CNSDX vs. PBXIX
Compare and contrast key facts about Invesco Convertible Securities Fund (CNSDX) and Rational/Pier 88 Convertible Securities Fund (PBXIX).
CNSDX is managed by Invesco. It was launched on Jul 27, 1997. PBXIX is managed by Rational Funds. It was launched on Dec 5, 2019.
Performance
CNSDX vs. PBXIX - Performance Comparison
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CNSDX vs. PBXIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CNSDX Invesco Convertible Securities Fund | -0.47% | 16.24% | 9.95% | 8.18% | -15.51% | 4.69% | 44.68% | 1.06% |
PBXIX Rational/Pier 88 Convertible Securities Fund | -2.92% | 2.12% | 8.23% | 3.28% | -10.82% | 10.23% | 17.09% | 1.70% |
Returns By Period
In the year-to-date period, CNSDX achieves a -0.47% return, which is significantly higher than PBXIX's -2.92% return.
CNSDX
- 1D
- -1.80%
- 1M
- -6.14%
- YTD
- -0.47%
- 6M
- 0.05%
- 1Y
- 19.21%
- 3Y*
- 10.61%
- 5Y*
- 3.97%
- 10Y*
- 9.66%
PBXIX
- 1D
- -0.29%
- 1M
- -4.31%
- YTD
- -2.92%
- 6M
- -2.93%
- 1Y
- 1.01%
- 3Y*
- 3.97%
- 5Y*
- 1.30%
- 10Y*
- —
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CNSDX vs. PBXIX - Expense Ratio Comparison
CNSDX has a 0.68% expense ratio, which is lower than PBXIX's 0.99% expense ratio.
Return for Risk
CNSDX vs. PBXIX — Risk / Return Rank
CNSDX
PBXIX
CNSDX vs. PBXIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Convertible Securities Fund (CNSDX) and Rational/Pier 88 Convertible Securities Fund (PBXIX). 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.
| CNSDX | PBXIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.22 | 0.12 | +1.10 |
Sortino ratioReturn per unit of downside risk | 1.69 | 0.22 | +1.47 |
Omega ratioGain probability vs. loss probability | 1.23 | 1.03 | +0.20 |
Calmar ratioReturn relative to maximum drawdown | 2.11 | 0.09 | +2.02 |
Martin ratioReturn relative to average drawdown | 7.07 | 0.32 | +6.75 |
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
| CNSDX | PBXIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.22 | 0.12 | +1.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | 0.15 | +0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.77 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.37 | +0.30 |
Correlation
The correlation between CNSDX and PBXIX is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
CNSDX vs. PBXIX - Dividend Comparison
CNSDX's dividend yield for the trailing twelve months is around 11.83%, more than PBXIX's 6.05% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNSDX Invesco Convertible Securities Fund | 11.83% | 11.77% | 3.46% | 1.46% | 3.97% | 28.36% | 10.96% | 5.21% | 12.65% | 4.57% | 3.74% | 2.74% |
PBXIX Rational/Pier 88 Convertible Securities Fund | 6.05% | 3.48% | 2.14% | 2.22% | 2.25% | 7.56% | 1.77% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
CNSDX vs. PBXIX - Drawdown Comparison
The maximum CNSDX drawdown since its inception was -39.33%, which is greater than PBXIX's maximum drawdown of -24.03%. Use the drawdown chart below to compare losses from any high point for CNSDX and PBXIX.
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Drawdown Indicators
| CNSDX | PBXIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.33% | -24.03% | -15.30% |
Max Drawdown (1Y)Largest decline over 1 year | -8.09% | -5.74% | -2.35% |
Max Drawdown (5Y)Largest decline over 5 years | -22.73% | -15.57% | -7.16% |
Max Drawdown (10Y)Largest decline over 10 years | -24.19% | — | — |
Current DrawdownCurrent decline from peak | -8.09% | -5.16% | -2.93% |
Average DrawdownAverage peak-to-trough decline | -6.94% | -5.65% | -1.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.41% | 1.54% | +0.87% |
Volatility
CNSDX vs. PBXIX - Volatility Comparison
Invesco Convertible Securities Fund (CNSDX) has a higher volatility of 6.25% compared to Rational/Pier 88 Convertible Securities Fund (PBXIX) at 2.16%. This indicates that CNSDX's price experiences larger fluctuations and is considered to be riskier than PBXIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNSDX | PBXIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.25% | 2.16% | +4.09% |
Volatility (6M)Calculated over the trailing 6-month period | 12.61% | 4.96% | +7.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.83% | 8.50% | +7.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.98% | 8.63% | +3.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.60% | 11.57% | +1.03% |