PCM vs. PCRIX
PCM (PCM Fund Inc.) and PCRIX (PIMCO Commodity Real Return Strategy Fund) are both mutual funds - PCM is a Mortgage Backed Securities fund actively managed by PIMCO, while PCRIX is a Commodities fund managed by PIMCO. Over the past 10 years, PCM returned 5.03%/yr vs 7.53%/yr for PCRIX. At a 0.13 correlation, their price movements are largely independent.
Performance
PCM vs. PCRIX - Performance Comparison
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Returns By Period
In the year-to-date period, PCM achieves a -3.99% return, which is significantly lower than PCRIX's 14.49% return. Over the past 10 years, PCM has underperformed PCRIX with an annualized return of 5.03%, while PCRIX has yielded a comparatively higher 7.53% annualized return.
PCM
- 1D
- -0.36%
- 1M
- -1.35%
- YTD
- -3.99%
- 6M
- -2.72%
- 1Y
- -0.79%
- 3Y*
- -5.87%
- 5Y*
- -4.34%
- 10Y*
- 5.03%
PCRIX
- 1D
- -1.22%
- 1M
- -9.95%
- YTD
- 14.49%
- 6M
- 10.82%
- 1Y
- 25.12%
- 3Y*
- 14.10%
- 5Y*
- 10.75%
- 10Y*
- 7.53%
PCM vs. PCRIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PCM PCM Fund Inc. | -3.99% | -10.10% | 8.81% | 12.44% | -18.96% | 8.57% | 3.05% | 23.05% | -4.47% | 26.46% |
PCRIX PIMCO Commodity Real Return Strategy Fund | 14.49% | 17.05% | 10.59% | -5.91% | 8.94% | 33.35% | 0.79% | 12.29% | -13.77% | 2.71% |
Correlation
The correlation between PCM and PCRIX is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2002 | 0.13 |
The correlation between PCM and PCRIX shifts across timeframes, from -0.03 (1 year) to 0.13 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PCM vs. PCRIX — Risk / Return Rank
PCM
PCRIX
PCM vs. PCRIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PCM Fund Inc. (PCM) and PIMCO Commodity Real Return Strategy Fund (PCRIX). 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.
| PCM | PCRIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.43 | ||
| Sortino ratioReturn per unit of downside risk | -1.84 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.24 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.06 | 1.73 | -1.79 |
| Martin ratioReturn relative to average drawdown | -0.12 | 7.63 | -7.75 |
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Drawdowns
PCM vs. PCRIX - Drawdown Comparison
The maximum PCM drawdown since its inception was -64.88%, smaller than the maximum PCRIX drawdown of -82.24%. Use the drawdown chart below to compare losses from any high point for PCM and PCRIX.
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Drawdown Indicators
| PCM | PCRIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.88% | -82.24% | +17.36% |
Max Drawdown (1Y)Largest decline over 1 year | -12.81% | -12.92% | +0.11% |
Max Drawdown (3Y)Largest decline over 3 years | -29.62% | -12.92% | -16.70% |
Max Drawdown (5Y)Largest decline over 5 years | -29.62% | -34.44% | +4.82% |
Max Drawdown (10Y)Largest decline over 10 years | -47.69% | -39.07% | -8.62% |
Current DrawdownCurrent decline from peak | -22.67% | -45.00% | +22.33% |
Average DrawdownAverage peak-to-trough decline | -9.73% | -47.95% | +38.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.34% | 3.04% | +3.30% |
Volatility
PCM vs. PCRIX - Volatility Comparison
The current volatility for PCM Fund Inc. (PCM) is 2.16%, while PIMCO Commodity Real Return Strategy Fund (PCRIX) has a volatility of 3.80%. This indicates that PCM experiences smaller price fluctuations and is considered to be less risky than PCRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PCM | PCRIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.16% | 3.80% | -1.64% |
Volatility (6M)Calculated over the trailing 6-month period | 7.93% | 14.29% | -6.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.36% | 16.54% | -5.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.34% | 19.61% | +0.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.71% | 17.10% | +5.61% |
Dividends
PCM vs. PCRIX - Dividend Comparison
PCM's dividend yield for the trailing twelve months is around 13.97%, more than PCRIX's 10.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCM PCM Fund Inc. | 13.97% | 12.56% | 12.47% | 12.06% | 12.20% | 8.96% | 8.95% | 8.38% | 9.46% | 8.47% | 14.60% | 10.39% |
PCRIX PIMCO Commodity Real Return Strategy Fund | 10.58% | 5.61% | 8.34% | 6.57% | 46.23% | 22.74% | 1.56% | 4.00% | 5.94% | 8.14% | 0.91% | 5.29% |
Frequently Asked Questions
PCM and PCRIX have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PCRIX has higher volatility (3.80%) compared to PCM (2.16%). In terms of maximum drawdown, PCM dropped -64.88% vs PCRIX's -82.24%.
PCRIX currently has the higher Sharpe Ratio (1.36 vs -0.07), 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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