PCF vs. PGTYX
PCF (High Income Securities Fund) and PGTYX (Putnam Global Technology Fund) are both mutual funds - PCF is a Convertible Bonds fund actively managed by Putnam, while PGTYX is a Technology Equities fund managed by Putnam. Over the past 10 years, PCF returned 5.49%/yr vs 23.63%/yr for PGTYX. Their 0.36 correlation means their historical movements had little consistent relationship.
Performance
PCF vs. PGTYX - 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 PGTYX's 24.87% return. Over the past 10 years, PCF has underperformed PGTYX with an annualized return of 5.49%, while PGTYX has yielded a comparatively higher 23.63% 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%
PGTYX
- 1D
- 5.46%
- 1M
- -4.06%
- 6M
- 23.41%
- YTD
- 24.87%
- 1Y
- 39.74%
- 3Y*
- 28.57%
- 5Y*
- 15.58%
- 10Y*
- 23.63%
- ALL TIME*
- 20.24%
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. PGTYX - 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% |
PGTYX Putnam Global Technology Fund | 24.87% | 23.31% | 27.88% | 53.82% | -32.30% | 11.72% | 70.92% | 47.50% | -6.72% | 47.05% |
Correlation
The correlation between PCF and PGTYX is 0.44, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.44 |
Correlation (3Y) Balances recent behavior with more history. | 0.32 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.37 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.34 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2008 | 0.36 |
The correlation between PCF and PGTYX shifts across timeframes, from 0.32 (3 years) to 0.44 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PCF vs. PGTYX — Risk / Return Rank
PCF
PGTYX
PCF vs. PGTYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for High Income Securities Fund (PCF) and Putnam Global Technology Fund (PGTYX). 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 | PGTYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.88 | ||
| Sortino ratioReturn per unit of downside risk | -2.53 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.24 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.60 | 2.00 | -2.60 |
| Martin ratioReturn relative to average drawdown | -1.26 | 6.28 | -7.54 |
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Drawdowns
PCF vs. PGTYX - Drawdown Comparison
The maximum PCF drawdown since its inception was -53.82%, which is greater than PGTYX's maximum drawdown of -42.09%. Use the drawdown chart below to compare losses from any high point for PCF and PGTYX.
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Drawdown Indicators
| PCF | PGTYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.82% | -42.09% | -11.73% |
Max Drawdown (1Y)Largest decline over 1 year | -10.73% | -17.94% | +7.21% |
Max Drawdown (3Y)Largest decline over 3 years | -13.74% | -28.36% | +14.62% |
Max Drawdown (5Y)Largest decline over 5 years | -29.06% | -42.09% | +13.03% |
Max Drawdown (10Y)Largest decline over 10 years | -45.13% | -42.09% | -3.04% |
Current DrawdownCurrent decline from peak | -9.67% | -13.46% | +3.79% |
Average DrawdownAverage peak-to-trough decline | -10.48% | -6.63% | -3.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.08% | 5.70% | -0.62% |
Volatility
PCF vs. PGTYX - Volatility Comparison
The current volatility for High Income Securities Fund (PCF) is 3.77%, while Putnam Global Technology Fund (PGTYX) has a volatility of 10.48%. This indicates that PCF experiences smaller price fluctuations and is considered to be less risky than PGTYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PCF | PGTYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.77% | 10.48% | -6.71% |
Volatility (6M)Calculated over the trailing 6-month period | 10.55% | 23.11% | -12.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.94% | 26.81% | -14.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.05% | 25.89% | -9.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.54% | 24.53% | -6.99% |
Dividends
PCF vs. PGTYX - Dividend Comparison
PCF's dividend yield for the trailing twelve months is around 13.30%, more than PGTYX's 8.67% 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% |
PGTYX Putnam Global Technology Fund | 8.67% | 10.83% | 6.40% | 0.57% | 1.71% | 21.15% | 13.60% | 2.63% | 9.44% | 6.75% | 1.01% | 4.56% |
Frequently Asked Questions
PCF and PGTYX have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PGTYX has higher volatility (10.48%) compared to PCF (3.77%). In terms of maximum drawdown, PCF dropped -53.82% vs PGTYX's -42.09%.
PGTYX currently has the higher Sharpe Ratio (1.34 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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