PCF vs. PSDYX
PCF (High Income Securities Fund) and PSDYX (Putnam Ultra Short Duration Income Fund) are both mutual funds - PCF is a Convertible Bonds fund actively managed by Putnam, while PSDYX is a Ultrashort Bond fund managed by Putnam. Over the past 10 years, PCF returned 5.49%/yr vs 2.53%/yr for PSDYX. Their 0.07 correlation means their historical movements had little consistent relationship.
Performance
PCF vs. PSDYX - 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 PSDYX's 1.68% return. Over the past 10 years, PCF has outperformed PSDYX with an annualized return of 5.49%, while PSDYX has yielded a comparatively lower 2.53% 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%
PSDYX
- 1D
- 0.00%
- 1M
- -0.10%
- 6M
- 1.31%
- YTD
- 1.68%
- 1Y
- 3.63%
- 3Y*
- 4.59%
- 5Y*
- 3.43%
- 10Y*
- 2.53%
- ALL TIME*
- 2.01%
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. PSDYX - 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% |
PSDYX Putnam Ultra Short Duration Income Fund | 1.68% | 4.99% | 5.25% | 4.78% | 0.61% | 0.07% | 1.50% | 2.86% | 1.95% | 1.40% |
Correlation
The correlation between PCF and PSDYX is 0.17, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.17 |
Correlation (3Y) Balances recent behavior with more history. | 0.12 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.11 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.09 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2012 | 0.07 |
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Return for Risk
PCF vs. PSDYX — Risk / Return Rank
PCF
PSDYX
PCF vs. PSDYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for High Income Securities Fund (PCF) and Putnam Ultra Short Duration Income Fund (PSDYX). 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 | PSDYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.61 | ||
| Sortino ratioReturn per unit of downside risk | -10.74 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 3.43 | -2.51 |
| Calmar ratioReturn relative to maximum drawdown | -0.60 | 8.46 | -9.06 |
| Martin ratioReturn relative to average drawdown | -1.26 | 41.33 | -42.59 |
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Drawdowns
PCF vs. PSDYX - Drawdown Comparison
The maximum PCF drawdown since its inception was -53.82%, which is greater than PSDYX's maximum drawdown of -2.58%. Use the drawdown chart below to compare losses from any high point for PCF and PSDYX.
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Drawdown Indicators
| PCF | PSDYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.82% | -2.58% | -51.24% |
Max Drawdown (1Y)Largest decline over 1 year | -10.73% | -0.49% | -10.24% |
Max Drawdown (3Y)Largest decline over 3 years | -13.74% | -0.49% | -13.25% |
Max Drawdown (5Y)Largest decline over 5 years | -29.06% | -0.80% | -28.26% |
Max Drawdown (10Y)Largest decline over 10 years | -45.13% | -2.58% | -42.55% |
Current DrawdownCurrent decline from peak | -9.67% | -0.10% | -9.57% |
Average DrawdownAverage peak-to-trough decline | -10.48% | -0.07% | -10.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.08% | 0.10% | +4.98% |
Volatility
PCF vs. PSDYX - Volatility Comparison
High Income Securities Fund (PCF) has a higher volatility of 3.77% compared to Putnam Ultra Short Duration Income Fund (PSDYX) at 0.17%. This indicates that PCF's price experiences larger fluctuations and is considered to be riskier than PSDYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PCF | PSDYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.77% | 0.17% | +3.60% |
Volatility (6M)Calculated over the trailing 6-month period | 10.55% | 0.93% | +9.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.94% | 1.36% | +10.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.05% | 1.31% | +14.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.54% | 1.06% | +16.48% |
Dividends
PCF vs. PSDYX - Dividend Comparison
PCF's dividend yield for the trailing twelve months is around 13.30%, more than PSDYX's 3.97% 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% |
PSDYX Putnam Ultra Short Duration Income Fund | 3.97% | 4.65% | 4.81% | 3.65% | 1.30% | 0.37% | 1.09% | 2.51% | 2.23% | 1.29% | 0.88% | 0.57% |
Frequently Asked Questions
PCF and PSDYX have a correlation of 0.17, 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 PSDYX (0.17%). In terms of maximum drawdown, PCF dropped -53.82% vs PSDYX's -2.58%.
PSDYX currently has the higher Sharpe Ratio (3.07 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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