PCF vs. AVK
PCF (High Income Securities Fund) and AVK (Advent Convertible and Income Fund) are both Convertible Bonds funds. Both are actively managed. Over the past 10 years, PCF returned 6.56%/yr vs 10.65%/yr for AVK. At 0.39, their price movements are largely independent.
Performance
PCF vs. AVK - Performance Comparison
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Returns By Period
In the year-to-date period, PCF achieves a -6.22% return, which is significantly lower than AVK's -0.34% return. Over the past 10 years, PCF has underperformed AVK with an annualized return of 6.56%, while AVK has yielded a comparatively higher 10.65% annualized return.
PCF
- 1D
- 0.36%
- 1M
- 0.88%
- YTD
- -6.22%
- 6M
- -4.87%
- 1Y
- 2.45%
- 3Y*
- 7.61%
- 5Y*
- 2.30%
- 10Y*
- 6.56%
AVK
- 1D
- -0.33%
- 1M
- 1.40%
- YTD
- -0.34%
- 6M
- 0.30%
- 1Y
- 25.00%
- 3Y*
- 14.81%
- 5Y*
- 4.90%
- 10Y*
- 10.65%
PCF vs. AVK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PCF High Income Securities Fund | -6.22% | 5.31% | 16.66% | 10.45% | -15.56% | 11.44% | 8.13% | 4.22% | 5.46% | 14.58% |
AVK Advent Convertible and Income Fund | -0.34% | 19.66% | 19.42% | 18.16% | -34.45% | 30.18% | 17.62% | 36.54% | -13.36% | 17.28% |
Correlation
The correlation between PCF and AVK is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since May 1, 2003 | 0.39 |
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Return for Risk
PCF vs. AVK — Risk / Return Rank
PCF
AVK
PCF vs. AVK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for High Income Securities Fund (PCF) and Advent Convertible and Income Fund (AVK). 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.
| PCF | AVK | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.24 | 2.08 | -1.85 |
Sortino ratioReturn per unit of downside risk | 0.41 | 2.79 | -2.38 |
Omega ratioGain probability vs. loss probability | 1.05 | 1.39 | -0.33 |
Calmar ratioReturn relative to maximum drawdown | 0.40 | 2.45 | -2.05 |
Martin ratioReturn relative to average drawdown | 1.27 | 12.21 | -10.94 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PCF | AVK | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.24 | 2.08 | -1.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.14 | 0.25 | -0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.38 | 0.47 | -0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.30 | -0.07 |
Drawdowns
PCF vs. AVK - Drawdown Comparison
The maximum PCF drawdown since its inception was -53.82%, smaller than the maximum AVK drawdown of -67.49%. Use the drawdown chart below to compare losses from any high point for PCF and AVK.
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Drawdown Indicators
| PCF | AVK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.82% | -67.49% | +13.67% |
Max Drawdown (1Y)Largest decline over 1 year | -10.73% | -14.25% | +3.52% |
Max Drawdown (5Y)Largest decline over 5 years | -29.06% | -38.50% | +9.44% |
Max Drawdown (10Y)Largest decline over 10 years | -45.13% | -49.82% | +4.69% |
Current DrawdownCurrent decline from peak | -8.11% | -3.71% | -4.40% |
Average DrawdownAverage peak-to-trough decline | -10.51% | -11.77% | +1.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.40% | 2.86% | +0.54% |
Volatility
PCF vs. AVK - Volatility Comparison
The current volatility for High Income Securities Fund (PCF) is 5.36%, while Advent Convertible and Income Fund (AVK) has a volatility of 8.51%. This indicates that PCF experiences smaller price fluctuations and is considered to be less risky than AVK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PCF | AVK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.36% | 8.51% | -3.15% |
Volatility (6M)Calculated over the trailing 6-month period | 8.46% | 11.40% | -2.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.00% | 14.05% | -3.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.08% | 19.80% | -3.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.47% | 22.55% | -5.08% |
Dividends
PCF vs. AVK - Dividend Comparison
PCF's dividend yield for the trailing twelve months is around 12.64%, more than AVK's 11.58% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCF High Income Securities Fund | 12.64% | 11.57% | 11.29% | 11.29% | 13.48% | 10.82% | 11.46% | 3.29% | 6.88% | 3.97% | 4.52% | 5.07% |
AVK Advent Convertible and Income Fund | 11.58% | 11.22% | 11.71% | 12.36% | 12.90% | 15.13% | 8.51% | 9.04% | 11.21% | 8.10% | 7.68% | 8.33% |