PCFIX vs. USBNX

Last updated Jun 3, 2026

PCFIX (PIMCO RAE PLUS Small Fund) and USBNX (Pear Tree Polaris Small Cap Fund) are both Small Cap Value Equities funds. Over the past 10 years, PCFIX returned 13.78%/yr vs 7.72%/yr for USBNX. Their correlation of 0.92 suggests significant overlap in exposure. PCFIX charges 0.85%/yr vs 1.50%/yr for USBNX.

Performance

PCFIX vs. USBNX - Performance Comparison

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

Returns By Period

In the year-to-date period, PCFIX achieves a 17.08% return, which is significantly higher than USBNX's 10.70% return. Over the past 10 years, PCFIX has outperformed USBNX with an annualized return of 13.78%, while USBNX has yielded a comparatively lower 7.72% annualized return.

PCFIX

• 1D: 1.15%
• 1M: 4.71%
• YTD: 17.08%
• 6M: 17.14%
• 1Y: 38.35%
• 3Y*: 22.33%
• 5Y*: 8.42%
• 10Y*: 13.78%

USBNX

• 1D: -0.42%
• 1M: 0.74%
• YTD: 10.70%
• 6M: 12.15%
• 1Y: 21.65%
• 3Y*: 13.69%
• 5Y*: 5.18%
• 10Y*: 7.72%

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

PCFIX vs. USBNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PCFIX PIMCO RAE PLUS Small Fund	17.08%	6.78%	20.88%	18.04%	-12.46%	39.43%	9.77%	21.53%	-12.19%	12.90%
USBNX Pear Tree Polaris Small Cap Fund	10.70%	8.02%	8.64%	12.83%	-5.09%	15.35%	-4.77%	23.53%	-11.05%	6.42%

Correlation

The correlation between PCFIX and USBNX is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Oct 4, 2011	0.92

The correlation between PCFIX and USBNX has been stable across timeframes, ranging from 0.87 to 0.92 - a consistent structural relationship.

Return for Risk

PCFIX vs. USBNX — Risk / Return Rank

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

PCFIX

PCFIX Risk / Return Rank: 61
PCFIX Sharpe Ratio Rank: 53
PCFIX Sortino Ratio Rank: 52
PCFIX Omega Ratio Rank: 44
PCFIX Calmar Ratio Rank: 87
PCFIX Martin Ratio Rank: 71

USBNX

USBNX Risk / Return Rank: 25
USBNX Sharpe Ratio Rank: 24
USBNX Sortino Ratio Rank: 26
USBNX Omega Ratio Rank: 23
USBNX Calmar Ratio Rank: 29
USBNX Martin Ratio Rank: 25

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. USBNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO RAE PLUS Small Fund (PCFIX) and Pear Tree Polaris Small Cap Fund (USBNX). 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	USBNX	Difference
Sharpe ratio Return per unit of total volatility	2.14	1.42	+0.72
Sortino ratio Return per unit of downside risk	3.04	2.18	+0.86
Omega ratio Gain probability vs. loss probability	1.36	1.26	+0.11
Calmar ratio Return relative to maximum drawdown	4.22	2.08	+2.15
Martin ratio Return relative to average drawdown	13.65	6.40	+7.25
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. USBNX - Sharpe Ratio Comparison

The current PCFIX Sharpe Ratio is 2.14, which is higher than the USBNX Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of PCFIX and USBNX, 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	USBNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	1.42	+0.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	0.28	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.36	+0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.39	+0.26

Drawdowns

PCFIX vs. USBNX - Drawdown Comparison

The maximum PCFIX drawdown since its inception was -52.02%, smaller than the maximum USBNX drawdown of -64.40%. Use the drawdown chart below to compare losses from any high point for PCFIX and USBNX.

Drawdown Indicators

	PCFIX	USBNX	Difference
Max Drawdown Largest peak-to-trough decline	-52.02%	-64.40%	+12.38%
Max Drawdown (1Y) Largest decline over 1 year	-8.87%	-9.19%	+0.32%
Max Drawdown (3Y) Largest decline over 3 years	-28.08%	-21.56%	-6.52%
Max Drawdown (5Y) Largest decline over 5 years	-28.76%	-26.01%	-2.75%
Max Drawdown (10Y) Largest decline over 10 years	-52.02%	-46.96%	-5.06%
Current Drawdown Current decline from peak	0.00%	-1.15%	+1.15%
Average Drawdown Average peak-to-trough decline	-7.85%	-13.64%	+5.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	2.98%	-0.23%

Volatility

PCFIX vs. USBNX - Volatility Comparison

PIMCO RAE PLUS Small Fund (PCFIX) has a higher volatility of 5.61% compared to Pear Tree Polaris Small Cap Fund (USBNX) at 3.58%. This indicates that PCFIX's price experiences larger fluctuations and is considered to be riskier than USBNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PCFIX	USBNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.61%	3.58%	+2.03%
Volatility (6M) Calculated over the trailing 6-month period	12.25%	9.23%	+3.02%
Volatility (1Y) Calculated over the trailing 1-year period	17.79%	14.85%	+2.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.23%	18.77%	+4.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.86%	21.66%	+3.20%

PCFIX vs. USBNX - Expense Ratio Comparison

PCFIX has a 0.85% expense ratio, which is lower than USBNX's 1.50% expense ratio.

Dividends

PCFIX vs. USBNX - Dividend Comparison

PCFIX's dividend yield for the trailing twelve months is around 2.55%, less than USBNX's 12.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PCFIX PIMCO RAE PLUS Small Fund	2.55%	2.24%	6.12%	2.12%	13.29%	224.73%	18.00%	2.63%	12.78%	9.33%	0.00%	26.50%
USBNX Pear Tree Polaris Small Cap Fund	12.48%	13.81%	3.27%	0.86%	10.05%	0.75%	0.68%	7.91%	8.39%	6.21%	1.17%	7.39%

Frequently Asked Questions

Can I hold both PCFIX and USBNX in my portfolio?

PCFIX and USBNX have a correlation of 0.87, 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 USBNX?

PCFIX has higher volatility (5.61%) compared to USBNX (3.58%). In terms of maximum drawdown, PCFIX dropped -52.02% vs USBNX's -64.40%.

Which has better risk-adjusted returns?

PCFIX currently has the higher Sharpe Ratio (2.14 vs 1.42), 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.