TSI vs. PAXS
TSI (TCW Strategic Income Fund Inc.) and PAXS (PIMCO Access Income Fund) are both Multisector Bonds funds. Over the past 3 years, TSI returned 6.01%/yr vs 12.57%/yr for PAXS. At a 0.22 correlation, their price movements are largely independent.
Performance
TSI vs. PAXS - Performance Comparison
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Returns By Period
In the year-to-date period, TSI achieves a -7.37% return, which is significantly lower than PAXS's 1.46% return.
TSI
- 1D
- -0.45%
- 1M
- -1.59%
- 6M
- -6.81%
- YTD
- -7.37%
- 1Y
- -2.65%
- 3Y*
- 6.01%
- 5Y*
- 1.66%
- 10Y*
- 4.83%
PAXS
- 1D
- -0.21%
- 1M
- 3.75%
- 6M
- -2.79%
- YTD
- 1.46%
- 1Y
- 8.46%
- 3Y*
- 12.57%
- 5Y*
- —
- 10Y*
- —
TSI vs. PAXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TSI TCW Strategic Income Fund Inc. | -7.37% | 9.72% | 13.45% | 7.13% | -8.80% |
PAXS PIMCO Access Income Fund | 1.46% | 12.58% | 19.51% | 9.30% | -16.66% |
Correlation
The correlation between TSI and PAXS is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2022 | 0.22 |
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Return for Risk
TSI vs. PAXS — Risk / Return Rank
TSI
PAXS
TSI vs. PAXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TCW Strategic Income Fund Inc. (TSI) and PIMCO Access Income Fund (PAXS). 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.
| TSI | PAXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.01 | ||
| Sortino ratioReturn per unit of downside risk | -1.35 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.14 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.32 | 0.70 | -1.02 |
| Martin ratioReturn relative to average drawdown | -0.68 | 1.80 | -2.48 |
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Drawdowns
TSI vs. PAXS - Drawdown Comparison
The maximum TSI drawdown since its inception was -60.35%, which is greater than PAXS's maximum drawdown of -22.28%. Use the drawdown chart below to compare losses from any high point for TSI and PAXS.
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Drawdown Indicators
| TSI | PAXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.35% | -22.28% | -38.07% |
Max Drawdown (1Y)Largest decline over 1 year | -8.30% | -12.10% | +3.80% |
Max Drawdown (3Y)Largest decline over 3 years | -8.30% | -13.40% | +5.10% |
Max Drawdown (5Y)Largest decline over 5 years | -18.56% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -30.00% | — | — |
Current DrawdownCurrent decline from peak | -7.40% | -4.00% | -3.40% |
Average DrawdownAverage peak-to-trough decline | -7.69% | -7.51% | -0.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.92% | 4.70% | -0.78% |
Volatility
TSI vs. PAXS - Volatility Comparison
The current volatility for TCW Strategic Income Fund Inc. (TSI) is 2.22%, while PIMCO Access Income Fund (PAXS) has a volatility of 2.47%. This indicates that TSI experiences smaller price fluctuations and is considered to be less risky than PAXS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSI | PAXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.22% | 2.47% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 7.12% | 9.67% | -2.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.35% | 12.28% | -3.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.84% | 17.30% | -6.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.03% | 17.30% | -3.27% |
Dividends
TSI vs. PAXS - Dividend Comparison
TSI's dividend yield for the trailing twelve months is around 7.79%, less than PAXS's 12.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PAXS PIMCO Access Income Fund | 12.39% | 11.72% | 11.76% | 12.54% | 13.30% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TSI TCW Strategic Income Fund Inc. | 7.79% | 6.58% | 8.00% | 7.73% | 7.00% | 6.36% | 4.83% | 7.39% | 7.07% | 5.36% | 5.21% | 4.08% |
Frequently Asked Questions
TSI and PAXS have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PAXS has higher volatility (2.47%) compared to TSI (2.22%). In terms of maximum drawdown, TSI dropped -60.35% vs PAXS's -22.28%.
PAXS currently has the higher Sharpe Ratio (0.69 vs -0.32), 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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