UNAVX vs. PBAIX
UNAVX (USA Mutuals All Seasons Fund) and PBAIX (BlackRock Tactical Opportunities Fund Institutional Class) are both Tactical Allocation funds. Over the past 5 years, UNAVX returned 4.97%/yr vs 7.78%/yr for PBAIX. Their 0.11 correlation means their historical movements had little consistent relationship. UNAVX charges 1.99%/yr vs 0.77%/yr for PBAIX.
Performance
UNAVX vs. PBAIX - Performance Comparison
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Returns By Period
In the year-to-date period, UNAVX achieves a -3.99% return, which is significantly lower than PBAIX's 10.31% return.
UNAVX
- 1D
- 0.00%
- 1M
- -0.16%
- 6M
- -4.21%
- YTD
- -3.99%
- 1Y
- -2.60%
- 3Y*
- 1.03%
- 5Y*
- 4.97%
- 10Y*
- —
- ALL TIME*
- 4.56%
PBAIX
- 1D
- 0.93%
- 1M
- 0.98%
- 6M
- 9.55%
- YTD
- 10.31%
- 1Y
- 11.44%
- 3Y*
- 9.38%
- 5Y*
- 7.78%
- 10Y*
- 6.10%
- ALL TIME*
- 6.50%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
UNAVX vs. PBAIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UNAVX USA Mutuals All Seasons Fund | -3.99% | 1.91% | 6.76% | 3.44% | 6.91% | 11.74% | -8.36% | 25.57% | -4.91% | 4.62% |
PBAIX BlackRock Tactical Opportunities Fund Institutional Class | 10.31% | 6.46% | 12.08% | 2.64% | 6.14% | 0.50% | 6.91% | 1.65% | 4.68% | 0.51% |
Correlation
The correlation between UNAVX and PBAIX is -0.00, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.00 |
Correlation (3Y) Balances recent behavior with more history. | 0.18 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.13 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2017 | 0.11 |
The correlation between UNAVX and PBAIX shifts across timeframes, from -0.00 (1 year) to 0.18 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
UNAVX vs. PBAIX — Risk / Return Rank
UNAVX
PBAIX
UNAVX vs. PBAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for USA Mutuals All Seasons Fund (UNAVX) and BlackRock Tactical Opportunities Fund Institutional Class (PBAIX). 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.
| UNAVX | PBAIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.67 | ||
| Sortino ratioReturn per unit of downside risk | -3.90 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.39 | -0.53 |
| Calmar ratioReturn relative to maximum drawdown | -0.40 | 3.92 | -4.32 |
| Martin ratioReturn relative to average drawdown | -0.73 | 9.50 | -10.22 |
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Drawdowns
UNAVX vs. PBAIX - Drawdown Comparison
The maximum UNAVX drawdown since its inception was -30.05%, smaller than the maximum PBAIX drawdown of -39.26%. Use the drawdown chart below to compare losses from any high point for UNAVX and PBAIX.
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Drawdown Indicators
| UNAVX | PBAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.05% | -39.26% | +9.21% |
Max Drawdown (1Y)Largest decline over 1 year | -8.10% | -2.99% | -5.11% |
Max Drawdown (3Y)Largest decline over 3 years | -8.10% | -6.79% | -1.31% |
Max Drawdown (5Y)Largest decline over 5 years | -8.10% | -6.79% | -1.31% |
Max Drawdown (10Y)Largest decline over 10 years | — | -8.94% | — |
Current DrawdownCurrent decline from peak | -7.06% | -0.06% | -7.00% |
Average DrawdownAverage peak-to-trough decline | -4.77% | -4.28% | -0.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.46% | 1.23% | +3.23% |
Volatility
UNAVX vs. PBAIX - Volatility Comparison
The current volatility for USA Mutuals All Seasons Fund (UNAVX) is 0.47%, while BlackRock Tactical Opportunities Fund Institutional Class (PBAIX) has a volatility of 1.66%. This indicates that UNAVX experiences smaller price fluctuations and is considered to be less risky than PBAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UNAVX | PBAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.47% | 1.66% | -1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 4.21% | 4.68% | -0.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.12% | 5.74% | -0.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.53% | 6.44% | +1.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.72% | 6.10% | +6.62% |
UNAVX vs. PBAIX - Expense Ratio Comparison
UNAVX has a 1.99% expense ratio, which is higher than PBAIX's 0.77% expense ratio.
Dividends
UNAVX vs. PBAIX - Dividend Comparison
UNAVX's dividend yield for the trailing twelve months is around 2.63%, while PBAIX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBAIX BlackRock Tactical Opportunities Fund Institutional Class | 0.00% | 0.00% | 0.00% | 11.84% | 3.52% | 0.00% | 2.71% | 3.39% | 10.17% | 0.86% | 1.74% | 5.15% |
UNAVX USA Mutuals All Seasons Fund | 2.63% | 2.52% | 2.88% | 1.62% | 0.00% | 0.00% | 0.00% | 5.70% | 0.85% | 0.61% | 0.00% | 0.00% |
Frequently Asked Questions
UNAVX and PBAIX have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PBAIX has higher volatility (1.66%) compared to UNAVX (0.47%). In terms of maximum drawdown, UNAVX dropped -30.05% vs PBAIX's -39.26%.
PBAIX currently has the higher Sharpe Ratio (2.04 vs -0.64), 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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