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PCFAX vs. FESCX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PCFAX vs. FESCX

Last updated Jun 24, 2026

PCFAX (PIMCO RAE PLUS Small Fund) and FESCX (First Eagle Small Cap Opportunity Fund) are both Small Cap Value Equities funds. Over the past 3 years, PCFAX returned 22.38%/yr vs 19.54%/yr for FESCX. Their correlation of 0.93 suggests significant overlap in exposure. PCFAX charges 1.21%/yr vs 1.00%/yr for FESCX.

Performance

PCFAX vs. FESCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO RAE PLUS Small Fund (PCFAX) and First Eagle Small Cap Opportunity Fund (FESCX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, PCFAX achieves a 19.22% return, which is significantly lower than FESCX's 30.84% return.

PCFAX

1D
0.05%
1M
5.78%
YTD
19.22%
6M
16.75%
1Y
38.23%
3Y*
22.38%
5Y*
8.88%
10Y*
13.81%

FESCX

1D
0.33%
1M
6.97%
YTD
30.84%
6M
28.19%
1Y
53.31%
3Y*
19.54%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

PCFAX vs. FESCX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
PCFAX
PIMCO RAE PLUS Small Fund		19.22%6.44%20.44%17.64%-12.75%1.83%
FESCX
First Eagle Small Cap Opportunity Fund		30.84%13.33%6.47%16.75%-14.05%1.23%

Correlation

The correlation between PCFAX and FESCX is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.89

Correlation (3Y)
Calculated over the trailing 3-year period

0.91

Correlation (All Time)
Calculated using the full available price history since Jul 14, 2021

0.93

The correlation between PCFAX and FESCX has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.

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PIMCO RAE PLUS Small Fund

First Eagle Small Cap Opportunity Fund

Often compared with PCFAX:
PCFAX vs. VOOPCFAX vs. MMEYXPCFAX vs. NSDVXPCFAX vs. USBNXPCFAX vs. HRTVXPCFAX vs. FCPVXPCFAX vs. AVALX
Often compared with FESCX:
FESCX vs. XSMOFESCX vs. PXSGXFESCX vs. VBRFESCX vs. PMAQXFESCX vs. AVUVFESCX vs. SGIIXFESCX vs. FEURX

Return for Risk

PCFAX vs. FESCX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PCFAX
PCFAX Risk / Return Rank: 7474
Overall Rank
PCFAX Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
PCFAX Sortino Ratio Rank: 6969
Sortino Ratio Rank
PCFAX Omega Ratio Rank: 5555
Omega Ratio Rank
PCFAX Calmar Ratio Rank: 9191
Calmar Ratio Rank
PCFAX Martin Ratio Rank: 8484
Martin Ratio Rank
FESCX
FESCX Risk / Return Rank: 8989
Overall Rank
FESCX Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
FESCX Sortino Ratio Rank: 8686
Sortino Ratio Rank
FESCX Omega Ratio Rank: 7878
Omega Ratio Rank
FESCX Calmar Ratio Rank: 9595
Calmar Ratio Rank
FESCX Martin Ratio Rank: 9494
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PCFAX vs. FESCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO RAE PLUS Small Fund (PCFAX) and First Eagle Small Cap Opportunity Fund (FESCX). 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.

PCFAXFESCXDifference
Sharpe ratioReturn per unit of total volatility
2.24
2.79

-0.54

Sortino ratioReturn per unit of downside risk
3.16
3.78

-0.62

Omega ratioGain probability vs. loss probability

1.38

1.46

-0.08

Calmar ratioReturn relative to maximum drawdown

4.53

5.38

-0.85

Martin ratioReturn relative to average drawdown

14.62

19.37

-4.76

PCFAX vs. FESCX - Sharpe Ratio Comparison

The current PCFAX Sharpe Ratio is 2.24, which is comparable to the FESCX Sharpe Ratio of 2.79. The chart below compares the historical Sharpe Ratios of PCFAX and FESCX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

PCFAX vs. FESCX - Drawdown Comparison

The maximum PCFAX drawdown since its inception was -52.29%, which is greater than FESCX's maximum drawdown of -28.53%. Use the drawdown chart below to compare losses from any high point for PCFAX and FESCX.

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Drawdown Indicators

PCFAXFESCXDifference

Max Drawdown

Largest peak-to-trough decline

-52.29%

-28.53%

-23.76%

Max Drawdown (1Y)

Largest decline over 1 year

-8.94%

-10.26%

+1.32%

Max Drawdown (3Y)

Largest decline over 3 years

-28.18%

-28.53%

+0.35%

Max Drawdown (5Y)

Largest decline over 5 years

-28.91%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-52.29%

—

—

Current Drawdown

Current decline from peak

-1.85%

0.00%

-1.85%

Average Drawdown

Average peak-to-trough decline

-9.08%

-8.75%

-0.33%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.76%

2.84%

-0.08%

Volatility

PCFAX vs. FESCX - Volatility Comparison

The current volatility for PIMCO RAE PLUS Small Fund (PCFAX) is 5.71%, while First Eagle Small Cap Opportunity Fund (FESCX) has a volatility of 6.39%. This indicates that PCFAX experiences smaller price fluctuations and is considered to be less risky than FESCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PCFAXFESCXDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.71%

6.39%

-0.68%

Volatility (6M)

Calculated over the trailing 6-month period

12.80%

14.18%

-1.38%

Volatility (1Y)

Calculated over the trailing 1-year period

18.11%

19.83%

-1.72%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.14%

22.67%

+0.47%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.90%

22.67%

+2.23%

PCFAX vs. FESCX - Expense Ratio Comparison

PCFAX has a 1.21% expense ratio, which is higher than FESCX's 1.00% expense ratio.

Dividends

PCFAX vs. FESCX - Dividend Comparison

PCFAX's dividend yield for the trailing twelve months is around 4.11%, more than FESCX's 0.79% yield.

PositionTTM20252024202320222021202020192018201720162015
FESCX
First Eagle Small Cap Opportunity Fund		0.79%1.03%1.56%0.60%0.11%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
PCFAX
PIMCO RAE PLUS Small Fund		4.11%2.26%6.30%1.99%13.66%235.35%18.04%2.29%12.48%8.98%0.00%26.20%

Frequently Asked Questions

PCFAX and FESCX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FESCX has higher volatility (6.39%) compared to PCFAX (5.71%). In terms of maximum drawdown, PCFAX dropped -52.29% vs FESCX's -28.53%.

FESCX currently has the higher Sharpe Ratio (2.79 vs 2.24), 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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