UTMAX vs. PAAIX
UTMAX (Victory Target Managed Allocation Fund) and PAAIX (PIMCO All Asset Fund) are both Tactical Allocation funds. Over the past 10 years, UTMAX returned 8.74%/yr vs 6.71%/yr for PAAIX. Their 0.64 correlation means they have sometimes moved together and sometimes differently. UTMAX charges 0.69%/yr vs 1.40%/yr for PAAIX.
Performance
UTMAX vs. PAAIX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, UTMAX achieves a 8.43% return, which is significantly lower than PAAIX's 9.50% return. Over the past 10 years, UTMAX has outperformed PAAIX with an annualized return of 8.74%, while PAAIX has yielded a comparatively lower 6.71% annualized return.
UTMAX
- 1D
- 0.24%
- 1M
- 0.48%
- 6M
- 5.76%
- YTD
- 8.43%
- 1Y
- 22.11%
- 3Y*
- 14.29%
- 5Y*
- 6.79%
- 10Y*
- 8.74%
- ALL TIME*
- 8.42%
PAAIX
- 1D
- -0.08%
- 1M
- 0.49%
- 6M
- 6.43%
- YTD
- 9.50%
- 1Y
- 17.62%
- 3Y*
- 9.50%
- 5Y*
- 4.76%
- 10Y*
- 6.71%
- ALL TIME*
- 6.74%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
PAAIX PIMCO All Asset Fund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
UTMAX vs. PAAIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UTMAX Victory Target Managed Allocation Fund | 8.43% | 15.25% | 13.81% | 14.40% | -20.44% | 21.52% | 13.42% | 22.64% | -9.01% | 13.54% |
PAAIX PIMCO All Asset Fund | 9.50% | 13.20% | 4.12% | 8.19% | -11.52% | 15.61% | 8.38% | 12.21% | -4.97% | 13.99% |
Correlation
The correlation between UTMAX and PAAIX is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.62 |
Correlation (3Y) Balances recent behavior with more history. | 0.60 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.66 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.63 |
Correlation (All Time) Calculated using the full available price history since Sep 17, 2015 | 0.64 |
The correlation between UTMAX and PAAIX has been stable across timeframes, ranging from 0.60 to 0.66 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
UTMAX vs. PAAIX — Risk / Return Rank
UTMAX
PAAIX
UTMAX vs. PAAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Victory Target Managed Allocation Fund (UTMAX) 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.
| UTMAX | PAAIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.48 | ||
| Sortino ratioReturn per unit of downside risk | -2.23 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.58 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 2.24 | 3.69 | -1.45 |
| Martin ratioReturn relative to average drawdown | 9.28 | 14.73 | -5.45 |
Loading charts...
Drawdowns
UTMAX vs. PAAIX - Drawdown Comparison
The maximum UTMAX drawdown since its inception was -40.49%, which is greater than PAAIX's maximum drawdown of -27.59%. Use the drawdown chart below to compare losses from any high point for UTMAX and PAAIX.
Loading charts...
Drawdown Indicators
| UTMAX | PAAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.49% | -27.59% | -12.90% |
Max Drawdown (1Y)Largest decline over 1 year | -9.41% | -4.87% | -4.54% |
Max Drawdown (3Y)Largest decline over 3 years | -17.43% | -7.52% | -9.91% |
Max Drawdown (5Y)Largest decline over 5 years | -40.49% | -19.83% | -20.66% |
Max Drawdown (10Y)Largest decline over 10 years | -40.49% | -22.64% | -17.85% |
Current DrawdownCurrent decline from peak | -0.95% | -0.33% | -0.62% |
Average DrawdownAverage peak-to-trough decline | -10.78% | -3.75% | -7.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.27% | 1.22% | +1.05% |
Volatility
UTMAX vs. PAAIX - Volatility Comparison
Victory Target Managed Allocation Fund (UTMAX) has a higher volatility of 3.30% compared to PIMCO All Asset Fund (PAAIX) at 1.08%. This indicates that UTMAX's price experiences larger fluctuations and is considered to be riskier than PAAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| UTMAX | PAAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.30% | 1.08% | +2.22% |
Volatility (6M)Calculated over the trailing 6-month period | 10.89% | 4.73% | +6.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.59% | 5.95% | +7.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.46% | 7.76% | +14.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.36% | 7.74% | +11.62% |
UTMAX vs. PAAIX - Expense Ratio Comparison
UTMAX has a 0.69% expense ratio, which is lower than PAAIX's 1.40% expense ratio.
Dividends
UTMAX vs. PAAIX - Dividend Comparison
UTMAX's dividend yield for the trailing twelve months is around 6.33%, less than PAAIX's 8.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PAAIX PIMCO All Asset Fund | 8.04% | 7.12% | 5.92% | 3.20% | 7.68% | 11.90% | 3.56% | 3.33% | 5.50% | 4.48% | 3.60% | 3.93% |
UTMAX Victory Target Managed Allocation Fund | 6.33% | 6.87% | 1.59% | 1.41% | 4.47% | 27.44% | 5.94% | 4.84% | 11.05% | 1.13% | 1.36% | 1.23% |
Frequently Asked Questions
UTMAX and PAAIX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UTMAX has higher volatility (3.30%) compared to PAAIX (1.08%). In terms of maximum drawdown, UTMAX dropped -40.49% vs PAAIX's -27.59%.
PAAIX currently has the higher Sharpe Ratio (3.04 vs 1.55), 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.
Find the right allocation for UTMAX and PAAIX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer