HICSX vs. PACIX

Last updated Jun 4, 2026

HICSX (Harbor Convertible Securities Fund) and PACIX (Columbia Convertible Securities Fund) are both Convertible Bonds funds. Over the past 10 years, HICSX returned 10.53%/yr vs 13.47%/yr for PACIX. Their correlation of 0.94 suggests significant overlap in exposure. Both charge a 1.12% expense ratio.

Performance

HICSX vs. PACIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Convertible Securities Fund (HICSX) and Columbia Convertible Securities Fund (PACIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with HICSX having a 23.92% return and PACIX slightly higher at 24.05%. Over the past 10 years, HICSX has underperformed PACIX with an annualized return of 10.53%, while PACIX has yielded a comparatively higher 13.47% annualized return.

HICSX

• 1D: 1.41%
• 1M: 7.06%
• YTD: 23.92%
• 6M: 24.19%
• 1Y: 43.62%
• 3Y*: 21.62%
• 5Y*: 9.31%
• 10Y*: 10.53%

PACIX

• 1D: 1.28%
• 1M: 7.88%
• YTD: 24.05%
• 6M: 23.90%
• 1Y: 44.22%
• 3Y*: 20.29%
• 5Y*: 8.24%
• 10Y*: 13.47%

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

HICSX vs. PACIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HICSX Harbor Convertible Securities Fund	23.92%	19.99%	12.36%	10.37%	-15.55%	2.07%	31.41%	17.89%	-0.65%	7.93%
PACIX Columbia Convertible Securities Fund	24.05%	19.58%	9.51%	11.91%	-19.54%	3.71%	47.86%	26.15%	-1.03%	15.07%

Correlation

The correlation between HICSX and PACIX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since May 4, 2011	0.94

The correlation between HICSX and PACIX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

Return for Risk

HICSX vs. PACIX — Risk / Return Rank

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

HICSX

HICSX Risk / Return Rank: 90
HICSX Sharpe Ratio Rank: 92
HICSX Sortino Ratio Rank: 85
HICSX Omega Ratio Rank: 81
HICSX Calmar Ratio Rank: 96
HICSX Martin Ratio Rank: 97

PACIX

PACIX Risk / Return Rank: 90
PACIX Sharpe Ratio Rank: 93
PACIX Sortino Ratio Rank: 86
PACIX Omega Ratio Rank: 82
PACIX Calmar Ratio Rank: 95
PACIX Martin Ratio Rank: 95

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.

HICSX vs. PACIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Convertible Securities Fund (HICSX) and Columbia Convertible Securities Fund (PACIX). 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.

	HICSX	PACIX	Difference
Sharpe ratio Return per unit of total volatility	3.12	3.19	-0.07
Sortino ratio Return per unit of downside risk	4.04	4.10	-0.06
Omega ratio Gain probability vs. loss probability	1.54	1.54	0.00
Calmar ratio Return relative to maximum drawdown	6.44	5.82	+0.62
Martin ratio Return relative to average drawdown	26.49	23.25	+3.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HICSX vs. PACIX - Sharpe Ratio Comparison

The current HICSX Sharpe Ratio is 3.12, which is comparable to the PACIX Sharpe Ratio of 3.19. The chart below compares the historical Sharpe Ratios of HICSX and PACIX, 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

	HICSX	PACIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.12	3.19	-0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.82	0.63	+0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.98	1.01	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	0.86	+0.02

Drawdowns

HICSX vs. PACIX - Drawdown Comparison

The maximum HICSX drawdown since its inception was -23.68%, smaller than the maximum PACIX drawdown of -43.86%. Use the drawdown chart below to compare losses from any high point for HICSX and PACIX.

Drawdown Indicators

	HICSX	PACIX	Difference
Max Drawdown Largest peak-to-trough decline	-23.68%	-43.86%	+20.18%
Max Drawdown (1Y) Largest decline over 1 year	-6.92%	-7.85%	+0.93%
Max Drawdown (3Y) Largest decline over 3 years	-11.24%	-12.15%	+0.91%
Max Drawdown (5Y) Largest decline over 5 years	-22.03%	-26.71%	+4.68%
Max Drawdown (10Y) Largest decline over 10 years	-23.68%	-28.74%	+5.06%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.77%	-6.83%	+2.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	1.96%	-0.28%

Volatility

HICSX vs. PACIX - Volatility Comparison

Harbor Convertible Securities Fund (HICSX) has a higher volatility of 5.02% compared to Columbia Convertible Securities Fund (PACIX) at 4.69%. This indicates that HICSX's price experiences larger fluctuations and is considered to be riskier than PACIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HICSX	PACIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.02%	4.69%	+0.33%
Volatility (6M) Calculated over the trailing 6-month period	11.61%	11.64%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	14.28%	14.33%	-0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.35%	13.07%	-1.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.83%	13.40%	-2.57%

HICSX vs. PACIX - Expense Ratio Comparison

Both HICSX and PACIX have an expense ratio of 1.12%.

Dividends

HICSX vs. PACIX - Dividend Comparison

HICSX's dividend yield for the trailing twelve months is around 1.46%, more than PACIX's 1.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HICSX Harbor Convertible Securities Fund	1.46%	1.95%	3.22%	2.91%	0.44%	14.09%	9.57%	3.61%	6.45%	10.65%	0.98%	3.95%
PACIX Columbia Convertible Securities Fund	1.20%	1.45%	1.96%	2.53%	9.87%	22.27%	7.81%	6.29%	5.29%	2.75%	2.34%	9.91%

Frequently Asked Questions

Can I hold both HICSX and PACIX in my portfolio?

With a correlation of 0.97, HICSX and PACIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, HICSX or PACIX?

HICSX has higher volatility (5.02%) compared to PACIX (4.69%). In terms of maximum drawdown, HICSX dropped -23.68% vs PACIX's -43.86%.

Which has better risk-adjusted returns?

PACIX currently has the higher Sharpe Ratio (3.19 vs 3.12), 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.