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High Income Securities Fund (PCF) Sharpe Ratio: -0.54

Mutual Fund · Currency in USD · Last updated Aug 1, 2026

A closed-end balanced income fund seeking high current income, primarily investing in fixed income securities, convertibles, and preferred stocks

PCF's Sharpe Ratio of -0.54 indicates that for each unit of volatility, it generates -0.54 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Aug 1, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets. For how to read this number and when it can mislead, see Sharpe Ratio Explained.

PCF Sharpe Ratio Rank

PCF Sharpe Ratio Rank: 1.11
Concerning

PCF ranks above 1.1% of all investments in our database based on Sharpe Ratio over the past 12 months, indicating weak returns relative to total risk taken. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

  • Strong returns with low total volatility → Higher rank
  • High volatility (both upside and downside) → Lower rank
  • Consistent returns → Higher rank than volatile returns of same magnitude
  • Sharp drawdowns increase volatility → Lower rank

What you can do with this information

  • Weak risk-adjusted returns relative to category peers
  • Evaluate whether this holding aligns with your risk-return objectives
  • Consider reducing exposure or re-evaluating position size
  • Review higher-ranked alternatives in the same category

PCF Sharpe Ratio Market Positioning

The chart shows PCF's Sharpe Ratio relative to all mutual funds on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

  • Red zone (bottom 25%): 0.93 or lower
  • Yellow zone (middle 50%): 0.93 to 1.81
  • Green zone (top 25%): 1.81 or higher
  • Top 1%: 3.74+
  • Median: 1.45 — half of all investments score higher

How it compares to other similar mutual funds

The table compares High Income Securities Fund's Sharpe Ratio with other mutual funds in the Convertible Bonds category across multiple time periods, showing how PCF's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Aug 1, 2026.

SymbolName1Y Sharpe Ratio5Y Sharpe Ratio10Y Sharpe RatioAll Time Sharpe Ratio
ARBIXAbsolute Convertible Arbitrage Fund Institutional Shares7.02
MCIFXMiller Convertible Bond Fund2.64
CXGCXCalamos Global Convertible Fund2.07
CHICalamos Convertible Opportunities and Income Fund1.86
NCVVirtus Convertible and Income Fund1.84
GCVThe Gabelli Convertible and Income Securities Fund Inc1.79
ANNPXVirtus Convertible Fund1.75
NCZVirtus Convertible and Income Fund II1.72
PACIXColumbia Convertible Securities Fund1.67
ACVVirtus Diversified Income & Convertible Fund1.66
PCFHigh Income Securities Fund-0.54
Benchmark

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Time Period

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Historical Sharpe Ratio

The chart shows PCF's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when PCF consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

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