HICSX vs. PCF
HICSX (Harbor Convertible Securities Fund) and PCF (High Income Securities Fund) are both Convertible Bonds funds. Over the past 10 years, HICSX returned 9.27%/yr vs 5.49%/yr for PCF. Their 0.38 correlation means their historical movements had little consistent relationship.
Performance
HICSX vs. PCF - Performance Comparison
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Returns By Period
In the year-to-date period, HICSX achieves a 13.82% return, which is significantly higher than PCF's -7.81% return. Over the past 10 years, HICSX has outperformed PCF with an annualized return of 9.27%, while PCF has yielded a comparatively lower 5.49% annualized return.
HICSX
- 1D
- 3.14%
- 1M
- -3.20%
- 6M
- 8.77%
- YTD
- 13.82%
- 1Y
- 25.28%
- 3Y*
- 16.05%
- 5Y*
- 7.26%
- 10Y*
- 9.27%
- ALL TIME*
- 7.50%
PCF
- 1D
- -0.38%
- 1M
- -4.01%
- 6M
- -7.56%
- YTD
- -7.81%
- 1Y
- -5.80%
- 3Y*
- 5.45%
- 5Y*
- -0.68%
- 10Y*
- 5.49%
- ALL TIME*
- 5.04%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $275.34K | $274.09K | $326.49K |
HICSX vs. PCF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HICSX Harbor Convertible Securities Fund | 13.82% | 19.99% | 12.36% | 10.37% | -15.55% | 2.07% | 31.41% | 17.89% | -0.65% | 7.93% |
PCF High Income Securities Fund | -7.81% | 5.31% | 16.66% | 10.45% | -15.56% | 11.44% | 8.13% | 4.22% | 5.46% | 14.58% |
Correlation
The correlation between HICSX and PCF is 0.37, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.37 |
Correlation (3Y) Balances recent behavior with more history. | 0.35 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.38 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.36 |
Correlation (All Time) Calculated using the full available price history since May 3, 2011 | 0.38 |
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Return for Risk
HICSX vs. PCF — Risk / Return Rank
HICSX
PCF
HICSX vs. PCF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harbor Convertible Securities Fund (HICSX) and High Income Securities Fund (PCF). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HICSX | PCF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.99 | ||
| Sortino ratioReturn per unit of downside risk | +2.71 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 0.92 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 2.17 | -0.60 | +2.77 |
| Martin ratioReturn relative to average drawdown | 8.68 | -1.26 | +9.94 |
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Drawdowns
HICSX vs. PCF - Drawdown Comparison
The maximum HICSX drawdown since its inception was -23.68%, smaller than the maximum PCF drawdown of -53.82%. Use the drawdown chart below to compare losses from any high point for HICSX and PCF.
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Drawdown Indicators
| HICSX | PCF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.68% | -53.82% | +30.14% |
Max Drawdown (1Y)Largest decline over 1 year | -10.94% | -10.73% | -0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -11.24% | -13.74% | +2.50% |
Max Drawdown (5Y)Largest decline over 5 years | -22.03% | -29.06% | +7.03% |
Max Drawdown (10Y)Largest decline over 10 years | -23.68% | -45.13% | +21.45% |
Current DrawdownCurrent decline from peak | -8.15% | -9.67% | +1.52% |
Average DrawdownAverage peak-to-trough decline | -4.77% | -10.48% | +5.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.73% | 5.08% | -2.35% |
Volatility
HICSX vs. PCF - Volatility Comparison
Harbor Convertible Securities Fund (HICSX) has a higher volatility of 5.90% compared to High Income Securities Fund (PCF) at 3.77%. This indicates that HICSX's price experiences larger fluctuations and is considered to be riskier than PCF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HICSX | PCF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.90% | 3.77% | +2.13% |
Volatility (6M)Calculated over the trailing 6-month period | 13.49% | 10.55% | +2.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.34% | 11.94% | +4.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.89% | 16.05% | -4.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.10% | 17.54% | -6.44% |
Dividends
HICSX vs. PCF - Dividend Comparison
HICSX's dividend yield for the trailing twelve months is around 1.52%, less than PCF's 13.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HICSX Harbor Convertible Securities Fund | 1.52% | 1.95% | 3.22% | 2.91% | 0.44% | 14.09% | 9.57% | 3.61% | 6.45% | 10.65% | 0.98% | 3.95% |
PCF High Income Securities Fund | 13.30% | 11.57% | 11.29% | 11.29% | 13.48% | 10.82% | 11.46% | 3.29% | 6.88% | 3.97% | 4.52% | 5.07% |
Frequently Asked Questions
HICSX and PCF have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HICSX has higher volatility (5.90%) compared to PCF (3.77%). In terms of maximum drawdown, HICSX dropped -23.68% vs PCF's -53.82%.
HICSX currently has the higher Sharpe Ratio (1.46 vs -0.54), 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.
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