TFLO vs. PAAIX
TFLO (iShares Treasury Floating Rate Bond ETF) and PAAIX (PIMCO All Asset Fund) are both funds - TFLO is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Index, while PAAIX is a Tactical Allocation fund managed by PIMCO. Over the past 10 years, TFLO returned 2.37%/yr vs 7.08%/yr for PAAIX. At a correlation of -0.04, they often move in opposite directions. TFLO charges 0.15%/yr vs 1.40%/yr for PAAIX.
Performance
TFLO vs. PAAIX - Performance Comparison
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Returns By Period
In the year-to-date period, TFLO achieves a 1.71% return, which is significantly lower than PAAIX's 8.96% return. Over the past 10 years, TFLO has underperformed PAAIX with an annualized return of 2.37%, while PAAIX has yielded a comparatively higher 7.08% annualized return.
TFLO
- 1D
- 0.02%
- 1M
- 0.31%
- YTD
- 1.71%
- 6M
- 1.90%
- 1Y
- 3.99%
- 3Y*
- 4.74%
- 5Y*
- 3.66%
- 10Y*
- 2.37%
PAAIX
- 1D
- 0.64%
- 1M
- 1.72%
- YTD
- 8.96%
- 6M
- 9.68%
- 1Y
- 18.62%
- 3Y*
- 10.16%
- 5Y*
- 4.42%
- 10Y*
- 7.08%
TFLO vs. PAAIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TFLO iShares Treasury Floating Rate Bond ETF | 1.71% | 4.22% | 5.34% | 5.12% | 1.99% | -0.02% | 0.43% | 2.04% | 1.76% | 1.01% |
PAAIX PIMCO All Asset Fund | 8.96% | 13.20% | 4.12% | 8.19% | -11.52% | 15.61% | 8.38% | 12.21% | -4.97% | 13.99% |
Correlation
The correlation between TFLO and PAAIX is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2014 | -0.04 |
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Return for Risk
TFLO vs. PAAIX — Risk / Return Rank
TFLO
PAAIX
TFLO vs. PAAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Treasury Floating Rate Bond ETF (TFLO) and PIMCO All Asset Fund (PAAIX). 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.
| TFLO | PAAIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +11.22 | ||
| Sortino ratioReturn per unit of downside risk | +47.00 | ||
| Omega ratioGain probability vs. loss probability | 14.07 | 1.57 | +12.50 |
| Calmar ratioReturn relative to maximum drawdown | 203.31 | 3.79 | +199.51 |
| Martin ratioReturn relative to average drawdown | 831.79 | 15.15 | +816.64 |
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Drawdowns
TFLO vs. PAAIX - Drawdown Comparison
The maximum TFLO drawdown since its inception was -5.01%, smaller than the maximum PAAIX drawdown of -27.59%. Use the drawdown chart below to compare losses from any high point for TFLO and PAAIX.
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Drawdown Indicators
| TFLO | PAAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.01% | -27.59% | +22.58% |
Max Drawdown (1Y)Largest decline over 1 year | -0.02% | -4.87% | +4.85% |
Max Drawdown (3Y)Largest decline over 3 years | -0.04% | -7.59% | +7.55% |
Max Drawdown (5Y)Largest decline over 5 years | -0.13% | -19.83% | +19.70% |
Max Drawdown (10Y)Largest decline over 10 years | -0.16% | -22.64% | +22.48% |
Current DrawdownCurrent decline from peak | 0.00% | -0.41% | +0.41% |
Average DrawdownAverage peak-to-trough decline | -0.10% | -3.77% | +3.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 1.21% | -1.21% |
Volatility
TFLO vs. PAAIX - Volatility Comparison
The current volatility for iShares Treasury Floating Rate Bond ETF (TFLO) is 0.07%, while PIMCO All Asset Fund (PAAIX) has a volatility of 2.20%. This indicates that TFLO experiences smaller price fluctuations and is considered to be less risky than PAAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TFLO | PAAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.07% | 2.20% | -2.13% |
Volatility (6M)Calculated over the trailing 6-month period | 0.20% | 4.75% | -4.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.28% | 6.06% | -5.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.35% | 7.79% | -7.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.45% | 7.79% | -7.34% |
TFLO vs. PAAIX - Expense Ratio Comparison
TFLO has a 0.15% expense ratio, which is lower than PAAIX's 1.40% expense ratio.
Dividends
TFLO vs. PAAIX - Dividend Comparison
TFLO's dividend yield for the trailing twelve months is around 3.89%, less than PAAIX's 8.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PAAIX PIMCO All Asset Fund | 8.08% | 7.12% | 5.92% | 3.20% | 7.68% | 11.90% | 3.56% | 3.33% | 5.50% | 4.48% | 3.60% | 3.93% |
TFLO iShares Treasury Floating Rate Bond ETF | 3.89% | 4.16% | 5.21% | 4.88% | 1.68% | 0.00% | 0.36% | 2.08% | 1.65% | 0.86% | 0.31% | 0.15% |
Frequently Asked Questions
TFLO and PAAIX have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PAAIX has higher volatility (2.20%) compared to TFLO (0.07%). In terms of maximum drawdown, TFLO dropped -5.01% vs PAAIX's -27.59%.
TFLO currently has the higher Sharpe Ratio (14.28 vs 3.05), 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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