VEITX vs. PZRIX
VEITX (VELA International Fund) and PZRIX (PIMCO RAE Global ex-US Fund) are both Foreign Large Cap Equities funds. Over the past 5 years, VEITX returned 7.55%/yr vs 10.05%/yr for PZRIX. Their correlation of 0.89 suggests significant overlap in exposure. VEITX charges 1.20%/yr vs 0.00%/yr for PZRIX.
Performance
VEITX vs. PZRIX - Performance Comparison
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Returns By Period
In the year-to-date period, VEITX achieves a 5.60% return, which is significantly lower than PZRIX's 14.80% return.
VEITX
- 1D
- 0.67%
- 1M
- 0.30%
- YTD
- 5.60%
- 6M
- 7.38%
- 1Y
- 18.42%
- 3Y*
- 15.71%
- 5Y*
- 7.55%
- 10Y*
- —
PZRIX
- 1D
- 0.00%
- 1M
- 0.31%
- YTD
- 14.80%
- 6M
- 18.29%
- 1Y
- 33.76%
- 3Y*
- 21.08%
- 5Y*
- 10.05%
- 10Y*
- 10.18%
VEITX vs. PZRIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
VEITX VELA International Fund | 5.60% | 31.00% | 3.91% | 15.92% | -6.88% | 7.33% | 22.42% |
PZRIX PIMCO RAE Global ex-US Fund | 14.80% | 34.05% | 3.29% | 19.31% | -9.11% | 12.08% | 24.91% |
Correlation
The correlation between VEITX and PZRIX is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Oct 30, 2020 | 0.89 |
The correlation between VEITX and PZRIX has been stable across timeframes, ranging from 0.79 to 0.89 - a consistent structural relationship.
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Return for Risk
VEITX vs. PZRIX — Risk / Return Rank
VEITX
PZRIX
VEITX vs. PZRIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VELA International Fund (VEITX) and PIMCO RAE Global ex-US Fund (PZRIX). 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.
| VEITX | PZRIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.51 | ||
| Sortino ratioReturn per unit of downside risk | -1.90 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.53 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | 4.18 | -2.51 |
| Martin ratioReturn relative to average drawdown | 6.15 | 15.07 | -8.92 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VEITX | PZRIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.47 | 2.97 | -1.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.64 | -0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.60 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.94 | 0.61 | +0.33 |
Drawdowns
VEITX vs. PZRIX - Drawdown Comparison
The maximum VEITX drawdown since its inception was -27.99%, smaller than the maximum PZRIX drawdown of -43.53%. Use the drawdown chart below to compare losses from any high point for VEITX and PZRIX.
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Drawdown Indicators
| VEITX | PZRIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.99% | -43.53% | +15.54% |
Max Drawdown (1Y)Largest decline over 1 year | -11.04% | -8.18% | -2.86% |
Max Drawdown (3Y)Largest decline over 3 years | -12.16% | -13.81% | +1.65% |
Max Drawdown (5Y)Largest decline over 5 years | -27.99% | -30.85% | +2.86% |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.53% | — |
Current DrawdownCurrent decline from peak | -1.39% | -0.99% | -0.40% |
Average DrawdownAverage peak-to-trough decline | -5.78% | -8.88% | +3.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.99% | 2.26% | +0.73% |
Volatility
VEITX vs. PZRIX - Volatility Comparison
VELA International Fund (VEITX) has a higher volatility of 3.79% compared to PIMCO RAE Global ex-US Fund (PZRIX) at 2.96%. This indicates that VEITX's price experiences larger fluctuations and is considered to be riskier than PZRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VEITX | PZRIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.79% | 2.96% | +0.83% |
Volatility (6M)Calculated over the trailing 6-month period | 10.05% | 8.89% | +1.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.56% | 11.50% | +1.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.31% | 15.77% | -1.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.46% | 16.93% | -2.47% |
VEITX vs. PZRIX - Expense Ratio Comparison
VEITX has a 1.20% expense ratio, which is higher than PZRIX's 0.00% expense ratio.
Dividends
VEITX vs. PZRIX - Dividend Comparison
VEITX's dividend yield for the trailing twelve months is around 7.96%, more than PZRIX's 5.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
PZRIX PIMCO RAE Global ex-US Fund | 5.71% | 6.56% | 6.70% | 9.19% | 8.80% | 11.99% | 2.04% | 6.32% | 2.80% | 4.13% | 2.58% |
VEITX VELA International Fund | 7.96% | 7.97% | 3.63% | 2.28% | 1.65% | 0.65% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VEITX and PZRIX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VEITX has higher volatility (3.79%) compared to PZRIX (2.96%). In terms of maximum drawdown, VEITX dropped -27.99% vs PZRIX's -43.53%.
PZRIX currently has the higher Sharpe Ratio (2.97 vs 1.47), 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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