PCFI vs. LONZ

Last updated Jul 24, 2026

PCFI (Polen Floating Rate Income ETF) and LONZ (PIMCO Senior Loan Active Exchange-Traded Fund) are both Bank Loan funds. Both are actively managed. Over the past year, PCFI returned -0.62% vs 4.51% for LONZ. At a 0.28 correlation, their price movements are largely independent. PCFI charges 0.49%/yr vs 0.62%/yr for LONZ.

Performance

PCFI vs. LONZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Polen Floating Rate Income ETF (PCFI) and PIMCO Senior Loan Active Exchange-Traded Fund (LONZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PCFI achieves a 1.10% return, which is significantly lower than LONZ's 2.22% return.

PCFI

• 1D: 0.04%
• 1M: 1.24%
• 6M: -0.06%
• YTD: 1.10%
• 1Y: -0.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 2.05%

LONZ

• 1D: -0.16%
• 1M: 0.46%
• 6M: 1.48%
• YTD: 2.22%
• 1Y: 4.51%
• 3Y*: 7.37%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.26%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
LONZ PIMCO Senior Loan Active Exchange-Traded Fund	$2.47M	$2.40M	$5.83M
PCFI Polen Floating Rate Income ETF	$2.22K	$2.75K	$57.49K

PCFI vs. LONZ - Yearly Performance Comparison

	2026 (YTD)	2025
PCFI Polen Floating Rate Income ETF	1.10%	1.62%
LONZ PIMCO Senior Loan Active Exchange-Traded Fund	2.22%	5.28%

Correlation

The correlation between PCFI and LONZ is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (All Time) Calculated using the full available price history since Mar 24, 2025	0.28

Return for Risk

PCFI vs. LONZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PCFI

PCFI Risk / Return Rank: 10
PCFI Sharpe Ratio Rank: 11
PCFI Sortino Ratio Rank: 10
PCFI Omega Ratio Rank: 10
PCFI Calmar Ratio Rank: 10
PCFI Martin Ratio Rank: 11

LONZ

LONZ Risk / Return Rank: 77
LONZ Sharpe Ratio Rank: 82
LONZ Sortino Ratio Rank: 82
LONZ Omega Ratio Rank: 92
LONZ Calmar Ratio Rank: 60
LONZ Martin Ratio Rank: 70

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.

PCFI vs. LONZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Polen Floating Rate Income ETF (PCFI) and PIMCO Senior Loan Active Exchange-Traded Fund (LONZ). 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.

	PCFI	LONZ	Difference
Sharpe ratio: Return per unit of total volatility	-0.11	1.98	-2.09
Sortino ratio: Return per unit of downside risk	-0.10	2.76	-2.86
Omega ratio: Gain probability vs. loss probability	0.99	1.46	-0.47
Calmar ratio: Return relative to maximum drawdown	-0.15	2.23	-2.38
Martin ratio: Return relative to average drawdown	-0.27	9.20	-9.47

PCFI vs. LONZ - Sharpe Ratio Comparison

The current PCFI Sharpe Ratio is -0.11, which is lower than the LONZ Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of PCFI and LONZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PCFI vs. LONZ - Drawdown Comparison

The maximum PCFI drawdown since its inception was -4.01%, roughly equal to the maximum LONZ drawdown of -4.19%. Use the drawdown chart below to compare losses from any high point for PCFI and LONZ.

Drawdown Indicators

	PCFI	LONZ	Difference
Max Drawdown Largest peak-to-trough decline	-4.01%	-4.19%	+0.18%
Max Drawdown (1Y) Largest decline over 1 year	-4.01%	-2.03%	-1.98%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.19%	—
Current Drawdown Current decline from peak	-1.40%	-0.18%	-1.22%
Average Drawdown Average peak-to-trough decline	-1.76%	-0.46%	-1.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.27%	0.49%	+1.78%

Volatility

PCFI vs. LONZ - Volatility Comparison

Polen Floating Rate Income ETF (PCFI) has a higher volatility of 1.14% compared to PIMCO Senior Loan Active Exchange-Traded Fund (LONZ) at 0.35%. This indicates that PCFI's price experiences larger fluctuations and is considered to be riskier than LONZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PCFI	LONZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.14%	0.35%	+0.79%
Volatility (6M) Calculated over the trailing 6-month period	4.25%	1.98%	+2.27%
Volatility (1Y) Calculated over the trailing 1-year period	5.87%	2.28%	+3.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.04%	3.18%	+3.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.04%	3.18%	+3.86%

PCFI vs. LONZ - Expense Ratio Comparison

PCFI has a 0.49% expense ratio, which is lower than LONZ's 0.62% expense ratio.

Dividends

PCFI vs. LONZ - Dividend Comparison

PCFI's dividend yield for the trailing twelve months is around 9.57%, more than LONZ's 8.34% yield.

Position	TTM	2025	2024	2023	2022
LONZ PIMCO Senior Loan Active Exchange-Traded Fund	8.34%	6.60%	8.16%	8.29%	3.33%
PCFI Polen Floating Rate Income ETF	9.57%	7.83%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PCFI and LONZ in my portfolio?

PCFI and LONZ have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PCFI or LONZ?

PCFI has higher volatility (1.14%) compared to LONZ (0.35%). In terms of maximum drawdown, PCFI dropped -4.01% vs LONZ's -4.19%.

Which ETF is better, PCFI or LONZ?

On 1-year performance, LONZ leads with 4.51% vs -0.62% for PCFI. On fees, PCFI is cheaper at 0.49% per year. On volatility, LONZ has been the lower-risk option at 0.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PCFI or LONZ?

Over the 1-year period, LONZ has performed better with a 4.51% return vs -0.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PCFI or LONZ?

PCFI is cheaper with a 0.49% expense ratio, compared with 0.62% for LONZ.

Which ETF pays a higher dividend yield, PCFI or LONZ?

PCFI has the higher dividend yield at 9.57%, compared with 8.34% for LONZ.

What is the main difference between PCFI and LONZ?

They also come from different issuers: Polen and PIMCO. Their fees differ too: 0.49% for PCFI and 0.62% for LONZ.

Which has better risk-adjusted returns?

LONZ currently has the higher Sharpe Ratio (1.98 vs -0.11), 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.