PFL vs PHK: Correlation
PIMCO Income Strategy Fund Shares of Beneficial Interest (PFL) and Pimco High Income Fund (PHK) show a strong relationship: their 3-year correlation of weekly returns is 0.72.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PFL and PHK?
Across a 3-year window, the weekly returns of PFL and PHK correlate at 0.72, strong. Little has changed lately, as the 1-year reading of 0.71 lands near the 3-year figure. Stretching to 5 years gives 0.74, with an annualized covariance of 102.2 %².
By 3-year correlation, PHK places #7 of the 22 assets tracked against PFL. Twelve-month performance is nearly a tie, at +1.1% for PFL and +4.6% for PHK.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
PFL vs PHK: side by side
| PFL (PIMCO Income Strategy Fund Shares of Beneficial Interest) | PHK (Pimco High Income Fund) | |
|---|---|---|
| 1-year return | +1.1% | +4.6% |
| 5-year return | +1.9% | +18.6% |
| Volatility (ann.) | 12.0% | 11.8% |
| Beta vs S&P 500 | 0.39 | 0.36 |
| Max drawdown (3Y) | -11.1% | -14.5% |
| Market cap | – | – |
| P/E (trailing) | 9.6 | 9.0 |
| Dividend yield | 12.86% | 12.74% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PFL | PHK |
|---|---|---|
| 2022 | -18.0% | -14.4% |
| 2023 | +17.2% | +18.8% |
| 2024 | +11.4% | +9.5% |
| 2025 | +13.0% | +12.6% |
| 2026 | -2.2% | +2.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PFL and PHK good diversifiers for each other?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between PFL and PHK?
The PFL/PHK correlation stands at 0.72 on a 3-year window (1 year: 0.71, 5 years: 0.74), computed from weekly returns as of 2026-08-27.
Is PHK a good diversifier for PFL?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.72 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: PFL correlations · PHK correlations
