JLS vs. PCM
JLS (Nuveen Mortgage and Income Fund) and PCM (PCM Fund Inc.) are both Mortgage Backed Securities funds. Over the past 10 years, JLS returned 5.63%/yr vs 5.07%/yr for PCM. At a 0.18 correlation, their price movements are largely independent.
Performance
JLS vs. PCM - Performance Comparison
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Returns By Period
In the year-to-date period, JLS achieves a 0.42% return, which is significantly higher than PCM's -3.64% return. Over the past 10 years, JLS has outperformed PCM with an annualized return of 5.63%, while PCM has yielded a comparatively lower 5.07% annualized return.
JLS
- 1D
- 0.12%
- 1M
- -4.37%
- YTD
- 0.42%
- 6M
- -0.02%
- 1Y
- 4.61%
- 3Y*
- 13.65%
- 5Y*
- 5.12%
- 10Y*
- 5.63%
PCM
- 1D
- 0.73%
- 1M
- -0.99%
- YTD
- -3.64%
- 6M
- -2.29%
- 1Y
- -0.12%
- 3Y*
- -5.76%
- 5Y*
- -4.21%
- 10Y*
- 5.07%
JLS vs. PCM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JLS Nuveen Mortgage and Income Fund | 0.42% | 11.60% | 17.86% | 14.88% | -17.88% | 11.02% | -5.38% | 4.26% | -1.02% | 17.03% |
PCM PCM Fund Inc. | -3.64% | -10.10% | 8.81% | 12.44% | -18.96% | 8.57% | 3.05% | 23.05% | -4.47% | 26.46% |
Correlation
The correlation between JLS and PCM is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Nov 27, 2009 | 0.18 |
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Return for Risk
JLS vs. PCM — Risk / Return Rank
JLS
PCM
JLS vs. PCM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Mortgage and Income Fund (JLS) and PCM Fund Inc. (PCM). 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.
| JLS | PCM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.55 | ||
| Sortino ratioReturn per unit of downside risk | +0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.01 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.86 | -0.01 | +0.87 |
| Martin ratioReturn relative to average drawdown | 2.68 | -0.02 | +2.70 |
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Drawdowns
JLS vs. PCM - Drawdown Comparison
The maximum JLS drawdown since its inception was -35.18%, smaller than the maximum PCM drawdown of -64.88%. Use the drawdown chart below to compare losses from any high point for JLS and PCM.
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Drawdown Indicators
| JLS | PCM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.18% | -64.88% | +29.70% |
Max Drawdown (1Y)Largest decline over 1 year | -5.41% | -12.81% | +7.40% |
Max Drawdown (3Y)Largest decline over 3 years | -9.28% | -29.62% | +20.34% |
Max Drawdown (5Y)Largest decline over 5 years | -23.53% | -29.62% | +6.09% |
Max Drawdown (10Y)Largest decline over 10 years | -35.18% | -47.69% | +12.51% |
Current DrawdownCurrent decline from peak | -5.30% | -22.39% | +17.09% |
Average DrawdownAverage peak-to-trough decline | -5.81% | -9.73% | +3.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.72% | 6.31% | -4.59% |
Volatility
JLS vs. PCM - Volatility Comparison
Nuveen Mortgage and Income Fund (JLS) has a higher volatility of 2.59% compared to PCM Fund Inc. (PCM) at 2.18%. This indicates that JLS's price experiences larger fluctuations and is considered to be riskier than PCM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JLS | PCM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.59% | 2.18% | +0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 7.22% | 7.95% | -0.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.63% | 11.36% | -2.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.60% | 20.33% | -9.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.41% | 22.71% | -10.30% |
Dividends
JLS vs. PCM - Dividend Comparison
JLS's dividend yield for the trailing twelve months is around 10.60%, less than PCM's 13.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JLS Nuveen Mortgage and Income Fund | 10.60% | 10.13% | 9.91% | 9.29% | 6.56% | 4.61% | 4.94% | 6.20% | 9.31% | 13.44% | 7.11% | 6.68% |
PCM PCM Fund Inc. | 13.91% | 12.56% | 12.47% | 12.06% | 12.20% | 8.96% | 8.95% | 8.38% | 9.46% | 8.47% | 14.60% | 10.39% |
Frequently Asked Questions
JLS and PCM have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JLS has higher volatility (2.59%) compared to PCM (2.18%). In terms of maximum drawdown, JLS dropped -35.18% vs PCM's -64.88%.
JLS currently has the higher Sharpe Ratio (0.54 vs -0.01), 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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