PCF vs. PEYAX
PCF (High Income Securities Fund) and PEYAX (Putnam Large Cap Value Fund) are both mutual funds - PCF is a Convertible Bonds fund actively managed by Putnam, while PEYAX is a Large Cap Value Equities fund managed by Putnam. Over the past 10 years, PCF returned 5.49%/yr vs 13.34%/yr for PEYAX. Their 0.24 correlation means their historical movements had little consistent relationship.
Performance
PCF vs. PEYAX - 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 PEYAX's 14.98% return. Over the past 10 years, PCF has underperformed PEYAX with an annualized return of 5.49%, while PEYAX has yielded a comparatively higher 13.34% annualized return.
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%
PEYAX
- 1D
- 1.26%
- 1M
- 2.62%
- 6M
- 11.16%
- YTD
- 14.98%
- 1Y
- 29.59%
- 3Y*
- 19.51%
- 5Y*
- 13.00%
- 10Y*
- 13.34%
- ALL TIME*
- 6.03%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $275.34K | $274.09K | $326.49K | |
| $0.00 | $0.00 | $0.00 |
PCF vs. PEYAX - 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% |
PEYAX Putnam Large Cap Value Fund | 14.98% | 20.09% | 18.99% | 15.09% | -8.37% | 26.84% | 5.87% | 29.94% | -8.63% | 18.79% |
Correlation
The correlation between PCF and PEYAX is 0.39, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.39 |
Correlation (3Y) Balances recent behavior with more history. | 0.39 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.41 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.37 |
Correlation (All Time) Calculated using the full available price history since Jul 9, 1987 | 0.24 |
The correlation between PCF and PEYAX shifts across timeframes, from 0.24 (all time) to 0.41 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PCF vs. PEYAX — Risk / Return Rank
PCF
PEYAX
PCF vs. PEYAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for High Income Securities Fund (PCF) and Putnam Large Cap Value Fund (PEYAX). 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 | PEYAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.01 | ||
| Sortino ratioReturn per unit of downside risk | -4.18 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.45 | -0.53 |
| Calmar ratioReturn relative to maximum drawdown | -0.60 | 3.77 | -4.36 |
| Martin ratioReturn relative to average drawdown | -1.26 | 14.94 | -16.20 |
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Drawdowns
PCF vs. PEYAX - Drawdown Comparison
The maximum PCF drawdown since its inception was -53.82%, smaller than the maximum PEYAX drawdown of -56.92%. Use the drawdown chart below to compare losses from any high point for PCF and PEYAX.
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Drawdown Indicators
| PCF | PEYAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.82% | -56.92% | +3.10% |
Max Drawdown (1Y)Largest decline over 1 year | -10.73% | -7.23% | -3.50% |
Max Drawdown (3Y)Largest decline over 3 years | -13.74% | -15.12% | +1.38% |
Max Drawdown (5Y)Largest decline over 5 years | -29.06% | -15.31% | -13.75% |
Max Drawdown (10Y)Largest decline over 10 years | -45.13% | -36.06% | -9.07% |
Current DrawdownCurrent decline from peak | -9.67% | 0.00% | -9.67% |
Average DrawdownAverage peak-to-trough decline | -10.48% | -14.01% | +3.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.08% | 1.83% | +3.25% |
Volatility
PCF vs. PEYAX - Volatility Comparison
High Income Securities Fund (PCF) has a higher volatility of 3.77% compared to Putnam Large Cap Value Fund (PEYAX) at 3.08%. This indicates that PCF's price experiences larger fluctuations and is considered to be riskier than PEYAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PCF | PEYAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.77% | 3.08% | +0.69% |
Volatility (6M)Calculated over the trailing 6-month period | 10.55% | 8.43% | +2.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.94% | 11.04% | +0.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.05% | 14.67% | +1.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.54% | 17.01% | +0.53% |
Dividends
PCF vs. PEYAX - Dividend Comparison
PCF's dividend yield for the trailing twelve months is around 13.30%, more than PEYAX's 4.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PEYAX Putnam Large Cap Value Fund | 4.58% | 5.36% | 6.80% | 4.93% | 1.21% | 7.09% | 5.97% | 3.79% | 5.67% | 3.31% | 2.27% | 5.86% |
Frequently Asked Questions
PCF and PEYAX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PCF has higher volatility (3.77%) compared to PEYAX (3.08%). In terms of maximum drawdown, PCF dropped -53.82% vs PEYAX's -56.92%.
PEYAX currently has the higher Sharpe Ratio (2.47 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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