WFSPX vs. PCBAX
WFSPX (iShares S&P 500 Index Fund Class K) and PCBAX (BlackRock Tactical Opportunities Fund) are both mutual funds - WFSPX is a S&P 500 fund tracking the S&P 500 Index, while PCBAX is a Macro Trading fund managed by BlackRock. Over the past 10 years, WFSPX returned 15.68%/yr vs 5.88%/yr for PCBAX. A 0.69 correlation means they provide meaningful diversification when combined. WFSPX charges 0.03%/yr vs 1.08%/yr for PCBAX.
Performance
WFSPX vs. PCBAX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with WFSPX having a 9.77% return and PCBAX slightly lower at 9.60%. Over the past 10 years, WFSPX has outperformed PCBAX with an annualized return of 15.68%, while PCBAX has yielded a comparatively lower 5.88% annualized return.
WFSPX
- 1D
- -0.36%
- 1M
- 0.10%
- YTD
- 9.77%
- 6M
- 8.77%
- 1Y
- 25.45%
- 3Y*
- 21.35%
- 5Y*
- 13.57%
- 10Y*
- 15.68%
PCBAX
- 1D
- 0.00%
- 1M
- 0.12%
- YTD
- 9.60%
- 6M
- 9.39%
- 1Y
- 13.63%
- 3Y*
- 9.37%
- 5Y*
- 7.10%
- 10Y*
- 5.88%
WFSPX vs. PCBAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WFSPX iShares S&P 500 Index Fund Class K | 9.77% | 17.83% | 24.94% | 26.25% | -18.14% | 28.63% | 18.43% | 31.45% | -4.83% | 21.27% |
PCBAX BlackRock Tactical Opportunities Fund | 9.60% | 6.16% | 11.77% | 2.37% | 5.77% | 0.29% | 6.50% | 1.41% | 4.32% | 7.71% |
Correlation
The correlation between WFSPX and PCBAX is 0.04, 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 | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 1993 | 0.69 |
Over the past year, the correlation between WFSPX and PCBAX has dropped to 0.04 - well below their long-term average of 0.69, suggesting their price drivers have been diverging.
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Return for Risk
WFSPX vs. PCBAX — Risk / Return Rank
WFSPX
PCBAX
WFSPX vs. PCBAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 Index Fund Class K (WFSPX) and BlackRock Tactical Opportunities Fund (PCBAX). 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.
| WFSPX | PCBAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.48 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.01 | 4.55 | -1.55 |
| Martin ratioReturn relative to average drawdown | 13.58 | 11.01 | +2.58 |
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Drawdowns
WFSPX vs. PCBAX - Drawdown Comparison
The maximum WFSPX drawdown since its inception was -58.21%, which is greater than PCBAX's maximum drawdown of -39.55%. Use the drawdown chart below to compare losses from any high point for WFSPX and PCBAX.
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Drawdown Indicators
| WFSPX | PCBAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.21% | -39.55% | -18.66% |
Max Drawdown (1Y)Largest decline over 1 year | -8.90% | -3.04% | -5.86% |
Max Drawdown (3Y)Largest decline over 3 years | -18.74% | -6.75% | -11.99% |
Max Drawdown (5Y)Largest decline over 5 years | -24.51% | -6.75% | -17.76% |
Max Drawdown (10Y)Largest decline over 10 years | -33.74% | -9.00% | -24.74% |
Current DrawdownCurrent decline from peak | -1.72% | -0.53% | -1.19% |
Average DrawdownAverage peak-to-trough decline | -12.76% | -4.36% | -8.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 1.25% | +0.72% |
Volatility
WFSPX vs. PCBAX - Volatility Comparison
iShares S&P 500 Index Fund Class K (WFSPX) has a higher volatility of 4.67% compared to BlackRock Tactical Opportunities Fund (PCBAX) at 1.12%. This indicates that WFSPX's price experiences larger fluctuations and is considered to be riskier than PCBAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WFSPX | PCBAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.67% | 1.12% | +3.55% |
Volatility (6M)Calculated over the trailing 6-month period | 9.83% | 4.71% | +5.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.49% | 5.72% | +6.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.97% | 6.46% | +10.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.07% | 6.13% | +11.94% |
WFSPX vs. PCBAX - Expense Ratio Comparison
WFSPX has a 0.03% expense ratio, which is lower than PCBAX's 1.08% expense ratio.
Dividends
WFSPX vs. PCBAX - Dividend Comparison
WFSPX's dividend yield for the trailing twelve months is around 1.59%, while PCBAX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCBAX BlackRock Tactical Opportunities Fund | 0.00% | 0.00% | 0.00% | 11.67% | 3.36% | 0.00% | 2.44% | 3.08% | 9.91% | 0.80% | 1.41% | 4.86% |
WFSPX iShares S&P 500 Index Fund Class K | 1.59% | 1.72% | 1.41% | 1.50% | 2.02% | 1.82% | 1.66% | 1.99% | 2.00% | 1.62% | 2.37% | 2.49% |
Frequently Asked Questions
WFSPX and PCBAX have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WFSPX has higher volatility (4.67%) compared to PCBAX (1.12%). In terms of maximum drawdown, WFSPX dropped -58.21% vs PCBAX's -39.55%.
PCBAX currently has the higher Sharpe Ratio (2.42 vs 2.15), 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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