has better risk-adjusted returns?

SNOIX currently has the higher Sharpe Ratio (2.35 vs 0.86), 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.