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PCM vs. PMJIX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PCM vs. PMJIX

Last updated Jun 23, 2026

PCM (PCM Fund Inc.) and PMJIX (PIMCO RAE US Small Fund) are both mutual funds - PCM is a Mortgage Backed Securities fund actively managed by PIMCO, while PMJIX is a Small Cap Value Equities fund managed by PIMCO. Over the past 10 years, PCM returned 5.00%/yr vs 13.75%/yr for PMJIX. At a 0.25 correlation, their price movements are largely independent.

Performance

PCM vs. PMJIX - Performance Comparison

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

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Returns By Period

In the year-to-date period, PCM achieves a -4.34% return, which is significantly lower than PMJIX's 19.00% return. Over the past 10 years, PCM has underperformed PMJIX with an annualized return of 5.00%, while PMJIX has yielded a comparatively higher 13.75% annualized return.

PCM

1D
-0.36%
1M
-1.70%
YTD
-4.34%
6M
-3.71%
1Y
-0.38%
3Y*
-5.99%
5Y*
-4.33%
10Y*
5.00%

PMJIX

1D
0.80%
1M
4.53%
YTD
19.00%
6M
15.62%
1Y
37.25%
3Y*
21.25%
5Y*
11.93%
10Y*
13.75%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PCM vs. PMJIX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PCM
PCM Fund Inc.		-4.34%-10.10%8.81%12.44%-18.96%8.57%3.05%23.05%-4.47%26.46%
PMJIX
PIMCO RAE US Small Fund		19.00%5.11%22.05%19.77%-4.62%39.15%6.95%20.22%-11.69%9.22%

Correlation

The correlation between PCM and PMJIX is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.30

Correlation (3Y)
Calculated over the trailing 3-year period

0.22

Correlation (5Y)
Calculated over the trailing 5-year period

0.26

Correlation (10Y)
Calculated over the trailing 10-year period

0.24

Correlation (All Time)
Calculated using the full available price history since Jun 5, 2015

0.25

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PCM Fund Inc.

PIMCO RAE US Small Fund

Often compared with PCM:
PCM vs. JLSPCM vs. VWTAXPCM vs. PRXAXPCM vs. FMYPCM vs. VUSSXPCM vs. PONAXPCM vs. PIMIX
Often compared with PMJIX:
PMJIX vs. FSSNXPMJIX vs. DEVLXPMJIX vs. FFLEXPMJIX vs. DAABXPMJIX vs. VSMAXPMJIX vs. CCASXPMJIX vs. FXAIX

Return for Risk

PCM vs. PMJIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PCM
PCM Risk / Return Rank: 33
Overall Rank
PCM Sharpe Ratio Rank: 33
Sharpe Ratio Rank
PCM Sortino Ratio Rank: 22
Sortino Ratio Rank
PCM Omega Ratio Rank: 22
Omega Ratio Rank
PCM Calmar Ratio Rank: 33
Calmar Ratio Rank
PCM Martin Ratio Rank: 33
Martin Ratio Rank
PMJIX
PMJIX Risk / Return Rank: 7272
Overall Rank
PMJIX Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
PMJIX Sortino Ratio Rank: 6565
Sortino Ratio Rank
PMJIX Omega Ratio Rank: 5252
Omega Ratio Rank
PMJIX Calmar Ratio Rank: 9393
Calmar Ratio Rank
PMJIX Martin Ratio Rank: 8484
Martin Ratio Rank
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.

PCM vs. PMJIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PCM Fund Inc. (PCM) and PIMCO RAE US Small Fund (PMJIX). 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.

PCMPMJIXDifference
Sharpe ratioReturn per unit of total volatility
-0.03
2.16

-2.19

Sortino ratioReturn per unit of downside risk
0.03
3.06

-3.03

Omega ratioGain probability vs. loss probability

1.00

1.36

-0.36

Calmar ratioReturn relative to maximum drawdown

-0.03

4.90

-4.93

Martin ratioReturn relative to average drawdown

-0.06

14.55

-14.61

PCM vs. PMJIX - Sharpe Ratio Comparison

The current PCM Sharpe Ratio is -0.03, which is lower than the PMJIX Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of PCM and PMJIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

PCM vs. PMJIX - Drawdown Comparison

The maximum PCM drawdown since its inception was -64.88%, which is greater than PMJIX's maximum drawdown of -49.75%. Use the drawdown chart below to compare losses from any high point for PCM and PMJIX.

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Drawdown Indicators

PCMPMJIXDifference

Max Drawdown

Largest peak-to-trough decline

-64.88%

-49.75%

-15.13%

Max Drawdown (1Y)

Largest decline over 1 year

-12.81%

-7.62%

-5.19%

Max Drawdown (3Y)

Largest decline over 3 years

-29.62%

-26.04%

-3.58%

Max Drawdown (5Y)

Largest decline over 5 years

-29.62%

-49.75%

+20.13%

Max Drawdown (10Y)

Largest decline over 10 years

-47.69%

-49.75%

+2.06%

Current Drawdown

Current decline from peak

-22.95%

-2.12%

-20.83%

Average Drawdown

Average peak-to-trough decline

-9.73%

-16.15%

+6.42%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.28%

2.56%

+3.72%

Volatility

PCM vs. PMJIX - Volatility Comparison

The current volatility for PCM Fund Inc. (PCM) is 2.08%, while PIMCO RAE US Small Fund (PMJIX) has a volatility of 5.43%. This indicates that PCM experiences smaller price fluctuations and is considered to be less risky than PMJIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PCMPMJIXDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.08%

5.43%

-3.35%

Volatility (6M)

Calculated over the trailing 6-month period

7.92%

11.92%

-4.00%

Volatility (1Y)

Calculated over the trailing 1-year period

11.36%

17.28%

-5.92%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.33%

39.46%

-19.13%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.71%

33.09%

-10.38%

Dividends

PCM vs. PMJIX - Dividend Comparison

PCM's dividend yield for the trailing twelve months is around 14.02%, more than PMJIX's 2.65% yield.

PositionTTM20252024202320222021202020192018201720162015
PCM
PCM Fund Inc.		14.02%12.56%12.47%12.06%12.20%8.96%8.95%8.38%9.46%8.47%14.60%10.39%
PMJIX
PIMCO RAE US Small Fund		2.65%3.15%3.26%1.25%9.91%65.79%9.46%1.55%7.65%4.69%1.24%1.67%

Frequently Asked Questions

PCM and PMJIX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

PMJIX has higher volatility (5.43%) compared to PCM (2.08%). In terms of maximum drawdown, PCM dropped -64.88% vs PMJIX's -49.75%.

PMJIX currently has the higher Sharpe Ratio (2.16 vs -0.03), 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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