PCF vs. ACP
PCF (High Income Securities Fund) and ACP (abrdn Income Credit Strategies Fund) are both mutual funds - PCF is a Convertible Bonds fund actively managed by Putnam, while ACP is a Multisector Bonds fund actively managed by abrdn. Both are actively managed. Over the past 10 years, PCF returned 5.49%/yr vs 5.48%/yr for ACP. Their 0.30 correlation means their historical movements had little consistent relationship.
Performance
PCF vs. ACP - Performance Comparison
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Returns By Period
In the year-to-date period, PCF achieves a -7.81% return, which is significantly lower than ACP's 3.47% return. Both investments have delivered pretty close results over the past 10 years, with PCF having a 5.49% annualized return and ACP not far behind at 5.48%.
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%
ACP
- 1D
- -0.20%
- 1M
- -2.74%
- 6M
- -1.41%
- YTD
- 3.47%
- 1Y
- 0.66%
- 3Y*
- 7.17%
- 5Y*
- 0.27%
- 10Y*
- 5.48%
- ALL TIME*
- 3.78%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.30M | $2.58M | $2.42M | |
| $275.34K | $274.09K | $326.49K |
PCF vs. ACP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
ACP abrdn Income Credit Strategies Fund | 3.47% | 6.48% | 4.81% | 19.27% | -22.87% | 6.65% | 7.51% | 26.93% | -17.64% | 15.60% |
Correlation
The correlation between PCF and ACP is 0.27, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.27 |
Correlation (3Y) Balances recent behavior with more history. | 0.35 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.36 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.32 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2011 | 0.30 |
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Return for Risk
PCF vs. ACP — Risk / Return Rank
PCF
ACP
PCF vs. ACP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for High Income Securities Fund (PCF) and abrdn Income Credit Strategies Fund (ACP). 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.
| PCF | ACP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.61 | ||
| Sortino ratioReturn per unit of downside risk | -0.88 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.02 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.60 | 0.08 | -0.68 |
| Martin ratioReturn relative to average drawdown | -1.26 | 0.22 | -1.48 |
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Drawdowns
PCF vs. ACP - Drawdown Comparison
The maximum PCF drawdown since its inception was -53.82%, which is greater than ACP's maximum drawdown of -51.03%. Use the drawdown chart below to compare losses from any high point for PCF and ACP.
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Drawdown Indicators
| PCF | ACP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.82% | -51.03% | -2.79% |
Max Drawdown (1Y)Largest decline over 1 year | -10.73% | -10.51% | -0.22% |
Max Drawdown (3Y)Largest decline over 3 years | -13.74% | -18.97% | +5.23% |
Max Drawdown (5Y)Largest decline over 5 years | -29.06% | -38.83% | +9.77% |
Max Drawdown (10Y)Largest decline over 10 years | -45.13% | -51.03% | +5.90% |
Current DrawdownCurrent decline from peak | -9.67% | -7.14% | -2.53% |
Average DrawdownAverage peak-to-trough decline | -10.48% | -11.07% | +0.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.08% | 3.85% | +1.23% |
Volatility
PCF vs. ACP - Volatility Comparison
High Income Securities Fund (PCF) and abrdn Income Credit Strategies Fund (ACP) have volatilities of 3.77% and 3.79%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PCF | ACP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.77% | 3.79% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 10.55% | 10.04% | +0.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.94% | 12.25% | -0.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.05% | 17.02% | -0.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.54% | 21.09% | -3.55% |
Dividends
PCF vs. ACP - Dividend Comparison
PCF's dividend yield for the trailing twelve months is around 13.30%, less than ACP's 18.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACP abrdn Income Credit Strategies Fund | 18.38% | 17.19% | 19.72% | 17.65% | 17.70% | 11.76% | 12.73% | 12.27% | 12.60% | 10.26% | 10.72% | 12.69% |
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
PCF and ACP have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ACP has higher volatility (3.79%) compared to PCF (3.77%). In terms of maximum drawdown, PCF dropped -53.82% vs ACP's -51.03%.
ACP currently has the higher Sharpe Ratio (0.07 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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