PCF vs. GCV
PCF (High Income Securities Fund) and GCV (The Gabelli Convertible and Income Securities Fund Inc) are both Convertible Bonds funds. Over the past 10 years, PCF returned 6.56%/yr vs 10.01%/yr for GCV. At 0.17, their price movements are largely independent.
Performance
PCF vs. GCV - 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 GCV's 8.52% return. Over the past 10 years, PCF has underperformed GCV with an annualized return of 6.56%, while GCV has yielded a comparatively higher 10.01% 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%
GCV
- 1D
- -0.68%
- 1M
- 4.49%
- YTD
- 8.52%
- 6M
- 8.51%
- 1Y
- 40.64%
- 3Y*
- 13.11%
- 5Y*
- 3.44%
- 10Y*
- 10.01%
PCF vs. GCV - 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% |
GCV The Gabelli Convertible and Income Securities Fund Inc | 8.52% | 22.86% | 19.93% | -15.58% | -23.95% | 19.99% | 16.97% | 45.72% | -19.03% | 37.30% |
Correlation
The correlation between PCF and GCV is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 1995 | 0.17 |
The correlation between PCF and GCV shifts across timeframes, from 0.17 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PCF vs. GCV — Risk / Return Rank
PCF
GCV
PCF vs. GCV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for High Income Securities Fund (PCF) and The Gabelli Convertible and Income Securities Fund Inc (GCV). 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 | GCV | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.24 | 2.87 | -2.64 |
Sortino ratioReturn per unit of downside risk | 0.41 | 3.91 | -3.50 |
Omega ratioGain probability vs. loss probability | 1.05 | 1.50 | -0.45 |
Calmar ratioReturn relative to maximum drawdown | 0.40 | 5.96 | -5.56 |
Martin ratioReturn relative to average drawdown | 1.27 | 21.08 | -19.81 |
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 | GCV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.24 | 2.87 | -2.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.14 | 0.16 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.38 | 0.43 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.18 | +0.06 |
Drawdowns
PCF vs. GCV - Drawdown Comparison
The maximum PCF drawdown since its inception was -53.82%, roughly equal to the maximum GCV drawdown of -55.67%. Use the drawdown chart below to compare losses from any high point for PCF and GCV.
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Drawdown Indicators
| PCF | GCV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.82% | -55.67% | +1.85% |
Max Drawdown (1Y)Largest decline over 1 year | -10.73% | -7.09% | -3.64% |
Max Drawdown (5Y)Largest decline over 5 years | -29.06% | -45.90% | +16.84% |
Max Drawdown (10Y)Largest decline over 10 years | -45.13% | -45.90% | +0.77% |
Current DrawdownCurrent decline from peak | -8.11% | -1.57% | -6.54% |
Average DrawdownAverage peak-to-trough decline | -10.51% | -12.62% | +2.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.40% | 2.00% | +1.40% |
Volatility
PCF vs. GCV - Volatility Comparison
The current volatility for High Income Securities Fund (PCF) is 5.36%, while The Gabelli Convertible and Income Securities Fund Inc (GCV) has a volatility of 7.38%. This indicates that PCF experiences smaller price fluctuations and is considered to be less risky than GCV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PCF | GCV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.36% | 7.38% | -2.02% |
Volatility (6M)Calculated over the trailing 6-month period | 8.46% | 12.33% | -3.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.00% | 15.92% | -4.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.08% | 21.16% | -5.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.47% | 23.48% | -6.01% |
Dividends
PCF vs. GCV - Dividend Comparison
PCF's dividend yield for the trailing twelve months is around 12.64%, more than GCV's 10.96% 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% |
GCV The Gabelli Convertible and Income Securities Fund Inc | 10.96% | 11.57% | 12.60% | 13.33% | 10.00% | 8.14% | 7.68% | 8.21% | 10.93% | 8.14% | 8.72% | 10.04% |