FCSSX vs. PCLIX

Last updated Jun 4, 2026

FCSSX (Fidelity Series Commodity Strategy Fund) and PCLIX (PIMCO CommoditiesPLUS Strategy Fund) are both Commodities funds. Over the past 10 years, FCSSX returned 6.53%/yr vs 12.24%/yr for PCLIX. Their correlation of 0.84 suggests significant overlap in exposure. FCSSX charges 0.00%/yr vs 0.98%/yr for PCLIX.

Performance

FCSSX vs. PCLIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Series Commodity Strategy Fund (FCSSX) and PIMCO CommoditiesPLUS Strategy Fund (PCLIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCSSX achieves a 21.09% return, which is significantly lower than PCLIX's 36.81% return. Over the past 10 years, FCSSX has underperformed PCLIX with an annualized return of 6.53%, while PCLIX has yielded a comparatively higher 12.24% annualized return.

FCSSX

• 1D: 0.31%
• 1M: -1.32%
• YTD: 21.09%
• 6M: 21.06%
• 1Y: 32.62%
• 3Y*: 14.44%
• 5Y*: 11.27%
• 10Y*: 6.53%

PCLIX

• 1D: 0.54%
• 1M: -3.72%
• YTD: 36.81%
• 6M: 35.82%
• 1Y: 46.35%
• 3Y*: 18.54%
• 5Y*: 16.85%
• 10Y*: 12.24%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FCSSX vs. PCLIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCSSX Fidelity Series Commodity Strategy Fund	21.09%	15.43%	5.36%	-8.25%	18.11%	27.59%	-3.11%	7.41%	-12.10%	0.92%
PCLIX PIMCO CommoditiesPLUS Strategy Fund	36.81%	5.76%	8.53%	0.69%	23.32%	43.83%	-9.18%	19.37%	-12.02%	10.86%

Correlation

The correlation between FCSSX and PCLIX is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jun 2, 2010	0.84

The correlation between FCSSX and PCLIX has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.

Return for Risk

FCSSX vs. PCLIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FCSSX

FCSSX Risk / Return Rank: 64
FCSSX Sharpe Ratio Rank: 63
FCSSX Sortino Ratio Rank: 50
FCSSX Omega Ratio Rank: 56
FCSSX Calmar Ratio Rank: 90
FCSSX Martin Ratio Rank: 60

PCLIX

PCLIX Risk / Return Rank: 75
PCLIX Sharpe Ratio Rank: 72
PCLIX Sortino Ratio Rank: 54
PCLIX Omega Ratio Rank: 61
PCLIX Calmar Ratio Rank: 97
PCLIX Martin Ratio Rank: 89

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FCSSX vs. PCLIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Commodity Strategy Fund (FCSSX) and PIMCO CommoditiesPLUS Strategy Fund (PCLIX). 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.

	FCSSX	PCLIX	Difference
Sharpe ratio Return per unit of total volatility	2.32	2.47	-0.15
Sortino ratio Return per unit of downside risk	2.97	3.11	-0.14
Omega ratio Gain probability vs. loss probability	1.42	1.44	-0.02
Calmar ratio Return relative to maximum drawdown	4.55	7.01	-2.45
Martin ratio Return relative to average drawdown	11.93	17.91	-5.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCSSX vs. PCLIX - Sharpe Ratio Comparison

The current FCSSX Sharpe Ratio is 2.32, which is comparable to the PCLIX Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of FCSSX and PCLIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FCSSX	PCLIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.32	2.47	-0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.87	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.30	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	0.18	-0.08

Drawdowns

FCSSX vs. PCLIX - Drawdown Comparison

The maximum FCSSX drawdown since its inception was -66.04%, roughly equal to the maximum PCLIX drawdown of -66.60%. Use the drawdown chart below to compare losses from any high point for FCSSX and PCLIX.

Drawdown Indicators

	FCSSX	PCLIX	Difference
Max Drawdown Largest peak-to-trough decline	-66.04%	-66.60%	+0.56%
Max Drawdown (1Y) Largest decline over 1 year	-7.21%	-6.84%	-0.37%
Max Drawdown (3Y) Largest decline over 3 years	-11.43%	-12.30%	+0.87%
Max Drawdown (5Y) Largest decline over 5 years	-24.07%	-21.59%	-2.48%
Max Drawdown (10Y) Largest decline over 10 years	-33.37%	-51.78%	+18.41%
Current Drawdown Current decline from peak	-9.40%	-4.70%	-4.70%
Average Drawdown Average peak-to-trough decline	-36.20%	-24.15%	-12.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.74%	2.67%	+0.07%

Volatility

FCSSX vs. PCLIX - Volatility Comparison

The current volatility for Fidelity Series Commodity Strategy Fund (FCSSX) is 4.53%, while PIMCO CommoditiesPLUS Strategy Fund (PCLIX) has a volatility of 6.97%. This indicates that FCSSX experiences smaller price fluctuations and is considered to be less risky than PCLIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCSSX	PCLIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.53%	6.97%	-2.44%
Volatility (6M) Calculated over the trailing 6-month period	11.73%	16.87%	-5.14%
Volatility (1Y) Calculated over the trailing 1-year period	14.28%	19.49%	-5.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.97%	19.41%	-3.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.34%	40.55%	-26.21%

FCSSX vs. PCLIX - Expense Ratio Comparison

FCSSX has a 0.00% expense ratio, which is lower than PCLIX's 0.98% expense ratio.

Dividends

FCSSX vs. PCLIX - Dividend Comparison

FCSSX's dividend yield for the trailing twelve months is around 2.22%, more than PCLIX's 1.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCSSX Fidelity Series Commodity Strategy Fund	2.22%	2.69%	12.74%	4.53%	128.24%	41.74%	0.44%	1.49%	6.76%	0.53%	0.00%	0.00%
PCLIX PIMCO CommoditiesPLUS Strategy Fund	1.37%	2.45%	7.50%	5.06%	42.60%	73.41%	0.77%	2.46%	18.58%	12.63%	0.16%	2.22%

Frequently Asked Questions

Can I hold both FCSSX and PCLIX in my portfolio?

FCSSX and PCLIX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCSSX or PCLIX?

PCLIX has higher volatility (6.97%) compared to FCSSX (4.53%). In terms of maximum drawdown, FCSSX dropped -66.04% vs PCLIX's -66.60%.

Which has better risk-adjusted returns?

PCLIX currently has the higher Sharpe Ratio (2.47 vs 2.32), 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.