PCLAX vs. DBCMX

Last updated Jun 4, 2026

PCLAX (PIMCO CommoditiesPLUS Strategy Fund) and DBCMX (DoubleLine Strategic Commodity Fund) are both Commodities funds. Over the past 10 years, PCLAX returned 11.33%/yr vs 7.08%/yr for DBCMX. Their correlation of 0.82 suggests significant overlap in exposure. PCLAX charges 1.19%/yr vs 1.02%/yr for DBCMX.

Performance

PCLAX vs. DBCMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO CommoditiesPLUS Strategy Fund (PCLAX) and DoubleLine Strategic Commodity Fund (DBCMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PCLAX achieves a 36.60% return, which is significantly higher than DBCMX's 29.36% return. Over the past 10 years, PCLAX has outperformed DBCMX with an annualized return of 11.33%, while DBCMX has yielded a comparatively lower 7.08% annualized return.

PCLAX

• 1D: 0.57%
• 1M: -3.72%
• YTD: 36.60%
• 6M: 35.76%
• 1Y: 45.73%
• 3Y*: 16.64%
• 5Y*: 15.51%
• 10Y*: 11.33%

DBCMX

• 1D: 0.32%
• 1M: -0.85%
• YTD: 29.36%
• 6M: 30.72%
• 1Y: 37.84%
• 3Y*: 12.44%
• 5Y*: 9.83%
• 10Y*: 7.08%

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

PCLAX vs. DBCMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PCLAX PIMCO CommoditiesPLUS Strategy Fund	36.60%	4.13%	5.76%	-0.14%	22.73%	43.18%	-9.67%	19.19%	-12.47%	10.30%
DBCMX DoubleLine Strategic Commodity Fund	29.36%	6.10%	0.45%	-3.96%	13.40%	31.24%	-6.07%	4.78%	-10.65%	9.17%

Correlation

The correlation between PCLAX and DBCMX is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.82

The correlation between PCLAX and DBCMX has been stable across timeframes, ranging from 0.82 to 0.89 - a consistent structural relationship.

Return for Risk

PCLAX vs. DBCMX — Risk / Return Rank

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

PCLAX

PCLAX Risk / Return Rank: 74
PCLAX Sharpe Ratio Rank: 70
PCLAX Sortino Ratio Rank: 53
PCLAX Omega Ratio Rank: 59
PCLAX Calmar Ratio Rank: 97
PCLAX Martin Ratio Rank: 89

DBCMX

DBCMX Risk / Return Rank: 87
DBCMX Sharpe Ratio Rank: 87
DBCMX Sortino Ratio Rank: 78
DBCMX Omega Ratio Rank: 77
DBCMX Calmar Ratio Rank: 97
DBCMX Martin Ratio Rank: 97

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.

PCLAX vs. DBCMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO CommoditiesPLUS Strategy Fund (PCLAX) and DoubleLine Strategic Commodity Fund (DBCMX). 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.

	PCLAX	DBCMX	Difference
Sharpe ratio: Return per unit of total volatility	2.44	2.84	-0.40
Sortino ratio: Return per unit of downside risk	3.07	3.72	-0.64
Omega ratio: Gain probability vs. loss probability	1.43	1.50	-0.07
Calmar ratio: Return relative to maximum drawdown	6.83	7.09	-0.26
Martin ratio: Return relative to average drawdown	17.57	26.68	-9.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PCLAX vs. DBCMX - Sharpe Ratio Comparison

The current PCLAX Sharpe Ratio is 2.44, which is comparable to the DBCMX Sharpe Ratio of 2.84. The chart below compares the historical Sharpe Ratios of PCLAX and DBCMX, 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

	PCLAX	DBCMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.44	2.84	-0.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.60	+0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.28	0.48	-0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.53	-0.38

Drawdowns

PCLAX vs. DBCMX - Drawdown Comparison

The maximum PCLAX drawdown since its inception was -68.19%, which is greater than DBCMX's maximum drawdown of -37.62%. Use the drawdown chart below to compare losses from any high point for PCLAX and DBCMX.

Drawdown Indicators

	PCLAX	DBCMX	Difference
Max Drawdown Largest peak-to-trough decline	-68.19%	-37.62%	-30.57%
Max Drawdown (1Y) Largest decline over 1 year	-6.93%	-5.48%	-1.45%
Max Drawdown (3Y) Largest decline over 3 years	-13.76%	-14.75%	+0.99%
Max Drawdown (5Y) Largest decline over 5 years	-21.75%	-27.60%	+5.85%
Max Drawdown (10Y) Largest decline over 10 years	-52.00%	-37.62%	-14.38%
Current Drawdown Current decline from peak	-4.77%	-3.51%	-1.26%
Average Drawdown Average peak-to-trough decline	-25.66%	-13.27%	-12.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.69%	1.45%	+1.24%

Volatility

PCLAX vs. DBCMX - Volatility Comparison

PIMCO CommoditiesPLUS Strategy Fund (PCLAX) has a higher volatility of 6.95% compared to DoubleLine Strategic Commodity Fund (DBCMX) at 5.92%. This indicates that PCLAX's price experiences larger fluctuations and is considered to be riskier than DBCMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PCLAX	DBCMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.95%	5.92%	+1.03%
Volatility (6M) Calculated over the trailing 6-month period	16.84%	12.23%	+4.61%
Volatility (1Y) Calculated over the trailing 1-year period	19.49%	13.71%	+5.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.53%	16.33%	+3.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.66%	14.64%	+26.02%

PCLAX vs. DBCMX - Expense Ratio Comparison

PCLAX has a 1.19% expense ratio, which is higher than DBCMX's 1.02% expense ratio.

Dividends

PCLAX vs. DBCMX - Dividend Comparison

PCLAX's dividend yield for the trailing twelve months is around 1.24%, less than DBCMX's 2.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBCMX DoubleLine Strategic Commodity Fund	2.35%	3.04%	2.89%	3.30%	46.88%	13.53%	0.00%	1.04%	1.21%	5.23%	0.51%	0.00%
PCLAX PIMCO CommoditiesPLUS Strategy Fund	1.24%	1.20%	5.20%	4.58%	44.24%	75.67%	0.45%	2.07%	18.31%	12.18%	0.09%	1.77%

Frequently Asked Questions

Can I hold both PCLAX and DBCMX in my portfolio?

PCLAX and DBCMX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PCLAX or DBCMX?

PCLAX has higher volatility (6.95%) compared to DBCMX (5.92%). In terms of maximum drawdown, PCLAX dropped -68.19% vs DBCMX's -37.62%.

Which has better risk-adjusted returns?

DBCMX currently has the higher Sharpe Ratio (2.84 vs 2.44), 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.