PCFIX vs. PEFIX

Last updated Jun 4, 2026

PCFIX (PIMCO RAE PLUS Small Fund) and PEFIX (PIMCO RAE PLUS EMG Fund) are both mutual funds - PCFIX is a Small Cap Value Equities fund managed by PIMCO, while PEFIX is a Emerging Markets Diversified fund managed by PIMCO. Over the past 10 years, PCFIX returned 13.98%/yr vs 13.24%/yr for PEFIX. At a 0.38 correlation, their price movements are largely independent. PCFIX charges 0.85%/yr vs 1.10%/yr for PEFIX.

Performance

PCFIX vs. PEFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO RAE PLUS Small Fund (PCFIX) and PIMCO RAE PLUS EMG Fund (PEFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PCFIX achieves a 19.19% return, which is significantly lower than PEFIX's 24.22% return. Over the past 10 years, PCFIX has outperformed PEFIX with an annualized return of 13.98%, while PEFIX has yielded a comparatively lower 13.24% annualized return.

PCFIX

• 1D: 1.80%
• 1M: 8.04%
• YTD: 19.19%
• 6M: 17.51%
• 1Y: 39.07%
• 3Y*: 23.06%
• 5Y*: 9.08%
• 10Y*: 13.98%

PEFIX

• 1D: 0.98%
• 1M: 7.52%
• YTD: 24.22%
• 6M: 24.22%
• 1Y: 48.19%
• 3Y*: 23.82%
• 5Y*: 10.12%
• 10Y*: 13.24%

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

PCFIX vs. PEFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PCFIX PIMCO RAE PLUS Small Fund	19.19%	6.78%	20.88%	18.04%	-12.46%	39.43%	9.77%	21.53%	-12.19%	12.90%
PEFIX PIMCO RAE PLUS EMG Fund	24.22%	27.34%	7.08%	20.00%	-16.85%	20.69%	5.27%	14.80%	-13.51%	31.80%

Correlation

The correlation between PCFIX and PEFIX 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 (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.36
Correlation (All Time) Calculated using the full available price history since Oct 4, 2011	0.38

The correlation between PCFIX and PEFIX shifts across timeframes, from 0.27 (1 year) to 0.38 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PCFIX vs. PEFIX — Risk / Return Rank

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

PCFIX

PCFIX Risk / Return Rank: 68
PCFIX Sharpe Ratio Rank: 62
PCFIX Sortino Ratio Rank: 60
PCFIX Omega Ratio Rank: 51
PCFIX Calmar Ratio Rank: 90
PCFIX Martin Ratio Rank: 80

PEFIX

PEFIX Risk / Return Rank: 89
PEFIX Sharpe Ratio Rank: 95
PEFIX Sortino Ratio Rank: 90
PEFIX Omega Ratio Rank: 87
PEFIX Calmar Ratio Rank: 87
PEFIX Martin Ratio Rank: 84

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.

PCFIX vs. PEFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO RAE PLUS Small Fund (PCFIX) and PIMCO RAE PLUS EMG Fund (PEFIX). 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.

	PCFIX	PEFIX	Difference
Sharpe ratio Return per unit of total volatility	2.31	3.38	-1.06
Sortino ratio Return per unit of downside risk	3.25	4.37	-1.11
Omega ratio Gain probability vs. loss probability	1.39	1.61	-0.22
Calmar ratio Return relative to maximum drawdown	4.65	4.19	+0.45
Martin ratio Return relative to average drawdown	14.96	15.98	-1.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PCFIX vs. PEFIX - Sharpe Ratio Comparison

The current PCFIX Sharpe Ratio is 2.31, which is lower than the PEFIX Sharpe Ratio of 3.38. The chart below compares the historical Sharpe Ratios of PCFIX and PEFIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PCFIX	PEFIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.31	3.38	-1.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.65	-0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.79	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.66	-0.01

Drawdowns

PCFIX vs. PEFIX - Drawdown Comparison

The maximum PCFIX drawdown since its inception was -52.02%, roughly equal to the maximum PEFIX drawdown of -51.44%. Use the drawdown chart below to compare losses from any high point for PCFIX and PEFIX.

Drawdown Indicators

	PCFIX	PEFIX	Difference
Max Drawdown Largest peak-to-trough decline	-52.02%	-51.44%	-0.58%
Max Drawdown (1Y) Largest decline over 1 year	-8.87%	-11.86%	+2.99%
Max Drawdown (3Y) Largest decline over 3 years	-28.08%	-20.78%	-7.30%
Max Drawdown (5Y) Largest decline over 5 years	-28.76%	-32.17%	+3.41%
Max Drawdown (10Y) Largest decline over 10 years	-52.02%	-51.44%	-0.58%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.85%	-11.94%	+4.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.74%	3.10%	-0.36%

Volatility

PCFIX vs. PEFIX - Volatility Comparison

PIMCO RAE PLUS Small Fund (PCFIX) has a higher volatility of 5.81% compared to PIMCO RAE PLUS EMG Fund (PEFIX) at 5.04%. This indicates that PCFIX's price experiences larger fluctuations and is considered to be riskier than PEFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PCFIX	PEFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.81%	5.04%	+0.77%
Volatility (6M) Calculated over the trailing 6-month period	12.34%	12.40%	-0.06%
Volatility (1Y) Calculated over the trailing 1-year period	17.83%	14.72%	+3.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.21%	15.63%	+7.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.87%	16.85%	+8.02%

PCFIX vs. PEFIX - Expense Ratio Comparison

PCFIX has a 0.85% expense ratio, which is lower than PEFIX's 1.10% expense ratio.

Dividends

PCFIX vs. PEFIX - Dividend Comparison

PCFIX's dividend yield for the trailing twelve months is around 2.51%, less than PEFIX's 3.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PCFIX PIMCO RAE PLUS Small Fund	2.51%	2.24%	6.12%	2.12%	13.29%	224.73%	18.00%	2.63%	12.78%	9.33%	0.00%	26.50%
PEFIX PIMCO RAE PLUS EMG Fund	3.62%	3.73%	9.33%	2.11%	18.29%	46.03%	8.19%	0.38%	4.76%	7.08%	4.48%	0.00%

Frequently Asked Questions

Can I hold both PCFIX and PEFIX in my portfolio?

PCFIX and PEFIX 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, PCFIX or PEFIX?

PCFIX has higher volatility (5.81%) compared to PEFIX (5.04%). In terms of maximum drawdown, PCFIX dropped -52.02% vs PEFIX's -51.44%.

Which has better risk-adjusted returns?

PEFIX currently has the higher Sharpe Ratio (3.38 vs 2.31), 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.